Television section

For the week of Aug. 13-19

1. "America's Got Talent" (Tuesday), NBC, 9.9 million

2. NFL Pre-Season (Sunday), NBC, 9.5 million

3. "America's Got Talent" (Wednesday), NBC, 8.4 million

4. "Big Bang Theory," CBS, 8.0 million

5. "60 Minutes," CBS, 7.9 million

6. "NCIS," CBS, 7.2 million

7. "Two and a Half Men" (Thursday), 6.6 million

8. "Big Brother" (Sunday), CBS, 6.5 million

9. "NCIS: Los Angeles," CBS, 6.3 million

10. "The Mentalist," CBS, 5.9 million

Source: http://today.msnbc.msn.com/id/3032450/ns/today-entertainment/

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'Chaos in San Jose': Powerful 7.6 quake hits Costa Rica

NOSARA, Costa Rica (AP) ? A powerful, magnitude-7.6 earthquake shook Costa Rica and a wide swath of Central America on Wednesday, collapsing some houses, blocking highways and causing panic, but officials said there was only one reported death, from a heart attack.

The USGS said the 8:42 a.m. (10:42 a.m. EDT; 1442 GMT) quake struck about 38 miles (60 kilometers) from the town of Liberia. The magnitude initially was estimated at 7.9.

In the town of Hojancha a few miles (kilometers) from the epicenter, city official Kenia Campos said the quake knocked down some houses and landslides blocked several roads.

"So far, we don't have victims," she said. "People were really scared ... We have had moderate quakes but an earthquake (this strong) hadn't happened in more than 50 years."

One man died of a heart attack caused by fright, said Carlos Miranda, a Red Cross worker in the city of Liberia

A preliminary review revealed some structural damage near the epicenter, but no reports of direct deaths or injuries caused by the quake, said Douglas Salgado, a geographer with Costa Rica's National Commission of Risk Prevention and Emergency Attention. He said a tsunami alert had been called off for Costa Rica.

The review also uncovered a landslide on the main highway that connects the capital of San Jose to the Pacific coast city of Puntarenas, Salgado said. Hotels and other structures suffered cracks in walls and saw items knocked off shelves.

"There's chaos in San Jose because it was a strong earthquake of long duration," Salgado said. "It was pretty strong and caused collective chaos."

Michelle Landwer, owner of the Belvedere Hotel in Samara, north of the epicenter, said she was having breakfast with about 10 people when the earthquake struck.

"The whole building was moving, I couldn't even walk," Landwer said. "Here in my building there was no real damage. Everything was falling, like glasses and everything."

At the Hotel Punta Islita in the Guanacaste area, "everybody is crying a lot and the telephone lines are saturated," said worker Diana Salas, speaking by telephone, but she said was no damage there.

In the coastal town of Nosara, roughly 50 miles (80 kilometers) north of the epicenter, trees shook violently and light posts swayed. Teachers chased primary school students outside as the quake hit. Roads cracked and power lines fell to the ground.

Wednesday's quake occurred in a seismically active zone where the Pacific tectonic plate is diving beneath Central America.

"All along the Pacific coast of Central America, you can expect fairly big earthquakes," said seismologist Daniel McNamara of the U.S. Geological Survey.

The quake was fairly deep ? 25 miles (41 kilometers) below the surface. Deeper events tend to be less damaging than ones closer to the surface, but more widely felt.

"If it was a shallower event, it would be a significantly higher hazard," he said.

The last deadly quake to strike Costa Rica was in 2009, when 40 died in a magnitude-6.1 temblor. The last similar-sized quake to hit the country was in 1991 when 47 people were killed in the Limon-Pandora area.

While there was no immediate evidence of tsunami waves, a regional warning was issued based on the quake's strength.

"We're erring on the side of caution until we know for sure," said Mike Angove, acting director of the tsunami program at the National Oceanic and Atmospheric Administration.

___

Associated Press writers Jack Chang and E. Eduardo Castillo contributed to this report from Mexico City. AP Science Writer Alicia Chang contributed from Los Angeles.

Source: http://news.yahoo.com/powerful-earthquake-reported-costa-rica-150424668.html

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Michaelsblog.net Estimated Value $360.00 USD ? Michaelsblog ...

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Source: http://widestat.com/michaelsblog.net

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Holistic approach to breast cancer | Cancer Kick

ALTERNATIVE healing methods for cancer will dominate discussions at the second Malaysian International Conference on Holistic Healing for Cancer at the Sime Darby Convention Centre, Bukit Kiara in Kuala Lumpur on Sept 15.

Foreign and local experts will make presentations on the safe and effective management of breast cancer through holistic medicine.

According to the National Cancer Registry, in 2007, breast cancer is the most common cancer regardless of gender in Malaysia.

As of August 2008, the College of Radiology on breast health noted that a Malaysian woman has a one in 20 chance of getting breast cancer.

The conference embraces all forms of treatments and therapies, including ayurveda (science of longevity), qigong (life energy), Vasthu Sastra (Indian geomancy), yoga and mental health discipline among others.

The event is organised by Cansurvive Centre Malaysia Bhd in collaboration with the Homeopathic Medical Association of Malaysia.

Prominent speakers from the United States, Australia, India and Malaysia will share their views and experiences to combat cancer through non-invasive approaches.

Cansurvive Centre president Dr C.D. Siby said the panel of experts believed cancer was a disease that resulted when a person?s body, mind and spirit are not in balance.

?The modalities we offer enable us to approach the treatment of cancer in a holistic manner. This also helps provide support for those involved in the journey towards healing,? he said, adding that the conference was themed ?Holistic Healing for Breast Cancer.?

He said modern allopathic, ayurveda, homeopathic, yoga, Vasthu Sastra, qigong, pranic healing and bio energies have positive health values to help cancer patients.

?Our focus will be to discuss safe and effective management of breast cancer through an integrative approach using holistic medicine on safe and effective management of cancer through non-invasive approaches to combat this dreadful disease?.

Dr Siby said the discussions would also cover a wide range of information in the prevention and holistic management in breast cancer, identifying key factors and dietary strategies that can be employed to reduce the risk of cancer.

?We are a non-profit organisation established in 2010 to provide guidance and compassionate community support for people suffering from cancer as well as their families and friends,? he said.

Among the speakers at the event are Cansurvive Research Association founder Eve Williamson, University Malaya parasitology consultant Prof Dr G Suresh Kumar, Sunday Star columnist T. Selva, Guolin Qigong Association Malaysia founding president Dr Amir Farid Isahak, author and yoga teacher Manoj Kaimal, ayurvedic expert Dr Ramkumar Kutty, Dr Maya Tiwari from the US, and consultant breast surgeon Datuk Dr Suseela Nair.

Sultanah Khalsom of Pahang will officiate at the event at Sime Darby Convention Centre.

Admission to the conference is free.

To participate, call Stanley Ong at 012-329 7566 or send an email to conference@cansurvive.org.my

Article source: http://thestar.com.my/metro/story.asp?file=/2012/9/4/central/11945023&sec=central

Source: http://cancerkick.com/2012/09/03/holistic-approach-to-breast-cancer/

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Spain's Santander eyes $4.3 billion in Mexico sale

(AP) ? Banco Santander says it hopes to raise up to ?3.4 billion ($4.3 billion) from a public offering of shares in its Mexican subsidiary.

The Spanish bank announced Tuesday it is selling 24.9 percent of Grupo Financiero Santander Mexico's share capital.

It said the sale is part of a strategy of listing the bank's most important subsidiaries within five years and boosting growth.

The sale of almost 1.69 billion shares values Santander Mexico at up to ?13.7 billion.

Banco Santander, S.A. said in a written statement it hopes to list the shares on the Mexican and New York stock exchanges around Sept. 26.

The bank claimed the offering is the largest equity transaction in Latin America this year.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-09-04-Spain-Mexico-Santander/id-8a6b116d8a524d61b0fa61bcf0b3c75c

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Bahrain wants Iran apology over speech translation

Bahrain has demanded an apology from Iran after an official interpreter reportedly replaced the word "Syria" with "Bahrain" in a speech by Egypt's president at the opening of the Non-Aligned Movement in Tehran.

The foreign ministry in Manama on Saturday filed an "official protest memorandum" with Tehran's charge d'affaires over the "misrepresentation made by Iranian State Television" during President Mohamed Morsi's speech on Thursday.

Bahrain "requested the Iranian government apologise for this act, and take the necessary action to correct the breach and ensure that actions like this one don?t happen again," the ministry's demarche said, according to a statement.

Morsi, in the first visit to the Islamic republic by an Egyptian head of state since the 1979 Islamic revolution, in his speech criticised the regime of Syrian President Bashar al-Assad, a key regional ally of Tehran.

"The revolution in Egypt is the cornerstone for the Arab Spring, which started days after Tunisia and then it was followed by Libya and Yemen and now the revolution in Syria against its oppressive regime," Morsi told delegates at the summit, prompting a walk-out by the Syrian delegation.

Manama said that the interpreter on Iran's state television replaced the word Syria with Bahrain several times, although Morsi, who spoke in Arabic, did not mention Bahrain at all.

The Bahraini statement did not name the television channel that it said changed the words, as several state channels transmitted Morsi's speech live, including two in Farsi: IRINN and Channel One.

IRINN broadcast the speech using the official interpretation of the summit, which clearly mentioned Syria, as verified by AFP.

Channel One used its own interpreter who may have substituted the word "Syria" with "Bahrain" in its broadcast, according to a video posted online by the Doha-based Al-Jazeera satellite news channel.

However, AFP on Sunday was unable to verify the authenticity of the video with Iranian television officials.

Relations between Tehran and Manama have been rocky over Iran's vocal criticism of Bahrain's deadly crackdown on Shiite-led protests last year.

Source: http://news.yahoo.com/bahrain-wants-iran-apology-over-speech-translation-104507690.html

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College Master likely to be strong in Sittingbourne Hurdles | bettor.com

College Master likely to be strong in Sittingbourne Hurdles

College Master is expected to be dominant in the Sittingbourne Hurdles in England on Sunday, September 2, 2012. He has been delivering some terrific results with consistency and it will be difficult for his opponents to stand in his way today. A victory will earn him a hat-trick in the sport, which will definitely please his entire team.

The Grade OR event is scheduled to start at 18:28 GMT and the winner will be awarded a cash prize of ?200 in the end. The stamina of all contestants will be put to a stern test, as they will have to cover an overall distance of 480 metres. Although, the distance to cover is not much, yet the hurdles will exhaust the greyhounds.

Moreover, a small mistake can prove to be extremely costly at the end of the day, thus the runners will have to be careful. They have all been trained to do well in this format, thus the spectators will be hoping to see a thrilling contest.

Looking at the statistics of all the greyhounds, it seems that Taylors Trophy is the only one who can cause problems for the favourite runner. He has the ability to outperform his rivals, thus the bookmakers have given him a starting price of 9 to 4. He will definitely get the attention of the punters, as there is no doubt in his ability to cause an upset today.

However, College Master will not make things easy for his opponents, as he likes running in this format. He is carrying the winning momentum, thus the bookies have rated him as the outright favourite to succeed. He will enter the event with a starting price of 10 to 11 and the bettors will be eager to risk some money in his favour.

The B. O'Sullivan?s trainee debuted in 2010 and has been producing some decent results for his team since then. He used to participate in flat events mostly, but things have really worked out well for him in races over hurdles.

In his most recent outing, the brindle dog jumped to the top spot with ease, despite the fact that he was not given the best odds back then. If he repeats a similar show today, no one will be able to come anywhere closer to him in the end.

Disclaimer: The views expressed in this article are solely of the writer?s and do not reflect bettor.com?s official editorial policy.

Source: http://blogs.bettor.com/College-Master-likely-to-be-strong-in-Sittingbourne-Hurdles-a184546

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Remnants of Japan?s Tsunami Attract Archaeological Interest

[unable to retrieve full-text content]A citizens? brigade has been collecting and categorizing thousands of items that were swept out to sea by a tsunami crashing into Japan last year.

Source: http://www.nytimes.com/2012/09/04/science/remnants-of-japans-tsunami-attract-archaeological-interest.html?partner=rss&emc=rss

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This $10K Chinese car comes equipped with remote control ? seriously

Google may have a self-driving car in the lab. But Chinese automotive company BYD has a car you can buy today ? with an actual, real, operational remote control.

The BYD Su Rui is an ordinary-looking 5-seat sedan with 154 horsepower and 36 miles to the gallon. But it comes standard with very un-ordinary remote control technology that allows owners to park the car in tight spots, call the car over to pick them up in case of inclement weather, or show off for their friends ? all at the sedate pace of 1.2 miles per hour.

At least, until hackers figure out a way to boost that speed.

Source: TechNovelgy

The Su Rui remote control is not exactly like James Bond?s remote control in Tomorrow Never Dies.

BYD won a ?Best Leading Science and Technology? award at the 2012 Beijing Auto Show for its remote driving technology. And while it won?t allow owners to drive their vehicles at the speed and distance of James Bond?s BMW in Tomorrow Never Dies, it is the first ever full-size vehicle you can treat like an RC toy from Radio Shack.

Using the included remote, drivers can start the car, move it forward and backward, and turn. Owners can also turn on the heat or A/C to get the cabin temperature just right.

The remote control functionality, however, is only operational when the driver is within 30 feet of the vehicle, likely as a safety measure. Again, I?m sure that interested hackers will increase that range shortly. In fact, install a camera, extend range via WiFi or radio ? and the remote control could get even more interesting.

And I?m not sure why hackers would only mod their own vehicles. I?m predicting here and now that we will hear stories of car hacking, whether malicious or prank. And possibly even police reports of vehicles being stolen without any actual thief being physically present.

The Su Rui is available for just $10,365 USD for the base 1.5 liter model, or $15,710 for a turbo-charged version.

Image credit: BYD

Source: http://feedproxy.google.com/~r/Venturebeat/~3/fSqNSivfC04/

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Inquiry on Tax Strategy Adds to Scrutiny of Finance Firms | Tax ...

The attorney general, Eric T. Schneiderman, has in recent weeks subpoenaed more than a dozen firms seeking documents that would reveal whether they converted certain management fees collected from their investors into fund investments, which are taxed at a far lower rate than ordinary income.

Among the firms to receive subpoenas are Kohlberg Kravis Roberts Company, TPG Capital, Sun Capital Partners, Apollo Global Management, Silver Lake Partners and Bain Capital, which was founded by Mitt Romney, the Republican nominee for president. Representatives for the firms declined to comment on the inquiry.

Mr. Schneiderman?s investigation will intensify scrutiny of an industry already bruised by the campaign season, as President Obama and the Democrats have sought to depict Mr. Romney through his long career in private equity as a businessman who dismantled companies and laid off workers while amassing a personal fortune estimated at $250 million.

Some executives at the firms said they feared that Mr. Schneiderman, a first-term Democrat with ties to the Obama administration, was seeking to embarrass the industry because of Mr. Romney?s roots at Bain. Others suggested that the subpoenas, which were issued by the attorney general?s Taxpayer Protection Bureau, might be part of an effort to recover more revenue for New York under state tax law. The attorney general?s office does not have the power to enforce federal tax laws.

A spokesman for Mr. Schneiderman declined to comment.

The tax strategy ? which is viewed as perfectly legal by some tax experts, aggressive by others and potentially illegal by some ? came to light last month when hundreds of pages of Bain?s internal financial documents were made available online. The financial statements show that at least $1 billion in accumulated fees that otherwise would have been taxed as ordinary income for Bain executives had been converted into investments producing capital gains, which are subject to a federal tax of 15 percent, versus a top rate of 35 percent for ordinary income. That means the Bain partners saved more than $200 million in federal income taxes and more than $20 million in Medicare taxes.

The subpoenas, which executives said were issued in July, predated the leak of the Bain documents by several weeks and do not appear to be connected with them. Mr. Schneiderman, who is also co-chairman of a mortgage fraud task force appointed by Mr. Obama, has made cracking down on large-scale tax evasion a priority of his first term.

As a retired partner, Mr. Romney continues to receive profits from Bain Capital and has had investments in some of the funds that documents show used the tax strategy.

The campaign issued a statement saying that Mr. Romney did not, however, benefit from the practice. ?Investing fee income is a common, accepted and totally legal practice,? said R. Bradford Malt, a lawyer for Mr. Romney who manages his family?s investments and trusts. ?However, Governor Romney?s retirement agreement did not give the blind trust or him the right to do this, and I can confirm that neither he nor the trust has ever done this, whether before or after he retired from Bain Capital.?

Managers at a typical private equity firm or hedge fund collect from their investors management fees based on the size of the fund. But most of their compensation comes as a share of the profits earned by the fund. The Internal Revenue Service allows those profits to be considered ?carried interest,? taxed at the capital gains rate typically reserved for investments.

The tax strategy used by Bain and other firms to convert management fees ? the compensation normally taxed as ordinary income ? into capital gains is known as a ?management fee waiver.? The strategy is widely used within the industry: 40 percent of the 35 buyout firms based in the United States surveyed in 2009 by Dow Jones said their partners used at least some of the firm?s fees to make investments in their funds.

But some prominent firms appear to avoid the practice. The Carlyle Group and Blackstone Group have stated in regulatory filings that their partners have not diverted management fees into investments in their funds.

In the varied world of private equity, some firms may have lawyers who are not aware of the strategy or have steered their clients away from it, said a lawyer at one firm who has used the strategy for his clients. Others, he said, may not have the operational capabilities to handle the complex transactions.

Apollo Global Management, the buyout firm co-founded by Leon Black and now publicly traded, is among those that use the conversion strategy. Between 2007 and 2011, Apollo converted more than $131 million in fees into investments in its funds, according to S.E.C. filings. A spokesman for the firm declined to comment.

Likewise, K.K.R. converted more than $180 million in fees between 2007 and 2009, according to its filings. Kristi Huller, a spokeswoman for the firm, declined to comment about any regulatory matter, but said in an e-mail that K.K.R. had not used the tax strategy ?for the past few years.?

Other firms that received subpoenas include Clayton, Dubilier Rice; Crestview Partners; H.I.G. Capital; Vestar Capital Partners; and Providence Equity Partners. Representatives for all these firms declined to comment.

Tax lawyers have justified the arrangements by arguing that converting the management fees into carried interest, which could lose some or all of its value if a fund does poorly, entitles the managers to the lower capital gains rate, which is intended to help mitigate the risks taken by investors.

?They?re risking their management fee ? they?re giving up the right to that management fee in any and all events,? said Jack S. Levin, a finance lawyer whose firm has represented Bain on some matters. Mr. Levin said he did not consider the practice risky or even aggressive.

?The I.R.S. has known that private equity funds have been doing this for 20 years,? he said.

In 2007, the agency began taking a closer look at suspected tax abuses at hedge funds and private equity firms. In a statement at the time, an I.R.S. spokesman said that management fee conversions were among several ?areas of possible noncompliance.? But no formal ruling appears to have emerged.

Some private equity firms take what tax experts consider a less aggressive approach to the conversions, waiving fees on all of a given fund?s investments over the lifetime of the fund, which can be 10 years.

But other firms choose which funds or even which particular investments to waive fees on frequently, like every year or every quarter. Such arrangements may allow the executives to apply the waiver only when they believe their funds are more likely to appreciate in value, substantially reducing their investment risk.

Mr. Schneiderman is also looking at whether private equity executives treated management fees as a return of invested capital ? potentially escaping taxation entirely ? or deferred payouts of the converted fees in ways that improperly reduced their tax liabilities.

Executives at three of the firms subpoenaed by Mr. Schneiderman, who asked for anonymity because they were bound by confidentiality agreements, said that disclosures to their investors clearly stated that the waived fees were allocated equally to all the investments in a fund.

The leaked documents show that Bain has in recent years waived management fees in at least eight private equity and other funds, including one formed as early as January 2002. The documents stated that Bain executives had the right to decide either annually or each quarter whether to waive some or all of their management fees; they also had the ability to convert the waived fees into investments in particular companies held by the funds.

Victor Fleischer, a law professor and finance expert at the University of Colorado who has been critical of the tax rules for private equity firms, said he believed Bain had waived management fees into investments with so little risk that the arrangement would not qualify for the capital gains rate if challenged by the I.R.S.

?There is a tension between economic risk and tax risk that is supposed to be inversely proportional,? Mr. Fleischer said. ?The way Bain set it up there?s not much risk at all, so it?s hard to see how this income should receive capital gains treatment.?

Michael Luo contributed reporting.

Article source: http://www.nytimes.com/2012/09/02/business/inquiry-on-tax-strategy-adds-to-scrutiny-of-finance-firms.html?pagewanted=all

Tags: taxes-news

Source: http://www.taxaccountantsanramonca.com/inquiry-on-tax-strategy-adds-to-scrutiny-of-finance-firms/

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