The Next PlayStation: 5 Lessons I Hope Sony’s Learned






From wishful thinking to shockingly sudden all-but-certainty, Sony‘s next game system may be here at last (I’ll try to avoid calling it things Sony hasn’t, like “PlayStation 4″ or “Orbis”), apparently head-faking Microsoft to debut earlier than expected at what’ll no doubt be a media circus in New York (and online) come Feb. 20.


The event invite cleared my inbox last night accompanied by, well, see for yourself in Sony’s slick dubstep tease above. Sony labeled the event “PlayStation Meeting,” which is sort of like calling E3 “L.A. Occurrence,” but, well, marketing.






(MORE: How to Watch the Super Bowl Live Online)


At this point, your guess would have been as good as mine: probably the next PlayThing, because what else is Sony going to hype for three weeks and drag folks to from all corners of the earth? Still, I could have flown around the room on a broomstick: a PlayStation VitaPad, a PlayStation Phone (pPhone!), or heck, even Sony’s answer to Google‘s Project Glass (Sony GlassStation!).


But no, the Wall Street Journal went and spoiled the fun by claiming that, yes indeed, Sony’s going to give us a peek at its next games console and ship the thing later this year, probably around the holidays. I consider that slightly more plausible than hearsay since it’s the Journal, but bear in mind it’s still a claim based on unidentified sources (the Journal pulls the phrase “people familiar with the matter” off the shelf at least four times).


No surprise, the story’s taken off like a guy air-riding a horse, prompting a bunch of people to throw odd notions at the wall based on even sketchier sourcing. Instead of regaling you with tales of mystical multi-core processors pulling contextually meaningless speeds, why don’t we look back at some of the things I suspect we’d all agree Sony needs to do better the next time around.


Don’t launch at $ 500-$ 600. I still can’t imagine what Sony was thinking in 2006 (well, beyond “we can barely afford to build this franken-thing!”). Yes, everyone loved the PlayStation 2, and no, not enough to spend that kind of money on the PlayStation 3. No, I don’t know what the company ought to sell a new game console for, but I’ll refer you down the aisle to the Wii U: currently struggling at $ 300-$ 350. If Sony launches higher (and doesn’t include something like a free iPad), especially in a weak economy, it may find it’s looking for dance partners all over again.


(MORE: Are Weak Wii U Sales a Bellwether of Shifting Game Demographics?)


The new PlayStation Network (or whatever Sony rebrands it) needs to be seamless. None of this irritating “synchronizing trophies” business, waiting ages for features like background downloads or “cross-voice game chat is really coming!” except it’s really not. Also, while my lizard brain still sort of responds to the nerdy elegance of the PlayStation 3′s XrossMediaBar, after all these years there’s just something warmer and friendlier about Xbox LIVE. I have a roughly equal number of friends in both ecosystems, so it’s not that; I’ve just come to prefer navigating TV environments that feel a little less clinical. (The Journal says Sony’s new system is more social media-driven, so unless Sony’s launching a standalone answer to Facebook, I expect we’ll see the interface sporting newfangled riffs on Twitter/Facebook/Instagram/Google+/etc. integration.)


Resist the urge to go all three-ring-circus on us. Sitting through Sony/Microsoft pressers sometimes feels like watching Tim Robinson and Will Ferrell squeeze bottles of Cookie Dough Sport over their heads. Spare us the strobe lights and sizzle reels and maybe just level with us like we’re adults and not a bunch of Red Bull-amped teenage boys at a Lady Gaga concert.


Don’t make it all about the graphics. I mean sure, we all like pretty games, but 5x, 10x, 100x the PS3′s oomph…it’s now all kind of abstract and pointless given how sophisticated games already look today. I want to know what those extra cycles are going to do for me gameplay-wise, and I don’t mean visually, e.g. better “god-rays” or “subsurface scattering” or a gazillion bendable blades of grass. Can this thing sustain an artificially intelligent being that’d pass a Turing Test? And can you work that into a game that’s actually fun to play?


Don’t be the last kid to the party. Hello, stuff like Grand Theft Auto IV and Skyrim DLC. Microsoft scored coup after coup this round in terms of timed exclusive or outright exclusive content. And yes, I’m sure it cost the company a pretty penny, but gamers are going to go where the games they want to play live. If their sense is that’s not Sony, well, it’s not rocket science. And some of the dropped balls this round were doozies: Skyrim‘s one of the bestselling games of all time and it’s been out since November 2011. Bethesda just announced today that PS3 users can finally get their hands on the downloadable content in a few weeks, whereas Xbox 360 users have had at it for months.


MORE: 3 Things That Still Worry Me About BlackBerry


Gaming News Headlines – Yahoo! News





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Jim Nabors on Life as a Newlywed and Macadamia Nut Farmer















02/02/2013 at 05:00 PM EST



When actor Jim Nabors married Stan Cadwallader, his partner of 38 years last month, he wasn't trying to make a political statement about gay marriage. He just wanted to marry the man he calls "best friend."
 

"We've been together a long time and we just thought, 'let's solidify this,'" Nabors, 82, tells PEOPLE from Hawaii.
 

The former Andy Griffith Show and Gomer Pyle star and Cadwallader, 64, flew to Seattle – gay marriage is legal in Washington state – for a no-nonsense ceremony on Jan. 15, presided over by a longtime friend who is a judge. 

"This was kind of dotting the 'Is' and crossing the Ts,'" Nabors says, revealing that the couple did exchange rings along with their "I dos."

 
"That was really weird at my age," he says, laughing. "I never thought this would happen to me. Believe me, I didn't."
 

Nabors has been equally astonished by the response since news broke of the nuptials.
 

"People have called all over and it's kind of surprised me. I appreciate the good thoughts," says Nabors, who adds that he and Cadwallader enjoy what he calls "a good life" in Hawaii. "I'm a farmer! We have a farm that's part of the National Tropical Botanical Garden on Maui and we raise macadamia nuts." 
 

The newlyweds (the term makes Nabors chuckle) "are very happy," says Nabors. "One thing I've learned is when you find a best friend in this life you better hang on."

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New rules aim to get rid of junk foods in schools


WASHINGTON (AP) — Most candy, high-calorie drinks and greasy meals could soon be on a food blacklist in the nation's schools.


For the first time, the government is proposing broad new standards to make sure all foods sold in schools are more healthful.


Under the new rules the Agriculture Department proposed Friday, foods like fatty chips, snack cakes, nachos and mozzarella sticks would be taken out of lunch lines and vending machines. In their place would be foods like baked chips, trail mix, diet sodas, lower-calorie sports drinks and low-fat hamburgers.


The rules, required under a child nutrition law passed by Congress in 2010, are part of the government's effort to combat childhood obesity. While many schools already have improved their lunch menus and vending machine choices, others still are selling high-fat, high-calorie foods.


Under the proposal, the Agriculture Department would set fat, calorie, sugar and sodium limits on almost all foods sold in schools. Current standards already regulate the nutritional content of school breakfasts and lunches that are subsidized by the federal government, but most lunchrooms also have "a la carte" lines that sell other foods. Food sold through vending machines and in other ways outside the lunchroom has never before been federally regulated.


"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should be supported when kids walk through the schoolhouse door," Agriculture Secretary Tom Vilsack said.


Most snacks sold in school would have to have less than 200 calories. Elementary and middle schools could sell only water, low-fat milk or 100 percent fruit or vegetable juice. High schools could sell some sports drinks, diet sodas and iced teas, but the calories would be limited. Drinks would be limited to 12-ounce portions in middle schools and to 8-ounce portions in elementary schools.


The standards will cover vending machines, the "a la carte" lunch lines, snack bars and any other foods regularly sold around school. They would not apply to in-school fundraisers or bake sales, though states have the power to regulate them. The new guidelines also would not apply to after-school concessions at school games or theater events, goodies brought from home for classroom celebrations, or anything students bring for their own personal consumption.


The new rules are the latest in a long list of changes designed to make foods served in schools more healthful and accessible. Nutritional guidelines for the subsidized lunches were revised last year and put in place last fall. The 2010 child nutrition law also provided more money for schools to serve free and reduced-cost lunches and required more meals to be served to hungry kids.


Sen. Tom Harkin, D-Iowa, has been working for two decades to take junk foods out of schools. He calls the availability of unhealthful foods around campus a "loophole" that undermines the taxpayer money that helps pay for the healthier subsidized lunches.


"USDA's proposed nutrition standards are a critical step in closing that loophole and in ensuring that our schools are places that nurture not just the minds of American children but their bodies as well," Harkin said.


Last year's rules faced criticism from some conservatives, including some Republicans in Congress, who said the government shouldn't be telling kids what to eat. Mindful of that backlash, the Agriculture Department exempted in-school fundraisers from federal regulation and proposed different options for some parts of the rule, including the calorie limits for drinks in high schools, which would be limited to either 60 calories or 75 calories in a 12-ounce portion.


The department also has shown a willingness to work with schools to resolve complaints that some new requirements are hard to meet. Last year, for example, the government relaxed some limits on meats and grains in subsidized lunches after school nutritionists said they weren't working.


Schools, the food industry, interest groups and other critics or supporters of the new proposal will have 60 days to comment and suggest changes. A final rule could be in place as soon as the 2014 school year.


Margo Wootan, a nutrition lobbyist for the Center for Science in the Public Interest, said surveys by her organization show that most parents want changes in the lunchroom.


"Parents aren't going to have to worry that kids are using their lunch money to buy candy bars and a Gatorade instead of a healthy school lunch," she said.


The food industry has been onboard with many of the changes, and several companies worked with Congress on the child nutrition law two years ago. Major beverage companies have already agreed to take the most caloric sodas out of schools. But those same companies, including Coca-Cola and PepsiCo, also sell many of the non-soda options, like sports drinks, and have lobbied to keep them in vending machines.


A spokeswoman for the American Beverage Association, which represents the soda companies, says they already have greatly reduced the number of calories that kids are consuming at school by pulling out the high-calorie sodas.


___


Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick


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"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.


That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.


Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.


Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.


Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.


"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."


The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.


Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.


Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .


But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.


Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.


During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.


MOM AND POP STILL WARY


Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.


This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.


Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.


"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.


Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.


He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.


Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.


On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.


Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.


Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.


Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.


(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)



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The Lede Blog: Video and Images of New Clashes in Cairo

Last Updated, 6:04 p.m. As our colleagues Kareem Fahim and David Kirkpatrick report, Egyptian protesters clashed with riot police officers outside the presidential palace in Cairo on Friday night.

Protesters hurled rocks and launched fireworks over the building’s outer wall, setting fire to a guard tower and drawing a robust response from security forces, who protesters said fired tear gas, rubber bullets and birdshot, causing many to flee through the streets of an upper-class Cairo neighborhood.

Video, photographs and text reports uploaded by activist bloggers and journalists on the scene showed the clashes, as protesters hurled rocks and launched fireworks over the palace walls, setting fire to a guard tower, and officers fired tear gas, rubber bullets and birdshot, causing many to flee through the streets of the upper-class Cairo neighborhood. In one instantly notorious incident that unfolded on live television, officers stripped and beat a protester outside the palace. Graphic images of the beating were recorded from at least two angles, and broadcast on both Egypt’s ONTV and Al Hayat, a satellite news channel.

A well-known rights lawyer, Ragia Omran, reported on Twitter that one protester died after being shot in the head and neck outside the palace.

Earlier on Friday, video posted online by Tahrir News, an independent news organization, appeared to show officers setting fire to a small tent city that protesters had erected outside the walls of the palace.

Members of the Egyptian security forces set fire on Friday to a tent city erected by protesters outside the presidential palace

Video posted online by Magdy Samaan, an Egyptian journalist, appeared to show protesters hurling Molotov cocktails and setting a guard tower alight, as the crowd chanted for President Mohamed Morsi to “Leave!” Off camera, protesters could also be heard chanting “The People Want the Fall of the Regime,” another signature chant of the Egyptian revolution.

Video shot by an Egyptian journalist outside the presidential palace in Cairo on Friday showed protesters setting fire to a guard tower.

After the protests against Egypt’s new Islamist president turned violent, the Muslim Brotherhood’s official English-language Twitter feed, @Ikhwanweb, drew attention to video of protesters throwing rocks and launching fireworks over the walls of the palace from Al-Hayat, a satellite news channel. Mr. Morsi, long a senior leader of the Brotherhood, was the movement’s candidate for the presidency.

Video aired by Al-Hayat TV station showed protesters throwing rocks and launching fireworks over the walls of the presidential palace in Cairo.

Mr. Morsi’s office posted condemned the protesters in updates on Twitter, and even tried to reclaim the mantle of the 2011 revolution.

Until Mr. Morsi was sworn into office last summer, protests outside the presidential palace were all but unheard of and clashes with the hated security forces typically took place outside police stations or the downtown headquarters of the Interior Ministry. As the activist blogger Wael Eskandar noted, that changed in early December.

After Islamist supporters of the president attacked protesters outside the palace in December, the Muslim Brotherhood was blamed for provoking the violence. On Friday, a note posted on Ikhwanweb said that the Brotherhood would not call on rank-and-file members to defend the presidential palace.

As the clashes between the security forces and protesters escalated on Friday night, Bel Trew, a British journalist for the state news site Ahram Online, reported from the scene that officers of the Central Security Forces were shooting at protesters, or those they believed to be protesters, at close range.

She also reported seeing the police shoot one man with birdshot at close range outside a Costa Cafe. He was not a protester, but a cafe employee leaving work, she said.

Protesters also gathered in Tahrir Square in downtown Cairo on Friday, where witnesses said the scene was much more subdued.

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Apple edges out Samsung for mobile phone sales lead in fourth quarter






SAN FRANCISCO (Reuters) – Apple Inc became the top mobile phone seller for the first time in the lucrative U.S. market during the fourth quarter of 2012, outshining arch rival Samsung Electronics Co Ltd, a report by Strategy Analytics showed.


Apple‘s share of the U.S. mobile phone market, including feature phones and smartphones, jumped to 34 percent from 26 percent, while Samsung’s share grew to 32.3 percent from 31.8 percent, the research firm said.






Samsung had been the top mobile phone vendor in the US since 2008, the firm said. Indeed, for the full year, Samsung still held the crown for mobile phone sales; it had a 31.8 percent share of the U.S. market in 2012, against Apple’s 26.2 percent.


Apple investors have recently been anxious about the future growth prospects for the company amid intense competition from Samsung’s cheaper phones, powered by Google’s Android software, and signs the premium smartphone market may be close to saturation in developed markets.


Overall, mobile phone shipments rose 4 percent to 52 million units in the U.S. during the fourth quarter of 2012, driven by strong demand for 4G smartphones and 3G feature phones.


But in all of 2012, U.S. mobile phone shipments fell 11 percent to 166.9 million, Strategy Analytics said.


Apple sold 17.7 million iPhones in the U.S. in the fourth quarter, up 38 percent from the previous year, driven by aggressive marketing of its new iPhone 5 and steep carrier subsidies, the firm said. Samsung shipped 16.8 million phones during the same period.


In the international arena, Samsung Electronics, with a range of handsets, has overtaken Apple as the world’s top smartphone seller.


(Reporting by Poornima Gupta; Editing by Bernadette Baum)


Tech News Headlines – Yahoo! News





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Healthier schools: Goodbye candy and greasy snacks


WASHINGTON (AP) — Goodbye candy bars and sugary cookies. Hello baked chips and diet sodas.


The government for the first time is proposing broad new standards to make sure all foods sold in schools are more healthful, a change that would ban the sale of almost all candy, high-calorie sports drinks and greasy foods on campus.


Under new rules the Department of Agriculture proposed Friday, school vending machines would start selling water, lower-calorie sports drinks, diet sodas and baked chips instead. Lunchrooms that now sell fatty "a la carte" items like mozzarella sticks and nachos would have to switch to healthier pizzas, low-fat hamburgers, fruit cups and yogurt.


The rules, required under a child nutrition law passed by Congress in 2010, are part of the government's effort to combat childhood obesity. While many schools already have made improvements in their lunch menus and vending machine choices, others still are selling high-fat, high-calorie foods.


Under the proposal, the Agriculture Department would set fat, calorie, sugar and sodium limits on almost all foods sold in schools. Current standards already regulate the nutritional content of school breakfasts and lunches that are subsidized by the federal government, but most lunch rooms also have "a la carte" lines that sell other foods. And food sold through vending machines and in other ways outside the lunchroom has not been federally regulated.


"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should be supported when kids walk through the schoolhouse door," said Agriculture Secretary Tom Vilsack.


Most snacks sold in school would have to have less than 200 calories. Elementary and middle schools could sell only water, low-fat milk or 100 percent fruit or vegetable juice. High schools could sell some sports drinks, diet sodas and iced teas, but the calories would be limited. Drinks would be limited to 12-ounce portions in middle schools, and 8-ounce portions in elementary schools.


The standards will cover vending machines, the "a la carte" lunch lines, snack bars and any other foods regularly sold around school. They would not apply to in-school fundraisers or bake sales, though states have the power to regulate them. The new guidelines also would not apply to after-school concessions at school games or theater events, goodies brought from home for classroom celebrations, or anything students bring for their own personal consumption.


The new rules are the latest in a long list of changes designed to make foods served in schools more healthful and accessible. Nutritional guidelines for the subsidized lunches were revised last year and put in place last fall. The 2010 child nutrition law also provided more money for schools to serve free and reduced-cost lunches and required more meals to be served to hungry kids.


Iowa Sen. Tom Harkin, a Democrat, has been working for two decades to take junk foods out of schools. He calls the availability of unhealthful foods around campus a "loophole" that undermines the taxpayer money that helps pay for the healthier subsidized lunches.


"USDA's proposed nutrition standards are a critical step in closing that loophole and in ensuring that our schools are places that nurture not just the minds of American children but their bodies as well," Harkin said.


Last year's rules faced criticism from some conservatives, including some Republicans in Congress, who said the government shouldn't be telling kids what to eat. Mindful of that backlash, the Agriculture Department exempted in-school fundraisers from federal regulation and proposed different options for some parts of the rule, including the calorie limits for drinks in high schools, which would be limited to either 60 calories or 75 calories in a 12-ounce portion.


The department also has shown a willingness to work with schools to resolve complaints that some new requirements are hard to meet. Last year, for example, the government relaxed some limits on meats and grains in subsidized lunches after school nutritionists said they weren't working.


Schools, the food industry, interest groups and other critics or supporters of the new proposal will have 60 days to comment and suggest changes. A final rule could be in place as soon as the 2014 school year.


Margo Wootan, a nutrition lobbyist for the Center for Science in the Public Interest, says surveys done by her organization show that most parents want changes in the lunchroom.


"Parents aren't going to have to worry that kids are using their lunch money to buy candy bars and a Gatorade instead of a healthy school lunch," she said.


The food industry has been onboard with many of the changes, and several companies worked with Congress on the child nutrition law two years ago. Major beverage companies have already agreed to take the most caloric sodas out of schools. But those same companies, including Coca-Cola and PepsiCo, also sell many of the non-soda options, like sports drinks, and have lobbied to keep them in vending machines.


A spokeswoman for the American Beverage Association, which represents the soda companies, says they already have greatly reduced the number of calories kids are consuming at school by pulling out the high-calorie sodas.


___


Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick


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Wall Street surges to five-year highs; Dow ends above 14,000

NEW YORK (Reuters) - Stocks rose to five-year highs on Friday, with the Dow closing above 14,000 for the first time since October 2007, after jobs and manufacturing data showed the economy's recovery remains on track.


The S&P touched its highest since December 2007 after a 5 percent gain in January, which was its best start to a year since 1997. The index is now just about 60 points away from its all-time intraday high of 1,576.09.


Employment grew modestly in January, with 157,000 jobs added. That was slightly below expectations, but Labor Department revisions showed 127,000 more jobs were created in November and December than previously reported.


Analysts attributed the market's robust showing so far this year partly to a deluge of cash flowing into equities.


Investors poured $12.7 billion into U.S.-based stock mutual funds and exchange-traded funds in the latest week, concluding the strongest four-week flows into stock funds since 1996, data showed on Thursday.


"There is a lot of money looking for a home, and people are finally deciding the bond market is done and moving money into equities," said Edward Simmons, managing director and partner at HighTower in Portland, Maine.


"I see the rotation (of assets) pushing the market up in the face of not-massive amounts of good news," he said. "People are overlooking the higher risk in equities."


Other reports released Friday showed the pace of growth in the U.S. manufacturing sector picked up in January to its highest level in nine months, U.S. consumer sentiment rose more than expected last month, while December construction spending also beat forecasts.


"All the data seems to keep pointing to a slowly, steadily improving economy," said Eric Kuby, chief investment officer at North Star Investment Management Corp in Chicago.


The Dow Jones industrial average <.dji> was up 149.21 points, or 1.08 percent, at 14,009.79. The Standard & Poor's 500 Index <.spx> was up 15.06 points, or 1.01 percent, at 1,513.17. The Nasdaq Composite Index <.ixic> was up 36.97 points, or 1.18 percent, at 3,179.10.


With the day's gains, major equity indexes rose five straight weeks.


More than 600 stocks on the NYSE and the Nasdaq combined hit 52-week highs on Friday, including Google which rose as high as $776.60, before closing at $775.60, up 2.6 percent.


Investors were also attuned to corporate earnings, with a trio of Dow components reporting profits that beat expectations.


Exxon Mobil ended flat at $90.04 after reporting results while Chevron added 1.2 percent to $116.50.


Drugmaker Merck & Co fell 3.3 percent to $41.83 after a cautious 2013 outlook.


Generic drugmaker Perrigo reported a better-than-expected second-quarter profit and its shares jumped 4.7 percent to $105.28.


Of the 252 companies in the S&P 500 that have reported earnings so far, 69 percent have exceeded expectations, according to Thomson Reuters data. That is a higher proportion than over the past four quarters and above average since 1994.


Overall, S&P 500 fourth-quarter earnings are estimated to have grown 4.4 percent, according to the data, up from a 1.9 percent forecast at the start of the earnings season but well below a 9.9 percent profit growth forecast on October 1.


Dell Inc gained 2.9 percent to $13.63 after sources said the company was nearing an agreement to sell itself to a buyout consortium led by its founder, Michael Dell, and private equity firm Silver Lake Partners.


(Reporting By Angela Moon; Editing by Kenneth Barry)



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Hagel Offers Endorsement of U.S. Military Might




Tough Questions for Hagel at Hearing:
Chuck Hagel, President Obama’s nominee for secretary of defense, had some sharp exchanges with Senator John McCain.







WASHINGTON — Chuck Hagel, President Obama’s nominee to be secretary of defense, came under sharp and sometimes angry questioning Thursday on a wide range of issues from fellow Republicans at his Senate confirmation hearing, including from his old friend, Senator John McCain, the Arizona Republican who is still smoldering about their break over the Iraq war.




Mr. Hagel, 66, a former senator from Nebraska and a decorated Vietnam veteran who would be the first former enlisted soldier to be secretary of defense, often seemed tentative in his responses to the barrage from fellow Republicans on the Senate Armed Services Committee, who showed him little deference and frequently cut him off.


One of the most hostile questioners was Senator Lindsey Graham of South Carolina, who told Mr. Hagel to “give me an example of where we’ve been intimidated by the Israel-Jewish lobby to do something dumb.'’ Mr. Hagel, who in 2006 said the “Jewish lobby” intimidates Congress, could not.


From Mr. Hagel's home state, Senator Deb Fischer told Mr. Hagel that he held "extreme views" that were "far to the left of this administration.'' Senator Ted Cruz, Republican of Texas, surprised the hearing with excerpts on a giant video screen from an interview Mr. Hagel gave to Al Jazeera in 2009. Although it was difficult to hear the short clips he provided, Mr. Cruz asserted that they showed Mr. Hagel agreeing with a caller who suggested that Israel had committed war crimes.


“Do you think the nation of Israel has committed war crimes?'’ Mr. Cruz demanded.


“No, I do not, Senator,'’ Mr. Hagel replied.


But his exchange with Mr. McCain was the most notable, given that the two former Vietnam veterans were close friends when they served in the Senate until Mr. Hagel’s views on the Iraq War caused a split. In 2008, Mr. Hagel did not endorse Mr. McCain for president and traveled with Mr. Obama, then a senator from Illinois, to Iraq and Afghanistan.


Mr. Hagel dodged a direct answer as Mr. McCain asked him repeatedly if history would judge whether Mr. Hagel was right or wrong in opposing the surge in American armed forces when he was in the Senate. The escalation, along with other major factors, is credited in helping to quell the violence in Iraq at the time. When Mr. Hagel said he wanted to explain, Mr. McCain bore in.


“Are you going to answer the question, Senator Hagel — the question is whether you were right or wrong?” Mr. McCain said.


“I’m not going to give you a yes or no answer,” Mr. Hagel replied.


Mr. McCain did not let up.


"I think history has already made a judgment about the surge, sir, and you’re on the wrong side of it,” Mr. McCain said, then seemed to threaten that he would not vote for Mr. Hagel if he did not answer the question.


It took the next questioner, Senator Bill Nelson, Democrat of Florida, to draw Mr. Hagel out on the subject. “I did question the surge,” Mr. Hagel said. “I always asked the question, is this going to be worth the sacrifice?” He said 1,200 American men and women lost their lives in the surge. “I’m not certain it was required,” Mr. Hagel said. “Now, it doesn’t mean I was right.”


Despite the theatrics, it was unclear how the committee would vote on Mr. Hagel’s nomination. He needs a majority of the 26-member panel, which includes 14 Democrats, almost all of whom are likely to support his nomination. And there remained a possibility that perhaps one or two Republicans would join them. If Mr. Hagel advances out of the committee, he would have an easier time when the entire Senate votes on his confirmation.


The onslaught by Republicans, however, began even before Mr. Hagel made his opening statement.


The ranking Republican on the committee, Senator James M. Inhofe of Oklahoma, told Mr. Hagel that he would not vote for him because of his position of “appeasing” America’s adversaries.


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OpenStack at Linux.conf.au 2013






I’m writing this blog post from Canberra Australia, while attending the Linux.conf.au (LCA) open source conference. Among the people who do these sorts of things, LCA has a well deserved reputation as one of the very best open source conferences in the world.


Geeks from across Australia and New Zealand, and from across the rest of the world, come together for a week in January (summer in this part of the world) to talk about everything from the intricate technical details of Linux kernel design to pushing the state of the art in file systems and issues deploying practical wireless cryptography. Softer but equally important topics such as Open Government, gender balance in technology, and international legal issues are also discussed. Read more about OpenStack at Linux.conf.au 2013 »






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