Saturday, November 5, 2011

Bail denied for girlfriend of crime boss "Whitey" Bulger (Reuters)

BOSTON (Reuters) ? Catherine Greig, charged with aiding her fugitive boyfriend, notorious mob boss James "Whitey" Bulger, was denied bail on Friday by a federal judge who ruled she was a serious flight risk.

Greig's lawyers had requested that she be released on bail to home confinement and electronic monitoring, with her own house and the home of her identical twin sister as additional collateral. But the judge denied that request.

"She walked away from both 16 years ago when she left Massachusetts with Bulger, demonstrating a willingness to leave everything and everyone behind," U.S. Magistrate Judge Jennifer Boal said in a written ruling.

Greig, 60, is scheduled to go on trial in April 2012 on federal charges that she conspired with Bulger and others to conceal and harbor the aging gangster during the 16 years the pair hid from authorities.

Bulger, 82, fled Boston in late 1994 after receiving a tip from a corrupt FBI agent that federal charges were pending. Bulger has pleaded not guilty to all charges against him, including over 19 killings from the 1970s and 1980s.

Greig, who joined Bulger in hiding, faces up to five years in prison, three years of supervised release and a $250,000 fine if convicted.

Bulger and Greig were arrested in California in June with a stash of about 30 firearms and $822,000 in cash hidden in holes in the wall of their apartment.

The judge said she had considered Greig's skill in eluding authorities for 16 years while aiding Bulger on the run, including her use of assumed names and false identification documents.

In denying bail, the judge also said the brutal nature of the crimes that Bulger was accused of committing added weight to Greig's charges.

"While the crime of harboring a fugitive is not normally considered a crime of violence, the court cannot ignore the fact that Greig is charged with harboring a fugitive who is accused of 19 murders," Boal wrote.

Bulger for years led the Winter Hill Gang, a mostly Irish-American organized crime operation that operated in Boston.

(Reporting by Lauren Keiper and Barbara Goldberg; Editing by Cynthia Johnston)

Source: http://us.rd.yahoo.com/dailynews/rss/crime/*http%3A//news.yahoo.com/s/nm/20111104/us_nm/us_usa_greig

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Friday, November 4, 2011

Impact Investing from the VC Perspective

Impact investing has the potential to change the world. By driving more money and investments into green businesses, the field stands to facilitate the needed transition in the global economy to a more sustainable, regenerative one. Recently, I attended a talk by Murray Clay, of the Ulupono Initiative. Ulupono has been billed as the only impact investment venture capital firm in Hawai?i. Specifically, the Ulupono Initiative invests in companies that help the state grow its own food, reduce its waste, and use renewable energy.

So how does an entrepreneur approach an impact investing firm and solicit funding for a green project? What is the best strategy to effectively communicate with impact investors and help bring the project to life?

Clay answered that Ulupono looks for best in class projects that, with capitalization, can scale nicely, like efficient feedstock for biofuels plant. They seek long term viability. They look for experienced and capable management. A good example, according to Clay, is Sopogy, founded by local entrepreneur Darren Kimura in 2002. Sopogy?s solar concentrators are best in class, and have the shortest payback period among commercial solar options. Their other investments have included ClearFuels which produces biofuels that can be converted to jet fuel.

So what is weighed more heavily at Ulupono? Mission or profitability? The answer is neither. The realistic potential for good risk-adjusted returns is what is likely to get their investment. Some people, Clay said, bemoan their focus on profits. Without profits, however, philanthropy can only last so long. Profits give projects legs of their own so they don?t have to continually be pushed forward.

?The bottom line can be a harsh task master,? said Clay. ?But the lessons an entrepreneur can take from the bottom line are critical for business success.? Without the focus on the profitability of your project, the market is likely to vote against your project and you?d be wise to reconsider your business model regardless of how interested an investor is, according to Clay.

According to Clay, arguments like ?If only 10% of people adopted our technology, our impact would be?.? are simply too easy to make and too abstract to have real world viability.

Clay told the story of the boy who throws starfish back into the water and cites that he can make a difference to that one. While this is a touching story, this is the not the kind of investment they?d make. Clay joked that if someone came with a solar powered starfish relocator that could comb miles of beach and save thousands of starfish, now that would be the kind of thing that might draw their investment.

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Scott Cooney is the developer of a GBO Hawai?i, a new Triple Bottom Line board game, where players are impact investors helping Hawai?i transition away from oil and imported foods, and the author of Build a Green Small Business (McGraw-Hill).

Follow Scott?s company, GreenBusinessOwner.com, on Twitter: Twitter.com/GreenBizOwner

Source: http://www.triplepundit.com/2011/11/impact-investing-vc-perspective/

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No major Fed moves expected despite Europe fears (AP)

NEW YORK ? Let's wait and see.

That's likely to be the Federal Reserve's message Wednesday, when its two-day policy meeting ends. Few expect any bold new steps to be announced, despite rising fears that Europe's debt crisis could infect the global economy.

Fed policymakers likely want to gauge the impact of action they've taken recently to keep interest rates low. The Fed has breathing room because the U.S. economy has strengthened enough to allay fears of another recession.

After their September meeting, the policymakers said they would shuffle the Fed's investment portfolio to try to further reduce long-term interest rates. And in their previous meeting in August, they had said they plan to keep short-term rates near zero until at least mid-2013 unless the economy improved.

"They know they are running out of tools, so they don't want to employ another one unless they have to," said David Wyss, former chief economist at Standard & Poor's.

Financial markets in the United States and around the world were jolted Tuesday after Greece's prime minister made the surprise decision to call a referendum on the country's latest rescue package. The move sparked fears that the entire debt deal could unravel, that Greece could default on its debt and that the crisis could ripple through the global financial system.

Economists said Europe was sure to be a major discussion topic during the Fed meeting Tuesday and Wednesday. But they said they didn't think the developments would prompt the Fed to announce any major new step.

"They will talk about Europe, but I don't expect any action," said David Jones, head of DMJ Advisors, a Denver-based consulting group. "The Fed will not respond to the problems in Europe until it is clear they are causing a significant weakening in economic activity in the United States."

After the meeting ends, the Fed will release its economic forecasts and Chairman Ben Bernanke will hold a news conference.

At its last meeting, the Fed left open the possibility of taking additional action to try to help the economy. One option is to further explain the steps it has already taken and their purposes. Another would be to launch a third program of bond purchases.

But the Fed remains deeply divided over what, if any, action to take, which is another reason economists don't expect any major announcements this week.

The actions taken in August and September were adopted on 7-3 votes, the most dissents in nearly 20 years.

Three regional bank presidents ? Richard Fisher of Dallas, Charles Plosser of Philadelphia and Narayana Kocherlakota of Minneapolis ? all voted no. They have expressed concerns that the Fed's policies could lead to high inflation later.

On the other hand, four policymakers are worried that the Fed might not be doing enough. Vice Chair Janet Yellen, Governor Daniel Tarullo, Chicago Fed President Charles Evans and New York Fed President William Dudley have said the economy is at risk and might need more support.

"I have never seen the Fed more deeply divided than it is at this moment," said Jones, the author of books on the Fed.

At its meeting in September, the Fed stopped short of expanding its portfolio of investments. Instead, it opted to shuffle $400 billion of its investments to try to lower long-term rates.

But two officials pushed for bolder action, according to minutes of the meeting. The members discussed more bond-buying. Some said it should remain an option.

A brighter outlook for the economy has given the Fed more room to wait. The economy grew at an annual rate of 2.5 percent in the July-September period ? the best quarterly performance in a year.

That's strong enough to show that the economy isn't about to slide into recession. Still, growth would have to be nearly twice as high ? consistently ? to make a major dent in the unemployment rate, which has been stuck at 9.1 percent for three straight months.

Stocks staged a rally in October. The Standard & Poor's 500 stock index last month notched its best one-month showing since December 1991.

But on Tuesday, news of the Greek referendum triggered a wave of selling on Wall Street and around the world. The Dow Jones industrial average finished down nearly 300 points, about 2.5 percent. It was the biggest one-day point drop for the Dow since Sept. 9.

Even if the European debt deal were to succeed, many analysts don't think Europe can avoid another recession.

Most economists think the Fed will hold off on new action until its December meeting or early next year. The next step could be further clarity on its interest-rate policy.

Evans has proposed that the Fed set benchmarks for raising rates. For example, it could agree not to raise short-term rates until unemployment fell below 7 percent or the outlook for inflation exceeded 3 percent. The unemployment rate has hovered around 9 percent for more than two years, and the Fed's inflation outlook is under 2 percent.

Yellen, who heads a Fed panel that is examining ways to improve the central bank's communications, says the idea should be examined. But she cautioned that such benchmarks could confuse investors.

She has suggested that the Fed could add further guidance when it provides its economic forecasts four times a year. The forecast offers estimates for growth, unemployment and inflation. It does not forecast interest rates.

Mark Zandi, chief economist at Moody's Analytics, said that adding a Fed forecast on the federal funds rate, its main policy lever, would reassure investors about when it might move interest rates.

"They have given investors more clarity about the timing of future rates, but including an actual forecast of when rates might change would help bring rates down further," Zandi said.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20111101/ap_on_bi_ge/us_federal_reserve

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Thursday, November 3, 2011

Karolyn Pho: Dating Shia LaBeouf For Some Reason!


He may be in Vancouver filming his new movie, The Company You Keep, and getting his ass kicked on occasion, but Shia LaBeouf isn't an unwelcome sight for everyone.

Girlfriend Karolyn Pho likes being around the guy.

She was casually dressed, chatting with crew members as she watched her beau film a scene in the Robert Redford film. Shia also managed to escape the set for a bit, grabbing a beverage with his girlfriend at a coffee shop nearby.

They later strolled back to the set, arm in arm.

Shia LaBeouf and Karolyn Pho

Who dates Shia LaBeouf? Apparently Karolyn Pho does.

[Photo: Fame Pictures]

Source: http://www.thehollywoodgossip.com/2011/11/karolyn-pho-dating-shia-labeouf-for-some-reason/

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Wednesday, November 2, 2011

Best Buy To Sell HP TouchPad for $149, with Strings (NewsFactor)

After the fire sale that saw Hewlett-Packard's TouchPad tablet sell out for $99 in August, the device is making its way to Best Buy store shelves once again. Best Buy will begin selling the TouchPad online Tuesday and in stores Friday.

The difference is, the discount isn't as deep this time around and it comes with a string attached. Best Buy is selling a 32 GB TouchPad for $149 -- but consumers have to buy an HP or Compaq notebook or desktop PC in order to get the deal.

Consumers who just want the TouchPad will pay $599.99. Best Buy warned that quantities would be limited. HP is not selling the tablet on its own Web site.

Revitalizing PC Business

"HP is trying to get people to start buying its computers again because everybody stopped," said Michael Disabato, managing vice president of network and telecom at Gartner.

Enterprises in particular were hesitant to purchase HP or Compaq machines because HP was considering spinning off or selling its PC business. Enterprises were concerned about buying into machines for which the company may or may not provide support. But news emerged late last week that HP had decided to hold on to its Personal Systems Group.

"HP objectively evaluated the strategic, financial and operational impact of spinning off PSG. It's clear after our analysis that keeping PSG within HP is right for customers and partners, right for shareholders, and right for employees," said Meg Whitman, the new HP president and CEO. "HP is committed to PSG, and together we are stronger."

A strategic review involved subject-matter experts from across the businesses and functions. Beyond the contributions the PC unit makes to HP's solutions portfolio and overall brand value, the study showed that the cost to recreate these in a standalone company outweighed any benefits of separation. HP is still the leading manufacturer of personal computers globally, with revenues totaling $40.7 billion in 2010.

Where Are the Apps?

The TouchPad, however, is still on the chopping block. The TouchPad seemed doomed from the beginning. Early reviews of the product, which debuted on July 1, were mixed. Some said HP released the TouchPad too early. Others called its performance sluggish. Still others said there weren't enough apps in HP's app store to compete.

"I'll still ask the question, where are the apps?" Disabato asked. "Samsung's Galaxy Tab is the only tablet that has offered any real competition for the iPad, which is why I think Apple tried to kill it off."

On the upside, the multitasking was a hit, the webOS implementation is finding praise, and the hardware is getting a nod. It didn't sell well at $499, but at $99 it seemed like a basement bargain to tens of thousands. It remains to be seen how well the TouchPad will sell with the PC strings attached, especially with Research In Motion's offer of buy two, get one free for the BlackBerry PlayBook.

Source: http://us.rd.yahoo.com/dailynews/rss/internet/*http%3A//news.yahoo.com/s/nf/20111031/tc_nf/80806

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Rams pull off stunning first win, stop Saints

Jackson runs wild as St. Louis holds Brees in check for 31-21

Image: SaintsGetty Images

John Kasay reacts after missing a 49-yard field goal attempt in the Saints' loss to the Rams on Sunday.

By R.B. FALLSTROM

updated 4:27 p.m. ET Oct. 30, 2011

ST. LOUIS - Perhaps inspired by the hometown Cardinals' stunning surge to the World Series title, the St. Louis Rams pulled off a shocker of their own.

Steven Jackson scored twice in his first 100-yard game in three seasons as the lowly Rams earned their first win this season, a 31-21 upset of the New Orleans Saints.

Drew Brees barely kept alive his touchdown pass streak on a meaningless score in the final seconds a week after throwing five in a 62-7 rout of the winless Indianapolis Colts. Brees was intercepted twice, too, with Darian Stewart's pick and 27-yard return putting the game away with 2:51 to go.

The NFC South-leading Saints (5-3) average a league-best 35 points, but never got on track against a defense ranked near the bottom of the league. The Rams (1-6) had a season-high six sacks after entering the game with just 11, three by Chris Long.

Saints pass catchers were bottled up by a secondary minus its top three players.

The Rams wore throwback jerseys in a nod to their 1999 Super Bowl championship team. Then there was the pregame appearance by the Cardinals, who brought their World Series trophy with them to help fire up a crowd growing accustomed to disappointment from the Rams. The game was sold out, but there were hundreds of empty seats.

Manager Tony La Russa donned a Sam Bradford jersey and Game 7 winner Chris Carpenter went out for the coin toss wearing a Jackson jersey.

Rams players attended Game 3 of the World Series in Texas last week ? Albert Pujols' three-homer game ? the night before their 34-7 loss to the Cowboys in Dallas.

All three Saints losses have come on the road. But they were favored by nearly two touchdowns against a franchise that has been staggeringly awful on both sides of the ball. Like the Colts a week earlier, the Rams were starting their backup quarterback.

A.J. Feeley made his second straight start in place of Bradford (high left ankle sprain), and had a touchdown pass in a mistake-free outing.

Jackson had 159 yards on 25 carries, including a 32-yard jaunt on fourth-and-2 to set up his second touchdown that made it 24-0 in the third quarter.

Jonathan Vilma got the Saints on the board after recovering Feeley's fumble on a sack by Malcolm Jenkins, and Pierre Thomas scored with 10 minutes left to cut the gap to 10.

The first quarter was scoreless, a victory in itself for the Rams, given they've been outscored 59-13 in the opening period. Then, shockingly, they took control.

They capitalized on a pair of turnovers to go up 17-0 at the break. Jackson scored on a 3-yard run two plays after rookie Robert Quinn's blocked punt, the first in three NFL seasons against Thomas Morstead. Josh Gordy's interception at the Saints 38 gave St. Louis another short field that led to Brandon Lloyd's 8-yard catch.

? 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Giants rally past winless Dolphins

??Eli Manning threw a 25-yard touchdown pass to Victor Cruz with 5:58 to play and the New York Giants barely avoided a post-bye letdown, keeping Miami winless with a 20-17 victory that might put more pressure on embattled Dolphins coach Tony Sparano.

Getty Images

Source: http://nbcsports.msnbc.com/id/45096158/ns/sports-nfl/

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Tuesday, November 1, 2011

Cain says he was 'falsely accused' of harassment

Republican presidential candidate, Herman Cain wipes his forehead before answering questions at the National Press Club in Washington, Monday, Oct., 31, 2011. Denying he sexually harassed anyone, Cain said Monday he was falsely accused in the 1990s while he was head of the National Restaurant Association, and he branded revelation of the allegations a "witch hunt.". (AP Photo/Pablo Martinez Monsivais)

Republican presidential candidate, Herman Cain wipes his forehead before answering questions at the National Press Club in Washington, Monday, Oct., 31, 2011. Denying he sexually harassed anyone, Cain said Monday he was falsely accused in the 1990s while he was head of the National Restaurant Association, and he branded revelation of the allegations a "witch hunt.". (AP Photo/Pablo Martinez Monsivais)

Republican presidential candidate, Herman Cain answers questions at the National Press Club in Washington, Monday, Oct., 31, 2011. Denying he sexually harassed anyone, Cain said Monday he was falsely accused in the 1990s while he was head of the National Restaurant Association, and he branded revelation of the allegations a "witch hunt.". (AP Photo/Pablo Martinez Monsivais)

Republican presidential candidate, Herman Cain speaks at the National Press Club in Washington, Monday, Oct. 31, 2011. (AP Photo/Pablo Martinez Monsivais)

WASHINGTON (AP) ? Denying he ever sexually harassed anyone, Republican presidential candidate Herman Cain declared Monday he was falsely accused in the 1990s while he was head of the National Restaurant Association and the allegations are surfacing now as part of a "witch hunt."

The former pizza company executive was responding to a Politico report that said the trade group gave financial settlements to at least two female employees who had accused Cain of inappropriate sexual behavior. He said he didn't know whether the association provided any such settlements, and he declined to address specifics of the accusations or the resolution.

"There's nothing else there to dig up," he declared at the National Press Club. "We have no idea the source of this witch hunt, which is really what it is."

He added, "This bulls-eye on my back has gotten bigger."

Cain said an investigation into accusations of impropriety while he was the head of the restaurant group determined they were baseless.

"I've never sexually harassed anyone," he told Fox News.

In a later interview with The Associated Press, Cain was asked if he was unaware of the women's specific allegations. "Some of them," he responded.

When pressed, he said was not aware of any of the allegations.

"That was 12 years ago. So no, I don't remember," he said.

Earlier in the day, Cain acknowledged, "I do have a sense of humor and some people have a problem with that." In the interview with AP, Cain said that comment did not refer to the sexual harassment allegations.

"I was just referring to my natural sense of humor. So it was not related to that, OK?" he said.

Earlier he also had said in humorous fashion, "As a result of today's big news story, I really know what it feels like to be No. 1."

The trade association declined to comment on the allegations.

"The incidents in question relate to personnel matters that allegedly took place nearly fifteen years ago. Consistent with our longstanding policy, we don't comment on personnel issues relating to current or former employees," National Restaurant Association spokeswoman Sue Hensley said in a statement.

Cain ? a self-styled outsider relatively new to the national spotlight ? is facing a new level of scrutiny after a burst of momentum in the race for the GOP presidential nomination.

He's been at or near the top of national surveys and polls in early presidential nominating states, competitive with former Massachusetts Gov. Mitt Romney, long considered the Republican to beat. Cain has been pointing to his long record in business to argue that he has the credentials to be president during a time of economic strife.

So far, Cain has seemed to weather a series of stumbles; the former radio talk show host had to clarify recent statements on abortion, the treatment of terrorism suspects and the placing of an electrified fence along the U.S.-Mexico border. He's also shrugged off questions that have started to surface about his management style, including criticisms about a lackluster approach to his own presidential campaign. He lags his top competitors in organization and fundraising.

The new allegations could hurt Cain's efforts to reassure the Republican establishment that someone with so little political experience ? and who hasn't been fully vetted on a national stage ? is prepared to go up against President Barack Obama next fall.

But there were signs that conservatives were rallying behind him, attacking the report as inaccurate and perhaps racially motivated.

The head of the conservative Media Research Center, Brent Bozell, called the Politico story a "High-tech lynching of Herman Cain." That was a reference to Supreme Court Justice Clarence Thomas' response to a former worker's allegations during his confirmation hearing.

"In the eyes of the liberal media, Herman Cain is just another uppity black American who has had the audacity to leave the liberal plantation," Bozell wrote on the conservative website Newsbusters.org.

The allegations came to light Sunday night when Politico reported that at least two women who complained about sexually inappropriate behavior while working for Cain had signed agreements with the restaurant group that gave them five-figure financial payouts to leave the association and barred them from discussing their departures. Neither woman was identified.

The report was based on anonymous sources and, in one case, what the publication said was a review of documentation that described the allegations and the resolution. Politico said Cain spokesman J.D. Gordon told the publication that Cain had indicated to campaign officials that he was "vaguely familiar" with the charges and that the restaurant association's general counsel had resolved the matter.

But Cain, himself, refused to comment to Politico when asked specifically about one of the woman's claims. And when asked if he had ever been accused of harassment by a woman, the publication said Cain responded by asking the reporter, "Have you ever been accused of sexual harassment?"

Gordon told the AP in a written statement late Sunday that "Inside-the-Beltway media have begun to launch unsubstantiated personal attacks" on the candidate.

Despite the controversy, Cain pressed ahead with his full slate of campaign appearances in Washington on Monday.

At a speech at the American Enterprise Institute, he refused to answer questions about the allegations. Still, as he was leaving the stage, he stopped, turned to the crowd and talked about his sense of humor without providing any context. He said his staff tells him to be himself ? or "Let Herman be Herman."

He added: "Herman is going to stay Herman."

An hour later, he was on Fox News.

"If more allegations come, I assure you, people will simply make them up," Cain said. Besides his job as CEO of Godfather's Pizza, he worked at the Federal Reserve Bank of Kansas City.

"What you can expect from my campaign is for me to stay on message, for us to continue to do the things and execute our strategy in order to win the nomination," Cain said.

"Obviously, some people are going to be turned off by this cloud that someone wanted to put over my campaign," he said. "But a lot of people aren't going to be turned off. We'll just have to wait and see what happens."

Associated Press

Source: http://hosted2.ap.org/apdefault/89ae8247abe8493fae24405546e9a1aa/Article_2011-10-31-Cain-Harassment/id-8a5868514fc94ea7b8086d7e60363bb6

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