European indecision on Greece weighs on markets

LONDON (AP) ? The continued inability of Europe to agree on Greece's next batch of bailout cash weighed on markets Wednesday, a day when much of Wall Street will be packing up early for the Thanksgiving holiday.

Greece's partners in the group of 17 European Union countries that use the euro once again failed to agree a strategy that would have allowed them to release more money for the debt-crippled country. Though officials say a deal is close ? the finance ministers reconvene on Monday ? a few thorny issues still need to be ironed out.

The two main concerns appear to center on how to plug a Greek budget shortfall over the coming two years that has appeared because of the country's deeper than anticipated recession and how to get Greece's debt burden down to what the International Monetary Fund considers a sustainable rate. The IMF wants Greece's debt burden down to 120 percent of its economy by 2020 and has suggested that countries take a hit on their loans, a seemingly anathema position to mighty Germany.

Greece is waiting for an overdue ?31.5 billion ($40 billion) loan payment that is needed so Athens can pay its bills and avoid running out of cash.

In Europe, the FTSE 100 index of leading British shares was down 0.2 percent at 5,737 while Germany's DAX fell 0.1 percent to 7,166. The CAC-40 in France was 0.2 percent lower at 3,456.

"Maybe it isn't a major surprise that no agreement was reached amongst Greece's creditors yesterday considering that the IMF and the EU seemed to have completely different strategies with regard as to how and when to restore Greeks debt to a sustainable path coming into the meeting," said Gary Jenkins, managing director of Swordfish Research.

"It's not good news but the market has been waiting for a while now for these issues to be resolved so I guess we can all wait until next Monday," he added.

Greek shares underperformed their peers in Europe amid dismay over the talks' failure. The main Athens index was down 0.8 percent with bank stocks feeling the brunt of the selling.

The euro recovered its poise after an initial sell-off when news emerged of the latest failure. It was trading 0.2 percent lower on the day at $1.2784.

Wall Street was poised for a modest retreat at the open too though trading will likely be heavily impacted by the onset of the Thanksgiving rush. Dow futures and the broader S&P 500 futures were down 0.2 percent.

Earlier in Asia, Japan's Nikkei 225 index rose 0.9 percent to close at 9,222.52, with export shares enjoying the benefits of a weakened yen. The dollar was up a further 0.4 percent at 82.17 yen.

Hong Kong's Hang Seng jumped 1.4 percent to 21,524.36. Mainland China's Shanghai Composite Index gained 1.1 percent to 2,030.32 while the smaller Shenzhen Composite Index advanced 1.1 percent to 808.

In the oil markets, the focus was on diplomatic efforts to broker a cease-fire in Gaza intensified. Oil prices regained some of the ground lost the day before, with the benchmark rate up 53 cents at $87.28 a barrel.

Source: http://news.yahoo.com/european-indecision-greece-weighs-markets-104625178--finance.html

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Discover More About Coffee Vending Machines In The Modern Office

Coffee vending services are popular with office workers and visitors. They insert a few coins, and press a button to make their selection and receive their hot drink almost instantly. These types of machines have come a long way from the first model, designed to dispense holy water, by an individual who worked as an engineer and mathematician hundreds of years ago.

Historically, in many workplaces, employees brought in their refreshment supplies and made their own hot drinks or used a flask. That caused employers concerns, because individuals also brought in their second-hand kettles, which usually did not meet with the current safety standards. The alternative was for the company to provide kettles or hot-water urns.

Refreshment breaks in the workplace have always been a source of conflict between employees and management. Employees were often accused of taking extended breaks, or too many breaks. They responded with complaints about the distance they had to go to get a hot drink, or the queue they had to stand in when they got there.

Introducing vending machines in rest areas has proved popular with employees and eliminated the need for kettles in the work area. If the rest and vending area is incorporated into the office area, staff are less likely to take frequent or extended breaks. They can get their hot drink from the office coffee service and return to their desk if that is allowed.

Many large and modern office complexes are designed so their floor plan includes an area for refreshments and vending services. The preferred method for providing office vending services would be on a contract basis. The service supplier maintains, cleans and replenishes stocks and retains ownership of the machines. In many cases, the cost of the machine rental for the employer is minimal.

Many employees take advantage of food and drink machines to save time. They do not want to waste time going outside the office for food and drinks, especially in the bad weather. They can usually take their pick and enjoy a wide variety of hot and cold drinks and food.

Reputable firms that provide kitchen supplies Pittsburgh area and elsewhere around the US, survey their customers and monitor buying habits to determine the types of products that are popular. They also take into account the information supplied by health providers and nutritionists on what makes a healthy snack or dinner. They aim to provide food and coffee vending services to meet customer demands.

Source: http://bestcoffeebeansinformation.blogspot.com/2012/11/discover-more-about-coffee-vending.html

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Source: http://nomermarty.typepad.com/blog/2012/11/discover-more-about-coffee-vending-machines-in-the-modern-office.html

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It's official: Twinkies are?toast, for now

The maker of Twinkies and Wonder Bread will wind down in three months, closing 33 plants and more than 500 bakeries. CNBC's Kayla Tauche reports.

By Ben S. Popken, TODAY contributor

It's official. Twinkies are toast, at least as far as being a Hostess product is concerned.

Hostess Brands Inc on Wednesday won permission from a U.S. bankruptcy judge to begin shutting down, and expressed optimism it will find new homes for many of its iconic brands, which include Twinkies, Drake's cakes and Wonder Bread.

U.S. Bankruptcy Judge Robert Drain in White Plains, N.Y., authorized current management, led by restructuring specialist Gregory Rayburn, to immediately begin efforts to wind down the 82-year-old company, a process expected to take one year.

"It appears clear to me that the debtors have taken the right course in seeking to implement the wind-down plan as promptly as possible," Drain said near the end of a four-hour hearing.

The judge authorized Hostess to begin the liquidation process one day after his last-ditch mediation effort between the Irving, Texas-based company and its striking bakers' union broke down.

Hostess CEO Gregory Rayburn testified at a bankruptcy hearing Wednesday that he will have to terminate 15,000 employees immediately. Most of the remaining 3,200 workers are expected to be let go within four months.?

"This is a tragedy, and we're well aware of it," Heather Lennox, a lawyer for Hostess, told the judge. "We are trying to be as sensitive as we can possibly be under the circumstances to the human cost of this."?

The union, the Bakery, Confectionery, Tobacco and Grain Millers Union, has complained it should not be forced into new wage and benefit cuts, on top of earlier give-backs, while top executives rewarded themselves with higher pay, and that it was "well aware" of the potential consequences of that stance.

The union said in a court filing that its sole objective was to leave Hostess with "a real, rather than an illusory or theoretical, likelihood of establishing a stable business with secure jobs."

Union president Frank Hurt was not immediately available for comment.?

"This is truly a sad day for thousands of families affected by the closing of this company," said Teamsters General Secretary-Treasurer Ken Hall in a statement. "I want to assure our members that despite this outcome, they do not stand alone and their union will continue to work on their behalf to help them find new employment."

About 6,700 Hostess workers are members of Teamsters.

Related story: Twinkies are king of the Nile, despite US woes

After the company's announcement last week that it would need to liquidate after claiming that a strike by workers crippled its business, consumers cleared store shelves of Hostess products, especially Twinkies, out of fear they would never taste the spongy, yellow cakes again.

There could be a silver lining in this Twinkie tale. Hostess bankers testified to a "flood" of inquiries into buying Hostess brand names from other food makers, from stores and supermarkets, including Wal-Mart, and from investment interests.

According to testimony by a Hostess Brands adviser,?many of the interested buyers have asked if they could keep some of the workers employed?in the factories.

Speaking to reporters outside the courthouse, Rayburn said he was disappointed that the mediation failed and that he plans to move "extremely fast" to sell Hostess' assets. Asked which bidders may fare best, he said: "The one that pays the most."

Information from the Associated Press and Reuters was included in this report.

Hostess may be going out of business, but no need to despair. Giada De Laurentiis chats with the TODAY anchors about the topics making headlines today and demonstrates how you can make a homemade version of the beloved cr?me-filled treat.

Source: http://lifeinc.today.com/_news/2012/11/21/15337294-hostess-terminating-15000-employees-after-mediation-fails?lite

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vincentsmit0: Health-and-Fitness:Diseases-STDs Articles from ...

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Source: http://northropsebastian9.typepad.com/blog/2012/11/vincentsmit0-health-and-fitnessdiseases-stds-articles-from-1.html

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News Corp. to acquire stake in Yank' YES Network

NEW YORK (AP) ? News Corp. is acquiring a 49 percent stake in the YES Network, a deal that gives the New York Yankees' owners hundreds of millions of dollars and values the channel at $3 billion.

Yankee Global Enterprises, Goldman Sachs and other investors will reduce their ownership as part of the transaction, and the team will receive $500 million.

"The Steinbrenner family expects to have a continuing, long-term ownership stake in the YES Network and we will continue our yearly commitment of fielding a championship caliber team for decades to come," Yankees managing partner Hal Steinbrenner said in a statement.

The agreement raises the value of the YES Network to $3.8 billion in three years, when News Corp. must decide whether to take control. The Yankees also committed to stay on YES Network through 2042, subject to approval of the rights deal from Major League Baseball. The Yankees' existing agreement with YES runs through 2021 and the network has three five-year options.

News Corp., which owns Fox, may acquire an additional stake in the YES Network after three years that could bring its ownership to 80 percent. Yankee Global Enterprises, the team's parent company, would retain a significant minority stake.

Fox will make a $500 million payment to the Yankees for extending their broadcast rights, of which $300 million will be paid when the deal with News Corp. closes and $200 million in about three years, a person familiar with the situation told The Associated Press, speaking on condition of anonymity because some details of the pact had not been made public. The team's stake in the network will decline from 34 percent to 25 percent.

YES's fee to the Yankees, which was $85 million this year, was due to compound at 4 percent annually under the options in the old contract. Under the new deal, the rate will increase gradually to 7 percent in the final years of the rights agreement, and YES's annual payment to the team will rise to about $300 million by 2042.

"We've long been a believer in the unique appeal of sports entertainment," News Corp. deputy chief operating officer James Murdoch said in a statement.

"This is a tremendous opportunity to enhance News Corporation's industry-leading portfolio of sports properties, while also strategically re-entering the New York market," he added.

YES currently is owned by the Yankees, Goldman Sachs, Providence Equity and NJ Holdings, the company controlled by former Nets owners Louis Katz and Ray Chambers. By closing the deal this year, they would avoid any possible increase in capital gains taxes in 2013.

Rupert Murdoch's News Corp. is emerging from the phone hacking scandal in Britain. The company is in the midst of a plan to split into two parts ? one housing its newspapers, Australian operations and for-profit education business, and the other its more profitable TV and movie businesses.

Fox Sports Media Group already owns 20 U.S. regional sports networks. With Fox's investment in the Big Ten Network and Rutgers' plans to join the conference, this deal could help get the college sports channel into more homes in the New York area.

YES Network, which also broadcasts Brooklyn Nets games, launched in 2002. YES Network is one of the most valuable regional sports networks in the country, earning a nation-leading $2.99 in subscriber fees each month from its 11.8 million subscribers, according to SNL Kagan.

It is expected to have $500 million in revenue this year and around $232 million in cash, for a cash flow margin of 46 percent. That sets it apart from other regional sports networks that generate margins around 20 to 30 percent.

"They're a pretty strong network, definitely in the higher tier of networks when it comes to cash flow margin," SNL analyst Adam Swanson said.

___

AP Sports Writer Rachel Cohen and AP Business Writer Ryan Nakashima contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-11-20-News%20Corp-Yes%20Network/id-00f7dd208cbc42ccad7b72e775f0e0e9

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Reseller Internet Hosting | Healthuse - Health & Fitness Tips

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Source: http://www.healthuse.com/reseller-internet-hosting-8.html

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The Eye: Teira Has Her iPad And Her Voice Back ? November 17, 2012

Teira Manfredda with her brand new iPad. Photo by Colleen Leydecker

Kevin L. Hoover

Eye Editor

ARCATA ? Heartbreak turned to happiness in Arcata Saturday as Teira Manfredda got her voice back.

Teira?s backpack was stolen from her mother?s car outside Eureka?s Grocery Outlet Tuesday evening, Nov. 13, and with it went her iPad. In this case, the loss was more than just a missing techno-toy ? Teira, 11, used it to communicate.

She was born with a chromosomal disorder known as Phelan-McDermid Syndrome, which can lead to a number of symptoms, including problems with verbal communication.

Use of the iPad and an application called Scene&Heard had more than doubled Teira?s 150-word vocabulary and given her a new measure of independence. ?She had about 150 words when we started,? said her mother, Colleen Leydecker, a McKinleyville resident who also leads Teira?s Girl Scout troop. ?Now she has about 350 words and phrases. It?s been incredible.?

Colleen and Tom Leydecker, Teira Manfredda, Simeon Tauber and Mitch Willams (kneeling). KLH | Eye

Making the situation even sadder was that Teira had earned the iPad by selling 3,000 boxes of Girl Scout cookies. At a loss, her mother saw no choice but to get started selling another 3,000 boxes of cookies. ?We were talking about it and gearing up for it,? Colleen said.

Saturday morning, though, things took a turn for the better when, while shopping in Valley West, Colleen?s cell phone rang. It was Simply Macintosh co-owner Simeon Tauber, and he had good news: a donor had walked in to the downtown Arcata Apple outlet wishing to replace Teira?s iPad.

The donor was Mitch Williams, who had learned of the theft in the Times-Standard. ?It was simple,? Williams said. ?She?s done good work.?

?We had the thought to do this and weren?t sure how? to implement it,? Tauber said. ?It was Mitch walking in the door that made it happen.?

Simply Mac sold Williams the iPad ? the very latest model, with the Retina display ? at his wholesale cost. But that wasn?t enough of a price break, so Tauber kicked in $100 of his own. ?We wanted to do our part, and cost didn?t seem sufficient,? Tauber said.

Mitch Williams and Teira. KLH | Eye

Saturday afternoon, the Leydecker family met up with their benefactors at Simply Mac. There, Teira was given her replacement iPad and with it, her ability to communicate. She beamed with joy as she clutched closely the box with her new iPad inside.

?It will give her her voice back,? Colleen said.

Williams and Simply Mac weren?t the only well-wishers. Leydecker had been flooded with calls ever since the T-S story came out. ?The response has been overwhelming,? Colleen said. ?We?ve been fielding phone calls all day from people wanting to help out. I haven?t been able to call them all back.?

?We can?t thank the community enough for their support and generosity,? she continued. ?The people of Humboldt County are just amazing.?

Tags: Simply Mac

This entry was posted on Saturday, November 17th, 2012 at 3:23 pm and is filed under Community, News. You can follow any responses to this entry through the RSS 2.0 feed.

Source: http://www.arcataeye.com/2012/11/teira-has-her-ipad-and-her-voice-back-november-17-2012/?utm_source=rss&utm_medium=rss&utm_campaign=teira-has-her-ipad-and-her-voice-back-november-17-2012

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