Tuesday, February 14, 2012

Apple stock breaks $500 level, continuing rally

(AP) ? Apple's stock broke above $500 for the first time Monday. It was the latest step in a rally that began more than two weeks ago, when the company reported staggering sales and profits for the holiday quarter.

Apple Inc. has been trading the position as most valuable company in the world with Exxon Mobil Corp. since last summer, but the latest rally has made it 17 percent more valuable than the oil company. Its market capitalization is now $465 billion, compared to Exxon's $400 billion.

On Jan. 24, Apple posted net income of $13.06 billion for the quarter that ended in December, more than doubling its profits from the year before. Sales were $46.3 billion, up 73 percent from a year ago.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-02-13-Apple-Stock/id-17e9a4cd1795434ab9ecc09d8c7a49b9

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Friday, February 10, 2012

Planning a Backyard Cooking area Party | ArticleGoes - Free ...

Grilling is a popular Usa pastime. While many individuals end up grilling for their spouse and children, not
everyone definitely makes the decision to host a backyard barbeque celebration, despite the fact that it is a very good
idea. If you are interested in socializing and sharing excellent food with your friends, family,
coworkers, as well as neighbors, you may want to, not less than, think about planning a garden barbeque
party.

Back yard barbeque parties, like most other parties, require considering. While the planning linked
with a backyard cooking area may not be as large as almost every other parties, it is still important. The
proper organizing of a party, together with a barbeque, will help to keep your party is the best that will
it can be. For that reason, you should start making party ideas as soon as you make the
selection to host a celebration.

Since backyard barbecue parties are concentrated on food, you will want to find the food that
you are going to serve. To please your party guests, you will want to have a fairly big selection of
meats. This will help to to make sure that all of your occasion guests are able to consume the foods that they
such as. In addition to meats, you may also want to think about side dishes. Popular barbeque party
side dishes may include, but shouldn?t be limited to, toss soups, macaroni salads, coleslaw, and
fruit flesh salads.

In addition to the foods that you are interested in providing, you may also want to method how those
food products will be made. Obviously, the purpose of a barbeque party is to grill the foods then, but the majority of
of the side dishes must be prepared ahead of time. To guarantee that all of your side dishes
are set on time, you may want to start off cooking them the day before your barbeque or simply earlier
that morning hours. If you are having a big party, you may need to make a large amount of food. In the event that
this is the cases, it can be a good idea to have party guests bring a small side dish.

Additional to main food, made at your barbecue, it?s also possible to want to think about cocktails and
snacks. For a practical price, you should be capable of obtain a number of different appetizers for your
barbeque. Great goody ideas include party crackers and cheese, snacks, chips, and pretzels. For drinks,
you have to decide as to whether or not you want alcoholic beverages made at your party.
No matter whether or not you choose to function alcohol, you should be in the position to purchase your
party refreshments from most grocers.

While backyard bbqs are center on food items, additional activities would be a good idea. At most
shops, you should be able to find numerous affordable toys or maybe backyard activities.
Most people, especially teens and also adult males, enjoy playing sporting activities. A football, tennis or
horseshoe pit is often a great addition to a person?s backyard barbeque. If youngsters will be attending
your current party, you may want to own child friendly games on hand.

If you have a swimming pool, it may be a good idea to combine swimming into your garden barbeque;
however, it really is optional. If you are planning about allowing your social gathering guests to use your swimming pool, you
may want to think about establishing some guidelines. These rules will need to focus on pool security and
children during the pool. While setting up rules at your bbq may seem like a bad idea, it?s not at all,
especially when it comes to swimming pool safety.
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Of course, you?ll also natural beauty tips want to invite your wedding guests to your party. This can be accomplished with formal
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barbeque get together, a guest number marc jacobs watches may also help you get prepared for the big day.

Source: http://articlegoes.com/planning-a-backyard-cooking-area-party.html

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Thursday, February 9, 2012

People today are becoming more aware about making their homes ...

Security doors steel

People today are becoming more aware about making their homes more secure with the aid of home security systems. They appreciate the sense of security that a good home security system affords them.It is important that you make all effort and spare no expense in protecting your home from danger and theft. It is always wise to invest into a good home security system for your house instead of leaving yourself vulnerable to crime and danger. Make no mistake; having a good home security system will do wonders for your peace of mind.Nowadays home security systems utilize highly sophisticated technology, and employ innovative techniques to understand the psychology of burglars and criminals. Though these home security systems may not be completely foolproof, they at least help reduce the risk of crime and burglary significantly.You may naively think that just using sturdy doors and windows with strong bolts may discourage a would-be-intruder, but that is far from the truth. Intruders and burglars are very good at locating easy access to the inside of the house. These criminals study the house well to look for the weakest points of entrance and also the best escape routes such as the security door or Security doors steel, windows and ventilation system. They also carefully observe for any security system in use such as home security cameras,?High security door and home security alarm etc. Burglars may think twice about breaking into a house outfitted with home security products, so a good home security system is a good deterrent against these crimes.

Source: http://www.wyoshakes.com/home-improvement/people-today-are-becoming-more-aware-about-making-their-homes-more-secure/

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Entire genome of extinct human decoded from fossil

Tuesday, February 7, 2012

In 2010, Dr. Svante P??bo and his colleagues presented a draft version of the genome from a small fragment of a human finger bone discovered in Denisova Cave in southern Siberia. The DNA sequences showed that this individual came from a previously unknown group of extinct humans that have become known as Denisovans. Together with their sister group the Neandertals, Denisovans are the closest extinct relatives of currently living humans.

The Leipzig team has now developed sensitive novel techniques which have allowed them to sequence every position in the Denisovan genome about 30 times over, using DNA extracted from less than 10 milligrams of the finger bone. In the previous draft version published in 2010, each position in the genome was determined, on average, only twice. This level of resolution was sufficient to establish the relationship of Denisovans to Neandertals and present-day humans, but often made it impossible for researchers to study the evolution of specific parts of the genome. The now-completed version of the genome allows even the small differences between the copies of genes that this individual inherited from its mother and father to be distinguished. This Wednesday the Leipzig group makes the entire Denisovan genome sequence available for the scientific community over the internet.

"The genome is of very high quality", says Dr. Matthias Meyer, who developed the techniques that made this technical feat possible. "We cover all non-repetitive DNA sequences in the Denisovan genome so many times that it has fewer errors than most genomes from present-day humans that have been determined to date".

The genome represents the first high-coverage, complete genome sequence of an archaic human group - a leap in the study of extinct forms of humans. "We hope that biologists will be able to use this genome to discover genetic changes that were important for the development of modern human culture and technology, and enabled modern humans to leave Africa and rapidly spread around the world, starting around 100,000 years ago" says P??bo. The genome is also expected to reveal new aspects of the history of Denisovans and Neandertals.

The group plans to present a paper describing the genome later this year. "But we want to make it freely available to everybody already now" says P??bo. "We believe that many scientists will find it useful in their research".

The project is made possible by financing from the Max Planck Society and is part of efforts since almost 30 years by Dr. P??bo's group to study ancient DNA. The finger bone was discovered by Professor Anatoly Derevianko and Professor Michail Shunkov from the Russian Academy of Sciences in 2008 during their excavations at Denisova Cave, a unique archaeological site which contains cultural layers indicating that human occupation at the site started up to 280,000 years ago. The finger bone was found in a layer which has been dated to between 50,000 and 30,000 years ago.

The genome is available at http://www.eva.mpg.de/denisova and as a Public Data Set via Amazon Web Services (AWS): http://aws.amazon.com/datasets/2357.

###

Max-Planck-Gesellschaft: http://www.mpg.de

Thanks to Max-Planck-Gesellschaft for this article.

This press release was posted to serve as a topic for discussion. Please comment below. We try our best to only post press releases that are associated with peer reviewed scientific literature. Critical discussions of the research are appreciated. If you need help finding a link to the original article, please contact us on twitter or via e-mail.

This press release has been viewed 49 time(s).

Source: http://www.labspaces.net/117423/Entire_genome_of_extinct_human_decoded_from_fossil

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Saturday, February 4, 2012

I bought a Dell Photo All in One 966 Printer. I want to utilize the fax ...

My Question: I bought a Dell Photo All in One 966 Printer. I want to utilize the fax feature.?
I want to use the DSL modem as my ?device?. My understanding is that I have to buy a DSL Filter. How do I install if I don?t have a phone line?


You must have a phone line to use to use the fax feature. As far as the DSL filters go, you get them when you order your DSL service, if you don?t have a phone line then you can?t have DSL service.

What do you think? Answer below please!

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Source: http://www.backofthesiteindex.com/i-bought-a-dell-photo-all-in-one-966-printer-i-want-to-utilize-the-fax-feature-fax-driver/

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Is it a good time to buy a home in 2012 ? Irvine Real Estate ? Homes ...

You are here: Home \ Latest News \ Is it a good time to buy a home in 2012 ? Irvine Real Estate ? Homes for Sale in Irvine

Every home buyer wants to know the answer to the million dollar question!? Is 2012 a good time to buy a home in Irvine Orange County?? We don?t have a crystal ball so depending on who you ask, the answer may differ from one person to the next.? Check out this short video and see if it is a great time for you to buy a home in 2012!

Search for ALL Homes in the Irvine & Surrounding Areas of Orange County Today!

Read what others have to say about Robert and check out my Zillow client reviews!

Posted on Irvine Orange County Real Estate Market News

Source: http://www.irvinerealestatelink.com/is-it-a-good-time-to-buy-a-home-in-2012-irvine-real-estate-homes-for-sale-in-irvine/

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Friday, February 3, 2012

IDC: Nokia, Samsung, Apple are the new top 3 handset makers

The latest figures are in from IDC: the top three global smartphone makers are Nokia, Samsung and Apple, in that order. Drilling down into the figures finds some surprises: Cupertino's third-place with only 8.7 percent of the market, while the giants of Korea and Finland are duking it out with 22.8 percent and 26.6 respectively. LG and ZTE are tied for fourth, but that's hardly good news for Goldstar, given that it's lost a staggering 42.2 percent of its market share in the last twelve months (Nokia was the other loser, eating 8.2 percent). The cause for the drop is in part the world's rejection of feature-phones (dropped faster than fashionistas rightly abandoned Ugg Boots and Jeggings) as millions upgraded to smartphones. After the break we've got the tables in full for anyone who wants to have their mind blown at the sheer quantity of handsets shipped in the last year, both financial and calendar.

Continue reading IDC: Nokia, Samsung, Apple are the new top 3 handset makers

IDC: Nokia, Samsung, Apple are the new top 3 handset makers originally appeared on Engadget on Thu, 02 Feb 2012 08:46:00 EDT. Please see our terms for use of feeds.

Permalink Cellular News  |  sourceIDC  | Email this | Comments

Source: http://www.engadget.com/2012/02/02/idc-nokia-samsung-apple-are-the-new-top-3-handset-makers/

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The 2012 Convenience Retail Outlook : Convenience Store Decisions

By David Bishop, Contributing Editor.

?The outlook for 2012 depends largely on the focus of the question. What is clear based on the CSD/Balvor 2012 Convenience Retail Outlook Survey is that the macro environment will remain challenging, while the forecast for the industry and specific retailers is much more positive.
Just as there are many different factors impacting the business going into the year, the strategies that retailers are pursuing is nearly as varied. The goal of the survey was to examine where convenience retailers will most likely concentrate efforts in 2012 across a range of topics, including fuel rewards programs, use of social media and strategic focus with foodservice and merchandise.

U.S. Economy
The survey shows a higher percentage of retailers have a negative outlook for this year. The current sentiment represents a sizable shift as the net outlook score, which measures the difference between optimistic and pessimistic view, is 20 points lower than when retailers started off last year. This dramatic downgrade illustrates a growing concern that there are still tougher times ahead for the economy.


This change in outlook actually pales in comparison to the view now held by consumers, based on an analysis of year-over-year results from Fannie Mae?s monthly survey. What?s startling is that 75% of the population today has a negative outlook for the U.S. economy, which is a 15-point increase versus last year.

Company Outlook
The observation has been made numerous times that convenience retailers are more resistant to recessionary pressures. This may help explain why retailers have a positive outlook for their business this year as compared to when entering 2011.

The net outlook score for a retailer?s own company remains extremely high, at 83% currently, indicating that most retailers?or at least those surveyed?believe their companies are well positioned to outperform the broader market, or at least their competitors, in 2012.

Motor Fuel
That national retail price for regular gasoline averaged $3.54 in 2011 and remained above the $3 price level throughout the year. Given the impact that these elevated retail prices have on consumer expenditures, it?s no surprise that consumers are responsive to retail deals that provide some economic relief at the fuel pump.

As a result of the higher retail fuel prices, the average U.S. household spent $650 more on motor fuel purchases in 2011 versus 2010, according to Balvor estimates.

Looking back two years, consumers paid almost an additional $1,000 to fuel up in 2011 as compared to 2009 when the average price per gallon was $1.20 less, so the impact is real and significant.

Part of the reason that consumers express such a gloomy view for the future is that household income hasn?t kept up at all with inflation.
The Fannie Mae survey highlights that 18% of households report lower incomes versus 12 months ago while another 66% indicate income is about the same.

Consequently, consumers are under increasing pressures to find more ways of saving money.

These insights haven?t been lost on convenience retailers as 30% of convenience retailers surveyed currently provide a ?cents-off-per-gallon? discount program in exchange for using a certain methods of payment. This is a 12-point increase in the number of retailers who offer such a program as compared to just two years ago when 18% of convenience retailers offered such programs.

About 14% of the retailers offer reward-based programs that can translate into even larger savings per gallon, depending on the points earned. Although some midsized retailers do offer this type of program, it still skews toward larger store operators.

Protecting the motor fuel business remains a top priority for convenience retailers in 2012. The importance of doing so may explain why more than three-quarters of the retailers surveyed are concerned with the impact that competitive discount or reward programs may have on their business performance.

In-Store Sales
Inside dollar sales are expected to grow approximately 3.6% in 2012. Foodservice appears ready to gain a larger share of the in-store business as the sales targets estimate a 4.7% gain this year while retailers anticipate that merchandise categories will grow 3.4% during the same time period.

Retailers are becoming slightly less positive about the foodservice business this year as the net outlook score declined by 5 percentage points to 67 points. Higher cost of goods and increased competition are two key factors weighing on most retailers? bottom line today.

In fact, even with skyrocketing commodity costs that show no sign of reversing in the near-term, only 13% have raised hot coffee prices recently with another 10% indicating that they?re extremely likely to do so this year. However, just over 10% have reduced margin pressure while still remaining price competitive by introducing a smaller cup size to their program.

What?s evident is that more retailers are investing in upgrading hot dispensed beverage equipment, which? 36% have either already completed upgrading before 2012 or are extremely likely to upgrade during the next 12 months.

Looking at the merchandise side, 71% of the retailers are positive about the prospects for merchandise in 2012, up six points versus last year.

Adding new products or leveraging multi-vendor displays tops the list with 23% and 22% of retailers having added or being extremely likely to add this year, respectively. ?

Even though just 13% of the retailers are increasing focus on private label programs this year, larger retailers are leveraging their scale to build this part of the business. Retailers operating 51 or more stores are more than 2.5 times more likely to be pursuing this strategy as compared to the average.

Consumer Marketing
Whether it is text messaging, social media sites, or any number of communication platforms, reaching consumers off-site is rapidly changing these days.

Facebook is second only to Websites today and its role will continue to grow as nearly 60% of all c-store retailers plan to increase the use of Facebook in 2012, according to the CSD/Balvor survey. Midsized retailers, those with 51 to 200 stores, are the most likely to expand their Facebook activity this year.

Text messaging and e-mail marketing are also both experiencing strong usage growth as convenience retailers are increasing the use of each 43 and 46% respectively. Retailers operating 11 to 50 stores are the most likely to leverage texting more while retailers with 200 or more stores are the most likely to increase e-mail marketing campaigns in 2012.

Expect to see a dramatic rise in the number of retailers? using social media to promote hot beverages. For instance, 10% of the retailers indicate that they are already doing this and another 26% said this is something that they?re extremely likely to launch this year.

Summary
Convenience retail continues to demonstrate its ability to resist many of the downtrends associated with recessionary times.
This track record is likely why the outlook for the industry in 2012 is up 7 points versus last year at this time with 78% of the retailers expressing optimism as they understand the value that convenience retailers can deliver to today?s consumer.

That outlook is driven by a relentless focus on finding ways to offer greater consumer value both inside the store and at the pump.
Much of the value is being created by the retailer?s willingness to reinvest in the business in ways that enhance the current offering and as a result encourage more consumers to spend a greater share of their wallet at convenience stores.

Insights from the CSD/Balvor 2012 Convenience Retail Outlook Survey are based on a total of 155 convenience store operators, representing more than 21,000 stores. Retailers completed the online survey between Oct. 25 and Nov. 4, 2011.

Source: http://www.csdecisions.com/2012/02/02/the-2012-convenience-retail-outlook/

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Thursday, February 2, 2012

Mass hysteria rare, but usually seen in girls

This Jan. 17, 2012 image made from video provided by NBC News/TODAY, Le Roy, N.Y. Junior/Senior High School senior Thera Sanchez speaks on the Today Show in New York. Sanchez said she was fine until she woke up one day and began stuttering. She said symptoms worsened to the point she couldn't even attend class. She said she's had some psychological counseling, which she says increased her stress but has not resolved whatever is causing her condition. "I want an answer. A straight answer," she said on the show. (AP Photo/NBC News/TODAY)

This Jan. 17, 2012 image made from video provided by NBC News/TODAY, Le Roy, N.Y. Junior/Senior High School senior Thera Sanchez speaks on the Today Show in New York. Sanchez said she was fine until she woke up one day and began stuttering. She said symptoms worsened to the point she couldn't even attend class. She said she's had some psychological counseling, which she says increased her stress but has not resolved whatever is causing her condition. "I want an answer. A straight answer," she said on the show. (AP Photo/NBC News/TODAY)

Le Roy Junior/Senior High School students leave the campus, Jan. 26, 2012. Three more students came forward in the last few days with neurological symptoms like those of a dozen classmates who exhibited unusual tics and verbal outbursts in recent months. (AP Photo/Democrat and Chronicle, Max Schulte)

Le Roy School District Well #4 on the campus of Le Roy Junior/Senior High School, Jan. 26, 2012. Three more students came forward in the last few days with neurological symptoms like those of a dozen classmates who exhibited unusual tics and verbal outbursts in recent months. (AP Photo/Democrat and Chronicle, Max Schulte)

The village of Le Roy, N.Y., Jan. 26, 2012. Three more students came forward in the last few days with neurological symptoms like those of a dozen classmates who exhibited unusual tics and verbal outbursts in recent months. (AP Photo/Democrat and Chronicle, Max Schulte)

(AP) ? Fifteen teenage girls report a mysterious outbreak of spasms, tics and seizures in upstate New York. But tests find nothing physically wrong.

Scores of adults in Northern California report crawling skin sensations and other bizarre symptoms. Government doctors find no physical cause after an extensive study.

The conclusion by experts is that these are just the latest examples of what used to be called mass hysteria. Now known as conversion disorder, sufferers experience real, but psychologically triggered symptoms.

It's rare, but scores or even hundreds of outbreaks have been recorded through the decades around the world.

It's a diagnosis that's often reached after other causes are ruled out, and is usually traced to a stress-causing trigger. Individual cases are common, even the kind involving tics and other movement-related symptoms. On average, the National Institutes of Health gets reports of two such cases each week, said Dr. Mark Hallett, who heads the branch that fields those calls.

Outbreaks, however, are unusual. Most involve females, often teenagers. Why is not clear. Some think it has to do with the way girls are socialized to deal with stress. Others say that females are just more likely to seek medical help ? and thus appear in medical reports.

Symptoms seen in outbreaks vary, and cases have included blindness, headaches, nausea, paralysis and inability to speak. As in infectious disease outbreaks, they often seem to begin with one person who gets the symptoms and then it spreads to people she knows. Experts believe that these first "index" cases often are people who have symptoms caused by a physical illness, but subsequent cases are subconscious mimicry.

Recent examples include:

?In the fall of 2007, at least eight girls at a Roanoke, Va., high school developed strange twitching symptoms similar to those in upstate New York. The school district spent $30,000 to check the school, but investigators found no environmental cause.

?Earlier in 2007, a mysterious illness swept through a Catholic boarding school in Chalco, Mexico, causing 600 girls to suffer fever, nausea and buckling knees that left many unable to walk. Batteries of tests found no physical cause.

?In 2002, 10 teenage girls at a small, rural North Carolina high school had epileptic-like seizures and fainting. The school buildings were inspected, but nothing was found to explain the outbreak.

Allegations of fakery sometimes surface, but most experts believe these patients have real symptoms that they can't consciously control.

One thing they often have in common, is some kind of precipitating stress in their lives.

That was the case in Le Roy, N.Y., the site of the latest example of this disorder. Dr. Jennifer McVige, a pediatric neurologist based in nearby Batavia, has seen 10 of the teens. "All of the kids had something big that happened," like divorcing parents or some other upsetting situation, McVige said, declining to go into detail.

The Le Roy Central School District paid for an inspection of the school, checking for formaldehyde, carbon monoxide, carbon dioxide, molds, solvents and other volatile organic compounds and even lighting levels. No environmental cause for the cases was found.

But the belief that there must be a physical cause drew national news attention, and finally, California environmental activist Erin Brockovich. She wanted to investigate whether a 1970 derailed train carrying chemicals may have contaminated groundwater with trichloroethene, or TCE. State health officials say no TCE was found at the school, and on Wednesday they reported no sign of that chemical or other threatening contaminants in the school or village water supply.

The idea that it's a stress-induced psychological disorder has been hard for some of the girls and their parents to swallow. Some have appeared on national and international TV voicing that view.

On NBC's Today Show last month, senior Thera Sanchez told how her Tourette-like tics worsened to the point where she couldn't even attend class. She had some psychological counseling, which she says didn't resolve her condition. "I want an answer. A straight answer," she said on the show.

Doctors familiar with the girls' treatment say the continuing news coverage has slowed progress they were making. They have recommended that all the girls see therapists. But that's easier said than done. There's a shortage of pediatric psychologists in that part of the state, McVige said.

Experts elsewhere have looked on curiously at the Le Roy story. One piece of footage prompted laughter this week among a group of physicians. They were watching a BBC report on the cases, which showed one girl with a jerking arm that suddenly became very controlled as she applied eyeliner and then jerked around again when she was done.

"It's almost impossible to conceive of a true neurological disorder that can allow for that complexity of switching back and forth," said Dr. Jose Maldonado, chief of psychosomatic medicine at Stanford University, who mentioned the group's reaction. "It also looks very purposeful. I'm not saying she's making it up. I'm just saying that it doesn't look neurological."

The AP was unable to reach the girl or her mother.

McVige acknowledged the other doctors' reaction. She recalled one examination in which the tic in one girl's arm stopped when a doctor forcefully held it, but then the other arm started moving. That also is not something generally seen in neurological disorders.

She said the Le Roy outbreak, at its core, is no hoax. But "now I think there's an overlay of some of the girls trying to prove 'there's something wrong with me,'" she added.

Calls from the AP to three of the girls were not returned. Brockovich did not respond to an email request for an interview, either.

Last week, while those cases were in the news, government doctors coincidentally released a long-awaited report on their investigation into an illness known as Morgellons (mor-GELL-uns).

The condition is marked by some bizarre symptoms, including sores, crawling sensations on the skin and ? perhaps worst of all ? mysterious fibers that the patients believe sprout from their skin. Anecdotal and media reports about cases six years ago led to a study by the Centers for Disease Control and Prevention.

The agency found no environmental or physical cause for the cases; tests showed the fibers came from fabric, like clothing or blankets. Psychological evaluations suggested conversion disorder, said a neurologist who worked on the study.

Some specialists argue it doesn't fit in that category. Some believe Morgellons is a form of psychosis. Others insist these patients are not psychotic, but suffer from a less severe kind of psychological disorder which isn't well understood yet.

Also, at least some of the Morgellons patients probably don't have a psychological problem at all, said Dr. J. Michael Bostwick, a psychiatrist at Mayo Clinic who has studied delusions of infestation.

It turned out one woman had itchy skin that was caused by high calcium levels that developed from parathyroid tumors.

In past outbreaks, the symptoms of conversion disorder have tended to disappear in a matter of weeks or a few months. In Le Roy, many of the cases appeared around the beginning of the school year and were improving, but about half of the girls got worse after the wave of media attention and disputes about the cause of the illness.

Indeed, McVige said she has stopped forwarding media requests to her patients.

Anxiety and suspicion are continuing, fueled by YouTube, Facebook and other social media that weren't prevalent in earlier outbreaks, observed Robert Bartholomew, a sociologist who has studied mass hysteria for many years.

"There is a good chance that symptoms could spread to other students and last for several more months ? even years," Bartholomew said in an email from New Zealand, where he teaches at a university.

___

Online:

Le Roy school district information: http://www.leroycsd.org/

Mayo Clinic information:

http://www.mayoclinic.com/health/conversion-disorder/DS00877

National Institutes of Health:

http://rarediseases.info.nih.gov/GARD/Condition/6191/Conversion_disorder.aspx

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-02-02-US-MED-Mass-Hysteria/id-5e32a5367cec4c2caa7000c82b85b73e

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Groundhog Day 2012 Results: Shadow! Winter to Continue!


Punxsutawney Phil, the groundhog, the myth, the legend, emerged from Gobbler's Knob this morning and saw his shadow, thus decreeing six more weeks of winter.

Of course, given the unseasonably warm temperatures and a lack of snow this winter throughout most of the northern U.S., maybe that's not the worst thing.

In any case, the central Pennsylvania celebrity made his annual weather forecast at daybreak Thursday before an overflow crowd of over 15,000 supporters.

Given reports of showers in the area, there were doubts going into this morning over whether there would be a shadow sighting, but evidently there was. Phil don't lie.

Punxsutawney Phil

"Many shadows do I see: six more weeks of winter it must be," Phil said, according to the Washington Post, CNN, USA Today and local news reports.

According to legend and Groundhog Day folklore, Phil’s sighting of his own shadow on February 2 means there will be six more weeks of winter ahead of us.

Had Phil not it, it would have meant there will be an early spring.

Since the Groundhog’s first prediction in 1887, Phil has seen his shadow 99 times and failed to spot it just 16 times. There are 9 missing years in the record.

The official website of Punxsutawney Phil, perhaps not the most impartial source, claims the Groundhog has issued a correct forecast 100% of the time.

AccuWeather’s grade for the affable rodent’s weather prognostication skills is slightly lower than perfect, but still quite respectable at around 80 percent.

So bundle up ... or not. Gotta love climate change.

Source: http://www.thehollywoodgossip.com/2012/02/groundhog-day-2012-results-shadow-winter-to-continue/

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Wednesday, February 1, 2012

Study compares the accuracy of valuation methods of insurance companies

Study compares the accuracy of valuation methods of insurance companies [ Back to EurekAlert! ] Public release date: 1-Feb-2012
[ | E-mail | Share Share ]

Contact: Sona Rai
sr2763@columbia.edu
212-854-5955
Columbia Business School

NEW YORK -- A study by Columbia Business School Professor Doron Nissim, Ernst & Young Professor of Accounting & Finance, reveals a better understanding of how investors value insurance companies. Two alternative approaches are typically used when estimating a company's equity value: fundamental valuation and relative valuation. Academic research and teaching tends to emphasize fundamental valuation models, although relative valuation models which typically involve price multiples, or ratios used to compare a company to a group of similar companies are much more common in practice. Unlike most prior studies, this research, forthcoming in the Review of Accounting Studies, examines the impact of industry-specific adjustments on the precision of estimated value relative to stock price.

Although book value multiples tend not to be an accurate measure when valuing non-financial firms, these multiples perform relatively well when valuing insurance companies, the study shows. In fact, over the last decade, book value multiples have performed significantly better than earnings multiples. Contributing factors include the financial nature of the majority of insurance company assets and liabilities, the relatively small size of unrecognized intangibles, and the role of capital-related regulation.

Analysts often exclude Accumulated Other Comprehensive Income (AOCI) from book value, a practice that is unique to the insurance industry. This is usually seen as a way to reduce the volatility of book value and mitigate accounting distortions. However, excluding AOCI tends to worsen, rather than improve, the accuracy of valuation, the study shows. AOCI measures unrecognized economic gains and losses that increase net invested assets, and should therefore be included in book value.

In another surprising finding, the study also showed that excluding realized investment gains and losses from earnings does not improve valuation accuracy. An exception occurred during the recent financial crisis, most likely caused by an increase in "gains trading," or the selective realization of gains.

Consistent with common industry practice, the study finds that conditioning the price-to-book ratio on return on equity significantly improves the valuation accuracy of book value multiples. In contrast, incorporating proxies for growth, earnings quality and risk does not consistently improve out-of-sample predictions.

Two methodological issues relevant for the use of price multiples are the definition of industry group and the measurement of shares. The study finds that, for insurance companies, limiting peers to the same sub-industry (as opposed to using all insurance companies) improves valuation accuracy, and that adjusting with respect to potentially dilutive shares improves earnings-based valuations but not book value-based valuations.

The sample used in the study includes information from all insurance companies available in the intersection of three databases: IBES, CRSP, and COMPUSTAT. Market-related data, such as price, stock returns, shares, and adjustment factors, were extracted from CRSP and Yahoo! Finance (for recent data).

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About Columbia Business School

Led by Dean Glenn Hubbard, the Russell L. Carson Professor of Finance and Economics, Columbia Business School is at the forefront of management education for a rapidly changing world. The school's cutting-edge curriculum bridges academic theory and practice, equipping students with an entrepreneurial mindset to recognize and capture opportunity in a competitive business environment. Beyond academic rigor and teaching excellence, the school offers programs that are designed to give students practical experience making decisions in real0world environments. The school offers MBA and Executive MBA (EMBA) degrees, as well as non-degree Executive Education programs. For more information, visit www.gsb.columbia.edu.



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Study compares the accuracy of valuation methods of insurance companies [ Back to EurekAlert! ] Public release date: 1-Feb-2012
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Contact: Sona Rai
sr2763@columbia.edu
212-854-5955
Columbia Business School

NEW YORK -- A study by Columbia Business School Professor Doron Nissim, Ernst & Young Professor of Accounting & Finance, reveals a better understanding of how investors value insurance companies. Two alternative approaches are typically used when estimating a company's equity value: fundamental valuation and relative valuation. Academic research and teaching tends to emphasize fundamental valuation models, although relative valuation models which typically involve price multiples, or ratios used to compare a company to a group of similar companies are much more common in practice. Unlike most prior studies, this research, forthcoming in the Review of Accounting Studies, examines the impact of industry-specific adjustments on the precision of estimated value relative to stock price.

Although book value multiples tend not to be an accurate measure when valuing non-financial firms, these multiples perform relatively well when valuing insurance companies, the study shows. In fact, over the last decade, book value multiples have performed significantly better than earnings multiples. Contributing factors include the financial nature of the majority of insurance company assets and liabilities, the relatively small size of unrecognized intangibles, and the role of capital-related regulation.

Analysts often exclude Accumulated Other Comprehensive Income (AOCI) from book value, a practice that is unique to the insurance industry. This is usually seen as a way to reduce the volatility of book value and mitigate accounting distortions. However, excluding AOCI tends to worsen, rather than improve, the accuracy of valuation, the study shows. AOCI measures unrecognized economic gains and losses that increase net invested assets, and should therefore be included in book value.

In another surprising finding, the study also showed that excluding realized investment gains and losses from earnings does not improve valuation accuracy. An exception occurred during the recent financial crisis, most likely caused by an increase in "gains trading," or the selective realization of gains.

Consistent with common industry practice, the study finds that conditioning the price-to-book ratio on return on equity significantly improves the valuation accuracy of book value multiples. In contrast, incorporating proxies for growth, earnings quality and risk does not consistently improve out-of-sample predictions.

Two methodological issues relevant for the use of price multiples are the definition of industry group and the measurement of shares. The study finds that, for insurance companies, limiting peers to the same sub-industry (as opposed to using all insurance companies) improves valuation accuracy, and that adjusting with respect to potentially dilutive shares improves earnings-based valuations but not book value-based valuations.

The sample used in the study includes information from all insurance companies available in the intersection of three databases: IBES, CRSP, and COMPUSTAT. Market-related data, such as price, stock returns, shares, and adjustment factors, were extracted from CRSP and Yahoo! Finance (for recent data).

###

About Columbia Business School

Led by Dean Glenn Hubbard, the Russell L. Carson Professor of Finance and Economics, Columbia Business School is at the forefront of management education for a rapidly changing world. The school's cutting-edge curriculum bridges academic theory and practice, equipping students with an entrepreneurial mindset to recognize and capture opportunity in a competitive business environment. Beyond academic rigor and teaching excellence, the school offers programs that are designed to give students practical experience making decisions in real0world environments. The school offers MBA and Executive MBA (EMBA) degrees, as well as non-degree Executive Education programs. For more information, visit www.gsb.columbia.edu.



[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?


AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.


Source: http://www.eurekalert.org/pub_releases/2012-02/cbs-sct020112.php

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World markets rise as investors watch Europe (AP)

BEIJING ? World markets rose Tuesday as traders watched for a possible deal to cut Greece's debts and Japanese factory output rebounded.

Benchmark oil rose above $99 per barrel while the dollar fell against the euro and was unchanged against the yen.

Tokyo's Nikkei 225 rose 0.1 percent to 8,802.51 after data showed December industrial activity rose 4 percent over the previous month. Hong Kong's Hang Seng gained 1.1 percent to 20,383.3 and Seoul's Kospi was up 0.8 percent at 1,955.79.

In Europe, France's CAC-40 added 0.8 percent to 3,292.38, rebounding from a 1.6 percent loss Monday. Germany's DAX gained 0.5 percent to 6,473.96, reversing a 1 percent decline a day earlier. Britain's FTSE 100 rose 0.6 percent to 5,703.94.

Wall Street was also set to open higher, with Dow Jones industrial futures rising 0.4 percent at 12,649 and S&P 500 futures 0.4 percent higher at 1,313.80.

Traders watched Europe following reports Greece and its creditors were close to a deal to cut its debts. Also Monday, European leaders agreed on a new treaty meant to stop overspending and put an end to the region's crippling debt woes.

"Everyone is watching the European summit and how the Greek debt crisis comes out," said Jackson Wong at Tanrich Securities in Hong Kong. "The general atmosphere is to play a wait-and-see game."

China's benchmark Shanghai Composite Index was up 0.3 percent at 2,292.61 ahead of Wednesday's release of a key manufacturing index. Investors are hoping for a loosening of credit curbs if it shows activity is slowing amid lackluster global demand.

India's Sensex gained 1.5 percent to 17,109.30 while Australia's S&P/ASX 200 fell 0.2 percent to 4,262.70. Benchmarks in Taiwan, Thailand, Indonesia and India rose while Singapore and New Zealand fell.

European markets tumbled Monday on concerns Greece's financial problems might not be solved even if creditors agree to cancel part of its debt.

Under a tentative agreement, investors holding 206 billion euros ($272 billion) in Greek bonds would exchange them for bonds with half the face value. The replacement bonds would have a longer maturity and pay a lower interest rate. When the bonds mature, Greece would have to pay its bondholders only 103 billion euros.

Wall Street fell in early trading but Asian investors were encouraged after the Dow Jones industrial average recovered most of its losses to close down just 0.1 percent. The Standard & Poor's 500 lost 0.8 percent.

Borrowing costs for the most indebted European countries shot higher. The two-year interest rate for Portugal's government debt jumped to 21 percent after trading around 14 percent last week.

Portugal may become the next country "where default is a real possibility," said Martin Hennecke of Tyche Group in Hong Kong.

"The euro zone crisis is far from being fixed at all. Italy and Spain are effectively bankrupt as well," Hennecke said. "For Asia, that means there is huge uncertainty in terms of export markets."

The treaty agreed to Monday by all European Union governments except Britain and the Czech Republic includes strict debt brakes and is aimed at making it harder for violators to escape sanctions. The 17 countries in the eurozone hope the tighter rules will restore confidence in their joint currency.

Benchmark oil for March delivery gained 98 cents to $99.76 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 78 cents to end at $98.78 per barrel on the Nymex on Monday.

In currencies, the euro rose to $1.3207 from $1.3114 late Monday in New York. The dollar held steady at 76.25 yen.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20120131/ap_on_re_as/world_markets

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