Palmetto reopens to traffic after crane crash shuts down roadway




















A crane on top of a semi struck an overpass on the busy Palmetto Expressway Friday evening, creating a messy parking lot on one of South Florida’s busiest thoroughfares.

Traffic had to be diverted away in both directions on State Road 826 and Northwest 27th Avenue, causing major delays and detours during rush hour traffic.

The bobcat crane was sitting atop the tractor trailer traveling north on 27th Avenue when the accident occurred around 4:15 p.m. causing significant damage. Engineers from the state Department of Transportation were called out to inspect the overpass and determine the extent of the damage while crews worked to clean up the debris.





Later in the evening, after getting clearance from the structural engineers, the Florida Highway Patrol reopened the street, allowing traffic to flow again in both directions.

Around 8 p.m., FHP trooper Joe Sanchez, a spokesman for the patrol, gave the good news: “The Palmetto is open, thank God almighty.”

However, two lanes of Northwest 27th Avenue remained closed while crews worked into the night to repair the damage and finish the cleanup.

There were no injuries or reports of damage to any other vehicles.

“Our precaution is to get this open as quickly as possible,’’ Sanchez said. “But we have to be able to make sure it safe so cars don’t fall down onto 27th Avenue.”





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Toll-hike hell for NJ-NY drivers








Driving from New Jersey to New York is about to get even more expensive, thanks to the cash-sucking Port Authority.

Passenger-car tolls are heading up tomorrow on the George Washington Bridge, the Lincoln and Holland tunnels and the Staten Island crossings by 75 cents for motorists with E-ZPasses and $1 for those paying cash.

The long-planned hikes, effective as of 3 a.m., push cash tolls to $13 and E-ZPass to $10.25 in peak hours and $8.25 in off-peak hours.

And starting in 2013, PA tolls are to go up three Decembers in a row.

College of Staten Island finance professor Jonathan Peters thinks drivers should be upset with the PA, which makes a 46.9 percent profit on its bridges and tunnels in a region where wages haven’t risen nearly as much as tolls have.




“This is a recession,” Peters said. “I don’t know if the Port Authority has heard.”

AAA is challenging the hikes in a federal suit it filed in 2011, a month after they were approved. Win or lose, it hopes to unearth details about how the PA sets tolls and what it does with the money.

Federal law requires interstate tolls to be “just and reasonable,” said AAA spokesman Robert Sinclair Jr. “We think these toll increases are neither,” he added.










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Boat Show may block Miami’s 2016 Super Bowl bid




















This winter, the biggest NFL match-up in South Florida might be Super Bowl versus Boat Show.

As South Florida readies a bid for the 2016 Super Bowl, it must contend with a major potential conflict on the tourism calendar. The National Football League may move the Super Bowl to Presidents’ Day weekend, already home to the five-day Miami International Boat Show since the 1940s.

It’s a significant enough conflict that, in the past, local tourism officials have declined to pursue a Super Bowl if it fell on boat show weekend. But this time around they may have no choice. For the first time, the NFL is requiring that potential host cities agree to a Presidents’ Day weekend Super Bowl if they want to pursue the big game at all, said two people who have seen the NFL request for Super Bowl bids.





The NFL “invited South Florida [to bid] knowing there was going to be an issue with Presidents’ Day weekend and the boat show,” said Nicki Grossman, Broward’s tourism director. “In the past, South Florida has not responded to a Super Bowl date that included Presidents’ Day weekend. This package is different.”

South Florida vies with New Orleans as the top Super Bowl host, with government and tourism leaders touting the game as both a boon to the economy and a publicity bonanza. But the notion of accommodating both Super Bowl and boat show — not to mention a major arts festival in Coconut Grove — strikes some top tourism officials as a bad idea.

“There is not sufficient hotel inventory available in Miami that weekend to host a Super Bowl,” said William Talbert, president of the Greater Miami Convention and Visitors Bureau. “We have taken a close look at that weekend, and it’s not physically possible in Miami to host Super Bowl during the Presidents’ Day weekend because of the boat show and the Coconut Grove Arts Festival. The hotel inventory is all being used for these two great events.”

His comments are at odds with the region’s top Super Bowl organizer and reflect the burden that the boat show may be to South Florida’s Super Bowl hopes for 2016 and 2017. The NFL invited Miami and San Francisco to bid for the 2016 Super Bowl by April 1, with the loser vying with Houston for the 2017 game. Talbert said the bid package states both decisions will be made in May.

For now, South Florida’s Super Bowl organizers face a largely hypothetical challenge, because the current NFL schedule has the Super Bowl occurring two weeks before Presidents’ Day weekend. The bid requirements for the ’16 and ’17 Super Bowls include three consecutive weekends as possibilities for the game, with the latest falling on the Presidents’ Day holiday.

Still, possible logistical hurdles may combine with political obstacles if the Miami Dolphins resume their push for a tax-funded renovation of Sun Life Stadium, the Super Bowl’s South Florida home.

Last year, the Dolphins proposed that Broward and Miami-Dade counties subsidize a $225 million renovation at Sun Life as a way to keep the region competitive for Super Bowls and other large events. The renovation includes a partial roof that would prevent the kind of drenching Super Bowl spectators suffered in 2007 when a rare February downpour hit Miami Gardens.





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College student seeks immunity in South Miami man’s stabbing death




















James Arauz, the Miami Dade College student who stabbed his mother’s employer to death, testified Thursday in the first day of a hearing to determine whether he would be granted Stand Your Ground immunity.

Arauz, who was 20 at the time, stabbed Vincent Pravada to death and went on a shopping spree with his credit cards in Oct. 2009. Investigators later found bloody fingerprints on a glass that led them to Arauz, who confessed to the murder and claimed self-defense.

The defendant’s mother worked as a housekeeper for Pravada for eight years and Arauz helped do yardwork for four months.





After Arauz’s father died from a heart attack in 2008, the 63-year-old Pravada offered to act as a mentor.

Arauz, an engineering student, testified that Pravada, who was openly gay, occasionally made comments about Arauz’s “beautiful eyes” and asked if he’d ever thought about gay sex.

The defendant’s mother said Pravada was unusually excited when Arauz broke up with his girlfriend less than a month before the stabbing.

From the witness stand Thursday, Arauz said he went to Pravada’s South Miami home to pick up the letter of recommendation he had requested for an internship application.

He said Pravada demanded sexual favors in exchange for the letter.

When Arauz rejected Pravada’s advances and tried to leave, he said the older man “went into a rage and tried to pin me against a wall”

After a chase and physical resistance, Arauz grabbed a decorative knife off a filing cabinet and stabbed Pravada 18 times when he tried to prevent him from opening a metal gate outside the house.

“I had already tried flight and it didn’t work, so I was trying to fight,” Arauz said, describing the desperate struggle for the knife. “It was the survival instinct.”

As Arauz was moving the body back into the house, he saw the victim’s wallet in his pocket and took his credit cards and $480 cash.

Arauz was also facing an outstanding shoplifting charge at the time. He was charged with second degree murder and credit card theft.

Judge Yvonne Colodny will hear further testimony on Friday and decide whether to grant the motion for immunity. If she decides that the defense has not provided enough evidence for Stand Your Ground, the case will go to trial before a jury.





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Apple overcomes last hurdle, iPhone 5 cleared for sale in China as Android continues to dominate












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WATCH: Did Maryland man win the Powerball lottery?








ABC7


Surveillance video from a Maryland gas station shows a man celebrating a Powerball lottery win.



We might have our winners.

Maybe.

According to ABC 7 WJLA, one of the two winning Powerball tickets may have been sold to a highway or construction worker who walked into a Prince George's County, Maryland gas station Thursday and showed employees the winning ticket. That winning ticket would have been bought 2,500 miles away in Arizona.




Surveillance video shows the man, clad in yellow, checking his Powerball numbers - then pumping his fists in celebration before double-checking the numbers with employees and customers.

If that ticket is a winner, it's worth nearly $200 million. Winners have 180 days to redeem their prize.

REUTERS


A man leaves the Trex Mart gas station in Dearborn, Missouri where one of two winning tickets in a $587.5 million Powerball lottery was sold.



We won't have to wait long to learn the identity of the other Powerball winner. Lottery officials in Missouri are holding a press conference this morning to introduce America's newest multi-millionaire, believed to be Mark Hill, 52. The winning ticket was reportedly sold at a Trex Mart gas station in Dearborn, a 500-population town located north of Kansas City.

Wednesday's Powerball jackpot - $587.5 million - was the second-largest in US lottery history, trailing March's $660 Mega Millions jackpot.

Ironically, that Mega Millions win also focused on Maryland, with ill-informed McDonald's employee Mirlande Wilson bragging to co-workers that she won - and telling reporters she hid the ticket at work before ultimately losing it.

No, Wilson was never a lottery winner. Three educators later came forward to collect their share of the jackpot. Seven months later and another Maryland resident is striking lottery luck or daze, this time from 2,500 miles away.

With AP










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California Pizza Kitchen brings prototype to Sawgrass Mills




















The restaurant chain that took barbecued chicken pizza mainstream is ready to push the culinary envelope again. How about a pizza topped with roasted Brussels sprouts and applewood smoked bacon or a Korean barbecue pizza with pork loin and spicy kimchee salad?

Innovative menu items are just one piece of what’s unique about California Pizza Kitchen’s new flagship restaurant unveiled Thursday at Sawgrass Mills in Sunrise. The first of its kind, the Sawgrass location aims to reinvigorate the brand that started in 1985 in Beverly Hills.

“The whole idea is about taking the best of what put us on the map and making it relevant for 2012 and beyond,” said G.J. Hart, who took over as chief executive officer of the chain just over a year ago. “Over the years the brand morphed from being a leader and it became a follower of food trends. We want to bring back the hip, cool feel.”





The changes are obvious from the moment you walk into the restaurant, which opens to the public Monday. The new look is all about focusing on the chain’s California roots. Very little of the bright yellow and chrome remains. The design is California-casual with earth tones and reclaimed wood everywhere from the walls to the floor and tables. An outdoor terrace with couches and fire pits is designed to encourage lingering. Large windows and glass doors let in lots of natural light and fold open to enjoy the weather.

Pizza is center stage with the kitchen designed so diners can watch the pizza makers at work. At the Sawgrass location — and by mid-2013 at all restaurants — pizzas will once again by hand-tossed. Currently the chain uses a pizza press to make the dough more uniform.

The new focus is on upping the culinary quotient across the board with dishes like a roasted beets and whipped goat cheese salad, plus a sweet pea carbonara featuring pea-filled pasta purses tossed with Italian pancetta and a Romano cream sauce. These are some of the unique items only on the Sawgrass menu, which also features a specialty menu of hand-crafted cocktails.

Chain-wide the company has actually slimmed the menu from more than 100 items to 74 in order to improve execution. But there are also more healthy choices like quinoa and arugula salad or a fire-roasted chile relleno stuffed with chicken, cheese, mushrooms, spinach and eggplant that dishes up at only 380 calories.

“As we grew, we didn’t keep up with the creativity on the menu and we tried to be all things to all people,” said Brian Sullivan, senior vice president of culinary innovation, who has been with the company for 24 years. “We’re always going to be pizza-centric. But we’ll continue to push the envelope with these specialty items that resonate with who we are. We don’t want items that you are going to see in other restaurants.”

The chain chose Sawgrass to unveil its new flagship location because of a combination of the area’s diverse demographic base and the influx of international visitors. South Florida has already been a strong market for the brand, which has seven locations in the tri-county area stretching from Coral Gables to Palm Beach Gardens.

The opening is the culmination of a new vision that began to take shape when Golden Gate Capital purchased California Pizza Kitchen in July 2011 for $470 million, taking the company private and bringing in Hart as the new chief executive.

“They saw a brand that was undervalued,” said Hart, who has an ownership stake in the chain. “This is an iconic brand with so much brand equity. If we can bring the excitement and enthusiasm back we’re only going to see it go up.”

Industry experts say the changes make sense because the brand still has a loyal following, although it has not kept pace with the competition.

“It’s a good time for them to go back to what were the fundamental things that made the brand so intriguing,” said Dennis Lombardi of WD Partners, a restaurant industry consultant. “The difficulty is going to be getting the word out to consumers that this is different. The devil is always in the details in these kind of evolutions.”

Based on consumer reaction, the plan is to take pieces of the Sunrise concept and introduce it into the chain’s other 268 existing restaurants. Some restaurants could be completely remodeled, but most will only get elements of the new prototype, which cost $2 million in Sunrise, Hart said. The company’s Fort Lauderdale and Boca Raton locations could be strong candidates for remodeling next year or early 2014, he said.

Community and business leaders, who got a first look at the restaurant on Thursday, were impressed.

“This is phenomenal,” said Luanne Lenberg, general manager of Sawgrass Mills. “We’re so excited to have this caliber of restaurant and to be their test for the rest of the world.”





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Miami-Dade ethics board rebukes two city of Miami commissioners




















The county ethics commission dinged Miami Commissioner Frank Carollo this week for phoning the police chief after Carollo was pulled over for a traffic stop.

Separately, Miami Commission Vice Chairman Marc Sarnoff was reprimanded for not filing a gift disclosure when the Greater Miami Convention & Visitors Bureau paid his way to Brazil.

Sarnoff said his travels did not constitute a gift because he carried out public business. “I did everything I could do, including getting legal advice, to determine that the trip was not a gift,” he said.





Carollo denied wrongdoing in a response to the Miami-Dade Commission on Ethics and Public Trust written by his attorney. He declined comment Wednesday.

The grievance against Carollo said that he called Miami Police Chief Manuel Orosa during a traffic stop in Coconut Grove in August. Carollo was pulled over after attempting to drive his black Lexus around a stopped recycling truck. He called the chief, who called the district commander, who reached out to the officer making the traffic stop.

The officer let Carollo go with a warning.

In the written response to the ethics commission, Carollo’s attorney said the commissioner had never asked Orosa for special treatment. Rather, Carollo called the chief “to inquire ‘what the problem was’ since the circumstances seemed odd.”

The “odd circumstances” included another car stop in the area.

“Commissioner Carollo’s request for a status [report] was well within his authority to communicate with the police chief, and was not accompanied by any request to obtain any resolution of the vehicle stop,” attorney Benedict Kuehne wrote.

Kuehne added: “The officer made the very reasonable decision to issue no traffic citation because the circumstances did not warrant the issuance of a ticket.”

Orosa also told investigators that Carollo had not asked for any favors.

But the ethics commission concluded that Carollo “clearly intended to use his influence with the police chief to avoid a traffic citation.”

“There was no legitimate reason for Carollo to call the chief of police other than to put into motion a chain of events that Carollo hoped would extricate him from a traffic situation that ordinary citizens find themselves in every day,” the ethics commission wrote.

The complaint against Sarnoff involved a trip he and his wife took to Brazil in April.

The pair went to watch the yachts in the Volvo Ocean Race depart Itajai for Miami, the next port of call. Sarnoff also travelled to Rio and Sao Paulo, with the Convention & Visitors Bureau footing the bill for his travel, lodging and meals.

Sarnoff did not disclose the trip as a gift, nor did he disclose that the Volvo Ocean Race had reimbursed him for his wife’s roundtrip airfare.

Sarnoff said he was acting on advice from Miami City Attorney Julie O. Bru. In a legal opinion, Bru said disclosure was unnecessary because the trip did not constitute a gift, but rather city business.

“I never held this secret,” Sarnoff said. “I did everything I was supposed to do. I talked about it openly.” He described the trip as “105 percent work.”

As for Teresa Sarnoff’s travel expenses, Marc Sarnoff said they, too, were incurred during “official” city business.

“The commissioner was unquestionably assisted in his official duties by Ms. Sarnoff and he quite honestly believed that Ms. Sarnoff was conducting city business,” Sarnoff’s attorney, John Dellagloria, wrote in a response to the ethics commission’s findings.

The ethics commission has said that elected officials don’t have to declare tickets to local events they attend for professional reasons. But according to the final report on the Sarnoff case, “all-expense paid trips to distant and exotic locales deserve different consideration since the grandiose scale of the gift creates a larger appearance of impropriety.”

The ethics commission will send a letter to Sarnoff suggesting he report his wife’s travel expenses as a gift. Another letter will be sent to the Miami city attorney to clarify when business trips must be reported as gifts.

The two complaints were filed last month by blogger Al Crespo.

Sarnoff also took a trip to China this year, where he watched the Miami Heat play a preseason game against the Los Angeles Clippers. In October, Sarnoff said the Heat paid for his flight and hotel. On Wednesday, he said the Shanghai Sports Bureau paid for him and his wife.

He now plans to declare that trip as a gift, he said.





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Lindsay Lohan arrested for fighting at NYC nightclub: police








John Shearer/Invision/AP


Lindsay Lohan at a dinner celebrating the premiere of "Liz & Dick" last week



Lindsay Lohan is in hot water again.

The troubled starlet, 26, was arrested early this morning after getting into a fight at a New York City nightclub, police told The Post.

LiLo was at club Avenue in Manhattan — and after exchanging words with a fellow clubgoer, she punched the 28-year-old woman, causing bruising and swelling to the victim's face, cops said.

Law enforcement sources said the victim was initially scuffling with another woman before Lohan got involved.




Police were called, and the victim identified Lohan as her attacker. Lohan was later taken to the 10th Precinct Station House for processing, accused of misdemeanor assault. She's likely to receive a desk appearance ticket, sources said.

The arrest comes days after Lohan's latest career comeback attempt, the Lifetime movie "Liz & Dick," debuted.

But the legal sidetracks continue to build. As TMZ reported last week, Lohan is expected to be charged with lying to LA police about a June traffic accident.

Lohan was accused of clipping a pedestrian with her car outside of the Dream Downtown Hotel earlier this year, but Manhattan prosecutors decided not to pursue a case.

She is currently on probation from a July 2011 jewelry theft. Other previous offenses include DUIs and failed drug tests, ongoing issues for the "Mean Girls" actress whose career once seemed so bright.

Lohan discussed her troubles and growth in an interview last week with Jay Leno.

"I kind of am still a kid, in a way. I'm 26," she said. "You get caught up in everything, and it's important to kind of find yourself and keep yourself through that, and I went through that."

Lohan was actually banned from Avenue years ago, after tweeting about Justin Timberlake's dating blunders, but that ban was later lifted.










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City National Bank of Florida and its Spanish parent have four years to evaluate the Miami bank’s future ownership




















City National Bank of Florida, the Miami bank purchased by Bankia (formerly Caja Madrid) of Spain in November 2008, said Wednesday that its parent has a “four-year window to evaluate alternatives” for the bank’s future ownership and will work closely with management in Miami during the process.

The Spanish government has reached and agreement with the European Union related to Spain’s financial system problems, which will result in a recapitalization of Bankia and other institutions, the bank said. The agreement calls for Bankia to sell non-core assets and its holdings outside of Spain so that Bankia will emerge with a solid capital position and be more focused on its core domestic business.

“Because City National Bank is so well capitalized, profitable and well positioned in the marketplace, we are going to take our time to fully evaluate all of our strategic alternatives,” City National Bank President and CEO Jorge Gonzalez said in a statement. “This does not impact our ongoing strategy of profitable growth and diversification or our commitment to the markets we serve. Our focus continues to be taking excellent care of our clients and employees. ”





City National, founded 65 years ago, has $4.32 billion in assets and 26 branches from Miami-Dade County to the greater Orlando area.

INA PAIVA CORDLE





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Group to begin reviewing Miami-Dade’s elections practices




















A group tasked with making recommendations to improve Miami-Dade elections will begin meeting Tuesday morning, three weeks after Election Day was marked by long lines and a surge of absentee ballots that took several days to count.

County Mayor Carlos Gimenez convened the advisory group to examine state and local elections laws and practices, and suggest changes. The first meeting is expected to feature an overview of legal issues, an outline of the county’s approach to elections and a tour of Miami-Dade’s elections headquarters.

The elections department has not yet submitted its “after-action report,” a post-mortem detailing how things went during the election.





The group will meet at 9 a.m. Tuesday at the county’s Doral elections department, 2700 NW 87th Ave. The meeting is open to the public.

In addition to Gimenez, the group includes 13 members he appointed. Among them are four county commissioners: Lynda Bell, Sally Heyman, Dennis Moss and Rebeca Sosa.

The other members are: Alice Ancona of the Greater Miami Chamber of Commerce; the Rev. Victor Curry, president of the Miami-Dade chapter of the NAACP; Miami Gardens Mayor Oliver Gilbert; former County Attorney Murray Greenberg; Lovette McGill, an activist who has been involved with African-American trade unionists; Gepsie Metellus, executive director of Sant La, a Little Haiti-based social services agency; C.J. Ortuño, executive director of the gay-rights advocacy group SAVE Dade; and elections attorneys Kendall Coffey and Robert Fernandez, who represented Gimenez and newly elected Property Appraiser Carlos Lopez-Cantera in recent elections challenges.





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The Complete List: 'Dancing with the Stars' Winners


The Complete List: 'Dancing with the Stars' Winners


On Tuesday night, TV personality and former Bachelor contestant Melissa Rycroft became the latest Dancing with the Stars victor! Click through the gallery for a look back at all the previous mirror ball winners.


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3 BP employees to be arraigned on criminal charges over Deepwater Horizon spill








NEW ORLEANS — Two BP rig supervisors and a former BP executive were scheduled to be arraigned Wednesday on criminal charges stemming from the deadly Deepwater Horizon rig explosion and the company's response to the massive 2010 spill in the Gulf of Mexico.

BP well site leaders Robert Kaluza and Donald Vidrine were indicted this month on manslaughter charges in the death of 11 rig workers. The federal indictment accuses them of disregarding abnormal high-pressure readings that should have been glaring indications of trouble just before the blowout of BP's Macondo well.





Reuters



Fire boat response crews battle the blazing remnants of the offshore oil rig Deepwater Horizon in April 2010.





Former BP executive David Rainey was charged separately with concealing information from Congress about the amount of oil that was leaking from the well.

Their defense attorneys have vowed to fight the charges.

The hearing comes a day after a BP lawyer entered a not-guilty plea for the company as it was arraigned on related criminal charges. The plea Tuesday in federal court was a procedural move paving the way for the company to plead guilty at a later date.

BP announced earlier this month that it will plead guilty to manslaughter, obstruction of Congress and other charges and pay a record $4.5 billion in penalties to resolve a Justice Department probe of the disaster.

Attorneys for BP and the Justice Department are scheduled to meet Dec. 11 with a federal judge to discuss a date for pleading guilty.

The Deepwater Horizon oil rig, owned by Transocean Ltd. but operated on behalf of BP, was drilling in the Gulf of Mexico about 50 miles southeast of the Louisiana coast the night of April 20, 2010, when it was rocked by an explosion. The rig burned for about 36 hours before sinking to the Gulf bottom a mile below the surface.

The bodies of 11 workers were never recovered.

The blast led to the nation's worst offshore oil disaster as millions of gallons of crude oil spewed from BP's well.










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Gift ideas for the techie on your list




















The holidays are coming fast, and if you’re like me, you’ve probably gotten very little of your gift shopping done.

Here are suggestions for a variety of gifts for the techie and the not-so-techie people on your list.

Some of these items can be found in stores and some are only available online, but you should be able to order them in time for Christmas or Hanukkah.





IOMEGA EZ MEDIA & BACKUP CENTER

What is it? A hard drive that lives on your home network so you can share files, store all your photos and music and back up your home computers. Works on Macintosh, Windows and Linux computers.

The EZ Media & Backup Center is available in 1-, 2- and 3-terabyte capacities. It is simple to set up. It lives next to your home router and plugs into the network via Ethernet.

Major features include a built-in iTunes server so your music is available to all connected computers, Time Machine support for easy Macintosh backups and Iomega’s Personal Cloud to access your data from any Internet connection.

It can also stream your video files to your TV if you’ve got a compatible streaming box or an Internet-connected TV.

Software for backing up Windows PCs is also included.

Who’s it for? Any family that wants central storage for their digital lives. This is a great home for your digital photo, music or video library.

What does it cost? One terabyte for $169.99, two terabytes for $209.99, three terabytes for $279.99.

Where can you get it? Online at www.iomega.com, Amazon, Best Buy, Apple store, Fry’s.

NETATMO URBAN WEATHER STATION

What is it? A wireless indoor/outdoor weather station that displays through an application on your Apple or Android mobile device.

There are two parts, one that lives in your house and one you place outside.

The indoor component plugs into the wall and monitors the temperature, humidity, barometric pressure, carbon dioxide level and even the sound level in decibels.

The outdoor module is battery-powered and measures temperature and humidity.

Once you connect the Netatmo to your home Wi-Fi network, you can download the free app and see your weather stats from anywhere.

Setup was easy enough, and you can set the app to notify you when carbon dioxide rises to levels that you should be warned about — which is great.

Who’s it for? Weather geeks and people who like to know what the temperature is without having to fire up a browser.

What does it cost? $179

Where can you get it? www.netatmo.com

3M LED ADVANCED LIGHT

What is it? 3M’s first foray into the home light bulb market is with the LED Advanced Light, which uses light-emitting diodes (LED) to produce 800 lumens (the light of a 60-watt bulb).

The Advanced Light has a life span of 25 years and costs just $1.63 per year if it’s turned on for three hours per day.

The bulb lights instantly and is dimmable.

It’s a little intimidating to start buying light bulbs that might outlive me, but my wallet approves.

Who’s it for? Anyone who wants to save money or wants a bulb that might not have to be changed until 2035.

What does it cost? $25

Where can you get it? Select Wal-Mart stores. For more information, go to www.3mlighting.com/LED.

STEM IZON 2.0 WI-FI VIDEO MONITOR

What is it? A small, wireless video camera that you can monitor remotely with an iOS device.





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FPL’s request for nuclear energy costs gets OK




















The Florida Public Service Commission Monday approved $151 million in advance nuclear costs for Florida Power & Light Co., the total amount the utility requested.

The unanimous vote means that a customer who uses 1,000 kilowatt hours a month will be charged $1.69 a month for the advance costs beginning in January, the PSC said. This year that customer is paying $2.20 a month.

The commission also approved $142 million in nuclear costs for St. Petersburg-based Progress Energy Florida.





FPL’s breakdown for the costs includes $20 million for two proposed new reactors, Turkey Point 6 and 7, in South Miami-Dade.

Roughly $131 million is for expansions of two existing reactors at Turkey Point and two at the St. Lucie nuclear plant on Hutchinson Island.

The costs were approved despite objections from the Southern Alliance for Clean Energy, which has said that FPL has failed to demonstrate its intent to actually build the new Turkey Point reactors.

“The PSC accepted all of the PSC staff recommendations issued earlier this month — an unfortunate trend of rubber-stamping that we have seen year after year in spite of major obstacles and pitfalls that have made new reactor proposals in Florida less and less feasible,” SACE executive director Stephen Smith said in a statement Monday.

The group’s challenge of the constitutionality of a Florida law passed in 2006 that allows utilities to recover nuclear costs for expenses such as reactor design and licensing before construction is awaiting a decision by the Florida Supreme Court.





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India: 2 policemen suspended, magistrate transferred for arrest of 2 women over Facebook post












NEW DELHI – An Indian official says two senior policemen have been suspended for arresting two women over a Facebook post criticizing the shutdown of Mumbai for the funeral of a powerful politician.


Maharashtra state Home Minister R.R. Patil said Tuesday the policemen were suspended indefinitely and the magistrate who registered the case against the women has been transferred to another district.












Police also arrested nine men who vandalized a medical clinic run by the uncle of one of the women, Patil said.


One of the women had posted a Facebook comment complaining that Mumbai had come to a standstill after the death of rightwing leader Bal Thackeray. Her friend “liked” the post.


Their arrest last week was seen as a misuse of Internet laws and an attempt to curb freedom of expression.


Social Media News Headlines – Yahoo! News


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How Zero Dark Thirty Copied Bin Laden's Compound

Oscar-winning director Kathryn Bigelow reteams with her Hurt Locker screenwriter Mark Boal for Zero Dark Thirty, a chronicling of the hunt for Osama bin Laden, and the two opened up to Nightline about how they recreated bin Laden's compound.

VIDEO: Zero Dark Thirty Trailer

The filmmakers built a full-scale version of the compound in Jordan, and Bigelow says that everything from the carpet to the marks on the walls were taken from ABC News footage that she studied frame by frame.

"Everything we could find from that video we replicated," Bigelow said. "Every conceivable piece of information that we could find we replicated."

As to the controversy over whether or not the filmmakers received classified information to make the movie, Mark Boal says, "I certainly did a lot of homework, but I never asked for classified materials. To my knowledge I never received any."

Zero Dark Thirty, starring Jessica Chastain, Kyle Chandler, James Gandolfini, Chris Pratt and Jennifer Ehle, hits theaters January 11.

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Experts exhume Arafat's remains, test for poison








RAMALLAH, West Bank — Palestinian authorities on Tuesday opened Yasser Arafat's grave and foreign experts took samples from his remains as part of a long-shot attempt — eight years after the iconic leader's mysterious death — to determine whether he was poisoned, as relatives and some political successors have claimed.

The exhumation began before dawn, under the cover of huge sheets of blue tarpaulin draped over Arafat's mausoleum in his former government compound in the West Bank city of Ramallah.

By mid-morning, the grave was reclosed, said Tawfik Tirawi, a former Palestinian intelligence chief who heads the investigation into Arafat's death.





Getty Images



Secretary General of the Palestinian Presidency Tayeb Abdel Rahim places a wreath of flowers at the tomb of Yasser Arafat during a ceremony Tuesday.





Arafat died in November 2004 at a French military hospital, a month after suddenly falling ill at his Ramallah compound, which was at the time besieged by Israeli troops. The immediate cause of death was a stroke, but the underlying reasons were unclear, leading to widespread belief in the Arab world that Israel poisoned the 75-year-old symbol of Palestinian nationalism.

Israel has denied involvement in Arafat's death.

An investigation was launched at the time, but it then lay dormant for years, only to be revived this summer when a Swiss lab detected elevated traces of a lethal radioactive substance, polonium-210, in biological stains on his clothing.

The lab said the tests were inconclusive and that it needed to examine the remains for a clearer picture. Arafat's successor, Mahmoud Abbas, authorized the exhumation despite strong cultural and religious taboos against disturbing a gravesite, apparently to avoid any suggestion that the current leadership was standing in the way of a thorough investigation.

Since mid-November, workers have been drilling through thick layers of concrete encasing the tomb.

The grave was opened before dawn Tuesday, according to a Palestinian official who spoke on condition of anonymity because he was not authorized to discuss the details of the exhumation with the media.

The official said some of the remains were moved to a nearby mosque, but that the team then encountered technical difficulties. He would not elaborate. The experts decided to return the remains to the grave and take the samples without moving what was left of the body, the official said.

The exhumation was attended by experts from Switzerland, France and Russia who will examine the samples in their home countries, the official said. Earlier, samples were also taken from Arafat's bedroom, office and personal belongings, he said.

Public reaction in the West Bank was mixed.










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Shoppers welcome holiday sales by buying early, often — and online




















Shoppers swooped into stores in droves on Thanksgiving weekend, topping last year’s sales, as more retailers opened their doors earlier than ever on Thursday, luring bargain hunters away from eating another plate of turkey.

And now Cyber Monday is expected to set a record for online shopping this year, for those who prefer the Internet to the mall.

Spending per shopper nationwide averaged $423 — $25 more than last year — from Thursday to Sunday, while total spending increased nearly 13 percent, to an estimated $59.1 billion, according to a survey by the National Retail Federation.





“I think the only way to describe the Thanksgiving openings is to call it a huge win,” said Matthew Shay, the trade group’s president and chief executive. Shopping, he said, “has really become an extension of the day’s festivities.”

South Florida was no exception, as a flurry of stores, as well as several malls, opened on Thanksgiving. Thursday has seemingly become the new Black Thursday, taking a bite out of the old-fashioned kickoff day of the holiday, Black Friday.

“We had an excellent weekend,” said Humberto Maldonado, director of marketing for Dadeland Mall, which opened at midnight on Thursday. Sales figures are not yet in, but the overall trend was up from last year, he said Monday.

“It was really busy from midnight to 5 a.m., then it slowed, and picked up again at 7 a.m. or 8 a.m., and stayed busy all day on Friday,” Maldonado said.

Nationwide, about 35 million people visited stores and shopping websites Thursday, up from 29 million last year. More than double that number — 89 million, up from 86 million — shopped on Black Friday.

“There were more people shopping every single day of the weekend,” Shay said.

Topping off the weekend, Cyber Monday’s early results, tabulated at 3 p.m. Monday, showed that online shopping was up a whopping 25.6 percent compared with the same time period a year ago, according to figures by IBM Benchmark.

Nationwide, most of the weekend’s shoppers — roughly 58 percent — bought clothing and accessories. Another 38 percent bought electronics and 35 percent shelled out for toys, National Retail Federation figures show.

Retailers made an effort to lure people in, with updated mobile shopping applications for smartphones and tablets, and expanded shipping and layaway options.

Still, it remains to be seen whether increased sales over the Thanksgiving weekend will translate to higher sales throughout the holiday shopping season. Analysts have been predicting mediocre sales this year, nationwide, as shoppers remain uncertain about the broader economy. Overall holiday sales are expected to increase 4.1 percent from 2011, compared with sales growth of 5.6 percent last year, the National Retail Federation said.

However, Florida is expected to beat those figures. Buoyed in large part by tourists and snowbirds, the Florida Retail Federation is forecasting a 5.3 percent gain this year over last, to $58 billion, marking the highest percentage growth predicted since the recession. Pre-recession, retail sales peaked at $54.3 billion in 2006.

Christian Cutillo, 26, of Weston, hit Walmart, then Sears, Target and Old Navy after eating Thanksgiving dinner.

She began at 7:30 p.m. Thursday and by 3 a.m. Friday she had finished shopping for all 15 people on her list, mostly buying clothing and toys.





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Police seize haul of bogus lobster tags




















An ongoing investigation into an elaborate scheme to counterfeit state-issued tags for spiny lobster traps has pulled in a second suspect.

Jesus Alonso Perez, 51, of Miami was charged with possession of phony trap tags after his arrest last week by Florida Fish and Wildlife Conservation Commission officers in Miami-Dade County.

Perez is the first person arrested in the case since Ramon Rojas, 44, of Hialeah was arrested on Monroe County and Miami-Dade warrants earlier this month.





Rojas has been charged with dozens of conservation counts for possessing and using fake trap tags, and fishing traps without required state certificates. A handful of Rojas' personal traps bearing counterfeit trap tags were hauled from water off Big Pine Key before his arrest.

"During the investigation, we were able to determine [Rojas] actually was in the midst of selling some of these counterfeit tags and ended up selling 100 at $50 a pop," said FWC Officer Jorge Pino, an agency spokesman. "We knew some of these tags were being used already."

The case could lead to additional state and federal counts.

Investigation started June 29 when U.S. Customs and Border Patrol agents intercepted a suspicious package shipped to Florida from Colombia.

Inside the package were 1,512 yellow plastic tags bearing serial numbers and state identification. The package was passed along to federal wildlife officers, who forwarded it to the FWC.

"To an untrained eye, they might have looked like real tags but our inspector immediately identified the tags as counterfeit," Pino said. "Not to mention, they were coming into Florida from Colombia."

The package was re-sealed for delivery, with FWC officers keeping watch. Other details on the investigation are still considered confidential.

"We've seen counterfeit trap tags before so that wasn't a surprise," Pino said. "We were a little surprised at the lengths he went to, going to another country to get this many."

"This goes contrary to everything the FWC is trying to achieve as a conservation agency in terms of protecting the resource," Pino said. "Putting what could have been a large number of illegal traps in the water has the potential to do a lot of damage."

Trap tags have been required by the state since 1992 as part of an effort to control and reduce the number of traps used by Florida commercial fishermen. Currently about 490,000 tags are issued annually, down from a peak of 750,000. Lobstermen receive an allocation of tags based on their history of commercial trap harvests.

People who want to enter the fishery or increase their trap numbers must buy trap certificates, which include the right to buy trap tags, from other fishermen. A tag itself costs only $1 each from the state but certificates can sell for more than $100 each.





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Grammys Flashback: Aerosmith 1995

Aerosmith has etched itself into rock music history through its many years in the business, but it hasn't always been a smooth road for the band. In 1995, after Aerosmith had just won its third Grammy, the band reflected on the turbulent journey they had led.

Following their soaring launch into the music industry in the '70s with five platinum albums, Aerosmith suffered a rift in the band that wasn't emanating from Joe Perry's guitar. Perry left the band and formed his own project in 1979, which didn't bode well with fans.


VIDEO: Aerosmith Releases First Music Video in 8 Years

The band got together five years later, and was able to recapture its deep fan base after a few albums. Almost a decade after reuniting, Aerosmith put out Get a Grip, which earned it the Best Rock Performance Grammy in two consecutive years. After receiving the award for "Crazy," lead vocalist Steven Tyler and drummer Joey Kramer reflect on the band's schism.

"We got a good chance to see what it was that breaks bands up and how foolish it is [because] the music is the biggest thing," Tyler says in the pressroom following the award. "When we get five guys together and they can create something like a song or an album or a good time, you don't want to kill that for any reason."


VIDEO: Aerosmith Talks Global Warming Tour

"The ironic thing is that we were the last ones to know about it, about how it felt," Kramer adds.

In 2009, nearly fifteen years after the band had professed that it had learned its lesson, Aerosmith quaked again from another rift involving Perry. Tyler was then nearly replaced as lead singer, but all was eventually amended.


VIDEO: Aerosmith Rocks Out, Steven Tyler Chews Mic

All bridges magically remained intact and the band recently put out its fifteenth studio album, Music From Another Dimension!.

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Cyber Monday likely to be the year's busiest online sales day








AP


Cyber Monday is likely to be the year's busiest online sales day.



Bye-bye Black Friday. So long Small Business Saturday. Now, it's Cyber Monday's turn.

Cyber Monday, coined in 2005 by a shopping trade group that noticed online sales spiked on the Monday following Thanksgiving, is the next in a series of days that stores are counting on to jumpstart the holiday shopping season.

It's estimated that this year's Cyber Monday will be the biggest online shopping day of the year for the third year in a row: According to research firm comScore, Americans are expected to spend $1.5 billion, up 20 percent from last year on Cyber Monday, as retailers have ramped up their deals to get shoppers to click on their websites.




Amazon.com, which is starting its Cyber Monday deals at midnight on Monday, is offering as much as 60 percent off a Panasonic VIERA 55-inch TV that's usually priced higher than $1,000. Sears is offering $430 off a Maytag washer and dryer, each on sale for $399. And Kmart is offering 75 percent off all of its diamond earrings and $60 off a 12-in-1 multigame table on sale for $89.99.

Retailers are hoping the deals will appeal to shoppers like Matt Sexton, 39, who for the first time plans to complete all of his holiday shopping online this year on his iPad tablet computer. Sexton, who plans to spend up to $4,000 this season, already shopped online on the day after Thanksgiving known as Black Friday and found a laptop from Best Buy for $399, a $200 savings, among other deals.

"The descriptions and reviews are so much better online so you can compare and price shop and for the most part get free shipping," said Sexton, who lives in Queens, N.Y., and is a manager at a utility company.

Sexton also said that it's easier to return an online purchase to a physical store than it had been in previous years. "That helps with gifts," he said.

How well retailers fare on Cyber Monday will offer insight into Americans' evolving shopping habits during the holiday shopping season, a time when stores can make up to 40 percent of their annual revenue. With the growth in high speed Internet access and the wide use of smartphones and tablets, people are relying less on their work computers to shop than they did when Shop.org, the digital division of trade group The National Retail Federation, introduced the term "Cyber Monday."

"People years ago didn't have ... connectivity to shop online at their homes. So when they went back to work after Thanksgiving they'd shop on the Monday after," said Vicki Cantrell, executive director of Shop.org. "Now they don't need the work computer to be able to do that."

As a result, the period between Thanksgiving and Cyber Monday has become busy for online shopping as well. Indeed, online sales on Thanksgiving Day, traditionally not a popular day for online shopping, rose 32 percent over last year to $633 million, according to comScore. And online sales on Black Friday were up 26 percent from the same day last year, to $1.042 billion. It was the first time online sales on Black Friday surpassed $1 billion.

For the holiday season-to-date, comScore found that $13.7 billion has been spent online, marking a 16 percent increase over last year. The research firm predicts that online sales will surpass 10 percent of total retail spending this holiday season. The National Retail Federation estimates that overall retail sales in November and December will be up 4.1 percent this year to $586.1 billion

But as other days become popular for online shopping, Cyber Monday may lose some of its cache. To be sure, Cyber Monday hasn't always been the biggest online shopping day. In fact, up until three years ago, that title was historically earned by the last day shoppers could order items with standard shipping rates and get them delivered before Christmas. That day changes every year, but usually falls in late December.

Even though Cyber Monday is expected to be the biggest shopping day this year, industry watchers say it could just be a matter of time before other days take that ranking.

"Of all the benchmark spending days, Thanksgiving is growing at the fastest rate, up 128 percent over the last five years," said Andrew Lipsman, a spokesman with comScore.










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Shifting tides of Panama real estate echo Miami trends




















PANAMA CITY, Panama — As a real estate agent shows off a model apartment — white leather sectional, stainless steel appliances, open concept, ocean views — in the 59-story Yacht Club Tower, and touts its fitness center and pool deck designed to mimic a ship floating on the sea, he makes a telling statement:

“We tried to emulate the Miami style in this building.”

Approaching this Central American capital from the air, the first thing a traveler notices is a skyline on steroids — gleaming towers jutting skyward like so many pickets on a fence. There’s even a Trump high-rise here — the sail-shaped 72-story Trump Ocean Club International Hotel & Tower. And it’s not uncommon for those active in Miami real estate and development circles to try their luck in Panama or move back and forth between the markets.





Although Miami is nearly 1,200 miles from Panama City, the real estate markets of the two cities share certain similarities. Both went through booms and overbuilding and then had way too many empty condominiums. Wealthy Latin American buyers were a salvation in both cities when traditional segments of the market fell off.

“Now that things are starting to pick up in the States, they are picking up here too. Now that there’s not as much economic uncertainty in the United States, people feel more confident about Panama too,’’ said Morris Hafeitz, general manger of Emporium Developers. He used to work in Miami as a project manager for Odebrecht, the Brazilian conglomerate.

Now Hafeitz is trying to sell Allure at the Park, a 50-story building Emporium developed in Panama City’s Bella Vista neighborhood. The building is chock full of amenities — gym, teenage game room, adult lounge, toddler playroom, pool, squash court and even miniature golf on the roof — but one of its main selling points is that it overlooks a park and two low-rise historic buildings. “In the heart of the city without the hassles of the city,’’ said Hafeitz.

During the boom, many buildings in central Panama City went up practically on top of each other. “In the beginning of the boom there were no regulations on density,’’ said Mauricio Saba, a project manager at Zoom Development in Panama City and another Miami real estate alum. “I have a friend who said he could watch his neighbor’s TV from his balcony.’’

Margarita Sanclemente, a Miami real estate broker with offices in Panama City and New York, has seen it all — the boom, the irrational building and the slowdown — and has stuck with the Panamanian market.

She first ventured into Panama in 2005. The Panamanian real estate market, which had been sluggish for more than a decade, was undergoing a rebirth and Americans, lured by low prices and the low cost of living, were snapping up properties.

The sweet spot was the 1,000 to 1,500-square-foot apartment, sans maid’s quarters, which appealed to retirees from Canada and the United States, she said.

That was back when Americans still believed you couldn’t go wrong with real estate. “Some of the buyers didn’t even see the units. We sold them by phone,’’ Sanclemente said. Condo prices at new buildings such as Destiny averaged $98 to $120 per square foot. She herself bought a 1,000 square foot, one bedroom condo for $123,000 back in 2005.





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Never mind shopping; Messiah concert marks start of holiday season




















Participating in the annual Messiah sing-in, always made me feel like the Season had begun. I was a member of the community chorus for many years, under the late Dr. Lee Kjelson. It was a wonderful feeling, singing the words from the Bible that foretold the coming of Jesus. Now, decades later, the Messiah sing-in tradition is still going strong.

At 2:30 p. m. on Dec. 9, the Miami Dade College Kendall Campus will present the Civic Chorale of Greater Miami in the 41st Annual Messiah Sing-in at Old Cutler Presbyterian Church, 14401 Old Cutler Rd. in Palmetto Bay. Dr. Kenneth Boos is the artistic director of this time-honored event, and Robert Gower and John Guarente are the conductors. Jay Brooks is the organist. The singers will be backed by the Alhambra Orchestra, conducted by Alfred Gershfeld.

The program will feature the Chorale in a brief concert featuring original works and familiar classical selections. Following the concert, community singers are invited to join the Chorale in the singing of the Christmas sections of Handel’s beloved Messiah.





Founded by Kjelson, the Civic Chorale has been a vital part of the South Florida musical community since 1970. the group is comprised of students and adult members of the community, who share a love for singing and musical excellence. The Chorale is housed at Miami-Dade College Music, Theater and Dance Department, at the Kendall campus. Rodester Brandon is the chairperson.

Singers are asked to bring their own Messiah score, if possible. A limited number will be available for use on the day of the concert.

This is the way it works: Rehearsal for participating singers will be at 2:30 p.m., followed by the concert at 4 p.m. Admission is free, but a goodwill offering will be collected. This year, Miami food trucks will be at the event.

For more information, contact Phee Price, executive director of the Chorale at 305-490-5930 You may also visit the Chorale’s website at, www.civicchorale.info.

String quartet goes to Washington

Congratulations to Miami pianist Alan Mason and Florida International University’s Amernet String Quartet, who on Dec. 6, will perform at the Kennedy Center in Washington.

Mason is an associate professor of music at Barry University and the Amernet String Quartet is in residence at FIU. The musicians will perform in a concert called "From Psalm to Lamentation: A Concert of Cantorial Masterpieces," presented by Pro Musica Hebraica, an organization that was created by Pulitzer Prize-winning columnist Charles Krauthammer and lawyer-turned-artist Robyn Krauthammer to present three concerts a year featuring the music of Jewish composers. .

The Dec. 6 concert will pay homage to the golden age of cantors and to the liturgical music of modern times and will feature Cantor Netanel Hershtik and the Hampton Synagogue Choir.

In addition to the Kennedy Center performance, the concert will be presented on Dec. 2, at New York’s Museum at Eldridge Street.

Mason is the music director of Temple Israel of Greater Miami and has performed at the White House, Lincoln center and Carnegie Hall. He has also performed in Rome, the United Kingdom and Israel. He is a leading accompanist of Jewish music and also serves as the program director and accompanist of the Winter Jewish Music Concert presented annually here in Miami. that concert will be on Jan. 19, and will be broadcast live on the JLTV cable network.





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Saudi telco regulator suspends Mobily prepaid sim sales












(Reuters) – Saudi Arabia‘s No.2 telecom operator Etihad Etisalat Co (Mobily) has been suspended from selling pre-paid sim cards by the industry regulator, the firm said in a statement to the kingdom’s bourse on Sunday.


Mobily’s sales of pre-paid, or pay-as-you-go, sim cards will remain halted until the company “fully meets the prepaid service provisioning requirements,” the telco said in the statement.












These requirements include a September order from regulator, Communication and Information Technology Commission (CITC). This states all pre-paid sim users must enter a personal identification number when recharging their accounts and that this number must be the same as the one registered with their mobile operator when the sim card was bought, according to a statement on the CITC website.


This measure is designed to ensure customer account details are kept up to date, the CITC said.


Mobily said the financial impact of the CITC’s decision would be “insignificant”, claiming data, corporate and postpaid revenues would meet its main growth drivers.


The firm, which competes with Saudi Telecom Co (STC) and Zain Saudi, reported a 23 percent rise in third-quarter profit in October, beating forecasts.


Prepaid mobile subscriptions are typically more popular among middle and lower income groups, with telecom operators pushing customers to shift to monthly contracts that include a data allowance.


Customers on monthly, or postpaid, contracts are also less likely to switch provider, but the bulk of customers remain on pre-paid accounts.


Mobily shares were trading down 1.4 percent at 0820 GMT on the Saudi bourse.


(Reporting by Matt Smith; Editing by Dinesh Nair)


Tech News Headlines – Yahoo! News


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Larry Hagman Dies

Larry Hagman, best known for playing Dallas villain J.R. Ewing, died Friday morning from complications stemming from his recent battle with cancer.

He was 81 years old.

Video: Larry Hagman Talks 'Dallas', Cancer and Veganism

"Larry was back in his beloved Dallas, re-enacting the iconic role he loved most," his family said in a statement via The Dallas Morning News. "When he passed, he was surrounded by loved ones. It was a peaceful passing, just as he had wished for. The family requests privacy at this time."

Hagman's rep says the late actor will be cremated.

His Dallas co-stars Linda Gray (who played his wife Sue Ellen) and Patrick Duffy (who played his brother Bobby) were reportedly at his bedside when he died, The Sun is reporting.

"Larry Hagman was my best friend for 35 years. He was the Pied Piper of life and brought joy to everyone he knew," Gray told ET in a statement. "He was creative, generous, funny, loving and talented, and I will miss him enormously. He was an original and lived life to the fullest ... The world was a brighter place because of Larry Hagman."

"Friday I lost one of the greatest friends ever to grace my life. The loneliness is only what is difficult, as Larry's peace and comfort is always what is important to me, now as when he was here," Duffy said in a statement. "He was a fighter in the gentlest way, against his obstacles and for his friends. I wear his friendship with honor."

Victoria Principal, who played Pamela Barnes Ewing, added, "Larry was bigger than life ... on screen and off. He is unforgettable, and irreplaceable, to millions of fans around the world, and in the hearts of each of us, who was lucky enough to know and love him. Look out God ... Larry's leading the parade."

Video: J.R. Menaces in New 'Dallas'

Hagman, who also starred as Air Force Captain Anthony Nelson in I Dream of Jeannie, was last seen on television in TNT's Dallas reboot, where he returned to play his most well-known character.

"Larry Hagman was a giant, a larger-than-life personality whose iconic performance as J.R. Ewing will endure as one of the most indelible in entertainment history," Warner Bros., Dallas executive producers Cynthia Cidre and Michael M. Robin, and the show's cast and crew said in a statement. "He truly loved portraying this globally recognized character, and he leaves a legacy of entertainment, generosity and grace. Everyone at Warner Bros. and in the Dallas family is deeply saddened by Larry's passing, and our thoughts are with his family and dear friends during this difficult time."

"It was truly an honor to share the screen with Mr. Larry Hagman," Dallas reboot star Jesse Metcalfe, who plays Christopher Ewing, said in a statement. "With piercing wit and undeniable charm he brought to life one of the most legendary television characters of all time. But to know the man, however briefly, was to know a passion and dedication for life and acting that was profoundly inspirational."

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Bond bubble bust









headshot

Jonathon M. Trugman





There goes the nest egg.

There’s a record $16.3 trillion of US debt and a good portion of that is sitting in baby boomers’ portfolios like a ticking time bomb ready to explode, and most investors know little about it.

“It’s my worst nightmare,” says a long-only bond fund manager. “There’s nothing I can do — the checks come in [from clients] every day, and I have to invest it.”

With Ben Bernanke’s debt paper floating through the market and the Fed chief vowing to keep rates low until 2015, some bond managers are hoping to get out before the bubble bursts and Armageddon hits.




And rates would not have to go through the roof to take out billions in principal for investors, most of whom are in bonds because they are nearing retirement.

“If the 10-year [bond] goes up 100 basis points, that could mean more than $35 billion is lost,” says one bond trader.

One hundred basis points is just a 1 percent increase, which would put the 10-year at about 2.6 percent. The average rate of return over the last decade is roughly 4 percent, which, if we return to that yield, could put principal losses close to $500 billion, says a bond manager.

Bond prices (your principal) and interest rates (yield) move in opposite directions. When rates rise, bond prices fall. The inverse is, of course, true as well. When rates fall, the price (your principal) of the bond rises.

The problem today is that short-term Federal Reserve funds rates are pegged at zero percent. In addition, the Fed’s irresponsible bond-buying spree, dubbed QE, has driven even long-term rates insanely low, to 1.5 or 1.6 percent on the 10-year Treasury.

Without rewriting arithmetic, rates have nowhere to go but up — and, eventually, up quite a bit. And the principal invested in bonds will fall substantially.

Most older Americans have done their part, putting away a little bit each month towards their retirement, cutting back on household budgets and selling their riskier equity investments in favor of “safer” US Treasury bonds.

Well, that’s where they may have gone wrong. While most financial advisers still steer their near-retirement clients into bond funds, these are extraordinary times where the latest bubble — bonds — is about to explode, just like the two previous bubbles.

The Fed’s bizarre move “forward” into a massive multitrillion-dollar bond-buying binge has left all investors more vulnerable today than they were in 2000 after the Internet bubble, or the housing-bubble bust in 2008.

Investors implicitly understood that there were certain levels of risk inherent in Internet/technology stocks in the beginning of the dot-com economy, where an idea and a sock puppet could garner a $100 million market cap. The same applied a few years later, when investors saw the price of their homes double over three years on nothing more than easy credit and lax regulator supervision.

But sadly, few Americans understand just how risky bonds are at this very moment. For generations, investors have looked to US bonds/Treasuries as “low-risk” savings instruments, almost like a bank CD. Bond losses were always something that happened in other countries like Argentina, Greece or Portugal, not America.

It is not as complicated as some would pretend, but it is extremely important for all to understand — especially those planning on retiring soon. Pension plans, 401(k)s, annuities, IRAs — retirement vehicles have never been more at risk than they are now.

Most Americans don’t spend their time trying to comprehend the likes of quantitative easing or yield curves. That’s what the bureaucrats get paid for.

However, everyone recognizes that they earn next to nothing on their money today, either in the bank or in other interest-rate-based products like bonds and money-market funds.

They also know that “something” is clearly not right. That intuitive “something,” that recognition, is all-telling. The Fed has forced the bond market into unchartered and very unsafe waters.

With Social Security, Medicare and Medicaid all on the chopping block because Washington overspent and mismanaged itself, retirement savings are even more important.

So after manipulating the bond market to bubbly levels that even Dom Perignon would be proud of, we have virtually no economic benefit to show for it.










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Is the electric car dying again?




















A second administration of President Barack Obama will be forced to revisit the issue of subsidies for renewable energy and, with it, those for electric vehicles. Despite the millions of dollars spent on government incentives, marketing and promotion, sales of fully electric cars are well below projected targets. Investment in vehicle charging infrastructure also has fallen victim to budget cutbacks, limited usage and concern over the return on money spent.

Indeed, only last month, a leading automotive battery manufacturer, A123 Systems, was forced to declare bankruptcy. And the founder and CEO of Better Place, Shai Agassi, whose company (in which I was employed) promotes all-electric vehicles with batteries that can be both charged and replaced, was himself replaced due to low sales figures and high capital expenses arising from the deployment of battery-switching stations.

As a result, the question is now being raised: Are we again bearing witness to the death of the electric car?





Any such conclusion over the longer term may be premature. With declining costs and gradually improving technologies that can extend battery range beyond its current limitations, the electric car continues to hold promise. Rising gasoline prices and potential disruptions in oil supply favor alternative sources of energy.

To achieve mass market adoption, however, cars running on electricity — or any other alternative energy source — must satisfy the three “C’s”: cost, convenience and connectivity.

Few buyers are able or willing to pay more for a car running on clean energy unless the upfront cost of the car roughly equals or is below its carbon-powered alternative. Advertised savings over time in powering a car using alternative “fuels” so far have failed to persuade the average driver to buy. And while government subsidies play a role in reducing initial costs to consumers, such incentives so far have not been sufficient to attract large numbers of drivers to switch to electric vehicles.

Cars driven solely or partially by electricity or other alternative energies also must be at least as convenient as those powered exclusively by internal combustion engines. Drivers appear unwilling to sacrifice the expected hundreds of miles in driving range between refuelings. Likewise, drivers demand refueling times equal to what they are accustomed — about five minutes at the gasoline station.

Further, there must be adequate infrastructure in place to enable large numbers of drivers to connect to an alternative energy source before that source can be widely adopted. While a scattering of drivers simultaneously connecting to a power grid may not have much impact, large numbers of drivers doing so can cause major power outages that escalate absent the real-time balancing of energy loads across the network. Moreover, the environmental impact of the connected cycle between car and infrastructure, often referred to as the “well-to-wheel” balance, has to result in less pollution overall for alternative energy vehicles to achieve significant market traction.

Until the fully electric car can satisfy all three C’s, any assessment of projected vehicle sales must reflect a variety of energy sourcing options, both traditional and alternative, all competing for market share.

Gasoline and diesel likely will remain the predominant source of energy in the foreseeable future for new car buyers, with hybrid vehicles that run on both petroleum and alternative energy sources taking an increasingly larger share of the market. Although more costly than pure gasoline-driven cars, hybrids do offer a more environmentally friendly solution and provide the driving range demanded by car buyers.





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