Jan. 31, 2013 ? A new study found a high prevalence of sleep disorders and a startlingly high rate of short sleep duration among active duty military personnel. The study suggests the need for a cultural change toward appropriate sleep practices throughout the military.
"While sleep deprivation is part of the military culture, the high prevalence of short sleep duration in military personnel with sleep disorders was surprising," said Vincent Mysliwiec, MD, the study's principal investigator, lead author and chief of Pulmonary, Critical Care and Sleep Medicine at Madigan Army Medical Center in Tacoma, Wash. "The potential risk of increased accidents as well as long-term clinical consequences of both short sleep duration and a sleep disorder in our population is unknown."
Results show that the majority of participants (85.1 percent) had a clinically relevant sleep disorder. Obstructive sleep apnea (OSA) was the most frequent diagnosis (51.2 percent), followed by insomnia (24.7 percent). Participants' mean self-reported home sleep duration was only 5.74 hours per night, and 41.8 percent reported sleeping five hours or less per night. According to the AASM, individual sleep needs vary; however, most adults need about seven to eight hours of nightly sleep to feel alert and well-rested during the day.
According to the authors, this is the first study to systemically describe primary sleep disorders and associated comorbidities in accordance with standardized diagnostic criteria in a large cohort of military personnel referred with sleep complaints.
The study, appearing in the February issue of the journal SLEEP, involved a retrospective cross-sectional cohort analysis of 725 diagnostic polysomnograms performed in 2010 at Madigan Army Medical Center. Study subjects were active duty military personnel from the U.S. Army, Air Force and Navy, comprising mostly men (93.2%) and combat veterans (85.2%). Sleep disorder diagnoses were adjudicated by a board certified sleep medicine physician.
Results also show that 58.1 percent of the military personnel had one or more medical comorbidities, determined by medical record review. The most common service-related illnesses were depression (22.6%), anxiety (16.8%), post-traumatic stress disorder (13.2%), and mild traumatic brain injury (12.8%). Nearly 25 percent were taking medications for pain. Participants with PTSD were two times more likely to have insomnia, and those with depression or pain syndrome were about 1.5 times more likely to have insomnia.
"Mysliwiec and colleagues have made a significant contribution to our understanding of the link between sleep disorders and service-related illnesses associated with combat operations," Nita Lewis Shattuck, PhD, and Stephanie A.T. Brown, MS, postgraduate students at the Naval Postgraduate School in Monterey, Calif., wrote in a commentary on the study. "Their findings highlight the need for policy and culture change in our military organizations and continued research to understand and ameliorate the injuries these veterans have sustained. Better appreciation of the causal factors associated with veteran's health will lead to better policies for transition to civilian life and ultimately minimize the cost of veterans' health care to society."
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The above story is reprinted from materials provided by American Academy of Sleep Medicine, via EurekAlert!, a service of AAAS.
Note: Materials may be edited for content and length. For further information, please contact the source cited above.
Journal Reference:
Vincent Mysliwiec, Leigh McGraw, Roslyn Pierce, Patrick Smith, Brandon Trapp, Bernard J. Roth. Sleep Disorders and Associated Medical Comorbidities in Active Duty Military Personnel. SLEEP, 2013; DOI: 10.5665/sleep.2364
Note: If no author is given, the source is cited instead.
Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.
WASHINGTON (Reuters) - Blind Chinese activist Chen Guangcheng urged the United States on Tuesday not to let business concerns prevent it from pressing China over human rights, saying America must never "offer the smallest compromise" on its principles.
Chen is a self-taught legal advocate whose escape from house arrest last April and subsequent refuge in the U.S. Embassy XXX embarrassed China and led to a diplomatic tussle that ended with him leaving China to study in New York.
He used a speech at a human rights award ceremony in Washington to call on the world to hold China to account for repression and to urge ordinary Chinese to look to the example of Myanmar as they struggle to win their rights.
"I sincerely hope that everyone - petitioners, human rights workers, civil rights groups, national governments and especially the United States government - will come together to encourage progress in human rights," said Chen.
"There should be no compromise, even if there are large business interests at stake - dignity, freedom and justice are more important," he said in translated remarks read in English by actor and Tibet advocate Richard Gere.
Chen received the 2012 Tom Lantos Human Rights Prize, named after a California congressman who was the only Holocaust survivor to serve in the U.S. Congress. Lantos died in 2008.
The activist, now studying law at New York University, said he felt a "profound resonance in my heart" with Lantos from their shared experience escaping persecution and dictatorship.
"We must not only remember the atrocities of the fascists, but also recognize that today authoritarianism is firmly entrenched, and that the barbarism of the authoritarian system is the greatest threat to civilized societies," said Chen.
Chen endured 19 months of harsh house arrest in his home village in Shandong province before his escape, but said his family members and contacts continued to suffer. Chen's nephew Chen Kegui was jailed for 3 years after using knives to fend off local officials who burst into his home after Chen's escape.
"Recently, many friends and neighbors who I have been in touch with by phone have been taken into custody by the authorities for questioning. They have been threatened and made to describe what our conversations have been about," he said.
CHINESE PEOPLE "MAIN ACTORS"
The United States bore a special responsibility to uphold and promote its basic founding principles, despite economic weakness that has prompted some deference to fast-growing power China over human rights in recent years, he said.
While "it is clearly difficult to shift attention away from issues of finance and the economy, remember that placing undue value on material life will cause a deficit in spiritual life," said Chen.
"You must establish a long-term plan for human rights and not compromise on it, ever," he added.
China rejects outside criticism of its human rights record as unwarranted interference in its internal affairs.
Chen, whose dramatic escape last year won him a wide following on China's social media networks, said ordinary Chinese must be the "main actors" in achieving their rights.
"Democracy, freedom and justice don't just happen. We must strive for them through action," he said.
"Last year, Myanmar lifted the ban on political parties, and last Friday it abolished media censorship. What the people in Myanmar do, we can do, too," said Chen.
The New Hampshire-based Lantos Foundation for Human Rights and Justice has given previous annual awards to the Tibetan spiritual leader the Dalai Lama, Holocaust survivor and activist Elie Wiesel, and Paul Rusesabagina, a Rwandan hotel manager who hid and protected more 1,200 refugees during Rwanda's genocide.
NEW YORK, N.Y. - Following several delays and much anticipation, the new BlackBerrysmartphones will be unveiled this morning in New York.
Research In Motion (TSX:RIM), the company behind the once dominant smartphones, is holding a splashy event in Manhattan to usher in the new devices, which were originally due for release last year.
The debut is expected to showcase the device as well as provide key launch details.
That will likely include its release date, which is expected in the next four to six weeks, the phone's features and how much it will cost.
The company says the new BlackBerry will be released first in a touchscreen version, while a keypad alternative will follow in the weeks or months afterward.
The new phone launch is RIM's attempt to regain its position in the highly competitive North American and European smartphone markets, which are now dominated by iPhone and Android devices.
While the first hurdles to overcome are the opinions of tech analysts and investor reaction, the true measure of success ? actual sales of the phones ? is still weeks away.
The BlackBerry has dramatically lost marketshare in recent years after a series of blunders.
Several network outages left customers without the use of the smartphones they had come to rely on, while the BlackBerry's hardware hasn't received a significant upgrade in years.
RIM chief executive Thorsten Heins has already offered a glimpse of some features on the new devices. They include BlackBerry Balance technology, which allows one phone to operate as both a business and personal device entirely separate from each other.
The new BlackBerry will also let users seamlessly shift between the phone's applications like they're flipping between pages on a desk.
In the coming weeks, RIM will launch an advertising blitz to promote the phones, including aggressive social media campaigning, which includes plugs from celebrities on their Twitter accounts, and a 30-second advertisement on the Super Bowl, the most watched television program of the year.
A man cries during a protest near the Kiss nightclub where a fire killed over 230 people in Santa Maria, Brazil, Tuesday, Jan. 29, 2013. The blaze began at around 2:30 am local time on Sunday, during a performance by Gurizada Fandangueira, a country music band that had made the use of pyrotechnics a trademark of their shows. (AP Photo/Felipe Dana)
A man cries during a protest near the Kiss nightclub where a fire killed over 230 people in Santa Maria, Brazil, Tuesday, Jan. 29, 2013. The blaze began at around 2:30 am local time on Sunday, during a performance by Gurizada Fandangueira, a country music band that had made the use of pyrotechnics a trademark of their shows. (AP Photo/Felipe Dana)
A woman holds up a black banner as people protest near the Kiss nightclub where a fire killed over 230 people in Santa Maria, Brazil, Tuesday, Jan. 29, 2013. The Rio Grande do Sul state forensics department raised the death toll Tuesday from 231 to 234 to account for three victims who did not appear on the original list of the dead. Authorities say more than 120 people remain hospitalized for smoke inhalation and burns, with dozens of them in critical condition, after the Sunday nightclub fire. (AP Photo/Felipe Dana)
A makeshift memorial that include pictures of the victims of the Kiss nightclub fatal fire is seen inside the gymnasium where a collective funeral was held a day earlier, in Santa Maria, Brazil, Tuesday, Jan. 29, 2013. A fast-moving fire roared through the crowded, windowless nightclub, early Sunday, killing more than 230 people. The first funeral services were held Monday for the victims. Most of the dead were college students 18 to 21 years old, but they also included some minors. Almost all died from smoke inhalation. (AP Photo/Felipe Dana)
This photo released by Policia Civil do Rio Grande do Sul, shows the inside of the Kiss nightclub where a fire killed more than 230 people in Santa Maria city, Rio Grande do Sul state, Brazil, Tuesday, Jan. 29, 2012. The blaze began at around 2:30 am local time on Sunday, during a performance by Gurizada Fandangueira, a country music band that had made the use of pyrotechnics a trademark of their shows. (AP Photo/Policia Civil do Rio Grande do Sul)
In this photo released by Policia Civil do Rio Grande do Sul, a police officer inspects victims' belongings after a fire at the Kiss nightclub in Santa Maria City, Rio Grande do Sul state, Brazil, Tuesday, Jan. 29, 2012. The blaze began at around 2:30 am local time on Sunday, during a performance by Gurizada Fandangueira, a country music band that had made the use of pyrotechnics a trademark of their shows. (AP Photo/Policia Civil do Rio Grande do Sul)
SANTA MARIA, Brazil (AP) ? Flammable and toxic foam soundproofing on the ceiling. Just one exit for a club that could hold hundreds of people. Not a ceiling water sprinkler system in sight.
These are some of the main causes of the massive death toll in a nightclub fire in Brazil. And none broke any law, raising questions about safety regulations in a nation set to host the World Cup and Olympic Games.
Documents obtained by The Associated Press, including past building and fire safety plan permits issued to the Kiss club, where more than 230 people died within minutes in a fire early Sunday, showed that such deadly choices were within regulations.
"Do I agree with the fact that there was only one exit? No. Do I agree that the roof was covered with flammable material? No, I don't," said Maj. Gerson Pereira, an inspector with the local fire department. "I would have liked to shut down this place, but then the firefighters could be sued" because no law had been broken.
But the same documents also illustrate that other regulations were broken, including irregularities in the fire safety inspection of the club, as well as violations by the band the club hired whose pyrotechnics are blamed for causing the blaze. Police inspectors say any of these violations were reason enough to shut the club down.
One document shows that the club had already been labeled by fire officials as being at "medium" risk for having a fire. By state law, that designation requires that the club undergo annual inspections. But records show that the last inspection took place in August 2011.
Survivors of the fire have said that the club's fire extinguishers failed to work in early attempts to battle the blaze. Under state law, an extinguisher must have a receipt showing that it had been independently inspected within a year in order for it to be acceptable.
Marcelo Arigony, the lead police investigator in the case, said in a Tuesday press conference that it was clear the fire extinguishers had not been inspected and that they were clearly cheap models that should not be used anywhere.
Perhaps most egregious was what authorities point to as the cause of the fire, whose death toll rose to 235 when a young man died of burn injuries late Tuesday.
The blaze began at around 2:30 a.m. local time during a performance by Gurizada Fandangueira, a country music band that had made the use of pyrotechnics a trademark of their shows. The band's guitarist told media that the 615-square-meter (6,650-square-foot) club was packed with an estimated 1,200 to 1,300 people, the same estimate police have given. Capacity for the club, however, is under 700.
Police said that members of the band knowingly bought flares meant for outdoor use because they cost a mere $1.25 a piece, compared with the $35 price tag for an indoor flare.
"It's not that this club was working to come within this or that law ? the place should have never been open in the first place," Arigony said. "This is a problem that is seen across Brazil, these laws. I can only hope this tragedy brings about change."
Jaime Moncada, a U.S.-based fire-safety consultant with nearly three decades experience in Latin America including large projects in Brazil, said he was not surprised that one exit was permissible under local law.
Shown a blueprint of the club obtained by the AP, he calculated that the farthest point from the front door was 105 feet (32 meters), and regulations in most Brazilian states dictate that a second exit is required only if the distance is 131 feet (40 meters) or more.
For the same reason of distance, Moncada said sprinklers and alarms would not be required.
"For an American audience, it is crazy to think that a place would have only one exit," he said.
In Brazil, he added, that would be the norm.
In the United States, the club would have failed an inspection in at least three ways, according to Moncada: Three separate exits would have been required; the foam would need to be treated with a fire retardant; and it would need sprinklers.
Brazil is the globe's fifth-largest economy by some measures, but it lags far behind others in terms of fire safety standards, according to several fire-safety experts with experience here.
One reason: State laws are written by fire-fighting officials who do not seek input from engineers specializing in areas such as fire dynamics, how flames affect different materials and computer models that can devise the best evacuation procedures, according to Rodrigo Machado Tavares, an engineer and fire-safety consultant based in Sao Paulo.
What's more, state, city and expert groups can offer conflicting suggestions.
In Sao Paulo ? where a series of large fires in the 1970s prompted an early round of safety regulations that became a model nationally ? there are three ways to calculate how wide a staircase needs to be for safe evacuation, Tavares said.
"You'll get three different numbers; it's very confusing," he said.
And enforcement often is lacking. In academic research, Tavares found that in the northeastern port city of Recife, most buildings do not have the required fire alarms. It's the same in much of Brazil, he said.
Amid the shock of what was the world's deadliest nightclub fire in a decade, changes in Brazil seemed on the horizon.
In Brasilia, the nation's capital, lawmakers in the lower house worked on a proposal that would require federal safety minimum standards across Brazil. Now states individually create such laws. The O Globo newspaper reported on its website that the mayor's office in Santa Maria ordered all nightclubs closed for 30 days while inspections are carried out.
Elsewhere, the government of the country's biggest city, Sao Paulo, set to host the opening match of the 2014 World Cup, promised tougher security regulations for nightclubs.
The Folha de S. Paulo newspaper reported that in Manaus, which will also host World Cup matches, nightclubs with empty fire extinguishers and unmarked emergency exits have been shut down and fined. And in Olympic host city, Rio de Janeiro, a consumer complaint hotline has received more than 60 calls since Sunday's tragedy denouncing hazardous conditions at night spots, theaters, supermarkets, schools, hospitals and shopping malls.
Outraged citizens in Santa Maria are demanding change.
Elise Parode, an 18-year-old student taking part in a protest before City Hall, chanted with all her might along with about 500 others, pushing up against the door of the building as municipal guards kept them from entering.
"We want justice! We want the government held accountable, just like the owners of the bar!" she yelled as the crowd around held aloft poster-size photos of the fire's victims. "Our own government doesn't know the laws ? we're not safe until they do."
___
Associated Press writers Bradley Brooks in Santa Maria and Justin Pritchard in Los Angeles contributed to this report.
A popular dog treat, the "bully stick," could be adding more calories than pet owners realize and possibly be contaminated by bacteria, according to a study published this month by researchers at the Cummings School of Veterinary Medicine at Tufts University and the University of Guelph. Credit: Tufts University
A popular dog treat could be adding more calories than pet owners realize, and possibly be contaminated by bacteria, according to a study published this month by researchers at the Cummings School of Veterinary Medicine at Tufts University and the University of Guelph.
The treat in question: the "bully" or "pizzle stick." The American and Canadian researchers analyzed the caloric density and bacterial contamination of these popular items, made from the uncooked, dried penis of a bull or steer. They also administered a survey to pet owners to assess their knowledge of these treats.
The study, published in the January 2013 issue of the Canadian Veterinary Journal, examined 26 bully sticks purchased from retailers in the United States and Canada and made by different manufacturers.
A random subset of the 26 bully sticks was tested for caloric content. These bully sticks tested contained between nine to 22 calories per inch, meaning the average six inch stick packed 88 calories?nine percent of the daily calorie requirements for a 50-pound dog, and 30 percent of the daily calorie requirements for a 10-pound dog.
"While calorie information isn't currently required on pet treats or most pet foods, these findings reinforce that veterinarians and pet owners need to be aware of pet treats like these bully sticks as a source of calories in a dog's diet," said Lisa M. Freeman, DVM, PhD, DACVN, professor of nutrition at TCSVM who is board-certified by the American College of Veterinary Nutrition.
Freeman was first author on the paper. Co-authors were J. Scott Weese, professor in the Department of Pathobiology at the University of Guelph, and Nicol Janecko, a research associate at the Canadian university.
"With obesity in pets on the rise, it is important for pet owners to factor in not only their dog's food, but also treats and table food," Freeman added.
All 26 treats were tested for bacterial contaminants. One (4 percent) of the sticks was contaminated with Clostridium difficile; one (four percent) was contaminated with methicillin-resistant Staphylococcus aureus (MRSA), a type of staph bacteria that is resistant to certain antibiotics; and seven (27 percent) were contaminated with Escherichia coli, including one tetracycline-resistant sample.
The number of treats sampled was small and not all of these bacterial strains have been shown to infect humans. However, the researchers advise all pet owners to wash their hands after touching such treats, as they would with any raw meat or raw meat diets. The very young, elderly, pregnant, immunocompromised and other high-risk individuals should avoid all contact with raw animal-product based treats and raw meat diets, note the scientists.
To learn more about veterinarian and pet owner perceptions of dog foods and treats, the research team developed a 20-question Web-based survey. The survey was posted online for public participation for 60 days and all responses were anonymous. It was completed by 852 adults from 44 states and six countries. Most respondents were female dog owners.
"We were surprised at the clear misconceptions pet owners and veterinarians have with pet foods and many of the popular raw animal-product based pet treats currently on the market," said Freeman. "For example, 71 percent of people feeding bully sticks to their pets stated they avoid by-products in pet foods, yet bully sticks are, for all intents and purposes, an animal by-product."
Another surprising finding was the large number of people who did not know what bully sticks actually were. A higher proportion of veterinarians (62 percent) were able to correctly identify the source of bully sticks as bull penis compared to general respondents (44 percent). Twenty-three percent of the respondents fed their dogs bully sticks.
Further research with a larger sample size is needed to determine whether the calorie content and contamination rate found in this study is representative of all bully sticks, or other types of pet treats, according to the authors.
More information: Freeman LM, Janecko N, Weese JS. Nutritional and microbial analysis of bully sticks and survey of opinions about pet treats. Canadian Veterinary Journal. 2013; 54: 50-54.
It?s a fact of life: we?re going to die. God willing, we will be granted many long and happy years, and meet our end peacefully, surrounded by loved ones, ready to enter the presence of our Lord.
We are reminded far too often that death isn?t that cooperative. It can be sneaky and unkind. It is also indiscriminate, visiting the unprepared and the knowing in equal measure. It leaves grief, anger, confusion, and division in its wake, but that doesn?t stop it from ravaging families or entire communities.
Death makes us uncomfortable. We try to escape its inevitability through denial or vitamins. We believe we can transcend fate, as written in some of our great poetry ?Though lovers be lost, love shall not, and death shall have no dominion? ~ Dylan Thomas.
Thomas was absolutely right ? love ultimately conquers all, and our physical, earthly death is a new birth into eternal life. And yet, death is an unavoidable reality we have to face. This isn?t a topic I was excited to write about. We?ve just concluded our Christmas feasting; we?ve entered a new year of hope and promise, a Year of Faith. And yet, I feel very strongly the need to encourage you to prepare yourselves well for death.
Do all you can now in order to have a holy death. Pray, receive the sacraments, make your peace each day with God, beg the intercession of St. Joseph asking him to be with you in your moment of dying.
Do all you can now in order to have a peaceful death, whether you expect it or not.? Don?t leave forgiveness and reconciliation for tomorrow. Don?t leave the important things unsaid.
Do all you can now in order to have a quiet death. Don?t leave chaos and confusion behind you. Set your affairs in order now. Make provision for your children, settle your property, clean house. Make sure the pertinent people know where the paperwork is. Make your wishes known if you have strong feelings about your funeral and burial. If possible, make arrangements now for a burial plot. Ensure your finances are sorted in such a way that there will be no undue hardship for those who may need access to accounts, passwords, contracts.
This isn?t a morbid insistence that we all live in fear of an imminent death. A week before Christmas, the daughter of a friend died from cancer more quickly than anyone thought. Her husband and two young children had to make difficult decisions in the midst of their shock and grief. Not long ago, my friend?s mom died, again, unexpectedly. It?s taken my friend two years to sort through everything her mother left behind, all the collections, papers, files, all the ?just in case? stuff her mom couldn?t bring herself to get rid of. Instead, my friend had two years of physical labour and emotional turmoil, the constant decisions about whether to keep or where to dispose of the things that were inextricably linked to her mother?s memory.
This is not about guilt trips. I want to share my own experience. My dad died four years ago, on December 28. Two years prior to that, we discovered he had a condition that would ultimately end his life. It wasn?t until that September that we were told point-blank the bald fact: he was going to die, and fairly soon.? At the time, it was the cruelest news anyone could have given us. It turns out to have been the greatest blessing because we were able to do all those things I encouraged you to do above.
My dad was ready spiritually. He was completely at peace and was able to put himself with utter trust into the hands of Our Lady, and had no hesitation about where he was at with God. He was able to write notes for my mom about things he wanted her to know ? even how to use her mirrors when navigating the car. Never a terribly demonstrative or communicative man, he left me in no doubt as to his love for me, and I am so very, very grateful I was able to do the same for him. I didn?t want to let him go, but I could do so without regrets. He and mom bought their burial plots, selected his casket. He had his estate in order and talked it through with his executor ? and still the endless forms and phone calls and notifications after his death were difficult and seemingly endless. I can?t imagine having to do any of that while we were reeling with grief.
There is no need to be afraid of dying. We know our God is a loving, merciful Father. He has provisioned us with all we need to avail ourselves of His mercy, His grace. He has also blessed us with practicality and wisdom. Let?s make use of all His gifts to make sure that we and those we love, are prepared for a holy death.
HONG KONG (Reuters) - Goldman Sachs launched a sale of about $1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China on Monday, according to a source with knowledge of the deal.
Goldman, looking to reduce further its stake in the world's largest bank, offered the shares in ICBC at HK$5.77 each, equivalent to a discount of 3 percent to Monday's close of HK$5.95, added the source, who was not authorized to speak publicly on the matter.
The U.S. bank has held a stake in ICBC since 2006.
The sale would be Goldman's second in less than a year, after the New York-based investment bank raised $2.5 billion from a partial selldown of ICBC in April of 2012, most of which was bought by Singapore state investor Temasek .
The sale last year was part of an effort by Goldman to derisk, Chief Financial Officer David Viniar said at the time. The deal left Goldman with a stake valued at about $2 billion in April last year.
Shares of ICBC have gained about 18 percent since the previous Goldman sale, in line with the performance of the Hang Seng Financial Index <.hshfi>.
(Reporting by Michael Flaherty and Elzio Barreto; Editing by Robert Birsel and Hans-Juergen Peters)
AngelList continues to add compelling features to its service that matches early-stage startups with investors. The platform just debuted a new tool that will show new customer counts in a given time, and show which startups are trending by customer count.
The Super Bowl is known for unpredictable half-time shows, fabulous TV commercials and, of course, football. But how about energy savings?
Opower, an energy consulting firm, compared the electricity use of 145,000 American households during last year?s Super Bowl with consumption on other winter Sundays when the weather was similar. Power use was down by as much as 7.7 percent, depending on the region of the country. And in the West, where the game ended early in the evening, electricity consumption was depressed until bedtime.
The precise reasons are hard to identify, but apparently the increased reliance on some appliances ? running a big-screen TV, opening and closing the refrigerator ? were outweighed by other changes in routine, like not running the clothes dryer or the vacuum cleaner.
?With so many people glued to the couch during the game, fewer households are using electricity for cooking, cleaning or anything else other than watching the tube,? wrote Barry Fischer, who edits Opower?s blog. And viewers tend to gather in front of just one screen, something he refers to as TV pooling.
Sometimes the watchers are from several households, so one family may fire up a big-screen TV while other houses are empty, he pointed out.
In some ways, the notion evokes Earth Hour, if without the noble intent. During Earth Hour, an event scheduled this year on March 23 at 8:30, households are encouraged to turn off nonessential lights.)
The energy savings over the three and a half hours of the football broadcast could be worth upwards of $3.1 million, the company said. However, some of the energy use could simply be shifted to another time ? like the laundry chore ? and the study does not attempt to calculate whether extra gasoline was burned, or extra natural gas was used to bake all those chicken wings.
Using smart meters, the study measured the consumption of 91,355 households in the West and 54, 574 in the East. The lowest usage was at halftime, and the average drop at halftime was 5 percent, OPower said.
While traditional meters give utilities 12 monthly readings, smart meters usually take readings every 15 minutes, yielding 35,000 data points a year, Mr. Fischer said. Optimally, the data is used not to track Super Bowl patterns, of course, but to find strategies for encouraging energy conservation during peak demand times, when electricity is costly.
Please join the Blind Brook Board of Education for a presentation on the results of Blind Brook's commissioned Special Education Review. Dr. Jackie Taylor, consultant and former Superintendent of the Byram Hills School District in Armonk and Mr. Harry Burg Director of Pupil Personnel Services, will share the information and participate in a round table discussion with the BOE. The Superintendent will provide an update on safety and security. In addition, there will be an 8th grade English class presentation on the New Writing Workshop led by Ms. Cher Treacy. Sam George, a 7th grader, will receive the National Geographic Geography Bee Champion Medal.
The Board of Education will convene at 7:15 pm in the H.S. Faculty Room and is expected to immediately adjourn to Executive Session to discuss Teacher and Support Related Personnel contract negotiations, a matter regarding pending litigation and tenure recommendation.
The Board is expected to reconvene in public session at 8:00 pm in the Monroe E. Haas Instructional Media Center (H.S. Library).
Upcoming meetings include the Superintendent's proposed budget presentation on February 25th.
JERUSALEM (AP) ? A senior Israeli Cabinet minister has warned that the transfer of Syria's chemical weapons to Hezbollah guerrillas in Lebanon could trigger an Israeli attack.
Vice Prime Minister Silvan Shalom confirmed to Israel's Army Radio that top security officials held a special meeting last week to discuss Syria's chemical weapons arsenal.
Israel has long expressed concerns that embattled Syrian President Bashar Assad, clinging to power after a 22-month civil war, could lose control over his chemical weapons. Shalom says the transfer of weapons to groups hostile to Israel, particularly Hezbollah, would cross a "red line."
"It would be crossing a line that would demand a different approach, including even action," he said. Asked whether this might mean a pre-emptive attack, he said: "We will have to make the decisions."
I have written often about fake "family coats of arms" that are sold by shady vendors. In fact, there is no such thing as a "family coat of arms" in the English speaking world. I believe the same is true in most European countries although I have focused my articles mostly on the English-speaking countries for one simple reason: I can read their rules and regulations. I have a tougher time with other languages so I am reluctant to write about the procedures in other countries.
Now Anne Morddel has written an interesting article (in English) about coats of arms in France. What I really like is that she tells how to check the validity of French coats of arms, using a number of resources available in the Cabinet des Titres that has been microfilmed and can be viewed at the Richelieu building at Biblioth?que nationale de France in Paris.
I especially enjoyed her report of the fraudulent work of Jean de Launay, who was put to death for selling fake arms and fake "proofs" of nobility. Maybe we should use the same punishment today for anyone selling bogus so-called "family coats of arms."
You can read Anne Morddel's article, The Cabinet des Titres, at http://goo.gl/bpUVj.
My thanks to newsletter reader Pauline Cusson for telling me about this resource.
Global hotel company InterContinental Hotels Group is opening of the Holiday Inn Express Philadelphia NE ? Bensalem following extensive renovations.
Features of the new property are in line with the $1 billion Holiday Inn global brand relaunch which has created a more contemporary brand image as part of the drive to increase quality and consistency across the global portfolio. The programme focuses on arrival and welcome services, guestroom and guest bath comfort and a redesigned logo and signage.
?Holiday Inn Express hotels are designed to be the smart choice for value-conscious business and leisure travelers,? said Jim Anhut, senior vice president, Brand Management, The Americas, IHG.?
?With more than 2,100 properties worldwide and 440 more in the pipeline, the Holiday Inn Express brand continues to provide our guests with an enhanced-stay experience at a great value.? We are proud to welcome the Holiday Inn Express Philadelphia NE ? Bensalem into the Holiday Inn family with its brand-new sign and everything it represents.?
The 141-room, three-story hotel provides a variety of amenities - including an outdoor pool, a 24-hour fitness center, a meeting room and a 24-hour business center.
The new hotel also offers guests a comfortable stay with innovative, preferred-guest upgrades to ensure a pleasurable experience. Guest rooms feature contemporary styling, a 42-inch HD flat screen TV, iPod docking station, comfortable queen or king-sized beds, a sitting area with a lounge chair and an in-room coffee machine featuring complimentary Smart Roast 100% Arabica coffee.
Business travelers will find large desks with ergonomic chairs, free high-speed internet access both in the rooms and throughout the hotel, and free local phone and toll free, phones with private voicemail and complimentary USA TODAY? newspapers. The complimentary Express Start? breakfast bar features a full range of breakfast items, including a rotation of egg and meat selections, biscuits, yogurt, fruit, pancakes, the brand?s proprietary cinnamon roll, and Smart Roast? coffee.
?We?re pleased to be joining the Holiday Inn brand family and to be able to offer visitors to the ?City of Brotherly Love? outstanding service and a great value in a convenient location,? said General Manager Joanne Johnston. ?Holiday Inn Express is a fresh brand that we believe fits well with the needs of visitors to the Philadelphia area,.?
The hotel is situated near the office of Kraft Foods, Holy Family University andthe Franklin Mills? Mall. Those visiting the Philadelphia area for leisure will discover that many of the area?s historic attractions such as Independence Hall and the Liberty Bell, are just a short drive away. Nearby Bucks County features historic buildings and sites, museums and outdoor recreation in Pennsylvania?s beautiful countryside
The SimplySmart? shower incorporates a proprietary Stay Smart? Kohler showerhead, a signature shower curtain with curved rod, upgraded 100 percent cotton terry towels and a custom line of cinnamon-scented bath products. Guests will enjoy the SimplySmart? bedding collection, where they will find crisp fresh bedding that features an attractive decorative throw, a medium-weight duvet blanket and soft, 200 thread-count sheets.
Located at 1329 Bristol Pike, the hotel is centrally situated in suburban Bensalem midway between downtown Philadelphia and historic Bucks County. Directly off Interstate 95, the new Holiday Inn Express is just 16 miles from Philadelphia?s historic district and 30 miles from Philadelphia International Airport.
George R.R. Martin announced on Tuesday that he's co-edited a new anthology called Dangerous Women.
According to the publisher Tor, Martin's contribution to the book, The Princess and the Queen, is a novella set in the Song and Ice and Fire world that "will reveal the origins of the Targaryen Civil War, otherwise known as 'The Dance of the Dragons.' A war that split a then fledgling Westeros in two, pitting Targaryen against Targaryen and dragon against dragon."
You can see more in the video at the top of the post. A publishing date has not been announced.
Are you excited about the new novella? Let us know in the comments!
I just finished reading a great new book by Michael Saylor entitled ?The Mobile Wave.?Lots of great background emerging technology as well as some astounding predictions about our near and distant future.?
One observation in Saylor?s book that really stuck with me was the absolute power ?of social networking. He suggests watching a group of teens hanging out at your local shopping mall. One will be talking, another one will be listening, still another will be texting, and the fourth will be using a smartphone to connect to the Internet.?
Yet, while they are differently engaged, each of them will be taking an active ?part in the same conversation. The talker and the listener are discussing which movie to see. The texter is communicating with distant friends about their plans. The one on the Internet is posting a summary of the conversation to her Facebook page, as well as simultaneously checking out the times of the movies at a local theatre. Their mobile technology is deeply embedded into their consciousness?an integral part of their lives and ?immediate social activities. Mobile software can be used in every moment of daily activity, whenever and wherever it needs to be available.
But for many of the older generations, it?s difficult to fathom what?s really going on here because it is not their world. Saylor suggests you watch a group of business people at a meeting. With the traditional model, each person will be talking or listening, and when a topic comes up that requires outside information, someone will say, ?I?ll get back to you on that,? or ?I?ll email him later and find out.?
The decision making slows down or grinds to a halt. With desktop computers, people get their information and communications only when they visit their desk. Even software on the laptop is not a replacement for mobile software since it requires participants to be seated, with Internet access and a fully booted-up computer, and it superimposes onto a screen in between all participants. Imagine what it would mean when decision-making information is always available during the course of any business conversation.
?
via CBC
Marketing experts and professors believe universities aren?t working fast enough to include social media in their business curriculum.
Using Facebook and Twitter is one thing but being an expert in it is another, said one University of Windsor marketing professor.
Vincent Georgie said businesses are hungry for social media marketing graduates. However, schools are struggling to work it into their curriculum.
?It?s definitely being worked in, it?s just not being worked in fast enough,? he said. ?By and large, it?s something that changes quickly. By the time you get a curriculum up, it?s already pass?.?
At its Odette Leadership Symposium later this month, the Odette School of Business at the University of Windsor will offer a session entitled ?Social Media: Implications of Facebook, Twitter, YouTube and LinkedIn.?
The university also offers a new media studies course, which devotes some time to social media platforms like Twitter and Facebook. A computer science course entitled social media and mobile technology for end users is also offered.
Katie Stokes, co-founder of Blab! Media in Windsor, Ont., can relate to the lack of educational options when it comes to social media.
?When I graduated, there were no courses on social media,? she said.
She and Jessica Apolloni started their company in 2010.
Every morning, they scour the internet for new and changing social media platforms they can provide to small- and medium-sized business clientele that are looking to use social media to market product and services.
?By and large, it?s something that changes quickly. By the time you get a curriculum up, it?s already pass?.?
Stokes said when she first started, there wasn?t much appetite for social media in business.
?They almost saw it as a fad, so they figured if they waited for long enough, it wouldn?t be important anymore,? Stokes said. ?Fast-forward, now we?re getting those same people coming back to us in panic mode saying we know this is important and we have to get into this.?
Since then the company and the business world?s acceptance of social media has grown. Social media is slowly becoming the vehicle of choice.
Ford to hire tech savvy workforce
Ford Motor Co. plans to hire 2,200 salaried workers in the U.S. this year, the largest increase in new salaried workers in more than a decade.
Of those new hires, approximately a third will be in product development, manufacturing and information technology.
To get the tech-savvy men and women they are looking for, Ford is focusing on using social media to make the hires.
?Interested candidates are encouraged to follow Ford recruitment on key networking sites, including Twitter and Facebook,? a media release read in part. ?Individuals who ?like? the Ford Careers Facebook page and follow Ford Careers on Twitter will receive regular updates about new career opportunities at Ford Motor Company.?
Ford?s Scott Monty said the company is simply changing with the times.
?Word of mouth is so important,? he said. ?When you look around at how people are getting info these day, they?re getting it digitally. Digital word of mouth is a turbo-charged version of that.?
Monty said it?s not just the company?s white-collar workforce that?s wired in.
?Digital and social [media] touch everyone. Your factory workers have smart phones and are using social media as much as the rest of us are,? he said.
So are the company?s customers.
?We?ve been very successful using social media as far as communications and marketing goes. We?re using it more now for customer service as our customers actually flag us [about issues] on social media sites,? Monty said. ?Now, we?re expecting to roll social [media] out to more areas of the company, like product development.
?What a great way to have a 24/7 focus group,to be able to interact with people who are giving you feedback on the products that you?re putting out there.?
Stokes applauds Ford?s move.
?I think it?s important that larger companies like Ford set the bar high like that,? she said. ?It?s something all businesses should look for in employees.?
Temple scientists find cancer-causing virus in the brain, potential connection to epilepsyPublic release date: 24-Jan-2013 [ | E-mail | Share ]
Contact: Jeremy Walter Jeremy.Walter@tuhs.temple.edu 215-707-7882 Temple University Health System
The virus becomes a potential new target for treating a common form of childhood epilepsy
(Philadelphia, PA) - Researchers at Shriner's Hospital Pediatric Research Center at the Temple University School of Medicine, and the University of Pennsylvania have evidence linking the human papillomavirus 16 (HPV16) the most common cause of cervical cancer to a common form of childhood epilepsy. They have shown for the first time that HPV16 may be present in the human brain, and found that when they added a viral protein to the brains of fetal mice, the mice all demonstrated the same developmental problems in the cerebral cortex associated with this type of epilepsy, called focal cortical dysplasia type IIB (FCDIIB). The findings suggest that the virus could play a role in the development of epilepsy.
The results also mean that doctors may have to re-think their approach to treating this type of epilepsy, and perhaps consider other therapeutic options related to HPV, an infectious disease.
"This is a novel mechanism, and it fills a gap in our understanding about the development of congenital brain malformations," said Peter Crino, MD, PhD, Professor of Neurology at Temple University School of Medicine, and a member of Shriner's Hospital Pediatric Research Center, and the senior author of a recent report in the Annals of Neurology.
"If our data are correct, future treatment of cortical dysplasia could include targeted therapy against HPV16 infection, with the goal of halting seizures. Identifying an infectious agent as part of the pathogenesis of brain malformations could open up an array of new therapeutic approaches against various forms of epilepsy."
FCDIIB is a developmental malformation in the cerebral cortex, the area of the brain that plays key roles in thought, perception and memory. It is a common cause of both pediatric and adult epilepsy especially difficult-to-treat forms of epilepsy and it is thought to occur in the womb during early brain development. The condition is characterized by a disorganized cellular structure and enlarged, "balloon cells." Current treatments include surgery and medication.
Balloon cells contain a signaling cascade called the mammalian target of rapamycin complex 1 (mTOR1), which is important for cellular growth, proliferation and division, particularly in brain development. Other scientists have recently found the mTOR pathway is activated by the HPV16 E6 oncoprotein.
While there had never been any studies indicating that HPV16 could infect the brain, Dr. Crino saw a potential connection. "This is a sporadic, congenital brain malformation associated with mTOR signaling with no genetic predisposition," he said. "Based on various cellular and cell signaling similarities between cervical dysplasia and focal cortical dysplasia, this led me to a hypothesis that the HPV protein could be detected in FCDIIB."
To find out, the investigators first examined FCDIIB tissue samples from 50 patients for evidence of the HPV16 E6 protein. They found that all of the samples were positive for the protein in the balloon cells, but not in regions without balloon cells or in 36 control samples from healthy individuals.
They next examined the samples' genetic material by several sophisticated molecular techniques to look for evidence of HPV16 E6, and compared the findings to tissue from healthy controls and tissue from patients with different types of brain malformations and epilepsy. Again, every sample of FCDIIB was found to contain HPV16 E6 protein, whereas the control specimens and tissue from other types of dysplasia and conditions did not.
Finally, in a series of experiments, the scientists painstakingly delivered the E6 protein into the brains of fetal mice. "If E6 is the causative element for HPV cervical dysplasia and focal cortical dysplasia, putting the protein into a fetal mouse brain should disrupt the cortical development," Dr. Crino explained. When the scientists did this, they found that the fetal mouse brains did indeed develop brain malformations.
Dr. Crino plans to investigate other forms of cortical dysplasia to see if HPV or related viral proteins can be found. He and his team aren't sure how the virus gets into the brain, but their results suggest that an HPV infection in the placenta could be one possible path. The exact mechanism by which HPV16 might cause a malformation and epilepsy remains to be determined. He acknowledged several potential implications from the findings.
"We are going to have to think about this epidemiologically as an infectious disease, not a genetic disorder. In terms of prevention, with current HPV vaccination, we have a potentially modifiable disease," he said. "In addition, if in fact this type of epilepsy represents a disorder of mTOR signaling, then one strategy could be, rather than treating the patients with anti-epileptic drugs, is to perhaps use mTOR inhibitors.
"The million dollar result would be to show it is possible to induce a brain malformation with an E6 infection, and the animal develops epilepsy," Dr. Crino said. "It would be even better if we showed that it is preventable."
###
Other investigators contributing to this research include Julie Chen, Victoria Tsai, Whitney E. Parker, and Marianna Baybis, University of Pennsylvania; and Eleonora Aronica, University of Amsterdam, The Netherlands.
This research was supported by Citizens United for Research in Epilepsy and the National Epilepsy Fund.
About Temple Health
Temple Health refers to the health, education and research activities carried out by the affiliates of Temple University Health System and by Temple University School of Medicine.
Temple University Health System (TUHS) is a $1.4 billion academic health system dedicated to providing access to quality patient care and supporting excellence in medical education and research. The Health System consists of Temple University Hospital (TUH), ranked among the "Best Hospitals" in the region by U.S. News & World Report; TUH-Episcopal Campus; TUH-Northeastern Campus; Fox Chase Cancer Center, an NCI-designated comprehensive cancer center; Jeanes Hospital, a community-based hospital offering medical, surgical and emergency services; Temple Transport Team, a ground and air-ambulance company; and Temple Physicians, Inc., a network of community-based specialty and primary-care physician practices. TUHS is affiliated with Temple University School of Medicine.
Temple University School of Medicine (TUSM), established in 1901, is one of the nation's leading medical schools. Each year, the School of Medicine educates approximately 720 medical students and 140 graduate students. Based on its level of funding from the National Institutes of Health, Temple University School of Medicine is the second-highest ranked medical school in Philadelphia and the third-highest in the Commonwealth of Pennsylvania. According to U.S. News & World Report, TUSM is among the top 10 most applied-to medical schools in the nation.
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?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
Temple scientists find cancer-causing virus in the brain, potential connection to epilepsyPublic release date: 24-Jan-2013 [ | E-mail | Share ]
Contact: Jeremy Walter Jeremy.Walter@tuhs.temple.edu 215-707-7882 Temple University Health System
The virus becomes a potential new target for treating a common form of childhood epilepsy
(Philadelphia, PA) - Researchers at Shriner's Hospital Pediatric Research Center at the Temple University School of Medicine, and the University of Pennsylvania have evidence linking the human papillomavirus 16 (HPV16) the most common cause of cervical cancer to a common form of childhood epilepsy. They have shown for the first time that HPV16 may be present in the human brain, and found that when they added a viral protein to the brains of fetal mice, the mice all demonstrated the same developmental problems in the cerebral cortex associated with this type of epilepsy, called focal cortical dysplasia type IIB (FCDIIB). The findings suggest that the virus could play a role in the development of epilepsy.
The results also mean that doctors may have to re-think their approach to treating this type of epilepsy, and perhaps consider other therapeutic options related to HPV, an infectious disease.
"This is a novel mechanism, and it fills a gap in our understanding about the development of congenital brain malformations," said Peter Crino, MD, PhD, Professor of Neurology at Temple University School of Medicine, and a member of Shriner's Hospital Pediatric Research Center, and the senior author of a recent report in the Annals of Neurology.
"If our data are correct, future treatment of cortical dysplasia could include targeted therapy against HPV16 infection, with the goal of halting seizures. Identifying an infectious agent as part of the pathogenesis of brain malformations could open up an array of new therapeutic approaches against various forms of epilepsy."
FCDIIB is a developmental malformation in the cerebral cortex, the area of the brain that plays key roles in thought, perception and memory. It is a common cause of both pediatric and adult epilepsy especially difficult-to-treat forms of epilepsy and it is thought to occur in the womb during early brain development. The condition is characterized by a disorganized cellular structure and enlarged, "balloon cells." Current treatments include surgery and medication.
Balloon cells contain a signaling cascade called the mammalian target of rapamycin complex 1 (mTOR1), which is important for cellular growth, proliferation and division, particularly in brain development. Other scientists have recently found the mTOR pathway is activated by the HPV16 E6 oncoprotein.
While there had never been any studies indicating that HPV16 could infect the brain, Dr. Crino saw a potential connection. "This is a sporadic, congenital brain malformation associated with mTOR signaling with no genetic predisposition," he said. "Based on various cellular and cell signaling similarities between cervical dysplasia and focal cortical dysplasia, this led me to a hypothesis that the HPV protein could be detected in FCDIIB."
To find out, the investigators first examined FCDIIB tissue samples from 50 patients for evidence of the HPV16 E6 protein. They found that all of the samples were positive for the protein in the balloon cells, but not in regions without balloon cells or in 36 control samples from healthy individuals.
They next examined the samples' genetic material by several sophisticated molecular techniques to look for evidence of HPV16 E6, and compared the findings to tissue from healthy controls and tissue from patients with different types of brain malformations and epilepsy. Again, every sample of FCDIIB was found to contain HPV16 E6 protein, whereas the control specimens and tissue from other types of dysplasia and conditions did not.
Finally, in a series of experiments, the scientists painstakingly delivered the E6 protein into the brains of fetal mice. "If E6 is the causative element for HPV cervical dysplasia and focal cortical dysplasia, putting the protein into a fetal mouse brain should disrupt the cortical development," Dr. Crino explained. When the scientists did this, they found that the fetal mouse brains did indeed develop brain malformations.
Dr. Crino plans to investigate other forms of cortical dysplasia to see if HPV or related viral proteins can be found. He and his team aren't sure how the virus gets into the brain, but their results suggest that an HPV infection in the placenta could be one possible path. The exact mechanism by which HPV16 might cause a malformation and epilepsy remains to be determined. He acknowledged several potential implications from the findings.
"We are going to have to think about this epidemiologically as an infectious disease, not a genetic disorder. In terms of prevention, with current HPV vaccination, we have a potentially modifiable disease," he said. "In addition, if in fact this type of epilepsy represents a disorder of mTOR signaling, then one strategy could be, rather than treating the patients with anti-epileptic drugs, is to perhaps use mTOR inhibitors.
"The million dollar result would be to show it is possible to induce a brain malformation with an E6 infection, and the animal develops epilepsy," Dr. Crino said. "It would be even better if we showed that it is preventable."
###
Other investigators contributing to this research include Julie Chen, Victoria Tsai, Whitney E. Parker, and Marianna Baybis, University of Pennsylvania; and Eleonora Aronica, University of Amsterdam, The Netherlands.
This research was supported by Citizens United for Research in Epilepsy and the National Epilepsy Fund.
About Temple Health
Temple Health refers to the health, education and research activities carried out by the affiliates of Temple University Health System and by Temple University School of Medicine.
Temple University Health System (TUHS) is a $1.4 billion academic health system dedicated to providing access to quality patient care and supporting excellence in medical education and research. The Health System consists of Temple University Hospital (TUH), ranked among the "Best Hospitals" in the region by U.S. News & World Report; TUH-Episcopal Campus; TUH-Northeastern Campus; Fox Chase Cancer Center, an NCI-designated comprehensive cancer center; Jeanes Hospital, a community-based hospital offering medical, surgical and emergency services; Temple Transport Team, a ground and air-ambulance company; and Temple Physicians, Inc., a network of community-based specialty and primary-care physician practices. TUHS is affiliated with Temple University School of Medicine.
Temple University School of Medicine (TUSM), established in 1901, is one of the nation's leading medical schools. Each year, the School of Medicine educates approximately 720 medical students and 140 graduate students. Based on its level of funding from the National Institutes of Health, Temple University School of Medicine is the second-highest ranked medical school in Philadelphia and the third-highest in the Commonwealth of Pennsylvania. According to U.S. News & World Report, TUSM is among the top 10 most applied-to medical schools in the nation.
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?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
With the roll-out of information technology and the change of traditional opinion of jobs, there are many people hunting for a residual income formula that works well. But do you consider it?s possible to achieve your online career? Is it possible to get satisfaction from your internet business? I really do think so, to achieve this goal, you should utilize a residual income formula using a quality training system that you can succeed. The way to get the correct formula? First, you need no shocks with regards to you. Precisely what are you efficient at? Think you?re learn new concepts? Are your interests in some recoverable format, selling products, web-designing or implementing personal wellness? When you?re at ease a notion, the next thing is to examine the best business models currently on the internet. Getting good results with any residual income formula, you ought to apply commitment in to a quality education system.
When you set your internet business, you ought to try taking some factors under consideration: how many hours the different options are on your web business on a daily basis? If starting part-time, are you able to increase the risk for same or more benefit from web business than your family job? I know many are not just it for cash if they?re creating an internet business. But apart from the enjoyment an internet business brings you, some practical things should be considered. I cannot go web business when it consumes me a long time understanding that only gives me a few bucks that could not cover my cost of living.
Once you create your online business, you?ll want to consider: what do you expect from your business, some pocket money or a full-time income? Try to find something you might be proficient at so that you can make a nice income at the same time, get satisfaction from having your own business.
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Hedge fund head Steve Cohen's amazing success at picking stocks has made him one of the most powerful figures on Wall Street, but his empire may be in jeopardy from a federal investigation as four of his former employees are pleading guilty to insider trading. NBC's Lisa Myers reports.
By Tom WinterProducer, NBC News
While federal authorities aggressively pursue individual insider stock trading? cases ?? including an ongoing investigation of Wall Street titan Steven A. Cohen?s SAC Capital hedge fund ? financial regulators remain years away from being able to peer into ?dark pools,? the high-tech mechanism that insiders use to conduct secret, advantageous transactions.
Federal prosecutors have been circling Cohen, 56, the founder and owner of one of the largest and most profitable U.S. hedge funds and one of the richest men in America, since at least late last year, when an indictment was unsealed against former SAC employee Mathew Martoma. He was the fifth SAC employee accused of insider trading while at the firm; four others have pleaded guilty.
The complaint, which alleges that Martoma used inside information about a clinical drug trial to help SAC earn profits and avoid losses of $276 million in 2008, indicates that Martoma told Cohen about the results of the trial. SAC then sold stock in the Elan company and purchased options, ?a calculated and well-informed gamble that the stock would plummet once the news was announced, according to the complaint.
Martoma, 38, pleaded not guilty to insider trading charges this month. His lawyer said he expects his client to be ?fully exonerated.?
Cohen has not been charged with any crimes. A spokesman for Cohen said, "The firm and Steve Cohen are confident he acted appropriately."
The complaint also offered a look at how ?dark pools? allowed Cohen's firm to trade millions of shares and hundreds of millions of dollars of stock virtually undetected.
Dark pools are essentially private stock exchanges reserved for the largest traders, including hedge funds, major institutional funds, pension funds, and big banks. The pools use computers to match buyers and sellers of a particular stock, drawing pricing data from public stock exchanges like the New York Stock Exchange or NASDAQ.
While all exchanges have a degree of anonymity, dark pools have an increased level of secrecy because neither the size of the trade nor the identity of the participants are revealed until a trade is filled. It?s like the childhood pool game of ?Marco Polo,? except all the players are blindfolded rather than just? one. As a result, there is no way of knowing if just one broker, one trader or one firm doing all the buying or selling.
That means institutions trying to unravel or rapidly accumulate large positions in a company can avoid the large increases or decreases that often occur when a major trader begins acquiring or dumping a stock. Essentially, without knowing who is doing the buying or selling, other investors can?t recognize a sudden large increase in supply or demand, experts on the pools tell NBC News.
In the complaint against Martoma, investigators cite an email from a ?senior trader? at SAC Capital explaining how trading in dark pools and using algorithms enabled the company to avoid detection, and potential losses on its sale of Elan stock:
?This process clearly stopped leakage of info from either in (or) outside the firm and in my viewpoint clearly saved us some slippage,? it said.
The secret trades are perfectly legal. Only if they are coupled with inside information and used to give buyers or sellers an improper advantage do they cross the line.
Investors who have filed a class-action lawsuit against Cohen and SAC Capital say that?s exactly what happened with the trades in the Elan pharmaceutical company initiated by Martoma. They allege that they were at a distinct disadvantage as SAC profited from insider knowledge.
"I had a million dollar home, now I'm in a manufactured home," said one of the plaintiffs, Howard Kreier of North Carolina. Today, he said, he's ashamed to talk to his friends who also bought the Elan stock on his recommendation and lost big too.
What surprises many investors is that the Securities and Exchange Commission, the regulator of the dark pool exchanges, also is in the dark, with no way of quickly determining who is trading what, according to its website. Only throughhistorical forensic analysis of trades -- and sometimes by subpoenaing trading records ? can the SEC find suspicious patterns indicative of insider trading.
The regulatory agency is putting together a system, called the Consolidated Audit Trail (CAT), capable of tracking trades in near-real time. But that is at least three years away according to the bid schedule. It is unknown if such a system could have detected the huge moves by SAC Capital in July 2008.
The SEC declined requests for comment from NBC News, but pointed to the agency?s website for the information on CAT as well as the SEC's charter, which requires it to ?protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation."
?That mandate puts the agency in the difficult position, observers note, because it has to encourage innovation ?? such as the use of dark pools -- while simultaneously protecting investors from being at a disadvantage as a result of such systems.
Insider trading by all hedge funds has been under scrutiny since August 2009, when Preet Bharara took over for the U.S. Attorney's Office for the Southern District of New York.
Since then, 76 people have been charged with the illegal act of buying and selling stock based on information from insiders, with 71 convicted, according to the U.S. Attorney ?s Office.
?While the toll of insider trading is difficult to establish, plaintiffs in the class-action lawsuit against Cohen and SAC say their case shows that the practice punished both ordinary investors and other institutions that aren?t in the know.
In going after Cohen and SAC, they are targeting one of Wall Street?s savviest traders.
Cohen is worth nearly $9 billion, according to published reports. Despite his massive art collection, 36,000 square foot home, and enormous wealth Cohen maintains a relatively low profile, rarely granting interviews.
"In speaking to Steve Cohen you wouldn't necessarily know that he has one of the greatest track records as an investor over the last 15 or 20 years and that he's one of the richest men in the country, said CNBC's David Faber, "He's fairly understated, he's far from a recluse, he has plenty of friends and is extraordinarily competitive.?
But Kreier, one of the plaintiffs in the lawsuit, said he has no compunctions about going after such a prominent player, given the high price he paid for his investment in Elan. Because he had no idea SAC Capital was dumping hundreds of millions of dollars of stock and even short-selling Elan through the dark pools, he said his confidence in the stock market is shot.
?"You don't stand a chance,? he said. ?You buy a stock, you're better off buying a lottery ticket."
It?s a fact of life: we?re going to die. God willing, we will be granted many long and happy years, and meet our end peacefully, surrounded by loved ones, ready to enter the presence of our Lord.
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Public release date: 24-Jan-2013
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