BlackBerry 10 Event Location Announced: Taking On Apple in the Big Apple











RIM announced the location and time of their Jan. 30 BlackBerry 10 event. For the struggling Canadian company, it’s basically now or never.


The long-awaited event will start at 8:30 a.m. EST (that’s 5:30 a.m. PST, ouch!) in New York. If you’re a die-hard BlackBerry fan, getting up before dawn to see the latest and greatest might not seem like that big of a deal, but RIM needs to court those outside its loyal following. Having an event that early, while good for Europe, Africa and the East Coast is a tough sell to anyone west of Ohio.


Timing aside, if this event and the products announced there don’t resonate with customers, both casual and business, this could be the final nail in RIM’s coffin even if the world does tune in on the 30th.


The company that put e-mail in the pockets of consumers began losing market share after the introduction of the iPhone and Android operating system. The company’s former co-CEOs Mike Lazaridis and Jim Balsillie were replaced by current CEO Thorsten Heins in January 2012. Heins went on to replace the the entire leadership team in order to refocus and streamline the company.


The upcoming operating system and accompanying devices had originally been scheduled to launch in the fourth quarter of 2013, but were pushed to the first quarter of 2013. If RIM can pull this off, it’ll be one of the great comebacks in technology. If not, the company could end up sharing the same page in the history books as Palm.




Roberto is a Wired Staff Writer for Gadget Lab covering augmented reality, home technology, and all the gadgets that fit in your backpack. Got a tip? Send him an email at: roberto_baldwin [at] wired.com.

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Beck looks for new connection with ‘Song Reader’






NASHVILLE, Tenn. (AP) — Beck Hansen wants you to think about the way music has changed over the last century and what that means about how human beings engage each other these days.


Laboring over the intricate and ornate details of his new “Song Reader” sheet music project, he was struck by how social music used to be — something we’ve lost in the age of ear buds.






“You watch an old film and see how people would dance together in the ’20s, ’30s and ’40s. You’d go out and people would switch partners and it was a way of social interaction,” Hansen said. “It’s something that was part of what brought people together. Playing music in the home is another aspect of that that’s been lost. Again, I’m not on a campaign to get people to take up songs and play music in their home or anything. But it is interesting to me, the loss of that, what it means.”


Beck hopes the “Song Reader” inspires some of us to pick up instruments and limber our vocal cords. It includes 20 songs annotated on sheet music that’s been decorated in the style popular in the early 20th century when the songwriting industry was a thriving enterprise with billions of songs sold.


The 42-year-old singer notes in the book’s preface that Bing Crosby’s “Sweet Leilani” sold an estimated 54 million copies in 1937, meaning about 40 percent or more of the U.S. population was engaged in learning how to play that song. They were touching it directly, speeding it up, slowing it down, changing the lyrics and creating something new.


“There’s popular bands now that people know the words to their songs and can sing along, but there’s something about playing a song for yourself or for your friends and family that allows you to inhabit the song and by some sort of osmosis it becomes part of who you are in a way,” he said. “So when I think of my great-grandparents’ generations, music defined their lives in a different way than it does now.”


Beck proposed the idea to McSweeney’s Dave Eggers in 2004 and it soon blossomed into something more ambitious as the artist wrapped his mind around the challenge of not just writing a song, but presenting it in a classic way that also engages fans who might not be able to read music or play their own instruments.


They quickly agreed it would make no money, but it seemed like an idea worth exploring.


“And it seemed like only Beck would have thought of it,” Eggers said in an email to the Associated Press. “It’s a very generous project, in that he wrote a bunch of songs and just gives them to the world to interpret. That’s a very expansive kind of generosity and inclusiveness that we’re happy to be part of. On a formal level, we love projects like this, that are unprecedented, and that result in a beautiful object full of great art and great writing. And it all started with Beck. It’s a testament to his groundbreaking approach to everything he does.”


Beck hopes fans will record their own versions and upload them to the Internet so those songs grow into something more universal.


As for his own recorded music, that’s a little more complicated.


Beck’s not sure where he’s headed at the moment. He recorded an album in 2008, but set it aside to work with Charlotte Gainsbourg on “IRM,” which he wrote and produced. He’s also been writing songs for soundtracks and special projects and producing artists like Thurston Moore, Stephen Malkmus and Dwight Yoakam. All that has left him feeling creatively satisfied, but he does acknowledge it’s been a while since he released 2008′s Danger Mouse-produced “Modern Guilt.”


He says in many ways he’s reached a crossroads he’s not yet sure how to navigate.


“This last year I’ve been thinking about whether I’d finish those songs (from 2008), whether they’re relevant or worthy of releasing. I know that doesn’t sound very definitive,” he said, laughing, “but that’s the kind of place I’m in — in this kind of limbo — and, um, yeah.”


The “Song Reader” spurred Beck to think about his own work in a new light as well. Spending six months finishing off the project after working on it sporadically over the years, he was struck by how much craft went into the creation of each song and how quickly music can come into existence today.


“There is so much music out there, to me,” he said. “I don’t know if it’s just where I am in my own music making or if it’s a product of the amount of music out there, but I feel like a piece of music does have to have a certain validity to be put out there and to ask people to listen. … I feel like it’s impossible for everyone to keep up, you know, so I guess I’ve been feeling like maybe there’s something to picking what you’re going to put out, about being more particular about what you put out.”


___


Online:


http://beck.com


___


Follow AP Music Writer Chris Talbott: http://twitter.com/Chris_Talbott.


Entertainment News Headlines – Yahoo! News





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John Rosen, Doctor Who Pushed to Prevent Lead Poisoning, Dies at 77





Dr. John F. Rosen, a pediatrician whose discovery of high levels of lead poisoning among the New York City children he treated propelled him to campaign for a national effort to prevent the condition, died on Dec. 7 in Greenwich, Conn. He was 77.




The cause was colon cancer, his wife, Margaret, said.


When he arrived at Montefiore Medical Center in the Bronx in 1969, Dr. Rosen was mainly interested in how children’s bodies absorb calcium. But within a few years, concerned about the levels of lead he was seeing in his young patients and knowing that lead poisoning diminished mental capacities irreversibly, he embarked on a mission. Dr. Rosen helped establish one of the nation’s first and largest clinics for the treatment of lead poisoning; he personally supervised the treatment of 30,000 children. In one advance, he developed X-ray techniques for measuring lead in children’s bodies.


He went on to push New York City to adopt stricter standards for removing lead paint from tens of thousands of older buildings. (The use of lead paint had been outlawed in 1978.) In 1991 he led a committee at the Centers for Disease Control and Prevention in Atlanta that lowered the threshold at which children are considered to be poisoned by lead, to 10 micrograms per deciliter of blood from 60 micrograms.


But even that threshold was too high, Dr. Rosen believed, and he immediately began lobbying to reduce it further. This year, the C.D.C. halved it to 5 micrograms. The change could not help those who had lead in their bodies, but it sounded an alarm that even infinitesimal quantities of lead could be dangerous.


“It’s about time,” Dr. Rosen said.


He cited his own and others’ studies showing that lead poisoning harms a person’s ability to think and plan, as well as physical coordination. For a child with an I.Q. of 85, he said, lead exposure “could mean the difference between a menial job in a fast-food restaurant or a meaningful career.”


Dr. Rosen’s ambition was to eventually eradicate lead poisoning by eliminating exposure to lead altogether, in the manner that vaccines reduced the incidence of polio to almost none. He served on committees of the National Academy of Sciences and urged spending tens of billions of dollars to remove old lead paint from tens of millions of homes, calculating that lead exposure harmed far more children than asbestos.


Landlords and some government officials disputed the need for such a large-scale effort, arguing that lead poisoning had dropped sharply in recent decades as lead was removed from gasoline and that the use of lead paint had abated.


Dr. Rosen often testified in suits against property owners, leading some to suggest that his crusade was motivated by the prospect of personal financial gain from payments by plaintiffs’ lawyers.


He also had critics in the news media. In 2003 Andrew Wolf, then a columnist for The New York Sun, argued that the war against lead poisoning had been won and accused Dr. Rosen of practicing political, not medical, science. In 1992, Newsday questioned whether he was a “well-meaning prophet or merely an alarmist.”


Dr. Rosen replied: “I am not an alarmist. I cannot keep quiet when kids’ futures are at stake.”


John Friesner Rosen was born in Manhattan on June 3, 1935. His parents volunteered for civil rights and leftist causes and traveled to China to meet with Chou En-lai before President Richard M. Nixon’s historic trip there in 1972.


Dr. Rosen graduated from Harvard and the College of Physicians and Surgeons of Columbia University, did his residency at the Columbia-affiliated Babies Hospital and became a researcher at Rockefeller University. He moved on to Montefiore, where he became a pediatrics professor and head of environmental sciences at its Children’s Hospital. His focus was underprivileged children living in substandard housing.


In one instance, he encountered two young sisters who had made repeated visits to the hospital with very high levels of lead in their blood. He decided to accompany them home, but the home, he discovered, had been inspected and the paint found safe. He then accompanied them to a park, where they climbed up and down a fence. It was covered with lead paint.


Dr. Rosen started his lead clinic in the early 1970s. He later opened “safe houses,” where families could come while lead paint was removed from their homes. When lead paint was discovered in a Manhattan elementary school in 1992, he spoke out, calling the school “a toxic dump.” It was closed for a cleanup.


Dr. Rosen lived in Stamford, Conn. His first marriage, to Katharine Lardner, ended in divorce. He is survived by his wife, the former Margaret Hiatt; two children from his first marriage, Carlo, a physician, and Ellis Lesser; a daughter from his second marriage, Emily Reilly; and nine grandchildren.


Dr. Rosen’s concerns about lead poisoning went beyond residents of low-income housing. In 1988, he warned against eating Florida grapefruits because they had been sprayed with lead arsenate to speed ripening. Two years later, he reported seeing 30 or 40 cases of lead poisoning each year among children of wealthy people who had bought and restored brownstones.


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DealBook: Sprint Reaches Deal to Buy Out Clearwire

Sprint announced on Monday that it had reached an agreement to buy the nearly 50 percent stake in Clearwire that it did not already own for $2.97 a share — a bump up from the $2.90 a share that was offered on Thursday.

The improved $2.2 billion offer, Sprint said, represents a premium of 128 percent over Clearwire’s stock price in early October before speculation emerged — following SoftBank‘s investment in Sprint — that Sprint would seek to buy out the wireless network operator.

Sprint already owns 51.7 percent of Clearwire. Buying the rest would give it full control over spectrum that it could use to build out its network.

Sprint is able to complete the deal thanks to cash from SoftBank of Japan, which agreed in October to a $20.1 billion transaction to gain majority control of the American telecommunications company, which lags far behind the market leaders, AT&T and Verizon Wireless.

The deal would allow Sprint to expand its Long-Term Evolution network, which is based upon the same data standard used by the newest generation of smartphones. Clearwire owns spectrum that is similar to what SoftBank uses in Japan, potentially giving the newly strengthened Sprint more clout in ordering the latest devices.

The chief executive of Sprint, Dan Hesse, said in a statement: “Today’s transaction marks yet another significant step in Sprint’s improved competitive position and ability to offer customers better products, more choices and better services. Sprint is uniquely positioned to maximize the value of Clearwire’s spectrum and efficiently deploy it to increase Sprint’s network capacity.”

SoftBank added in a statement that it supports the deal, which it believes will improve the landscape for American cellphone service.

Clearwire’s board approved the offer based on the recommendation of a special committee of directors not appointed by Sprint. Clearwire also has commitments from Comcast, Intel and Bright House Networks, which collectively own 13 percent of the voting shares, to support the deal.

Some of Clearwire’s minority shareholders believed that the company should hold out for a higher price, with one analyst calling for at least $5 a share. One of these investors, Crest Financial, said that it would try to block Sprint’s deal with Softbank if the earlier offer of $2.90 a share went through.

And another, Mount Kellett, had argued that based on what AT&T paid for roughly similar spectrum, Sprint should be paying at least four times as much.

But Sprint argued privately that its previous bid valued the network operator’s spectrum at about the same level that Verizon paid for spectrum that it acquired from cable companies, according to a person briefed on the matter. And Clearwire’s spectrum, Sprint claimed, is of lower quality and therefore less valuable, meaning that the company was effectively paying more than Verizon did.

Clearwire has struggled to to join the ranks of the biggest American cellphone service providers, despite bringing on big-name investors. Some of its previous stakeholders, including Google and Time Warner Cable, chose to sell off their holdings for a fraction of their purchase prices.

Agreeing to the deal announced Monday will help shore up Clearwire’s finances, at a time when it projected having enough cash to last a year or so and still faces significant debt obligations. Sprint has pledged to provide up to $800 million in interim financing to the network operator.

Citigroup and the law firms of Skadden, Arps, Slate, Meagher & Flom and King & Spalding advised Sprint. The Raine Group acted as financial adviser to SoftBank and Morrison Foerster acted as counsel to SoftBank.

Evercore Partners and the law firm Kirkland & Ellis advised Clearwire. Centerview Partners acted as financial adviser and Simpson Thacher & Bartlett and Richards, Layton & Finger acted as counsel to Clearwire’s special committee. Blackstone Advisory Partners advised Clearwire on restructuring matters. Credit Suisse acted as financial adviser and Gibson Dunn & Crutcher acted as counsel to Intel.

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Speculation over autism, but shooter's 'why' has no easy answer









Among the details to emerge in the aftermath of the Connecticut elementary school massacre was the possibility that the gunman had some form of autism.


Adam Lanza, 20, had a personality disorder or autism, his brother reportedly told police. Former classmates described him as socially awkward, friendless and painfully shy.


While those are all traits of autism, a propensity for premeditated violence is not. Several experts said that at most, autism would have played a tangential role in the mass shooting -- if Lanza had it at all.





FULL COVERAGE: Connecticut school shooting


“Many significant psychiatric disorders involve social isolation,” said Catherine Lord, director of the Center for Autism and the Developing Brain at New York-Presbyterian Hospital.


Autism, she said, has become a catch-all term to describe anybody who is awkward.


Some type of schizophrenia, delusional disorder or psychotic break would more clearly fit the crime, experts said.


The hallmark characteristics of autism are social inability, communication problems and repetitive behaviors or obsessive interests. It emerges in early childhood and exists on a vast spectrum, from those who bang their head against the wall to those who can recite train schedules from memory.


PHOTOS: Connecticut school shooting


The rate of autism has skyrocketed over the last two decades, largely because of an expanded definition of the disorder and increasing awareness. The U.S. Centers for Disease Control and Prevention estimates that 1 in 88 children have it.


Researchers have struggled to draw clear lines between the various forms. As a result, the American Psychiatric Assn. is folding all of its varieties into a single diagnosis next year: autism spectrum disorder.


It will include people with Asperger’s syndrome -- the higher-functioning type that Lanza was most likely to have had.


There is more aggression associated with autism than with other disabilities. But it usually amounts to a tantrum and does not involve planning, weapons or an intention to harm anybody.


People with autism are more likely to be victims of violence than perpetrators. Those who are bright -- as Lanza was by several accounts -- often face bullying.


Some wind up in trouble with the law because they are unaware of social convention, and quirkiness or attempts at being friendly get misinterpreted.


Dr. John Constantino, an autism specialist at Washington University in St. Louis, said the social detachment and withdrawal associated with the disorder can accentuate other psychiatric conditions that are connected to violence.


And the feelings of isolation often intensify after high school, with the loss of a structured environment that allows many people with autism to stay afloat.


“They sort of fall off this cliff when they don’t have a village,” Constantino said.


Lanza finished high school early and was living with his mother. Police said he was disturbed by the divorce of his parents in 2009.


None of that, of course, explains why his killed his mother, 20 elementary school students, six women at the school and then himself.


“The only way somebody could do something like this is if they totally lost touch with reality,” said Dr. Daniel Geschwind, an autism expert at UCLA. “Autistic people are not sociopaths.”


ALSO:


Suspect in massacre tried to buy rifle days before, sources say


In Newtown, death's chill haunts the morning after school shooting


Connecticut shooting: Gunman forced his way into school, police say


alan.zarembo@latimes.com



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Wired Science Space Photo of the Day: Painted Swan Nebula











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Sundance film “End of Love” finds distributor






LOS ANGELES (TheWrap.com) – Gravitas Ventures and Variance Films have acquired all North American rights to writer-director Mark Webber‘s drama “The End of Love,” the companies announced on Thursday.


The father-son drama, which debuted at this year’s Sundance Film Festival, stars Webber alongside Shannyn Sossamon (pictured), and Webber’s real-life son Isaac Love, and features appearances by Michael Cera, Jason Ritter, and Amanda Seyfried.






The film tells the story of struggling actor Mark (Webber), who is forced to grapple with his inability to grow up when the mother of his two-year-old son Isaac suddenly dies. As he kindles a relationship with a young single mother, Mark begins to realize that he can no longer remain in denial about the real-life consequences his choices have on Isaac.


Gravitas Ventures will debut the film across all major video on demand (VOD) platforms on January 21, 2013 with a theatrical release from Variance Films beginning March 1 2013 in select markets.


“Propelled by the authenticity and intimacy of the performances, our acquisition team was unanimous that ‘The End of Love’ was one of the strongest films not only of Sundance, but of all of the films we saw last year,” said Nolan Gallagher, founder and CEO of Gravitas Ventures.


“I’m thrilled that ‘The End of Love’ has found a home with Gravitas and Variance,” said Webber. “In the rapidly changing landscape of how films are seen, these two companies are at the forefront of embracing that change.”


Movies News Headlines – Yahoo! News


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Dr. William F. House, Inventor of Cochlear Implant, Dies





Dr. William F. House, a medical researcher who braved skepticism to invent the cochlear implant, an electronic device considered to be the first to restore a human sense, died on Dec. 7 at his home in Aurora, Ore. He was 89.




The cause was metastatic melanoma, his daughter, Karen House, said.


Dr. House pushed against conventional thinking throughout his career. Over the objections of some, he introduced the surgical microscope to ear surgery. Tackling a form of vertigo that doctors had believed was psychosomatic, he developed a surgical procedure that enabled the first American in space to travel to the moon. Peering at the bones of the inner ear, he found enrapturing beauty.


Even after his ear-implant device had largely been supplanted by more sophisticated, and more expensive, devices, Dr. House remained convinced of his own version’s utility and advocated that it be used to help the world’s poor.


Today, more than 200,000 people in the world have inner-ear implants, a third of them in the United States. A majority of young deaf children receive them, and most people with the implants learn to understand speech with no visual help.


Hearing aids amplify sound to help the hearing-impaired. But many deaf people cannot hear at all because sound cannot be transmitted to their brains, however much it is amplified. This is because the delicate hair cells that line the cochlea, the liquid-filled spiral cavity of the inner ear, are damaged. When healthy, these hairs — more than 15,000 altogether — translate mechanical vibrations produced by sound into electrical signals and deliver them to the auditory nerve.


Dr. House’s cochlear implant electronically translated sound into mechanical vibrations. His initial device, implanted in 1961, was eventually rejected by the body. But after refining its materials, he created a long-lasting version and implanted it in 1969.


More than a decade would pass before the Food and Drug Administration approved the cochlear implant, but when it did, in 1984, Mark Novitch, the agency’s deputy commissioner, said, “For the first time a device can, to a degree, replace an organ of the human senses.”


One of Dr. House’s early implant patients, from an experimental trial, wrote to him in 1981 saying, “I no longer live in a world of soundless movement and voiceless faces.”


But for 27 years, Dr. House had faced stern opposition while he was developing the device. Doctors and scientists said it would not work, or not work very well, calling it a cruel hoax on people desperate to hear. Some said he was motivated by the prospect of financial gain. Some criticized him for experimenting on human subjects. Some advocates for the deaf said the device deprived its users of the dignity of their deafness without fully integrating them into the hearing world.


Even when the American Academy of Ophthalmology and Otolaryngology endorsed implants in 1977, it specifically denounced Dr. House’s version. It recommended more complicated versions, which were then under development and later became the standard.


But his work is broadly viewed as having sped the development of implants and enlarged understanding of the inner ear. Jack Urban, an aerospace engineer, helped develop the surgical microscope as well as mechanical and electronic aspects of the House implant.


Karl White, founding director of the National Center for Hearing Assessment and Management, said in an interview that it would have taken a decade longer to invent the cochlear implant without Dr. House’s contributions. He called him “a giant in the field.”


After embracing the use of the microscope in ear surgery, Dr. House developed procedures — radical for their time — for removing tumors from the back portion of the brain without causing facial paralysis; they cut the death rate from the surgery to less than 1 percent from 40 percent.


He also developed the first surgical treatment for Meniere’s disease, which involves debilitating vertigo and had been viewed as a psychosomatic condition. His procedure cured the astronaut Alan B. Shepard Jr. of the disease, clearing him to command the Apollo 14 mission to the moon in 1971. In 1961, Shepard had become the first American launched into space.


In presenting Dr. House with an award in 1995, the American Academy of Otolaryngology-Head and Neck Surgery Foundation said, “He has developed more new concepts in otology than almost any other single person in history.”


William Fouts House was born in Kansas City, Mo., on Dec. 1, 1923. When he was 3 his family moved to Whittier, Calif., where he grew up on a ranch. He did pre-dental studies at Whittier College and the University of Southern California, and earned a doctorate in dentistry at the University of California, Berkeley. After serving his required two years in the Navy — and filling the requisite 300 cavities a month — he went back to U.S.C. to pursue an interest in oral surgery. He earned his medical degree in 1953. After a residency at Los Angeles County Hospital, he joined the Los Angeles Foundation of Otology, a nonprofit research institution founded by his brother, Howard. Today it is called the House Research Institute.


Many at the time thought ear surgery was a declining field because of the effectiveness of antibiotics in dealing with ear maladies. But Dr. House saw antibiotics as enabling more sophisticated surgery by diminishing the threat of infection.


When his brother returned from West Germany with a surgical microscope, Dr. House saw its potential and adopted it for ear surgery; he is credited with introducing the device to the field. But again there was resistance. As Dr. House wrote in his memoir, “The Struggles of a Medical Innovator: Cochlear Implants and Other Ear Surgeries” (2011), some eye doctors initially criticized his use of a microscope in surgery as reckless and unnecessary for a surgeon with good eyesight.


Dr. House also used the microscope as a research tool. One night a week he would take one to a morgue for use in dissecting ears to gain insights that might lead to new surgical procedures. His initial reaction, he said, was how beautiful the bones seemed; he compared the experience to one’s first view of the Grand Canyon. His wife, the former June Stendhal, a nurse, often helped.


She died in 2008 after 64 years of marriage. In addition to his daughter, Dr. House is survived by a son, David; three grandchildren; and two great-grandchildren.


The implant Dr. House invented used a single channel to deliver information to the hearing system, as opposed to the multiple channels of competing models. The 3M Company, the original licensee of the House implant, sold its rights to another company, the Cochlear Corporation, in 1989. Cochlear later abandoned his design in favor of the multichannel version.


But Dr. House continued to fight for his single-electrode approach, saying it was far cheaper, and offered voluminous material as evidence of its efficacy. He had hoped to resume production of it and make it available to the poor around the world.


Neither the institute nor Dr. House made any money on the implant. He never sought a patent on any of his inventions, he said, because he did not want to restrict other researchers. A nephew, Dr. John House, the current president of the House institute, said his uncle had made the deal to license it to the 3M Company not for profit but simply to get it built by a reputable manufacturer.


Reflecting on his business decisions in his memoir, Dr. House acknowledged, “I might be a little richer today.”


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As Gold Is Spirited Out of Afghanistan, Officials Wonder Why


Zalmai for The New York Times


A Kabul jewelry shop. Officials are concerned about gold being flown out of Afghanistan.







KABUL, Afghanistan — Packed into hand luggage and tucked into jacket pockets, roughly hewed bars of gold are being flown out of Kabul with increasing regularity, confounding Afghan and American officials who fear money launderers have found a new way to spirit funds from the country.




Most of the gold is being carried on commercial flights destined for Dubai, according to airport security reports and officials. The amounts carried by single couriers are often heavy enough that passengers flying from Kabul to the Persian Gulf emirate would be well advised to heed warnings about the danger of bags falling from overhead compartments. One courier, for instance, carried nearly 60 pounds of gold bars, each about the size of an iPhone, aboard an early morning flight in mid-October, according to an airport security report. The load was worth more than $1.5 million.


The gold is fully declared and legal to fly. Some, if not most, is legitimately being sent by gold dealers seeking to have old and damaged jewelry refashioned into new pieces by skilled craftsmen in the Persian Gulf, said Afghan officials and gold dealers.


But gold dealers in Kabul and current and former Kabul airport officials say there has been a surge in shipments since early summer. The talk of a growing exodus of gold from Afghanistan has been spreading among the business community here, and in recent weeks has caught the attention of Afghan and American officials. The officials are now puzzling over the origin of the gold — very little is mined in Afghanistan, although larger mines are planned — and why so much appears to be heading for Dubai.


“We are investigating it, and if we find this is a way of laundering money, we will intervene,” said Noorullah Delawari, the governor of Afghanistan’s central bank. Yet he acknowledged that there were more questions than answers at this point. “I don’t know where so much gold would come from, unless you can tell me something about it,” he said in an interview. Or, as a European official who tracks the Afghan economy put it, “new mysteries abound” as the war appears to be drawing to a close.


Figuring out what precisely is happening in the Afghan economy remains as confounding as ever. Nearly 90 percent of the financial activity takes place outside formal banks. Written contracts are the exception, receipts are rare and statistics are often unreliable. Money laundering is commonplace, say Western and Afghan officials.


As a result, with the gold, “right now you’re stuck in that situation we usually are: is there something bad going on here or is this just the Afghan way of commerce?” said a senior American official who tracks illicit financial networks.


There is reason to be suspicious: the gold shipments track with the far larger problem of cash smuggling. For years, flights have left Kabul almost every day carrying thick wads of bank notes — dollars, euros, Norwegian kroner, Saudi Arabian riyals and other currencies — stuffed into suitcases, packed into boxes and shrink-wrapped onto pallets. At one point, cash was even being hidden in food trays aboard now-defunct Pamir Airways flights to Dubai.


Last year alone, Afghanistan’s central bank says, roughly $4.5 billion in cash was spirited out through the airport. Efforts to stanch the flow have had limited impact, and concerns about money laundering persist, according to a report released last week by the United States Special Inspector General for Afghanistan Reconstruction.


The unimpeded “bulk cash flows raise the risk of money laundering and bulk cash smuggling — tools often used to finance terrorist, narcotics and other illicit operations,” the report said. The cash, and now the gold, is most often taken to Dubai, where officials are known for asking few questions. Many wealthy Afghans park their money and families in the emirate, and gold dealers say more middle-class Afghans are sending money and gold — seen as a safeguard against economic ruin — to Dubai as talk of a postwar economic collapse grows louder.


But given Dubai’s reputation as a haven for laundered money, an Afghan official said that the “obvious suspicion” is that at least some of the apparent growth in gold shipments to Dubai is tied to the myriad illicit activities — opium smuggling, corruption, Taliban taxation schemes — that have come to define Afghanistan’s economy.


There are also indications that Iran could be dipping into the Afghan gold trade. It is already buying up dollars and euros here to circumvent American and European sanctions, and it may be using gold for the same purpose.


Yahya, a dealer in Kabul, said other gold traders were helping Iran buy the precious metal here. Payment was being made in oil or with Iranian rials, which readily circulate in western Afghanistan. The Afghan dealers are then taking it to Dubai, where the gold is sold for dollars. The money is then moved to China, where it was used to buy needed goods or simply funneled back to Iran, said Yahya, who like many Afghans uses a single name.


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Apple takes investors on a wild ride









SAN FRANCISCO — With only modest expectations, Robert Leitao of Santa Clarita made a decision in 1994 that would change his life. He bought Apple stock.


This was several years before Steve Jobs returned to resurrect Apple, long before the iPod, the iPhone or the iPads that would make Apple the most valuable company in the world. A $1 investment in Apple at the start of 1994 is now worth about $70.


"Even with the recent sell-off, I'm still doing very well with the stock," said Leitao, who works as director of operations at a Catholic church in Burbank. "Apple provided for a down payment on our home for our blended family of four kids."





Leitao is one of the countless people whose lives have been touched by Apple's stock, which has become a global economic force. It is now one of the most widely held stocks, and the most valuable. Even as Apple Inc.'s market value fell to $480 billion on Friday, it was still larger than the gross domestic product of Norway or Argentina, and more than the combined value of Google Inc. and Microsoft Corp.


Yet that astonishing size and economic influence is also what, many analysts believe, contributes to the extraordinary volatility that can make owning Apple's stock a hair-raising experience.


It was inevitable, analysts say, that after Apple's stock rose 74% in the first nine months of this year, a huge wave of selling would occur as fund managers locked in their profits. And yet, in recent years, these huge dips have been followed by even bigger run-ups that led to new record highs, a dynamic that one trader refers to as the "Apple slingshot."


That pattern has some analysts betting Apple will soar above $1,000 a share in 2013, a scenario almost guaranteed to drive the global obsession with the company's stock into an even greater frenzy.


"The impact on shareholders and on the economy is incredible," said Howard Silverblatt, senior index analyst for S&P Dow Jones Indices. "We've not seen anything like this in the modern trading era. Ever."


Even after the remarkable decade of Apple's revival, the company's stock managed to reach new milestones this year. Early in 2012, Apple became the sixth company ever to surpass $500 billion in market value. In August, it became the only company in history with a market value topping $622 billion.


That performance affects just about anyone who has a 401(k) account or a pension. According to FactSet, a research firm that tracks investment funds, 2,555 institutional investors — mutual funds, hedge funds and pension funds, among others — owned stock in Apple, just behind the 2,590 that held Microsoft stock, as of Sept. 30, the most recent date funds had to disclose their holdings. However, the value of that Apple stock held by institutional investors on that day was $427 billion, compared with $172 billion for Microsoft, according to FactSet.


Silverblatt said the only company that has come close to having such a strong influence on the broader stock markets since World War II is IBM in the early 1980s, when the PC revolution was just getting started. But not only is the value of Apple's stock remarkable, so is its volatility. Such large stocks rarely have such big, quick swings.


Apple shares peaked at $702.10 on Sept. 19, up from $401.44 at the start of the year, a run that astonished analysts. But just as remarkable has been its collapse, falling as low as $505.75 in intra-day trading Nov. 16.


"It's just amazing because it's such a large company," said Brian Colello, a senior research analyst at Morningstar. "The company lost about $35 billion in market cap in one day. That's the size of some large-cap stocks."


Yet such swings have become commonplace for Apple stock. Before its latest swoon of 23.4% since its September high, Apple had experienced three previous corrections of more than 10% over the last two years.


The value of Apple's stock and its extreme swings have made researching it and trading it almost a full-time job for some people. Jason Schwarz of Marina del Rey edits EconomicTiming.com, which sends out up to five newsletters each week to its 1,000 clients that focus in large measure on Apple. He also helps run Lone Peak Asset Management, which has about $500 million in assets.


Schwarz says that what he calls the "Apple slingshot" is actually a virtue of the shares.


"The extraordinary volatility is the result of Apple's strength," Schwarz said. "People try to blame the volatility on Apple's weaknesses."


Schwarz and many other Apple believers argue that people are making a big mistake when they try to understand the stock's behavior by focusing on various bits of bad news such as an executive shake-up, the Maps controversy or questions about market share or competition. They have almost nothing to do with the regular hits taken by Apple shares, the argument goes.


Instead, folks like Schwarz say more technical factors are at work, such as the fact that the fiscal year for many stock funds ends Oct. 31. When the stock peaked in September, many fund managers rushed to sell to lock in profits for the year. Apple stock makes so much money for so many people, then plummets when shareholders pause to reap their profits, Schwarz says.


The volatility has continued in recent weeks, the argument goes, because fears of higher taxes next year have many fund managers trying to take advantage of short-term swings to make bigger profits. That volatility offers tantalizing windows for huge, short-term profits for investors willing to take the risk.





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