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Saturday, January 28, 2012
Scientists Organize Elsevier Boycott
An anonymous reader writes "The academic publisher Elsevier has attracted controversy for its high prices, the practice of bundling journals for sale to libraries and its support for legislation such as SOPA and the Research Works Act. Fields medal-winning mathematician Tim Gowers decided to go public with a blog post describing how he'll no longer have anything to do with Elsevier journals, and suggesting that a public website where mathematicians and scientists could register their support for an Elsevier boycott would further the cause. Such a website now exists, with hundreds of academics signing-up so far. John Baez has a nice write-up of the problem and possible solutions."
Video: Cramer's Mad Dash
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Source: http://video.msnbc.msn.com/cnbc/46162854/
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Friday, January 27, 2012
Wall Street lower at open after GDP data (Reuters)
NEW YORK (Reuters) ? U.S. stocks fell on Friday after data showed the U.S. economy grew less than expected in the fourth quarter, while weak earnings from Ford and continued caution over Europe's debt crisis also weighed on the market.
U.S. gross domestic product expanded at its fastest pace in 1-1/2 years in the fourth quarter of 2011, the Commerce Department said, but missed forecasts. A strong rebuilding of inventories and weak spending on capital goods hinted at slower growth this year.
"Today's GDP numbers while positive indicate that the economy is not really doing all that well and (Federal Reserve) Chairman Bernanke's extreme policy may be in fact what's needed," said Michael Sheldon, chief market strategist at RDM Financial, Westport, Connecticut.
"I wouldn't be surprised to see some profit-taking at any time, given the recent rally we've had."
Ford Motor Co (F.N) shares fell 5.5 percent to $12.04 after the carmaker reported a lower-than-expected fourth-quarter profit on higher commodity costs and losses in Europe and Asia.
The Dow Jones industrial average (.DJI) was down 37.31 points, or 0.29 percent, at 12,697.32. The Standard & Poor's 500 Index (.SPX) slipped 1.47 points, or 0.11 percent, at 1,316.96. The Nasdaq Composite Index (.IXIC) was up 3.55 points, or 0.13 percent, at 2,808.83.
Euro zone finance officials voiced optimism a deal to avert a disorderly Greek default was imminent and key building blocks to resolve Europe's sovereign debt crisis were gradually fitting into place. Renewed concern about the crisis has troubled markets this week.
Procter & Gamble Co (PG.N) shares fell 0.1 percent to $64.82 after its quarterly profit plunged 49 percent as it wrote down the value of its appliance and salon professional products businesses. It also said this year's profit would come in lower than previously expected due to the strong dollar.
Chevron Corp (CVX.N) reported lower earnings as increased spending on oil and gas projects and losses at its refinery business offset gains from higher crude oil prices. The shares fell 2.4 percent to $104.01.
Juniper Networks Inc (JNPR.N) and Riverbed Technologies Inc (RVBD.O) offered gloomy first-quarter outlooks late Thursday that were below expectations. Juniper was down 8.1 percent to $20.55.
According to Thomson Reuters data, 59 percent of 152 S&P 500 companies reporting earnings as of Thursday morning beat analysts' estimates. In recent quarters, the beat rate has been 70 percent at this stage of the earnings season.
A rally from late last year that has pushed the S&P 500 up 23 percent from lows in October has left the index facing tough resistance at around the 1,330 level, which marks a four-year downtrend line from its all-time highs in 2007.
Oliver Pursche, president at Gary Goldberg Financial Services in Suffern, New York, cautioned against reading too much into recent market strength.
He cited a "volatile environment," in which "there are plenty of global issues that can derail the global economy."
Eastman Chemical Co (EMN.N) offered to buy specialty chemical maker Solutia Inc (SOA.N) for about $3.38 billion in cash and stock to extend its reach in emerging markets, particularly the Asia-Pacific region. Solutia shares rose 41 percent to $27.59.
(Editing by Jeffrey Benkoe)
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US, Philippines eye more war drills, but no bases (AP)
MANILA, Philippines ? U.S. and Filipino defense officials will discuss how to intensify joint war drills in the Philippines without re-establishing vast U.S. military bases, as America tries to reassert its presence in Asia, a Manila official said Thursday.
While America plans to station troops in Australia and dock Navy ships in Singapore, it's only looking at increasing the frequency of joint military exercises with Filipino troops in the Philippines, Defense Secretary Voltaire Gazmin said.
President Barack Obama's administration plans to enhance American presence in Asia because of the region's economic importance and China's rise as a military power. It aims to retain American military pre-eminence worldwide despite stiff budget cuts.
A Philippine delegation led by a defense undersecretary will hold strategic talks with U.S. counterparts in Washington from Thursday to Friday on a wide range of economic and defense concerns, including intensifying joint military exercises of the longtime military allies, Gazmin said.
Any additional joint military activity would conform with the 1999 Visiting Forces Agreement, a bilateral accord that allows U.S. ship visits and American troops to hold joint military exercises in the Philippines. There would be no discussion on bringing back permanent U.S. military bases in the country, he said.
U.S. ships and aircraft can be allowed to visit and resupply within the limits stated in the accord, he said.
"That agreement will prevail," Gazmin said.
The Philippine Senate voted in 1991 to close major U.S. military bases in the country. Under the 1999 agreement, hundreds of American troops were allowed to return in 2002 for military exercises and to train and arm Filipino soldiers fighting al-Qaida-linked militants in the southern Philippines. About 500 to 600 American counterterrorism troops have remained in the south.
Filipino defense officials would also discuss with their U.S. counterparts in Washington requests for an additional U.S. Coast Guard cutter, a squadron of F-16 fighter jets and other weapons the Philippines needs to bolster its territorial defense, Philippine defense spokesman Peter Paul Galvez said.
The Philippines has turned to Washington for warships, fighter jets and radar to bolster its anemic military after accusing Chinese ships last year of repeatedly intruding into areas it claims in the South China Sea's disputed Spratly Islands and disrupting oil exploration in its territorial waters.
Washington has announced that the peaceful resolution of the territorial conflicts and freedom of navigation in the South China Sea, home to some of the world's busiest shipping lanes, is in the U.S. national interest.
Several top American officials have made high-profile visits to reassure the Philippines of military support.
Sen. John McCain said in Manila last week that he did not expect any major conflict erupting between the United States and China but reiterated U.S. commitment to maintain its presence in Asia to counterbalance China's dominance. The U.S., he said, has no plans to try to re-establish its military bases in the Philippines, which adopted a constitution in 1987 that forbids the permanent basing of foreign troops.
The battle for ownership of the Spratlys has settled into an uneasy stand-off since the last fighting, involving China and Vietnam, that killed more than 70 Vietnamese sailors in 1988. The other claimants are Brunei, Malaysia and Taiwan.
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Captain America 2 Filming in 2012?
With The Avengers?owning?2012 all to itself ? along with Iron Man 3 and Thor 2 having already staked out the separate halves of 2013 as their own ? it?s been assumed that Captain America 2 is the most likely candidate to snag one of the two 2014 release dates that Marvel Studios has already claimed.
According to Captain America costar Neal McDonough, who plays the bowler-capped Dum Dum Dugan, filming on the (currently) director-less sequel is slated to begin before 2012 comes to a close. Such a move would both pave the way for Cap?s next solo venture to reach theaters by 2014 ? and, set the stage for production to begin on one of the many other?single Marvel character-centric vehicles being developed right now.
IMDB Television was chatting recently with McDonough about his new role as a sophisticated crime boss on FX?s Justified, when the actor casually revealed the following tidbit about the next Captain America flick:?They?re planning [to go into production] for the end of this year, because Marvel does one film at a time. So they?re going to do ?Thor 2??and as soon as ?Thor??has wrapped, they?ll do ?Cap 2?. Hopefully right after that, we?ll jump into ?Nick Fury??because that?s the one I?m looking forward to more than anything.?
While both a Nick Fury solo movie and S.H.I.E.L.D. flick are definite possible future Marvel endeavors, it seems more likely that only one or the other will eventually be made. More so, with other big titles like The Avengers 2?on the horizon, there?s always the chance that studio heads will ultimately hold off all the longer on producing a solo vehicle for Samuel L. Jackson?s one-eyed alter ego.
Moving on ? it sounds as though the Captain America sequel is (unofficially) set to arrive in 2014 now, even if production doesn?t begin quite as early as McDonough expects. That means the second Cap-centered movie should also be the ?big? Marvel release of that year ? with the other Marvel-marked release date being reserved for the live-action debut of a character like Ant-Man or Doctor Strange, whose respective solo vehicles are both reported to be making solid progress down the production pipeline.
Thor and Captain America team up in 'The Avengers'
Now that Avengers writer/director Joss Whedon has confirmed that the film unfolds from Cap?s perspective, it sounds as though the first Captain America?movie, The Avengers, and Captain America 2 will essentially form a direct trilogy, in terms of Steve Rogers? (Chris Evans) personal character arc.
Screenwriting duo Christopher Markus and Stephen McFeely?s previous comments about how Cap?s second solo film will largely take place in a contemporary setting make all the more sense, in that regard ? seeing how CA 2 looks to now be even more of a direct continuation of the Avengers? narrative than either the second Thor or third Iron Man?installment.
All of the aforementioned upcoming Marvel titles are going to (at the least, partially) be affected by the success of The Avengers ? which is poised to test the comic book studio?s plans, when it comes to the feasibility of creating a shared movie universe akin to that featured in Marvel?s graphic novel literature. Best to hold off and see just how everything goes down in Whedon?s superhero ensemble flick, before speculating too?much about the films that take place thereafter.
-
The Avengers hits theaters in the U.S. on May 4th, 2012.
Don?t be surprised if Marvel officially confirms Captain America 2 for a May 16th, 2014 theatrical release date ? in the near future, that is.
Source: IMDB Television (via JoBlo and Collider)
Source: http://www.rottentomatoes.com/m/1924385/news/1924385/
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Pentax Optio VS20: hold it any way you want, as long as you love it
Standing on the Hoover Dam, you're trying to encapsulate the majesty of the engineering feat before you. Turning the camera on its side, you try and get a perfect portrait shot, but find the vagaries of evolution mean your fingers won't stretch to the buttons anymore. If you've ever experienced such horrors, Pentax has the solution with its new Optio VS20 digital compact camera. The 16-megapixel camera packs an accelerometer (like Samsung's QF20) which will flip your image to the correct orientation and a second shutter release and zoom lever on the topmost side of the body for easier snapping. The company also thoughtfully included a second tripod mount, so there's no futzing with your stand required. Less exceptional features include a 3-inch LCD, automatic picture modes including fish-eye that'll appeal to the young skaters and hipsters you see littering the streets. It'll capture 1280 x 720 movies with its independent video button (also recording in fish-eye) and variable aspect ratio. It's arriving next month for $250, so if you want to become a superstar of the board, you'd better get practicing your Ollies.Continue reading Pentax Optio VS20: hold it any way you want, as long as you love it
Pentax Optio VS20: hold it any way you want, as long as you love it originally appeared on Engadget on Thu, 26 Jan 2012 07:40:00 EDT. Please see our terms for use of feeds.
Permalink | | Email this | CommentsSource: http://www.engadget.com/2012/01/26/pentax-optio-vs20/
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Thursday, January 26, 2012
Fed set to push back timing of eventual rate hike (Reuters)
WASHINGTON (Reuters) ? The Federal Reserve looks set to keep monetary policy on hold on Wednesday, even as it releases forecasts expected to show interest rates will be near zero for at least two more years.
Given recent improvement in the U.S. economy, the central bank will probably remain non-committal regarding the prospect for additional bond purchases, but will leave the door open to further action if Europe's banking problems spill over into the United States.
As part of an effort to provide more insight on its thinking to financial markets and the public, the Fed will begin publishing individual policymakers' projections for the appropriate path of the benchmark federal funds rate.
In so doing, the Federal Open Market Committee, the central bank's policy-setting arm, will probably reveal that it does not expect to begin raising rates until at least early 2014. Since August, it has only said after every policy session that it expected to keep rates ultra-low until at least mid-2013.
If the Fed can convince financial markets it will be on hold longer than they had anticipated, long-term interest rates could drop as investors price in the new information.
"A significant contingent of the committee views this exercise not so much as a process improvement but more as an opportunity to ease again via the forward rate communications channel," said Stephen Stanley, economist at Pierpoint Securities.
There is also the possibility that officials will announce an explicit inflation target, perhaps a hard marker of 2 percent or a range of 2 percent or a bit below. The Fed has been debating a statement on its long-run goals, but whether one will be released on Wednesday is unclear.
The Fed will release a statement outlining its views on the economy and monetary policy at about 12:30 p.m. The rate projections, along with regular quarterly economic forecasts, will be issued at 2 p.m.
While forecasters expect the U.S. economy grew at a 3 percent annual rate in the last three months of 2011, Fed officials will probably shy away from any explicit hints on the likelihood of further unconventional monetary easing.
However, many analysts think the recent momentum in the U.S. recovery will wane as Europe's economy falters, potentially prompting another spurt of Fed bond buying - probably one focused on mortgage debt.
Since December 2008, in response to the deepest recession in generations, the Fed slashed rates to effectively zero and also more than tripled the size of its balance sheet to around $2.9 trillion through two separate bond purchase programs.
The policy is credited with having prevented an even longer downturn, but has been insufficient to bring down unemployment to levels considered normal during good economic times.
In December, the U.S. jobless rate stood at 8.5 percent, and some 13 million Americans were still actively looking for work but could not find it.
Analysts note that the Fed's shift in communications, which has led to considerable confusion about just what exactly will be announced, will put an even greater emphasis on a post-meting news conference by Fed Chairman Ben Bernanke at 2:15 p.m.
"The chairman is likely to remain non-committal to any additional policy easing, but he is likely to reinforce the Fed's commitment to 'review the size and composition of its securities holdings' and be 'prepared to adjust those holdings as appropriate,'" said Millan Mulraine, senior macro strategist at TD Securities.
(Editing by Tim Ahmann)
Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20120125/bs_nm/us_usa_fed
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