Tuesday, January 31, 2012

Obama wants small business tax, investment breaks

(AP) ? Fleshing out a year-old initiative, the Obama administration wants Congress to enact or expand tax breaks for small businesses and remove barriers to startups, seizing on some existing bipartisan proposals that could win support even in the polarized climate of an election year.

White House officials say President Barack Obama will call on Congress Tuesday to pass legislation that, among other measures, would eliminate tax rates on capital gains for investments in small businesses and extend for a year the ability of all businesses to immediately deduct all of the costs of equipment and software purchases.

The legislative package, which will be part of Obama's 2013 budget proposal later this month, also would include a new 10 percent tax credit for small business that add jobs or increase wages in 2012. In addition, the legislation would make it easier for new startup companies to raise money and to go public. It also would expand a government small business investment program from $3 billion to $4 billion.

"The president has made small businesses and particularly start-ups a key aspect of his economic growth agenda because he understands how much the newest and fastest-growing small businesses drive job growth in our economy," said Gene Sperling, director of the White House National Economic Council.

The proposals borrow from past Obama initiatives and from bipartisan legislation that has either already passed in the House or is being proposed in the Senate. Obama's package includes proposals offered in the Senate by Democrat Chris Coons of Delaware and Republican Marco Rubio of Florida and another plan by Republican Jerry Moran of Kansas and Democrat Mark Warner of Virginia.

White House officials would not disclose the total cost of the president's package, but Sperling said it would be more than covered by proposals to reduce tax expenditures and by closed loopholes that the administration will call for in its 2013 budget.

With the presidential election set to become the main political preoccupation of 2012, the White House initiative is designed to take advantage of cooperative attempts by Republicans and Democrats to find modest remedies to spur the economy. Most of those efforts have been overshadowed by congressional bickering and by the Republican presidential primary and Obama's growing attention to his re-election.

The proposals come a year after the administration launched a consolidated effort to spur new start-up businesses with a high-profile White House event featuring scores of entrepreneurs, some of whom offered testimonials to the job creation possibilities that new businesses can bring to the economy.

Besides the tax breaks, a central element of the Obama package is to assist new entrepreneurs by making it easier for them to raise money, reduce taxes on their startup expenses, and removing securities barriers for new companies that have gone public.

"Our small business agenda has a specific focus on removing the barriers that have for too long blocked start-ups and entrepreneurs from getting the financing they need to accelerate their growth and hiring." Sperling said.

One of the Obama provisions would increase the amount of money that can be raised through small public offerings that don't require companies to undergo an extensive Securities and Exchange Commission registration process. The limit for such "mini public offerings" would increase from $5 million a year to $50 million.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-01-30-Obama-Business/id-3929926b922843979a2685e5e43f9f8f

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?Liking? Facebook?s IPO could be problematic

The Facebook logo is displayed outside of Facebook's new headquarters in Menlo Park, Calif.

By Martha C. White

The buzz over Facebook?s forthcoming IPO has been propelled at least in part?by retail investors hoping for a piece of the social media giant?s predicted $75 billion to $100 billion valuation.

But when the company?s stock eventually hits trading floors, Facebook fans who want to get in on the company?s initial public offering?are likely to feel as left out as the Winklevoss twins.

Google?s 2004 IPO was conducted via a complicated auction process intended to level the playing field between big trading firms and the little guys. Absent such an arrangement, the advantage tends to go to the players with the most trading volume and money.

By the time your average online brokerage customer can get his or her hands on a stock like Facebook, it?s probably going to already be on an upward trajectory. And those investors hoping to buy on a dip should think twice.

Last year?s spate of tech IPOs saw the stock of companies such as LinkedIn and Zynga put on an initial bounce before stabilizing. However, the hype surrounding Facebook?s IPO has been building for so long that the stock price could stay elevated for longer than other recently debuted tech stocks, analysts say.

?The pool of small investors is so big, I think it?s going to support the stock for a while,? said Sam Hamadeh, founder and CEO of research company PrivCo.

Another issue for potential investors is the meteoric rise in valuation estimates for Facebook since its founding.

In 2005, the company was estimated to be worth $100 million. While the current valuation range has actually dropped a bit since some analysts suggested the company could be worth more than $100 billion, a more modest $75 billion valuation is still ?very aggressive,? said?Hamadeh.

Estimates for Facebook?s true value vary. Gian Fulgoni, co-founder of digital analytics company comScore, was bullish on the company in a CNBC interview Monday, suggesting it could generate $6 billion in revenue this year. (Hamadeh estimates Facebook had revenues of $3.8 billion in 2011.)?

In an event in Dallas over the weekend, Facebook?s COO Sheryl Sandberg talked about creating communities through social technology. If the company wants to fulfill its promise to shareholders it would do better to focus on its relationships with advertisers, said Nate Elliott, an analyst at Forrester Research.

?They need to get better at using the data they have,? he said. ?They have to help the marketers who are spending there [to] improve the performance of the money they?re spending.?

Large companies in particular, Elliott said, are going to start demanding better returns on their advertising dollars.

To that end, Elliott suggested that Facebook could build or buy an ad platform with part of the $10 billion it hopes to net in an IPO. It also will have to pay more to recruit and retain top talent, since it won?t have pre-IPO options to woo employees.

Retail investors who don?t have the patience to wait could seek out a mutual fund specializing in IPOs, but think of it as a lottery ticket, not your retirement plan, Hamadeh cautioned.

?The track record for IPOs is not a great one,? he pointed out. The idea of an IPO market is to invest in a company?s potential while it?s still in its infancy. In the case of Facebook, Hamadeh said, its valuation already assumes five to tenfold growth.

?It could be dead money for the next five years until it catches up with that valuation,? he said.

In other words, retail investors hoping to cash in on the social media juggernaut will have to learn patience one way or another.

Will you invest in Facebook? Share your thoughts on our Facebook page.?

CNBC's Jon Fortt explains who is set to win and lose from the Facebook IPO.

?

Source: http://bottomline.msnbc.msn.com/_news/2012/01/30/10271517-liking-facebooks-ipo-could-be-problematic-for-retail-investors

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Monday, January 30, 2012

'The Help,' Dujardin win at lively SAG Awards

Castmembers of "The Help" pose backstage with their awards for outstanding performance by a cast in a motion picture at the 18th Annual Screen Actors Guild Awards on Sunday Jan. 29, 2012 in Los Angeles. From left, Chris Lowell, Emma Stone, Octavia Spencer, Allison Janney and Viola Davis(AP Photo/Chris Pizzello)

Castmembers of "The Help" pose backstage with their awards for outstanding performance by a cast in a motion picture at the 18th Annual Screen Actors Guild Awards on Sunday Jan. 29, 2012 in Los Angeles. From left, Chris Lowell, Emma Stone, Octavia Spencer, Allison Janney and Viola Davis(AP Photo/Chris Pizzello)

From left, Robert Clohessy, Michael Shannon, Kevin O'Rourke, Gretchen Mol, Peter Van Wagner and Aleksa Palladino pose backstage with their awards for outstanding performance by an ensemble in a drama series for "Boardwalk Empire" at the 18th Annual Screen Actors Guild Awards on Sunday Jan. 29, 2012 in Los Angeles. (AP Photo/Chris Pizzello)

Jean Dujardin is seen backstage with the award for outstanding performance by a male actor in a leading role for "The Artist" at the 18th Annual Screen Actors Guild Awards on Sunday Jan. 29, 2012 in Los Angeles. (AP Photo/Matt Sayles)

(AP) ? Finally, an awards show with some surprises and spontaneity.

The Screen Actors Guild Awards featured some unexpected winners, including "The Help" for best overall cast performance and Jean Dujardin for best actor in "The Artist" alongside some of the longtime favorites in movies and television.

But there was a looseness and a playfulness that permeated the Shrine Exposition Center Sunday night ? maybe because it was a room full of people who love to perform, without the rigidity of one single host to lead them.

Unlike the great expectations that came with the sharp-tongued Ricky Gervais' reprisal at the Golden Globes a couple weeks ago or the much-anticipated return of Billy Crystal to the Academy Awards next month, there was no master of ceremonies at the SAG Awards. The presenters and winners seemed to have more room to improvise and put their own spin on the evening ? but mercifully, the show itself still managed to wrap up on time after just two hours.

And so we had three of the stars of best-cast nominee "Bridesmaids" ? Kristen Wiig, Maya Rudolph and Melissa McCarthy ? introducing their comedy with a joke about turning the name "Scorsese" into a drinking game, which became a running gag throughout the night. When HBO's "Boardwalk Empire" won the award for best drama series cast, among the first words star Steve Buscemi uttered in accepting the prize were "Martin Scorsese" ? he just happens to be one of the show's executive producers.

One of the more exciting moments of the night was the announcement of Dujardin's name in the best-actor category for his performance in the silent, black-and-white homage "The Artist." In winning the award for his portrayal of a silent-film star who finds his career in decline with the arrival of talkies, Dujardin definitely boosts his chances at the Oscars on Feb. 26. Little-known in the United States before this, the French comic bested bigger names like George Clooney ("The Descendants"), Brad Pitt ("Moneyball") and Leonardo DiCaprio ("J. Edgar").

If he follows this up with an Academy Award, Dujardin would become the first French actor ever to take the prize. Asked backstage how it would feel, Dujardin launched into a jaunty rendition of "La Marseillaise," the French national anthem.

"Pressure, big pressure," Dujardin then added in his halting English. "It's unbelievable. It's amazing already. Too early to tell."

Viola Davis and Octavia Spencer continued to cement their front-runner status in the actress and supporting actress categories, respectively, for their formidable work in "The Help." Both women play black maids in 1960s Mississippi who dare to go public about the bigotry they've endured.

"I just have to say that the stain of racism and sexism is not just for people of color or women. It's all of our burden, all of us," Davis said, accepting the ensemble prize on behalf of her "The Help" co-stars.

Backstage, Davis said of her own victory: "A few more people checked my name in the box for whatever reason. This time I kind of fooled them."

Meanwhile, Christopher Plummer picked up yet another supporting-actor prize for his lovely turn as an elderly widower who finally comes out as gay in "Beginners." Plummer won at the Golden Globes and is nominated for an Oscar. He would become the oldest actor ever to win an Academy Award at age 82, two years older than Jessica Tandy was when she won best actress for "Driving Miss Daisy."

Backstage, Plummer joked when asked if he would like to win an Oscar, an honor so elusive during his esteemed 60-year career that he did not even receive his first Academy Award nomination until two years ago, for "The Last Station."

"No, I think it's frightfully boring," Plummer said. "That's an awful question. Listen, we don't go into this business preoccupied by awards. If we did, we wouldn't last five minutes."

The win for overall cast for "The Help," when "The Artist" and "The Descendants" have been the favorites all along, makes the conversation more interesting but it isn't necessarily an indicator of how the film will do come Oscar time.

The guild's ensemble prize, considered its equivalent of a best-picture honor, has a spotty record at predicting what will win the top award at the Oscars. While "The King's Speech" won both honors a year ago, the SAG ensemble recipient has gone on to claim the top Oscar only eight times in the 16 years since the guild added the category.

The winners at the SAG ceremony often do go on to earn Oscars, however. All four acting recipients at SAG last year later took home Oscars ? Colin Firth for "The King's Speech," Natalie Portman for "Black Swan" and Christian Bale and Melissa Leo for "The Fighter."

On the television side, comedy series awards went to "Modern Family" for best ensemble; Alec Baldwin as best actor for "30 Rock"; and Betty White as best actress for "Hot in Cleveland."

"You can't name me, without naming those other wonderful women on 'Hot in Cleveland,'" the 90-year-old White said. "This nomination belongs to four of us. Please, please know that I'm dealing them right in with this. I'm not going to let them keep this, but I'll let them see it."

The TV drama show winners were: Jessica Lange as best actress for "American Horror Story"; and Buscemi as best actor for "Boardwalk Empire."

For TV movie or miniseries, Kate Winslet won as best actress for "Mildred Pierce," while Paul Giamatti was named best actor for "Too Big to Fail."

The guild gave its lifetime achievement award to Mary Tyler Moore, presented by Dick Van Dyke, her co-star on the 1960s sit-com "The Dick Van Dyke Show."

Moore recalled that when she entered show business at age 18 in 1955, there were already six others Mary Moores in the Screen Actors Guild. Told to change her name, she quickly added Tyler, the middle name she shares with her father, George.

"I was Mary Tyler Moore. I spoke it out loud. Mary Tyler Moore. It sounded right so I wrote it down on the form, and it looked right," she said. "It was right. SAG was happy, my father was happy, and tonight, after having the privilege of working in this business among the most creative and talented people imaginable, I too am happy, after all."

___

AP writers David Germain and Beth Harris contributed to this report.

___

Online:

http://www.sagawards.com

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-01-30-SAG%20Awards/id-02809ee6a3f7420c823acba6ff7756b2

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Thursday, January 26, 2012

Verizon sees record revenue in Q4 2011, adds 1.5 million subscribers

Verizon earnings

If you see a Verizon executive walking around today whistling a happy tune, it's because the comany's fourth-quarter 2011 earnings were just announced. Big Red recorded a 7.7 percent increanse in revenue compared to Q4 2010, for its wireless (as in mobile) and wireles (mainly FiOS) combined.

On the wireless side, Verizon saw 18.3 billion in total revenue, up 13 percent year over year. Data revenue was up 19.2 percent to 6.3 billion, and Verizon saw 1.5 million (net) new subscribers, its largest increase in three years. The vast majority of those new subscribers -- 1.3 million -- are of the traditional postpaid variety. Verizon now has 108.7 million total "connections," the company reported, 6.3 percent higher than Q4 2010.

Smartphones make up 44 percent of Verizon's customer base, compared to 39 percent for for the final three months of 2010. It didn't break down how many are Android, and how many are iPhone.

Source: Verizon (pdf)



Source: http://feedproxy.google.com/~r/androidcentral/~3/Ci98UV5rT9g/story01.htm

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Wednesday, January 25, 2012

Romney's mountain of wealth could cause loud echo (AP)

WASHINGTON ? Mitt Romney's tax returns tell the tale: Yes, he's rich ? really rich.

His returns, spanning more than 500 pages and released under political pressure Tuesday, represent an extraordinary financial accounting of one of the wealthiest U.S. presidential candidates in generations, with his annual income topping $20 million.

It remains unclear how the details of Romney's fortune will play among American workers, who on average earn less in a lifetime than Romney paid in taxes in 2010 alone. Meanwhile, the typical taxpayer pays a similar share of his income to Uncle Sam as he does, roughly 15 percent.

Romney's returns ? which include a 2011 tax estimate ? spilled out new details of his scattered holdings, tax strategies and charitable donations. Romney paid about $3 million in federal income taxes in 2010, having earned more than seven times that from his investments.

The documents quickly became fodder for his opponents, with Democrats chiding the former Massachusetts governor for not disclosing more about his financial history. The White House also weighed in about tax fairness as President Barack Obama prepared for his State of the Union Address.

Romney is hardly the only wealthy American seeking the presidency, though he's on a level all his own.

Republican rival Newt Gingrich, who had publicly pressed him to release his tax information, released his own return for 2010 last week. It revealed that Gingrich earned more than $3.1 million, mostly from $2.5 million paid by his companies, partnerships and investments, and paid just under $1 million in federal tax, a rate of about 31 percent.

Obama and his wife, Michelle, reported income of $1.73 million last year, mostly from the books he's written, and paid $453,770 in federal taxes.

Romney's tax returns showed he continues to profit from Bain Capital, the private equity firm he founded but no longer runs; from a Swiss bank account closed just as he launched his campaign and from new listings of investment funds set up overseas.

Romney had long refused to disclose any federal tax returns, then hinted he would offer a single year's return in April. Yet mounting criticism from his rivals and a hard loss in last week's South Carolina primary forced his hand.

"Governor Romney has paid 100 percent of what he owes," said Benjamin Ginsberg, the campaign's legal counsel. Ginsberg and other advisers said Romney did not use any aggressive tax strategies to help reduce or defer his tax income.

For 2011, Romney will pay about $3.2 million with an effective tax rate of about 15.4 percent, the campaign said. Those returns haven't yet been filed yet with the Internal Revenue Service. In total, he would pay more than $6.2 million in taxes on $45 million in income over the past two years, his campaign said.

Romney had been cast by his GOP opponents as a wealthy businessman who earned lucrative payouts from his investments while Bain slashed jobs in the private sector. Romney concedes that some companies Bain invested in were unsuccessful but says others created large numbers of jobs.

As for his own tax payments, he said in Monday night's debate in Tampa, "I pay all the taxes that are legally required and not a dollar more. ... I don't think you want someone as the candidate for president who pays more taxes than he owes."

He added, "You'll see my income, how much taxes I've paid, how much I've paid to charity."

Romney's 2010 return showed about $4.5 million in itemized deductions, including $1.5 million contributed to the Church of Jesus Christ of Latter-day Saints. Romney's charitable giving is above average, even for someone at his income level, according to IRS data.

Romney's GOP rivals did not immediately comment on his tax disclosures. But House Speaker John Boehner, R-Ohio, defended him, telling reporters that Romney's tax rate is close to the 15 percent rate most Americans pay on long-term capital gains from the sale of investments.

Romney's advisers stressed that he met all his federal tax obligations, provided maximum transparency and did not take advantage of what they described as "aggressive" strategies often used by the ultra-rich. Still, for millions of taxpayers grappling with their own returns as tax season looms, Romney's multimillion dollar wealth provides a window into an unfamiliar world.

His 2010 return shows a number of foreign investments, including funds in Ireland, Switzerland, Germany and Luxembourg. Most of Romney's vast fortune is held in a blind trust that he doesn't control. A portion is held in a retirement account.

Romney's advisers acknowledged Tuesday that Romney and his wife, Ann, had a bank account in Switzerland as part of her trust. The account was worth $3 million and was held in the United Bank of Switzerland, said R. Bradford Malt, a Boston lawyer who makes investments for the Romneys and oversees their blind trust, which was set up to avoid any conflicts of interest in investments during his run for the presidency.

In 2009, UBS admitted assisting U.S. citizens in evading taxes and agreed to pay a $780 million penalty as part of a deferred prosecution agreement with the Justice Department.

The political discussion over releasing Romney's tax information highlighted an argument that Democrats are already starting to use against him ? that he is out of touch with normal Americans. And it may well have hurt him in the South Carolina primary, where he lost by 12 percentage points to Gingrich after spending several days resisting calls to release the returns.

Asked during a round of television interviews about Romney's relatively modest tax rate, Obama adviser David Plouffe said: "We need to change our tax system. We need to change our tax code so that everybody is doing their fair share." Obama planned to talk about economic fairness in his State of the Union speech to Congress Tuesday night.

Other Democratic Party voices were less restrained. "He used every loophole in the book available to the wealthy and corporations to avoid paying his fair share," said Democratic National Committee Executive Director Patrick Gaspard.

On the other hand, Romney's wife, Ann, had told supporters at a Florida rally on Sunday: "I want to remind you where we know our riches are. Our riches are with our families."

___

Associated Press writers Stephen Ohlemacher and Alan Fram in Washington and Kasie Hunt in Tampa, contributed.

___

Follow Jack Gillum at http://twitter.com/jackgillum

Source: http://us.rd.yahoo.com/dailynews/rss/gop/*http%3A//news.yahoo.com/s/ap/20120125/ap_on_el_pr/us_romney_taxes

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Tuesday, January 24, 2012

Kristin Cavallari: Pregnant!!


Kristin Cavallari is expecting her first child, the reality star herself confirms!

"We are thrilled to announce we are expecting our first child together," she and her fiance, NFL star Jay Cutler, said in a joint statement. "It's an amazing time in our life and we can't wait to meet the new addition to our growing family."

Kristin Cavallari and Jay Cutler Photograph

Last year was an up-and-down one for the Kristin 25, and Jay, 28, who got engaged, broke up, then got back together and soon got engaged a second time.

The former Hills star and Dancing with the Stars contestant said, "Sometimes, in order for things to get better, they have to end – even if it's momentarily."

Looks like it did wonders for the couple.

Shortly after their split, they became happier than ever it seems, with Jay dutifully attending her DWTS performances and she his Chicago Bears games.

Congratulations to the expectant pair!

[Photo: WENN.com]

Source: http://www.thehollywoodgossip.com/2012/01/kristin-cavallari-pregnant/

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It's been fun, just don't follow in my footsteps

Sean O'Neill, contributor

DSC_5115.jpg(Image: Microsoft Research)

Chris Bishop heads up a team at Microsoft Research Cambridge in the UK, where he holds the title Distinguished Scientist - the company's highest research position. He leads the Machine Learning and Perception group.

What attracted you to machine learning?

The film 2001: A Space Odyssey, with the intelligent computer, HAL, piqued my interest when I was a child. Later, I thought it would be amazing to build an intelligent machine but the research going on at the time didn't seem to be going anywhere. Then, in the late 1980s, along came neural networks and statistical approaches, and this allowed us to teach a computer to become intelligent rather than program it to be so. Since that approach is much closer to how the brain works, I felt it was more likely to succeed, so I got involved.

What do you see on the horizon for the field?

The big thing over the next 10 years will be helping computers to be more like humans, or come closer to humans. Take Microsoft's Kinect system for the Xbox 360, which tracks body movement. We see that not just as a way to control computer games, but also as the first step to natural user interfaces - that is, making it as easy to interact with a computer as it is to interact with a person. The computer will ultimately understand your body language, your gestures, your voice, your facial emotions and so on.

What is it like working for a global company like Microsoft?

It is the best research environment I know. We have a great deal of freedom - it's not a perk, like free coffee, it's part of the job. We have so much freedom because we are paid to figure out the questions as well as the answers. Working at Microsoft also means that we can make an impact on the world much more easily than those in an academic research environment. Sure, in academia you can take out patents and form start-up companies, but we can have a clever idea and within 12 months it can be going out the door to 100 million people. I can make an impact at Microsoft - a clever idea can go out to 100 million people within a year.

Your career path has been anything but straight...

It has meandered somewhat. As an undergraduate I read physics and my PhD was very abstract; I worked with Peter Higgs and David Wallace on quantum field theory. After that I wanted to do something very practical so I switched to work on magnetic confinement fusion, as part of the ongoing effort to develop fusion reactors. After about eight years, I got interested in machine learning and computer intelligence and switched fields again.

Is it good to move around so much?

It's a trade-off. If you work in one specific area all of your life, you become a world expert. On the other hand, if you move fields you get to try new things, which I loved. Looking back, my advice to others would be don't chop and change too much. I wouldn't necessarily encourage anyone to follow in my footsteps, but it has been a lot of fun.

Source: http://feeds.newscientist.com/c/749/f/10897/s/1c0db52d/l/0L0Snewscientist0N0Cblogs0Cbigwideworld0C20A120C0A10Cits0Ebeen0Efun0Ejust0Edont0Efollow0Ein0Emy0Efootsteps0Bhtml0DDCMP0FOTC0Erss0Gnsref0Fonline0Enews/story01.htm

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Monday, January 23, 2012

With Nasdaq soaring, is 2012 tech's breakout year? (AP)

WASHINGTON ? The stock market has had an impressive January. The staid companies that make up the Dow Jones industrial average have gained 4 percent in three weeks, and the broader market has done even better.

But the Nasdaq composite ? a collection of technology stocks whose dot-com heyday was more than a decade ago ? has left them both in the dust.

That's no surprise when you consider tech stocks took a licking last year. Tech companies tend to carry more risk ? a problem for the Nasdaq during last year's market gyrations. As investors regain confidence in the economy, riskier plays are doing well.

But experts say the Nasdaq's gains reflect long-term currents that could lift tech stocks through 2012 and beyond. Many companies put off replacing worn-out technology during the recession. To compete and survive, they need to invest in tech.

There's also a growing global market for technology as more nations try to reduce labor costs by automating everything from factories to cash registers.

And the biggest tech companies face less competition these days when they try to acquire smaller companies. Many of their mid-sized rivals for those deals were weeded out after the dot-com bust and the financial crisis.

In the market for mergers and acquisitions, established players like IBM and Oracle can be picky about buying only those companies that will increase their earnings ? and probably their stock prices.

In other words, it's not all about Microsoft-style titans and trendy social media companies like LinkedIn and Zynga. The Nasdaq contains more than 3,000 companies, many of them relative startups compared with the companies in the Standard & Poor's 500 index.

For the year ? just 13 trading days old ? the Nasdaq composite is up 7 percent, compared with 4.6 percent for the S&P 500 and 4.1 percent for the Dow.

"It looks like it's going to be their year, or at least their month," says Michael Vogelzang, chief investment officer at Boston Advisors LLC.

The Nasdaq sank 1.8 percent last year, while the Dow rose 5.5 percent and the S&P was flat. That left tech stocks relatively cheap, giving them more space to rise as the broader market rallied. Oracle is up 11.9 percent this year, Microsoft 14.5 percent.

Vogelzang and others say the tech rally has further to go.

"If you want to make your company more productive, you have to turn to the world of technology for that," says Kim Caughey Forrest, senior analyst with Fort Pitt Capital Group.

She expects the S&P 500's tech sector to outperform the broader market because of strong demand from U.S. companies, developing nations such as China and even cash-strapped European governments. As China's banking system exploded to serve a growing middle class, banks there spent big on IBM technology, she noted.

"Nobody questions whether they need the latest and greatest technology anymore. They know they need to keep up their technology spending," says Eric Gebaide, managing director of Innovation Advisors, a tech-focused investment bank and strategic advisory firm.

Gebaide and others mentioned many companies' efforts to move their computing and data storage off-site ? trends known as "cloud computing" and "virtualization." Long-distance computing is cheaper, but it requires technology.

But why are tech stocks rallying now? The cloud computing transition has been under way for years, and spending by companies has driven much of the U.S. recovery since the economy emerged from recession in June 2009.

It's all about the investment cycle, says Jack Ablin, chief investment officer with Harris Private Bank. He says investors are finally willing to "flex their speculative muscles in a market that isn't falling apart in the way they feared last year."

Last year, some of the best-performing stocks were consumer staples and utilities ? lower-risk industries where demand is consistent even the economy is slow. This year, utilities in the S&P are down 3.7 percent, while tech companies are up 6 percent.

The move out of so-called defensive stocks, the ones you want to own in a slow economy, is a sign that investors are willing to embrace risk again.

"You're getting this big market rotation," Vogelzang says. "People made money last year in the boring, stable industries, and they're saying, `Hey, I better get on this economy train while I can.'"

Tech companies learned hard lessons from the dot-com bust of the early 2000s and the 2008 financial crisis, says Gebaide of Innovation Advisors. They hold more cash than most types of companies and carry less debt. That leaves them less vulnerable to bankruptcy or a loss of investor confidence.

Given its twice-stung discipline, tech is positioned to drive the economy ? "perhaps the best it has been as a sector in the past 20 years," Gebaide says.

The biggest threat to the industry, Gebaide says, is a slowdown in the early investment that helps startups grow into viable companies. Those early dollars used to offer massive returns to savvy investors when a good pick went public.

Today, the upside for venture capitalists is limited because far fewer companies are going public in big stock offerings. The bar is much higher after dot-com era debacles like Pets.com. Before underwriting a deal or buying chunks of stock, banks and investors want to see millions in annual revenue and established customer bases. It's tough for younger tech companies to meet those standards.

Peter Falvey, managing director of Morgan Keegan Technology Group, says there's plenty of capital, entrepreneurship and good ideas to keep companies' bottom lines ? and stock prices ? rising.

Falvey's group specializes in tech mergers and acquisitions ? the kinds of deals that allow IBM or Oracle to bring a small competitor's product to a wider audience and add to their own earnings. Last year was the best for M&A in his group's 11-year history, and this year's deal pipeline already is stronger than last year's was at this time, he says.

A company like IBM "has huge amounts of capital and a global customer base, plus complete hardware-software services," Falvey says. "Once you put a small company into that machine, IBM can do really well with it."

The industry's earlier downturns also helped big companies by weeding out smaller players. The number of publicly traded tech companies has decreased by a third since 2000, Gebaide says. Now the big dogs can pick and choose more carefully, acquiring only businesses that are almost certain to increase their profits.

To be sure, high-tech companies are higher-risk investments, and they could lose value quickly if the market tanks because of a debt catastrophe in Europe or something unforeseen.

"People love tech until we get an economic shock, or negative economic statistics start to come out," Vogelzang says. "Then all of a sudden, people will say, `Whoa, I need to go buy some utilities again."

But investors should take tech's success at this stage as a promising sign, says Ryan Detrick, senior technical strategist with Schaeffer's Investment Research. He says higher-risk bets like tech stocks tend to rise as the market enters a phase of long-term growth.

Housing, tech and small-company stocks all have risen faster than broad indexes since October, Detrick says. Those sectors are sensitive to improving economic data, he says.

"When you start to see tech taking charge, that's definitely a potential step in the right direction for future gains, potentially for the whole year," Detrick says. "Those are the sectors you want to see lead a bull market."

___

Follow Daniel Wagner at www.twitter.com/wagnerreports.

.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20120122/ap_on_bi_st_ma_re/us_wall_street_week_ahead

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UK high court clears way for Basque extradition (AP)

LONDON ? Britain's High Court has cleared the way for the extradition of a suspected Basque separatist wanted in connection with a plot to assassinate Spain's king.

The court ruled Monday that Eneko Gogeaskoetxea Arronategui, 44, can be sent to Spain. He has several days to appeal the decision.

Gogeaskoetxea Arronategui is suspected of being one of several ETA members allegedly behind a foiled bomb plot at the 1997 opening of the Guggenheim Museum in Bilbao, in northern Spain. King Juan Carlos was believed to have been the target.

The suspect was arrested in July at his home in Cambridge.

ETA is a Basque separatist group that has killed 829 people since 1968 in a campaign of bombings, shootings, kidnappings and extortion.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20120123/ap_on_re_eu/eu_britain_spain_extradition

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Friday, January 20, 2012

Researchers' refinement increases solar concentrator efficiency

ScienceDaily (Jan. 19, 2012) ? A team of researchers at the University of California, Merced, has redesigned luminescent solar concentrators to be more efficient at sending sunlight to solar cells.

The advancement could be an important breakthrough for solar energy harvesting, said UC Merced physics Professor Sayantani Ghosh, who led the project.

"We tweaked the traditional flat design for luminescent solar concentrators and made them into cylinders," Ghosh said. "The results of this architectural redesign surprised us, as it significantly improves their efficiency."

The main problem preventing luminescent concentrators from being used commercially is that they have high rates of self-absorption, Ghosh said, meaning they absorb a significant amount of the light they produce instead of transporting it to the solar cells.

The research team showed the problem can be addressed by changing the shape of the concentrator. They discovered a hollow cylindrical solar concentrator is a better design compared with a flat concentrator or a solid cylinder concentrator. The hollow cylinders absorb more sunlight while having lower self-absorption losses.

Luminiscent solar concentrators are designed to absorb solar radiation over a broad range of colors and re-emit it over a narrower range (for example, only red), a process known as down-converting. This light is transported to solar cells for photocurrent generation. The quantum dots embedded in the concentrator are the materials that carry out this color conversion.

The biggest advantage they offer over traditional solar cells is that they can work even in diffuse sunlight, like on cloudy days. And because of this, they do not need to directly face the sun at all times, eliminating the need for tracking mechanisms.

Ghosh said the discovery could make commercially viable luminescent solar concentrators a reality, especially because the design enhances performance while using the same number of quantum dots, therefore without being more costly.

This saves on infrastructure costs and also opens up the possibility that the collectors can be integrated onto vertical surfaces like walls and windows. The next step is to develop a large array of hollow cylindrical luminescent solar concentrators and track the efficiency of the panel.

Richard Inman, Georgiy Shcherbatyuk, Dmitri Medvedko and Ajay Gopinathan are the other members of the team that conducted this research.

Inman served as the lead researcher while he was an undergraduate at UC Merced, an example of the hands-on learning opportunities available to students. He's now a graduate student at UC San Diego. Medvedko is an undergraduate student, and Shcherbatyuk is a graduate student. Gopinathan is a physics professor.

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Story Source:

The above story is reprinted from materials provided by University of California, Merced.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.


Journal Reference:

  1. R. H. Inman, G. V. Shcherbatyuk, D. Medvedko, A. Gopinathan, S. Ghosh. Cylindrical luminescent solar concentrators with near-infrared quantum dots. Optics Express, 2011; 19 (24): 24308 DOI: 10.1364/OE.19.024308

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://www.sciencedaily.com/releases/2012/01/120119153042.htm

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Thursday, January 19, 2012

Muoio: West Palm Beach To Bring Businesses, Jobs

WPBF.com

Mayor Jeri Muoio told a crowd of hundreds at her State of the City address Wednesday that West Palm Beach is ready for a stellar year.

"Well, the state of the city is terrific," Muoio told WPBF 25 News after her speech.

She has a goal of bringing businesses and jobs to downtown. Already, there are plans to build a new high-rise building on a vacant lot to house the employees of Digital Domain, which is partnering with Florida State University's film school.

"We think our downtown is vibrant," Muoio said. "It's a place where businesses want to be, especially businesses that employ young people."

But just a few miles from the busy downtown are the underdeveloped and impoverished parts of West Palm Beach, most notably along Tamarind Avenue, where crime has been rising.

The mayor hopes to stop that this year.

"They need to know that that area is going to be safer because we're bringing in private security," Muoio said. "They need to know that it's going to be more beautiful. We're going to be developing Seventh Street Square."

Also on the agenda for 2012 is increasing tourism and developing the waterfront.

But one of the city's premiere spring events, the Palm Beach International Boat Show, could be halted this year.

The city is threatening to cancel it because city officials claim organizers did thousands of dollars in damage to the waterfront last year. It's still unclear whether the major tourist event planned for March is a go.

"We'll see," Muoio said. "We'll see."

Most Popular Stories at WPBF

Source: http://www.msnbc.msn.com/id/46042057/ns/local_news-west_palm_beach_fl/

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Wednesday, January 18, 2012

Starting A Business After 50: How I Did It

Why do people start businesses? The typical answers -- to get rich, to follow a passion, to find work/life balance -- are rarely the true reasons. First of all, they're not sound rationales. Only the lucky few get rich running a business, you need a lot more than passion to make it work, and, in my experience, the search for so-called life/work balance becomes a fool's errand.

How do I know these things? Well, I have spent the better part of my adult years supporting, writing about and advocating for entrepreneurs -- most of them, somewhat ironically, as an employee, editing Entrepreneur magazine for over 25 years. For the past four years, I've been running my own company, so I speak from experience.

I will confess that it never occurred to me to start a business (outside of wishful thinking after editing an article on yet another successful entrepreneur and asking myself, "Why didn?t I think of that?"), until I was well into my 50s. After all, I was relatively happy with my job -- or so I thought.

This odd combination of contentment and self-delusion is common for the women who were born on the leading edge of the baby boom (I'm 59). When Betty Friedan wrote "The Feminine Mystique" in 1963, giving birth to the feminist revolution, many of us were still in grade school or junior high, relatively unaware of the possibilities that were being opened for us. In fact, a few years later, my high-school guidance counselor presented me with the three careers that were open to me: teacher, nurse or secretary. I, of course, promptly rejected them all, and out of desperation remembered seeing women's bylines in The New York Times, and declared my intent to be a journalist.

By our nature, journalists are not inherently entrepreneurial (or weren't -- there's been a primordial shift just in the last five years). We are trained to observe and report. So it took me a long time to realize I was in the equivalent of a bad marriage, pretending everything was OK, but knowing it wasn't. And I had been "married" far too long.

The perils of starting a business are well known. Most startups fail within the first five years. Cash flow is an issue, even in the best of economic times. And if you?re single, you realize there's no safety net, no spouse's income to rely on while you build your business. Add to that the fact that at 50 or older, there's simply less time to recoup any losses that may occur, and you wonder why anyone would be crazy enough to embark into the great unknown world of entrepreneurship.

And yet, why not? That?s the question I kept asking myself. Why not? And I could never come up with a reason. The truth is, I'm not very introspective. I don't mull things over very well -- I?m more the impulsive type. That's how I ended up on Thanksgiving day, at the age of 55, in Paris for the first time, staring at the magnificence of the Cathedral at Notre Dame sipping the best hot chocolate ever made, and deciding, "Why not?!"

I was in business with several of my former employees four months later. Little did I realize I was part of a surge: The Kauffman Foundation reports that in the past 10 years or so, 55- to 64-year-olds boasted the highest rate of entrepreneurial activity, while 20- to 34-year-olds had the lowest.

I won't lie and tell you owning a business is oh-so-easy. I have never worked this hard in my life. Or slept so little. There were moments (more like months) where I questioned my decision several times a day -- and my sanity even more often. There were times I didn?t think we'd make it. I can recount almost every high (meeting new people who've become friends, partners, clients and mentors; winning a new contract), and low (clients who go out of business; learning the cost of health care; finding out people you thought were your friends really weren't).

But I don't regret taking the leap. Do I wish I'd divorced my job earlier? Absolutely. But apparently "50 is the new 30" -- and The Telegraph newspaper in England has dubbed us 50-plus women "quintastics," so I?m not worried.

So why do people start businesses? Everyone has their own motivations. Some have no choice, others are pushed, some meticulously plan, others are spontaneously creative, and some, like me, just decide our time has come.

Rieva Lesonsky is the founder and CEO of GrowBiz Media, a Lakewood, Calif.-based provider of information and resources for business owners, and a member of the HuffPost Small Business Board of Directors.

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Source: http://www.huffingtonpost.com/2012/01/17/my-second-life-starting-a-business-in-my-50s_n_1205350.html

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Tuesday, January 17, 2012

Happy 31st Birthday, Pitbull!


Today is Martin Luther King Jr.'s birthday, which the U.S. marks tomorrow with a national holiday - a fitting tribute to an individual so peerless in modern times.

Far less significant, but still fun? Pitbull also celebrates a birthday today!

The Miami-born, Cuban-American rap guru has become a force to be reckoned with in recent years, showing us that music is indeed the international language.

No longer just Mr. 305, Mr. Worldwide is collaborating with everyone from J. Lo and Marc Anthony to Ne-Yo and T-Pain, cranking out one hit after another.

Mr. Worldwide

As we look forward to his next smash hit, here's wishing Armando Christian Perez, better known by his stage name Pitbull, a happy 31st birthday today.

Source: http://www.thehollywoodgossip.com/2012/01/happy-31st-birthday-pitbull/

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Sunday, January 15, 2012

Winterizing Your Pets to keep them warm and safe! | Animal Fair ...

?

Winterizing Your Pet with Pet Lifestyle Expert, Animal Rescue Advocate and Best Selling Author Wendy Diamond

How to Keep Your Pet Safe and Warm in Extreme Weather

?

Jack Frost is stirring and the weather is getting a little crazy. Pet parents need to bundle up, but dogs and cats need to be ready too! Protect your four-legged loved one from extreme weather conditions using these pet tips.

?

Winter Pet Safety with Wendy,  Lucky and Pasha!

Winter Pet Safety with Wendy, Lucky and Pasha!

1.??????????? Not all dogs are huskies! Help your pet stay warm. Pets should be brought indoors or kept inside as much as possible. If your dog?s hair is groomed short, let it grow longer. They were lucky enough be born with their own fur coat? let them use it!

?

2.??????????? Winter Pet Fashion Show! There are so many ways to keep your pet warm this winter. A mini fashion show will help showcase some of the many dog coats that pet parents can choose from, including Land?s End Fleece Dog Jacket which can come in 4 colors and has sizes ranging from XS to XL.

?

3.??????????? During extreme weather conditions, pets love curling up next to anything warm. Heaters and furnaces can become scorching winter hazards! Keep an eye on paws or tails near coils, flames, or hot areas. Cats might curl up by your car engine. Make sure to check beneath your car or make lots of noise before turning it on. Dyson Hot Air Heater just came out with the very first Pet Friendly heater where your pets (or children) can never burned!

?

4.??????????? Even in the most extreme weather, your dog has to go outside. Pets can get ice, salt, and chemicals melted to their paws. Wipe your pet?s paws when they get back to avoid chaffing or getting raw, and to prevent your pup from licking the salt off his paws. You can buy a pair of pup booties! But if the shoe doesn?t fit, don?t make them because not all dogs like booties. For your own drive and pets sake consider Morton? Safe-T-Pet?, developed with veterinarians, is a salt free and chloride free ice melter which melts below 15 degrees Fahrenheit.? Its urea-based, organic formula is non-toxic and non-irritating to pet?s paws and stomachs.

?

5.??????????? Older pets or pets with health conditions need extra care this time of year. The cold can leave their joints stiff or tender, and they might move slower or more awkwardly. They need a soft, warm bed and keep a closer eye on them when they?re outside or playing. ?Petco?s Orthopedic Memory Foam Bed ?conforms to your pet and responds to heat and pressure. Especially when it?s cold outside your dog can retreat to a comfortable cozy bed to chill out.

?

6.??????????? Make sure your pet has a full water bowl outside. Check outdoor bowls often because the water can freeze. Break the ice because so your puppy?s or kitty?s tongue won?t to stick to it! Make the investment in a heated bowl or a bowl that has a heating element for dogs that are outside.

For the Best the Pet Lifestyle and animal welfare has to offer follow Wendy and Lucky Diamond on Facebook,?Twitter,?and right here at?AnimalFair.com!

?


lucky Follow Wendy? ? ? lucky Follow Lucky????? Feed Subscribe to RSS

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Tags: cold weather, pet lifestyle expert, pets, wendy diamond, winter pet safety tips

Source: http://www.animalfair.com/home/winterizing-pets-warm-safe/

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Breakthrough model reveals evolution of ancient nervous systems through seashell colors

ScienceDaily (Jan. 12, 2012) ? Determining the evolution of pigmentation patterns on mollusk seashells -- which could aid in the understanding of ancient nervous systems -- has proved to be a challenging feat for researchers. Now, however, through mathematical equations and simulations, University of Pittsburgh and University of California, Berkeley, researchers have used 19 different species of the predatory sea snail Conus to generate a model of the pigmentation patterns of mollusk shells.

"There is no evolutionary record of nervous systems, but what you're seeing on the surface of seashells is a space-time record, like the recording of brain-wave activity in an electroencephalogram (EEG)," said project coinvestigator G. Bard Ermentrout, Pitt Distinguished University Professor of Computational Biology and a professor in the Kenneth P. Dietrich School of Arts and Sciences' Department of Mathematics.

Seashells differ substantially between the closely related Conus species, and the complexity of the patterns makes it difficult to properly characterize their similarities and differences. It also has proven difficult to describe the evolution of pigmentation patterns or to draw inferences about how natural selection might affect them. In a paper published in the Jan. 3 issue of the Proceedings of the National Academy of Sciences (PNAS) Online, Ermentrout and his colleagues attempt to resolve this problem by combining models based on natural evolutionary relationships with a realistic developmental model that can generate pigmentation patterns of the shells of the various Conus species.

In order for UC Berkeley scientists to create simulations, Ermentrout and his collaborators developed equations and a neural model for the formation of the pigmentation patterns on shell surfaces. With the equations in hand, Zhenquiang Gong, a UC Berkeley graduate student in engineering, used a computer to simulate the patterns on the shells, hand fitting the parameters to create a basic model for the patterns of a given species.

The results of this study have allowed the researchers to estimate the shell pigmentation patterns of ancestral species, identify lineages in which one or more parameters have evolved rapidly, and measure the degree to which different parameters correlate with the evolutionary development and history of the organisms. Since the parameters are telling the researchers something about the circuitry of the mollusks' nervous system, this is an indirect way to study the evolution of a simple nervous system.

"We've found that some aspects of the nervous system have remained quite stable over time, while there is a rapid evolution of other portions," said Ermentrout.

"In the future, we hope to use similar ideas to understand other pattern-forming systems that are controlled by the nervous system," Ermentrout added. "For instance, we would really like to develop models for some of the cephalopods like the cuttlefish and the octopus, which are able to change patterns on their skin in an instant."

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The above story is reprinted from materials provided by University of Pittsburgh.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.


Journal Reference:

  1. Z. Gong, N. J. Matzke, B. Ermentrout, D. Song, J. E. Vendetti, M. Slatkin, G. Oster. PNAS Plus: Evolution of patterns on Conus shells. Proceedings of the National Academy of Sciences, 2012; DOI: 10.1073/pnas.1119859109

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://www.sciencedaily.com/releases/2012/01/120112142301.htm

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Saturday, January 14, 2012

Heather Locklear Taken To Hospital After 911 Call

The actress is taken to a hospital after an emergency phone call is placed from her home.
By Jason Kaufman


Heather Locklear
Photo: Jon Kopaloff/FilmMagic

Heather Locklear was rushed to a California hospital on Thursday with what law officials are labeling "a medical emergency."

TMZ reports that the emergency was a dangerous mix of prescription medication and alcohol. She was taken by ambulance from her home after a call was placed to 911.

"Emergency response personnel responded to a medical emergency call at Ms. Locklear's residence," Ventura County Sheriff's Capt. Mike Aranda told People later Thursday. "Once they arrived, it was determined that Ms. Locklear needed to be transported to the hospital for further medical attention."

This is the second medical scare for the 50-year-old actress within the past 13 months. In December of 2010, Locklear landed in the hospital for a brief stay for a bacterial infection.

2011 was not without bumps for the actress either after a split with longtime beau Jack Wagner, once her co-star on "Melrose." The couple had been engaged for only three months.

Locklear had appeared in public as recently as Tuesday night at a Lakers game, reports TMZ.

Locklear had returned to television in 2009 to revive her role as Amanda Woodward on a reboot of "Melrose Place." Locklear had proved dependable for weekly watercooler discussion during the series' original run in the mid-'90s.

Source: http://www.mtv.com/news/articles/1677244/heather-locklear-hospitalized-911-call.jhtml

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Friday, January 13, 2012

Sony reveals SS-AR2 loudspeaker, wants an invite to your next house party

Sony has been quite busy chatting up new products for 2012 here at CES. One of the new pieces of tech is the SS-AR2 loudspeaker that looks to keep the up the reputation of its elder sibling in the R-Series line, the SS-AR1. Maple from Hokkaido, an island in northern Japan encloses all the important components and contributes to the overall sound quality. The SS-AR2 is a 4-unit, 3-way vented standing tower that sports a frequency response ranging from 42kHz to 60kHz. Distortion is combated by positioning the bass reflex port in just the right to spot to allow a duo of woofers to drive without a hitch. Birch partitions on the interior construct a well-insulated cavity keeping the midrange and tweeters just the right distance apart from the bass section -- and all those tones neat and tidy. NO word on pricing on availability as of yet, but you'll want to start bench pressing phone books before picking one up, as each unit tips the scale at 84 pounds.

Continue reading Sony reveals SS-AR2 loudspeaker, wants an invite to your next house party

Sony reveals SS-AR2 loudspeaker, wants an invite to your next house party originally appeared on Engadget on Tue, 10 Jan 2012 22:32:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/01/10/sony-reveals-ss-ar2-loudspeaker-wants-an-invite-to-your-next-ho/

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Thursday, January 12, 2012

Kasey Keller moves from goal to broadcast booth

updated 5:42 p.m. ET Jan. 10, 2012

TUKWILA, Wash. - Kasey Keller is moving from the field to the broadcast booth.

The Seattle Sounders announced on Tuesday that Keller will become the analyst on all radio and television broadcasts for the 2012 season. Keller will join new play-by-play announcer Ross Fletcher, who was hired to replace Arlo White. White has moved on to become the lead play-by-play announcer for NBC Sports coverage of the MLS.

Keller retired as a player following last season at age 41. He spent the final three years of his career playing for the Sounders and was voted the MLS goalkeeper of the year in his final professional season.

Fletcher has spent the last five years working as a soccer commentator and reporter for the BBC.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Messi again

Lionel Messi becomes the first person to win FIFA player of the year three times in a row.

Source: http://nbcsports.msnbc.com/id/45948574/ns/sports-soccer/

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Wednesday, January 11, 2012

Roy Disney family mulls bid for Dodgers (AP)

LOS ANGELES ? The family of the late Roy E. Disney is in talks with other investors about making a joint bid to buy the Los Angeles Dodgers out of bankruptcy.

The talks were confirmed Monday by Clifford Miller, managing director of the Disney family's investment vehicle, Shamrock Holdings.

Roy Disney was the nephew of Walt Disney, but the family's investments are not directly tied to the operation of The Walt Disney Co. itself.

Miller said Stanley Gold, the CEO of Shamrock, is seriously exploring investing in the team along with the Disney family and other investors, including several in the Los Angeles area.

Gold has gone through the process of qualifying the investor group to make a bid by the Jan. 23 deadline and the group is examining the team's financials.

Source: http://us.rd.yahoo.com/dailynews/rss/sports/*http%3A//news.yahoo.com/s/ap/20120109/ap_on_sp_ba_ne/bbn_disney_dodgers

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Tuesday, January 10, 2012

'Dalit queen' statues covered up for India poll

Coordinates40?26?30?N80?00?00?N
Native nameBh?rat Ga?ar?jya
Conventional long nameRepublic of India
Common nameIndia
Alt flagHorizontal tricolour flag bearing, from top to bottom, deep saffron, white, and green horizontal bands. In the centre of the white band is a navy-blue wheel with 24 spokes.
Image coatEmblem of India.svg
Alt coatThree lions facing left, right, and toward viewer, atop a frieze containing a galloping horse, a 24-spoke wheel, and an elephant. Underneath is a motto: "??????? ????".
Symbol typeEmblem
National motto"Satyameva Jayate"?(Sanskrit)?(Devan?gar?)"Truth Alone Triumphs"
National anthem
File:Jana Gana Mana instrumental.ogg
Jana Gana Mana"Thou Art the Ruler of the Minds of All People"
Other symbol typeNational song:
File:Vande Mataram.ogg
Other symbolVande Mataram"I Bow to Thee, Mother".|grouplower-alpha}}
|image_map=India (orthographic projection).svg |alt_map=Image of a globe centred on India, with India highlighted. |map_caption=Area controlled by India is in dark green.Claimed but uncontrolled regions are in light green. |map_width=220px |capital=New Delhi |latd=28|latm=36.8|latNS=N |longd=77|longm=12.5|longEW=E |largest_city=Mumbai |official_languages=}} |regional_languages= |languages_type=National languages |languages=None |demonym=Indian |government_type=}} |leader_title1=President |leader_name1=Pratibha Patil |leader_title2=Prime Minister |leader_name2=Manmohan Singh (INC) |leader_title3= |leader_name3=Meira Kumar (INC) |leader_title4=Chief Justice |leader_name4=S. H. Kapadia |legislature=Parliament of India |upper_house=Rajya Sabha |lower_house=Lok Sabha |sovereignty_type=Independence |sovereignty_note=From the United Kingdom |established_event1=Declared |established_date1=15 August 1947 |established_event2=Republic |established_date2=26 January 1950 |area_rank=7th |area_magnitude=1 E12 |area_km2=3,287,263 |area_sq_mi=1,269,219 |area_footnote=. and the total land area as ; the United Nations lists the total area as and total land area as ." .|group=lower-alpha}}|group=upper-alpha}} |percent_water=9.56 |population_census_rank=2nd |population_census=1,210,193,422 |population_estimate_rank=2nd |population_estimate_year=2011 |population_census_year=2011 |population_density_km2=/3287263 round 1}} |population_density_sq_mi=/1269219 round 1}} |population_density_rank=31st |GDP_PPP=$4.469 trillion |GDP_PPP_rank=3rd |GDP_PPP_year=2011 |GDP_PPP_per_capita=$3,703 |GDP_PPP_per_capita_rank=129th |GDP_nominal=$1.843 trillion |GDP_nominal_rank=9th |GDP_nominal_year=2011 |GDP_nominal_per_capita=$1,527 |GDP_nominal_per_capita_rank=133rd |Gini=36.8 |Gini_rank=79th |Gini_year=2004 |HDI=0.547 |HDI_rank=134th |HDI_year=2011 |HDI_category=medium |currency=Indian rupee () |currency_code=INR |time_zone=IST |utc_offset=+05:30 |time_zone_DST=Not observed |utc_offset_DST=+05:30 |date_format=dd-mm-yyyy (AD) |drives_on=Left |cctld=.in |calling_code=91 |footnotes=}} }}

India (), officially the Republic of India (, ), is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the south-west, and the Bay of Bengal on the south-east, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north-east; and Burma and Bangladesh to the east. In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives; in addition, India's Andaman and Nicobar Islands share a maritime border with Thailand and Indonesia.

Home to the ancient Indus Valley Civilization and a region of historic trade routes and vast empires, the Indian subcontinent was identified with its commercial and cultural wealth for much of its long history. Four of the world's major religions?Hinduism, Buddhism, Jainism, and Sikhism?originated here, whereas Zoroastrianism, Christianity, and Islam arrived in the 1st millennium CE and also helped shape the region's diverse culture. Gradually annexed by and brought under the administration of the British East India Company from the early 18th century and administered directly by the United Kingdom from the mid-19th century, India became an independent nation in 1947 after a struggle for independence that was marked by non-violent resistance and led by Mahatma Gandhi.

The Indian economy is the world's ninth-largest economy by nominal GDP and fourth-largest economy by purchasing power parity (PPP). Following market-based economic reforms in 1991, India became one of the fastest-growing major economies; it is considered a newly industrialised country. However, it continues to face the challenges of poverty, illiteracy, corruption, and inadequate public health. A nuclear weapons state and a regional power, it has the third-largest standing army in the world and ranks tenth in military expenditure among nations. India is a federal constitutional republic governed under a parliamentary system consisting of 28 states and 7 union territories. It is one of the five BRICS nations. India is a pluralistic, multilingual, and multiethnic society. It is also home to a diversity of wildlife in a variety of protected habitats.

Etymology

The name India is derived from Indus, which is derived from the Old Persian word Hindu, from Sanskrit Sindhu (??????), the historic local appellation for the Indus River. The ancient Greeks referred to the Indians as Indoi (?????), the people of the Indus. The Constitution of India and usage in many Indian languages also recognises Bharat (pronounced ) as an official name of equal status. The name Bharat is derived from the name of the legendary king Bharata in Hindu scriptures. Hindustan (), originally a Persian word for "Land of the Hindus" and referring to North India and Pakistan before 1947, is also occasionally used as a synonym for all of India.

History

Ancient India

The earliest anatomically modern human remains found in South Asia are from approximately 30,000 years ago. Nearly contemporaneous Mesolithic rock art sites have been found in many parts of the Indian subcontinent, including at the Bhimbetka rock shelters in Madhya Pradesh. Around 7000 BCE, the first known neolithic settlements appeared on the subcontinent in Mehrgarh and other sites in western Pakistan. These gradually developed into the Indus Valley Civilisation, the first urban culture in South Asia, which flourished during 2500?1900?BCE in Pakistan and western India. Centred around cities such as Mohenjo-daro, Harappa, Dholavira, and Kalibangan, and relying on varied forms of subsistence, the civilisation engaged robustly in crafts production and wide-ranging trade.

During the period 2000?500 BCE, many regions of the subcontinent evolved from copper age to iron age cultures. The Vedas, the oldest scriptures of Hinduism, were composed during this period, and historians have analyzed these to posit a Vedic culture in the Punjab region and the upper Ganges Plain. Most historians also consider this period to have encompassed several waves of Indo-Aryan migration into the subcontinent from the north-west. The caste system, which created a hierarchy of priests, warriors, and free peasants, but which excluded indigenous peoples by labeling their occupations impure, arose during this period. In the Deccan, archaeological evidence from this period suggests the existence of a chiefdom stage of political organisation. In South India, the large number of megalithic monuments found from this period, and nearby evidence of agriculture, irrigation tanks, and craft traditions suggest progression to sedentary life.

By the 5th century BCE, the small chiefdoms of the Ganges Plain and the north-west regions had consolidated into 16 major oligarchies and monarchies called Mahajanapadas. The emerging urbanisation as well as the orthodoxies of the late Vedic age created the religious reform movements of Buddhism and Jainism. Buddhism, based on the teachings of India's first historical figure, Gautam Buddha, attracted followers from all social classes excepting the middle; Jainism came into prominence around the same time during the life of its exemplar, Mahavira. In an age of increasing urban wealth, both religions held up renunciation as an ideal, and both established long-lasting monasteries. Politically, by the 3rd century BCE, the kingdom of Magadha had annexed or reduced other states to emerge as the Mauryan Empire. The empire was once thought to have controlled most of the subcontinent excepting the far south, but its core regions are now thought to have been separated by large autonomous areas. The Maurya kings are known as much for their empire building and determined management of public life as for Ashoka the Great's renunciation of militarism and far-flung advocacy of the Buddhist dhamma.

The Sangam literature of the Tamil language reveals that, between 200 BCE and 200 CE, the southern peninsula was being ruled by the Cheras, the Cholas, and the Pandyas, dynasties that traded extensively with the Roman Empire and with West and South-East Asia. In North India, Hinduism asserted patriarchal control within the family leading to increased subordination of women. By the 4th and 5th centuries, the Gupta Empire had created a complex administrative and taxation system in the greater Ganges Plain that became a model for later Indian kingdoms. Under the Guptas, a renewed Hinduism based on devotion rather than the management of ritual began to assert itself. The renewal was reflected in a flowering of sculpture and architecture, which found patrons among an urban elite. Classical Sanskrit literature flowered as well, and Indian science, astronomy, medicine, and mathematics made significant advances.

Medieval India

The Indian early medieval age, 600 CE to 1200 CE, is defined by regional kingdoms and cultural diversity. When Harsha of Kannauj, who ruled much of the Ganges plain from 606 to 647 CE, attempted to expand southwards, he was defeated by the Chalukya ruler of the Deccan. When his successor attempted to expand eastwards, he was defeated by the Pala king of Bengal. When the Chalukyas attempted to expand southwards, they were defeated by the Pallavas from farther south, who in turn were opposed by the Pandyas and the Cholas from still farther south. No ruler of this period was able to create an empire and consistently control lands much beyond his core region. During this time, pastoral peoples whose land had been cleared to make way for the growing agriculture economy were accommodated within caste society, as were new non-traditional ruling classes. The caste system consequently began to show regional differences.

In the 6th and 7th centuries, the first devotional hymns were created in the Tamil language. They were imitated all over India and led to both the resurgence of Hinduism and the development of all modern languages of the subcontinent. Indian royalty, big and small, and the temples they patronised, drew citizens in great numbers to the capital cities, which became economic hubs as well. Temple towns of various sizes began to appear everywhere as India underwent another urbanisation. By the 8th and 9th centuries, the effects were felt in South-East Asia, as South Indian culture and political systems were exported to what today are Thailand, Laos, Cambodia, Vietnam, Malaysia, and Java. Indian merchants, scholars, and sometimes armies were involved in this transmission; South-East Asians took the initiative as well with many sojourning in Indian seminaries and translating Buddhist and Hindu texts into their languages.

After the 10th century, Muslim Central Asian nomadic clans, using swift-horse cavalry and raising vast armies united by ethnicity and religion, repeatedly overran South Asia's north-western plains, leading eventually to the establishment of the Islamic Delhi Sultanate in 1206. The Sultanate was to control much of North India, and to make many forays into South India. Although at first disruptive for the Indian elites, the Sultanate largely left its vast non-Muslim subject population to its own laws and customs. By repeatedly repulsing the Mongol raiders in the 13th century, the Sultanate saved India from the devastation visited on West and Central Asia, setting the scene for centuries of migration of fleeing soldiers, learned men, mystics, traders, artists, and artisans from that region into the subcontinent, thereby creating a syncretic Indo-Islamic culture in the north. The Sultanate's raiding and weakening of the regional kingdoms of South India paved the way for the indigenous Vijayanagara Empire. Embracing a strong Shaivite tradition and building upon the military technology of the Sultanate, the empire came to control much of peninsular India, and was to influence South Indian society for long afterwards.

Early modern India

In the early 16th century, northern India, being then under mainly Muslim rulers, fell again to the superior mobility and firepower of a new generation of Central Asian warriors. The resulting Mughal Empire did not stamp out the local societies it came to rule, but rather balanced and pacified them through new administrative practices and diverse and inclusive ruling elites, leading to more systematic, centralised, and uniform rule. Eschewing tribal bonds and Islamic identity, especially under Akbar, the Mughals united their far-flung realms through loyalty, expressed through a Persianised culture, to an emperor who had near divine status. The Mughal state's economic policies, deriving most revenues from agriculture and mandating that taxes be paid in the well-regulated silver currency, caused peasants and artisans to enter larger markets. The relative peace maintained by the empire during much of the 17th century was a factor in India's economic expansion, resulting in greater patronage of painting, literary forms, textiles, and architecture. Newly coherent social groups in northern and western India, such as the Marathas, the Rajputs, and the Sikhs, gained military and governing ambitions during Mughal rule, which, through collaboration or adversity, gave them both recognition and military experience. Expanding commerce during Mughal rule gave rise to new Indian commercial and political elites along the coasts of southern and eastern India. As the empire disintegrated, many among these elites were able to seek and control their own affairs.

By the early 18th century, with the lines between commercial and political dominance being increasingly blurred, a number of European trading companies, including the English East India Company, had established outposts on the coast of India. The East India Company's control of the seas, greater resources, and more advanced military training and technology led it to increasingly flex its military muscle and caused it to become attractive to a portion of the Indian elite; both these factors were crucial in allowing the Company to gain control over the Bengal region by 1765 and sideline the other European companies. Its further access to the riches of Bengal and the subsequent increased strength and size of its army enabled it to annex or subdue most of India by the 1820s. India was now no longer exporting manufactured goods as it long had, but was instead supplying the British empire with raw materials, and many historians consider this to be the onset of India's colonial period. By this time, with its economic power severely curtailed by the British parliament and itself effectively made an arm of British administration, the Company began to more consciously enter non-economic arenas such as education, social reform, and culture.

Modern India

Historians consider India's modern age to have begun sometime between 1848 and 1885. The appointment in 1848 of Lord Dalhousie as Governor General of the East India Company rule in India set the stage for changes essential to a modern state. These included the consolidation and demarcation of sovereignty, the surveillance of the population, and the education of citizens. Technological changes?among them, railways, canals, and the telegraph?were introduced not long after their introduction in Europe. However, disaffection with the Company also grew during this time, and set off the Indian Rebellion of 1857. Fed by diverse resentments and perceptions, including invasive British-style social reforms, harsh land taxes, and summary treatment of some rich landowners and princes, the rebellion rocked many regions of northern and central India and shook the foundations of Company rule. Although the rebellion was suppressed by 1858, it led to the dissolution of the East India Company and to the direct administration of India by the British government. Proclaiming a unitary state and a gradual but limited British-style parliamentary system, the new rulers also protected princes and landed gentry as a feudal safeguard against future unrest. In the decades following, public life gradually emerged all over India, leading eventually to the founding of the Indian National Congress in 1885.

The rush of technology and the commercialisation of agriculture in the second half of the 19th century was marked by economic setbacks?many small farmers became dependent on the whims of far-away markets. There was an increase in the number of large-scale famines, and, despite the risks of infrastructure development borne by Indian taxpayers, little industrial employment was generated for Indians. There were also salutary effects: commercial cropping, especially in the newly canalled Punjab, led to increased food production for internal consumption. The railway network provided critical famine relief, notably reduced the cost of moving goods, and helped nascent Indian-owned industry. After World War I, in which some one million Indians served, a new period began. It was marked by British reforms but also repressive legislation, by more strident Indian calls for self-rule, and by the beginnings of a non-violent movement of non-cooperation, of which Mohandas Karamchand Gandhi would become the leader and enduring symbol. During the 1930s, slow legislative reform was enacted by the British; the Indian National Congress won victories in the resulting elections. The next decade was beset with crises: Indian participation in World War II, the Congress's final push for non-cooperation, and an upsurge of Muslim nationalism. All were capped by the independence of India in 1947, but tempered by the bloody partition of the subcontinent into two states.

Vital to India's self-image as an independent nation was its constitution, completed in 1950, which put in place a sovereign, secular, and democratic republic. In the 60 years since, India has had a mixed bag of successes and failures. It has remained a democracy with civil liberties, an activist Supreme Court, and a largely independent press. Economic liberalisation, which was begun in the 1990s, has created a large urban middle class, transformed India into one of the world's fastest-growing economies, and increased its geopolitical clout. Indian movies, music, and spiritual teachings play an increasing role in global culture. Yet, India has also been weighed down by seemingly unyielding poverty, both rural and urban; by religious and caste-related violence; by Maoist-inspired Naxalite insurgencies; and by separatism in Jammu and Kashmir. It has unresolved territorial disputes with China, which escalated into the Sino-Indian War of 1962; and with Pakistan, which flared into wars fought in 1947, 1965, 1971, and 1999. The India-Pakistan nuclear rivalry came to a head in 1998. India's sustained democratic freedoms are unique among the world's new nations; however, in spite of its recent economic successes, freedom from want for its disadvantaged population remains a goal yet to be achieved.

Geography

India comprises the bulk of the Indian subcontinent and lies atop the minor Indian tectonic plate, which in turn belongs to the Indo-Australian Plate. India's defining geological processes commenced 75 million years ago when the Indian subcontinent, then part of the southern supercontinent Gondwana, began a north-eastward drift across the then-unformed Indian Ocean that lasted fifty million years. The subcontinent's subsequent collision with, and subduction under, the Eurasian Plate bore aloft the planet's highest mountains, the Himalayas. They abut India in the north and the north-east. In the former seabed immediately south of the emerging Himalayas, plate movement created a vast trough that has gradually filled with river-borne sediment; it now forms the Indo-Gangetic Plain. To the west lies the Thar Desert, which is cut off by the Aravalli Range.

The original Indian plate survives as peninsular India, the oldest and geologically most stable part of India and extends as far north as the Satpura and Vindhya ranges in central India. These parallel ranges run from the Arabian Sea coast in Gujarat in the west to the coal-rich Chota Nagpur Plateau in Jharkhand in the east. To the south the remaining peninsular landmass, the Deccan Plateau, is flanked on the west and east by the coastal ranges, the Western and Eastern Ghats respectively; the plateau contains the nation's oldest rock formations, some over one billion years old. Constituted in such fashion, India lies to the north of the equator between 6? 44' and 35? 30' north latitude and 68? 7' and 97? 25' east longitude.

India's coast is long; of this distance, belong to peninsular India and to the Andaman, Nicobar, and Lakshadweep Islands. According to the Indian naval hydrographic charts, the mainland coast consists of the following: 43% sandy beaches, 11% rocky coast including cliffs, and 46% mudflats or marshy coast.

Major Himalayan-origin rivers that substantially flow through India include the Ganges (Ganga) and the Brahmaputra, both of which drain into the Bay of Bengal. Important tributaries of the Ganges include the Yamuna and the Kosi; the latter's extremely low gradient causes disastrous floods every year. Major peninsular rivers, whose steeper gradients prevent their waters from flooding, include the Godavari, the Mahanadi, the Kaveri, and the Krishna, which also drain into the Bay of Bengal; and the Narmada and the Tapti, which drain into the Arabian Sea. Among notable coastal features of India are the marshy Rann of Kutch in western India, and the alluvial Sundarbans delta, which India shares with Bangladesh. India has two archipelagos: the Lakshadweep, coral atolls off India's south-western coast; and the Andaman and Nicobar Islands, a volcanic chain in the Andaman Sea.

The Indian climate is strongly influenced by the Himalayas and the Thar Desert, both of which drive the economically and culturally pivotal summer and winter monsoons. The Himalayas prevent cold Central Asian katabatic winds from blowing in, keeping the bulk of the Indian subcontinent warmer than most locations at similar latitudes. The Thar Desert plays a crucial role in attracting the moisture-laden south-west summer monsoon winds that, between June and October, provide the majority of India's rainfall. Four major climatic groupings predominate in India: tropical wet, tropical dry, subtropical humid, and montane.

Biodiversity

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India lies within the Indomalaya ecozone and contains three biodiversity hotspots. One of 17 megadiverse countries, it hosts 7.6% of all mammalian, 12.6% of all avian, 6.2% of all reptilian, 4.4% of all amphibian, 11.7% of all piscine, and 6.0% of all flowering plant species. Endemism is high among plants, 33%, and among ecoregions such as the shola forests. Habitat ranges from the tropical rainforest of the Andaman Islands, Western Ghats, and North-East India to the coniferous forest of the Himalaya. Between these extremes lie the moist deciduous sal forest of eastern India; the dry deciduous teak forest of central and southern India; and the babul-dominated thorn forest of the central Deccan and western Gangetic plain. Under 12% of India's landmass bears thick jungle. The medicinal neem, widely used in rural Indian herbal remedies, is a key Indian tree. The luxuriant pipal fig tree, shown on the seals of Mohenjo-daro, shaded Gautama Buddha as he sought enlightenment.

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Many Indian species descend from taxa originating in Gondwana, from which the Indian plate separated more than 105 million years before present. Peninsular India's subsequent movement towards and collision with the Laurasian landmass set off a mass exchange of species. Epochal volcanism and climatic changes 20 million years ago forced a mass extinction. Mammals then entered India from Asia through two zoogeographical passes flanking the rising Himalaya. Thus, while 45.8% of reptiles and 55.8% of amphibians are endemic, only 12.6% of mammals and 4.5% of birds are. Among them are the Nilgiri leaf monkey and Beddome's toad of the Western Ghats. India contains 172, or 2.9%, of IUCN-designated threatened species. These include the Asiatic lion, the Bengal tiger, and the Indian white-rumped vulture, which, by ingesting the carrion of diclofenac-laced cattle, nearly went extinct.

The pervasive and ecologically devastating human encroachment of recent decades has critically endangered Indian wildlife. In response the system of national parks and protected areas, first established in 1935, was substantially expanded. In 1972, India enacted the Wildlife Protection Act and Project Tiger to safeguard crucial wilderness; the Forest Conservation Act was enacted in 1980 and amendments added in 1988. India hosts more than five hundred wildlife sanctuaries and thirteen biosphere reserves, four of which are part of the World Network of Biosphere Reserves; twenty-five wetlands are registered under the Ramsar Convention.

Politics

India is the world's most populous democracy. A parliamentary republic with a multi-party system, it has six recognised national parties, including the Indian National Congress and the Bharatiya Janata Party (BJP), and more than 40 regional parties. The Congress is considered centre-left or "liberal" in Indian political culture, and the BJP centre-right or "conservative". For most of the period between 1950?when India first became a republic?and the late 1980s, the Congress held a majority in the parliament. Since then, however, it has increasingly shared the political stage with the BJP, as well as with powerful regional parties which have often forced the creation of multi-party coalitions at the Centre.

In the Republic of India's first three general elections, in 1951, 1957, and 1962, the Jawaharlal Nehru-led Congress won easy victories. On Nehru's death in 1964, Lal Bahadur Shastri briefly became prime minister; he was succeeded, after his own unexpected death in 1966, by Indira Gandhi, who went on to lead the Congress to election victories in 1967 and 1971. Following public discontent with the state of emergency she declared in 1975, the Congress was voted out of power in 1977; the just-created Janata Party, which had opposed the emergency, was voted in. Its government lasted just over three years. Voted back into power in 1980, the Congress saw a change in leadership in 1984, when Indira Gandhi was assassinated; she was succeeded by her son Rajiv Gandhi, who won an easy victory in the general elections later that year. The Congress was voted out again in 1989 when a National Front coalition, led by the newly formed Janata Dal in alliance with the Left Front, won the elections; that government too proved relatively short-lived: it lasted just under two years. Elections were held again in 1991; no party won an absolute majority. But the Congress, as the largest single party, was able to form a minority government led by P.V. Narasimha Rao.

The two years after the general election of 1996 were marked by political turmoil. Several short-lived alliances shared power at the Centre. The BJP formed a government briefly in 1996; it was followed by two comparatively long-lasting United Front coalitions, which depended on external support. In 1998, the BJP was able to form a successful coalition, the National Democratic Alliance (NDA), which under the leadership of Atal Bihari Vajpayee, became the first non-Congress government to complete a full five-year term. In the 2004 Indian general elections, again no party won an absolute majority, but the Congress emerged as the largest single party, forming a successful coalition: the United Progressive Alliance (UPA). It had the support of left-leaning parties and MPs opposed to the BJP. The UPA coalition was returned to power in the 2009 general election with increased numbers, and it no longer required external support from India's Communist parties. That year, Manmohan Singh became the first prime minister since Jawaharlal Nehru in 1957 and 1962 to be re-elected to a second consecutive five-year term.

Government

India is a federation with a parliamentary system governed under the Constitution of India, which serves as the country's supreme legal document. It is a constitutional republic and representative democracy, in which "majority rule is tempered by minority rights protected by law". Federalism in India defines the power distribution between the federal government and the states. The government abides by constitutional checks and balances. The Constitution of India, which came into effect on 26 January 1950, states in its preamble that India is a sovereign, socialist, secular, democratic republic. India's form of government, traditionally described as "quasi-federal" with a strong centre and weak states, has grown increasingly federal since the late 1990s as a result of political, economic, and social changes.

The federal government comprises three branches:

Executive: The President of India is the head of state who is elected indirectly by a national electoral college for a five-year term. The Prime Minister of India is the head of government and exercises most executive power. Appointed by the president, the prime minister is by convention supported by the party or political alliance holding the majority of seats in the lower house of parliament. The executive branch of the Indian government consists of the president, the vice-president, and the Council of Ministers?the cabinet being its executive committee?headed by the prime minister. Any minister holding a portfolio must be a member of one of the houses of parliament. In the Indian parliamentary system, the executive is subordinate to the legislature; the prime minister and his council directly responsible to the lower house of the parliament.

Legislative: The legislature of India is the bicameral parliament. It operates under a Westminster-style parliamentary system and comprises the upper house called the Rajya Sabha ("Council of States") and the lower called the Lok Sabha ("House of the People"). The Rajya Sabha is a permanent body that has 245 members who serve in staggered six-year terms. Most are elected indirectly by the state and territorial legislatures in numbers proportional to their state's share of the national population. All but two of the Lok Sabha's 545 members are directly elected by popular vote; they represent individual constituencies via five-year terms. The remaining two members are nominated by the president from among the Anglo-Indian community, in case the president decides that they are not adequately represented.

Judicial: India has a unitary three-tier judiciary, consisting of the Supreme Court, headed by the Chief Justice of India, 21 High Courts, and a large number of trial courts. The Supreme Court has original jurisdiction over cases involving fundamental rights and over disputes between states and the Centre; it has appellate jurisdiction over the High Courts. It is judicially independent and has the power both to declare the law and to strike down union or state laws which contravene the constitution. The Supreme Court is also the ultimate interpreter of the constitution.

Subdivisions

India is a federation composed of 28 states and 7 union territories. All states, as well as the union territories of Pondicherry and the National Capital Territory of Delhi, have elected legislatures and governments, both patterned on the Westminster model. The remaining five union territories are directly ruled by the Centre through appointed administrators. In 1956, under the States Reorganisation Act, states were reorganised on a linguistic basis. Since then, their structure has remained largely unchanged. Each state or union territory is further divided into administrative districts. The districts in turn are further divided into tehsils and ultimately into villages.

States: {| |- | # Andhra Pradesh # Arunachal Pradesh # Assam # Bihar # Chhattisgarh # Goa # Gujarat |

  1. Haryana
  2. Himachal Pradesh
  3. Jammu and Kashmir
  4. Jharkhand
  5. Karnataka
  6. Kerala
  7. Madhya Pradesh |
    1. Maharashtra
    2. Manipur
    3. Meghalaya
    4. Mizoram
    5. Nagaland
    6. Orissa
    7. Punjab |
      1. Rajasthan
      2. Sikkim
      3. Tamil Nadu
      4. Tripura
      5. Uttar Pradesh
      6. Uttarakhand
      7. West Bengal
      |}

      Union territories: {| |- |

      1. Andaman and Nicobar Islands
      2. Chandigarh
      3. Dadra and Nagar Haveli
      4. Daman and Diu
      5. Lakshadweep
      6. National Capital Territory of Delhi
      7. Pondicherry
      |}

      Foreign relations and military

      Since its independence in 1947, India has maintained cordial relations with most nations. In the 1950s, it strongly supported decolonisation in Africa and Asia and played a lead role in the Non-Aligned Movement. In the late 1980s, the Indian military twice intervened abroad at the invitation of neighbouring countries: a peace-keeping operation in Sri Lanka between 1987 and 1990; and an armed intervention to prevent a coup d'?tat attempt in Maldives. India has tense relations with neighbouring Pakistan; the two nations have gone to war four times: in 1947, 1965, 1971, and 1999. Three of these wars were fought over the disputed territory of Kashmir, while the fourth, the 1971 war, followed from India's support for the independence of Bangladesh. After waging the 1962 Sino-Indian War and the 1965 war with Pakistan, India pursued close military and economic ties with the Soviet Union; by the late 1960s, the Soviet Union was its largest arms supplier.

      Aside from ongoing strategic relations with Russia, India has wide-ranging defence relations with Israel and France. In recent years, it has played key roles in the South Asian Association for Regional Cooperation and the World Trade Organization. The nation has provided 100,000 military and police personnel to serve in 35 UN peacekeeping operations across four continents. It is an active participant in various multilateral forums, most notably the East Asia Summit and the G8+5. In the economic sphere, India has close relationships with the developing nations of South America, Asia, and Africa. It pursues a "Look East" policy that seeks strengthened partnerships with the ASEAN nations, Japan, and South Korea revolving around many issues, but especially those involving economic investment and regional security.

      China's nuclear test of 1964, as well as its repeated threats to intervene in support of Pakistan in the 1965 war, convinced India to develop nuclear weapons. India conducted its first nuclear weapons test in 1974 and carried out further underground testing in 1998. Despite criticism and military sanctions, India has signed neither the Comprehensive Nuclear-Test-Ban Treaty (CTBT) nor the Nuclear Non-Proliferation Treaty, considering both to be flawed and discriminatory. India maintains a "no first use" nuclear policy and is developing a nuclear triad capability as a part of its "minimum credible deterrence" doctrine. It is also developing a ballistic missile defence shield and, in collaboration with Russia, a fifth-generation fighter jet. Other major indigenous military development projects include Vikrant-class aircraft carriers and Arihant-class nuclear submarines.

      Since the end of the Cold War, India has increased its economic, strategic, and military cooperation with the United States and the European Union. In 2008, a civilian nuclear agreement was signed between India and the United States. Although India possessed nuclear weapons at the time and was not party to the Nuclear Non-Proliferation Treaty (NPT), it received waivers from the International Atomic Energy Agency and the Nuclear Suppliers Group (NSG), ending earlier restrictions on India's nuclear technology and commerce. As a consequence, India has become the world's sixth de facto nuclear weapons state. Following the NSG waiver, India was also able to sign civilian nuclear energy cooperation agreements with other nations, including Russia, France, the United Kingdom, and Canada.

      The President of India is the supreme commander of the nation's armed forces. With 1.6 million active troops, the Indian military is the world's third-largest. It comprises the Army, the Navy, the Air Force, and auxiliary forces such as the Paramilitary Forces, the Coast Guard, and the Strategic Forces Command. The official Indian defence budget for 2011 was US$36.03 billion, or 1.83% of GDP. According to a 2008 SIPRI report, India's annual military expenditure in terms of purchasing power stood at US$72.7 billion, In 2011, the annual defence budget increased by 11.6%, although this does not include funds that reach the military through other branches of government. As of 2011, India is the world's largest arms importer; in the period from 2006 to 2010, it accounted for 9% of money spent on international arms purchases. Much of the military expenditure was focused on defence against Pakistan and countering growing Chinese influence in the Indian Ocean.

      Economy

      According to the International Monetary Fund, as of 2012, the Indian economy is nominally worth US$1.843 trillion; it is the ninth-largest economy by market exchange rates, and is, at US$4.057 trillion, the fourth-largest by purchasing power parity, or PPP. With its average annual GDP growth rate of 5.8% over the past two decades, and reaching 10.4% during 2010, India is one of the world's fastest-growing economies. However, the country ranks 138th in the world in nominal GDP per capita and 129th in GDP per capita at PPP. Until 1991, all Indian governments followed protectionist policies that were influenced by socialist economics. Widespread state intervention and regulation largely walled the economy off from the outside world. An acute balance of payments crisis in 1991 forced the nation to liberalise its economy; since then it has slowly moved towards a free-market system by emphasizing both foreign trade and direct investment inflows. India's recent economic model is largely capitalist.

      The 467-million worker Indian labour force is the world's second-largest. The service sector makes up 54% of GDP, the agricultural sector 28%, and the industrial sector 18%. Major agricultural products include rice, wheat, oilseed, cotton, jute, tea, sugarcane, and potatoes. Major industries include textiles, telecommunications, chemicals, food processing, steel, transport equipment, cement, mining, petroleum, machinery, and software. In 2006, the share of external trade in India's GDP stood at 24%, up from 6% in 1985. In 2008, India's share of world trade was 1.68%; India was the world's fifteenth-largest importer in 2009 and the eighteenth-largest exporter. Major exports include petroleum products, textile goods, jewelry, software, engineering goods, chemicals, and leather manufactures. Major imports include crude oil, machinery, gems, fertiliser, and chemicals. Between 2001 and 2011, the contribution of petrochemical and engineering goods to total exports grew from 14% to 42%.

      Averaging an economic growth rate of 7.5% during the last few years, India has more than doubled its hourly wage rates during the last decade. Some 431 million Indians have left poverty since 1985; India's middle classes are projected to number around 580 million by 2030. Though ranking 51st in global competitiveness, India ranks 17th in financial market sophistication, 24th in the banking sector, 44th in business sophistication, and 39th in innovation, ahead of several advanced economies. With 7 of the world's top 15 information technology outsourcing companies based in India, the country is viewed as the second-most favourable outsourcing destination after the United States. India's consumer market, currently the world's thirteenth-largest, is expected to become fifth-largest by 2030. Its telecommunication industry, the world's fastest-growing, added 227 million subscribers during the period 2010?11. Its automotive industry, the world's second fastest growing, increased domestic sales by 26% during 2009?10, and exports by 36% during 2008?09. Power capacity is 250 gigawatts, of which 8% is renewable.

      Despite impressive economic growth during recent decades, India continues to face socio-economic challenges. India contains the largest concentration of people living below the World Bank's international poverty line of US$1.25 per day, the proportion having decreased from 60% in 1981 to 42% in 2005. Half of the children in India are underweight, and 46% of children under the age of three suffer from malnutrition. The Mid-Day Meal Scheme attempts to lower these rates. Since 1991, economic inequality between India's states has consistently grown: the per-capita net state domestic product of the richest states in 2007 was 3.2 times that of the poorest. Corruption in India is perceived to have increased significantly, with one report estimating the illegal capital flows since independence to be US$462 billion. Driven by growth, India's nominal GDP per capita has steadily increased from US$329 in 1991, when economic liberalisation began, to US$1,265 in 2010, and is estimated to increase to US$2,110 by 2016; however, it has always remained lower than those of other Asian developing countries such as Indonesia, Iran, Malaysia, Philippines, Sri Lanka, and Thailand, and is expected to remain so in the near future.

      According to a 2011 PwC report, India's GDP at purchasing power parity will overtake that of the United States by 2045. During the next four decades, Indian GDP is expected to grow at an annualised average of 8%, making it potentially the world's fastest-growing major economy until 2050. The report highlights key growth factors: a young and rapidly growing working-age population; growth in the manufacturing sector due to rising education and engineering skill levels; and sustained growth of the consumer market driven by a rapidly growing middle class. The World Bank cautions that, for India to achieve its economic potential, it must continue to focus on public sector reform, transport infrastructure, agricultural and rural development, removal of labour regulations, education, energy security, and public health and nutrition.

      Demographics

      With 1,210,193,422 residents reported in the 2011 provisional Census, India is the world's second-most populous country. Its population grew at 1.76% per annum during 2001?2011, down from 2.13% per annum in the previous decade (1991?2001). The human sex ratio, according to the 2011 census, is 940 females per 1,000 males. The median age was 24.9 in the 2001 census. Medical advances made in the last 50 years as well as increased agricultural productivity brought about by the "Green Revolution" have caused India's population to grow rapidly. India continues to face several public health-related challenges. According to the World Health Organization, 900,000 Indians die each year from drinking contaminated water or breathing polluted air. There are around 50 physicians per 100,000 Indians. The percentage of Indians living in urban areas has grown by 31.2% between 1991 and 2001. Yet, in 2001, over 70% lived in rural areas. According to the 2001 census, there are 27 million-plus cities in India, with Mumbai, Delhi, Kolkata, and Chennai being the largest. The literacy rate in 2011 was 74.04%: 65.46% among females and 82.14% among males. Kerala is the most literate state; Bihar the least.

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      India is home to two major language families: Indo-Aryan (spoken by about 74% of the population) and Dravidian (24%). Other languages spoken in India come from the Austro-Asiatic and Tibeto-Burman language families. India has no national language. Hindi, with the largest number of speakers, is the official language of the government. English is used extensively in business and administration and has the status of a "subsidiary official language"; it is important in education, especially as a medium of higher education. Each state and union territory has one or more official languages, and the constitution recognises in particular 21 "scheduled languages". The Indian Constitution recognises 212 scheduled tribal groups which together constitute about 7.5% of the country's population. The 2001 census reported that Hinduism, with over 800 million adherents (80.5% of the population), was the largest religion in India; they are followed by Muslims (13.4%), Christians (2.3%), Sikhs (1.9%), Buddhists (0.8%), Jains (0.4%), Jews, Zoroastrians, and Bah?'?s. India has the world's largest Hindu, Sikh, Jain, Zoroastrian, and Bah?'? populations, and has the third-largest Muslim population and the largest Muslim population for a non-Muslim majority country.

      Culture

      Indian cultural history spans more than 4,500 years. During the Vedic age (c. 1700?500 BCE), the foundations of Hindu philosophy, mythology, and literature were laid, and many beliefs and practices which still exist today, such as dh?rma, k?rma, y?ga, and mok?a, were established. India is notable for its religious diversity, with Hinduism, Sikhism, Islam, Christianity, and Jainism among the nation's major religions. The predominant religion, Hinduism, has been shaped by various historical schools of thought, including those of the Upanishads, the Yoga Sutras, the Bhakti movement, and by Buddhist philosophy.

      Art, architecture, and literature

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      Much of Indian architecture, including the Taj Mahal, other works of Mughal architecture, and South Indian architecture, blends ancient local traditions with imported styles. Vernacular architecture is also highly regional in it flavours.

      The earliest literary writings in India, composed between 1400 BCE and 1200 CE, were in the Sanskrit language. Prominent works of this Sanskrit literature include epics such as the Mah?bh?rata and the Ramayana, the dramas of K?lid?sa such as the Abhij??na??kuntalam (The Recognition of ?akuntal?), and poetry such as the Mah?k?vya. Developed between 600 BCE and 300 CE in South India, the Sangam literature, consisting of 2,381 poems, is regarded as a predecessor of Tamil literature. From the 14th to the 18th centuries, India's literary traditions went through a period of drastic change because of the emergence of devotional poets such as Kab?r, Tuls?d?s, and Guru N?nak. This period was characterised by a varied and wide spectrum of thought and expression; as a consequence, medieval Indian literary works differed significantly from classical traditions. In the 19th century, Indian writers took a new interest in social questions and psychological descriptions. 20th-century Indian literature was influenced by the works of Bengali poet and novelist Rabindranath Tagore.

      Performing arts

      Indian music ranges over various traditions and regional styles. Classical music encompasses two genres and their various folk offshoots: the northern Hindustani and southern Carnatic schools. Regionalised popular forms include filmi and folk music; the syncretic tradition of the bauls is a well-known form of the latter. Indian dance also features diverse folk and classical forms. Among the better-known folk dances are the bhangra of the Punjab, the bihu of Assam, the chhau of West Bengal and Jharkhand, sambalpuri of Orissa, ghoomar of Rajasthan, and the lavani of Maharashtra. Eight dance forms, many with narrative forms and mythological elements, have been accorded classical dance status by India's National Academy of Music, Dance, and Drama. These are: bharatanatyam of the state of Tamil Nadu, kathak of Uttar Pradesh, kathakali and mohiniyattam of Kerala, kuchipudi of Andhra Pradesh, manipuri of Manipur, odissi of Orissa, and the sattriya of Assam.

      Theatre in India melds music, dance, and improvised or written dialogue. Often based on Hindu mythology, but also borrowing from medieval romances or social and political events, Indian theatre includes the bhavai of Gujarat, the jatra of West Bengal, the nautanki and ramlila of North India, tamasha of Maharashtra, burrakatha of Andhra Pradesh, terukkuttu of Tamil Nadu, and the yakshagana of Karnataka. The Indian film industry produces the world's most-watched cinema. Established regional cinematic traditions exist in the Assamese, Bengali, Hindi, Kannada, Malayalam, Marathi, Oriya, Tamil, and Telugu languages. South Indian cinema attracts more than 75% of national film revenue.

      Society

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      Traditional Indian society is defined by relatively strict social hierarchy. The Indian caste system embodies much of the social stratification and many of the social restrictions found in the Indian subcontinent. Social classes are defined by thousands of endogamous hereditary groups, often termed as j?tis, or "castes". Most Dalits ("Untouchables") and members of other lower-caste communities continue to live in segregation and often face persecution and discrimination. Traditional Indian family values are highly valued, and multi-generational patriarchal joint families have been the norm in India, though nuclear families are becoming common in urban areas. An overwhelming majority of Indians, with their consent, have their marriages arranged by their parents or other family members. Marriage is thought to be for life, and the divorce rate is extremely low. Child marriage is still a common practice, more so in rural India, with more than half of women in India marrying before the legal age of 18.

      Many Indian festivals are religious in origin. The best known include Diwali, Ganesh Chaturthi, Thai Pongal, Navaratri, Holi, Durga Puja, Eid ul-Fitr, Bakr-Id, Christmas, and Vaisakhi. India has three national holidays which are observed in all states and union territories: Republic Day, Independence Day, and Gandhi Jayanti. Other sets of holidays, varying between nine and twelve, are officially observed in individual states. Traditional Indian dress varies in colour and style across regions and depends on various factors, including climate and faith. Popular styles of dress include draped garments such as the sari for women and the dhoti or lungi for men. Stitched clothes, such as the shalwar kameez for women and kurta-pyjama combinations or European-style trousers and shirts for men, are also popular. Use of delicate jewellery, modelled on real flowers worn in ancient India, is part of a tradition dating back some 5,000 years; gemstones are also worn in India as talismans.

      Indian cuisine is best known for its delicate use of herbs and spices and for its tandoori grilling techniques. The tandoor, a clay oven in use for almost 5,000 years in India, is known for its ability to grill meats to an "uncommon succulence" and for the puffy flatbread known as naan. Staple foods in the region are rice (especially in the south and the east), wheat (predominantly in the north), and lentils. Many spices which have worldwide appeal are native to the Indian subcontinent, while chili pepper, native to the Americas and introduced by the Portuguese, is widely used in Indian cuisine.

      Sport

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      In India, several traditional indigenous sports remain fairly popular, among them kabaddi, kho kho, pehlwani, and gilli-danda. Some of the earliest forms of Asian martial arts, such as kalarippayattu, musti yuddha, silambam, and marma adi, originated in India. The Rajiv Gandhi Khel Ratna and the Arjuna Award are the highest forms of government recognition for athletic achievement; the Dronacharya Award is awarded for excellence in coaching. Chess, commonly held to have originated in India as chatura?ga, is regaining widespread popularity with the rise in the number of Indian Grandmasters. Pachisi, from which parcheesi derives, was played on a giant marble court by Akbar. Tennis has become increasingly popular; this stems from the victorious India Davis Cup team and the recent successes of Indian tennis players. India has a comparatively strong presence in shooting sports, and has won several medals at the Olympics, the World Shooting Championships, and the Commonwealth Games. Other sports in which Indians have succeeded internationally include badminton, boxing, and wrestling. Football is popular in the North-East, West Bengal, Goa, Tamil Nadu, and Kerala.

      India's official national sport is field hockey; it is administered by Hockey India. The Indian national hockey team won the 1975 Hockey World Cup and have, as of 2011, taken eight gold, one silver, and two bronze Olympic medals, making it the sport's most successful team. Cricket is by far the most popular sport; the Indian national cricket team won the 1983 and 2011 World Cups, the 2007 ICC World Twenty20, and shared the 2002 ICC Champions Trophy with Sri Lanka. Cricket in India is administered by the Board of Control for Cricket in India, or BCCI; the Ranji Trophy, the Duleep Trophy, the Deodhar Trophy, the Irani Trophy, and the NKP Salve Challenger Trophy are domestic competitions. The BCCI conducts a Twenty20 competition known as the Indian Premier League. India has hosted or co-hosted several international sporting events: the 1951 and 1982 Asian Games; the 1987, 1996, an

      Source: http://article.wn.com/view/2012/01/09/Dalit_queen_statues_covered_up_for_India_poll/

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