Brownsville resident wins historic preservation award

A warm Friends and Neighbors salute to our very own Enid Pinkney, who in November was awarded the Peter H. Brink Award for Individual Achievement in Historic Preservation at the National Preservation Conference in Spokane, Wash.

Pinkney, who was selected from among nominees from throughout the United States, said, "I proudly received the award, but I realize that I could not have achieved anything without the help of the community. I owe a debt of gratitude for the various historic preservation projects that the community helped me to promote. I accept the lovely award, which I cherish, on your [the community’s] behalf.”

Pinkney was nominated by Jorge Hernandez, the national vice president of the National Trust for Historic Preservation, and was presented with the award at the event. Hernandez lives in Coral Gables. Pinkney and her husband Frank, live in the Brownsville area.

And speaking of awards...

Tracy Wilson Mourning, founder of Honey Shine Inc., will be the keynote speaker at the annual Thelma Gibson Awards and Installation Luncheon to be at 11:30 a.m. on Jan. 25, at the Biltmore Hotel, 1200 Anastasia Ave. in Coral Gables.

Sponsored by the Women’s Chamber of Commerce, the program will also feature special remarks from Justice Peggy A. Quince of the Supreme Court of Florida. Quince will install the chamber’s new president, Nordis D. Alvarez, and the new board of directors of the organization. Awards will be presented to individuals who have made significant contributions to the advancement of women in the Miami-Dade community.

Mourning will speak from the event’s theme, "Lift as You Climb," and will encourage attendees to reach behind and lend a hand to the women coming up behind on the ladder of success.

Tickets to the event are $65 for members and $75 for guests. For tickets and more information on how to become a sponsor, call Alvarez at 305-982-3328 or email her at: NAlvarez@totalbank.com. You may also go to www.WomensChamberofCommerce.org for more information.

Gold-medal winner

Congratulations are also in order for Asiya Korepanova, a University of Miami Frost School of Music student, who last week was named First Prize Gold Medal Winner in the 2012 Wideman International Piano Competition in Shreveport, La. Korepanova performed Prokofiev’s Concerto No. 2 in G minor, Op. 16.

Korepanova has played the piano since she was 4, and currently studies with Santiago Rodriguez at the Frost School of Music, where she is a keyboard performance major.

For her excellent effort, Korepanova earned a $5,000 in prize money as well as the William Peyton Shehee and Virginia Kilpatrick Shehee Award. As the gold medal winner, Korepanova will have the opportunity to perform at numerous venues around the United States next year, including performances with the Shreveport Symphony Orchestra, the Northwest Florida Symphony and the South Arkansas Symphony Orchestra.

The competition is named in honor of the late Nena Plant Wideman, a former member of the Centenary college faculty and noted piano instructor, who spearheaded the first competition. the competition was named in her honor after her death in 1983.

Art Exhibit

The annual Kuumba Kwanzaa Art Exhibit is now on display in the Amadlozi Gallery at the African Heritage Cultural Arts Center, 2166 NW 62nd St. in Liberty City. It will run through Jan. 21. and is open to the community.

For more information email Gene Tinnie at dinizulu7@gmail.com

Honoring black leaders

The Rev. Eric H. Jones, mayor of West Park, invites the community to the 2013 Gala honoring Broward County’s black elected officials and the Community Service Honorees, to be at 4 p.m. Thursday in the commission chambers of West Park City Hall, 9965 S. State Rd. 7 (441 and Pembroke Road).

The gala will be hosted by West Park Vice Mayor Felicia M. Brunson.

It’s free and reservations are not required. For additional information send an email to: Caroline Rucker at carolineh@aol.com.

Christmas story told through music

The Advent and Christmas season will be ushered in with a little taste of Great Britain, when Our Lady of the Lakes Catholic Church and School at 6600 Miami Lakeway, presents the English classic, "Festival of Nine Lessons and Carols," at 7 p.m. Tuesday in the church sanctuary.

The program is a Christmas service that celebrates the birth of Jesus through nine short readings from the biblical books of Genesis, the prophets, and the gospels, and are combined with music and congregational singing of Christmas songs and carols. The readings tell the story of the "Fall of Humanity", the "Promise of the Messiah", and the "Birth of Jesus."

The church’s Children’s Choir, musicians, dancers, Glee Club and other students will perform with their teachers, church parishioners and the church’s Adult Choir directed by Sister Helene Kloss.

It’s free and open to the community. Call 305-362-5315 for more information or go to, www.oollnet.com.

Read More..

Why does Google build apps for its rival Apple’s iPhone?

Why help a key competitor? Two words: Advertising and data

There isn’t any other way to say it: Apple and Google really don’t like each other. Apple CEO Steve Jobs vowed to destroy the Google geniuses behind the Android operating system for allegedly stealing the basic mechanics of the iPhone. Apple and Google-partner Samsung are constantly at one another’s throats over patents. And most recently new Apple CEO Tim Cook gave two of Google’s most popular products — Google Maps and YouTube — the boot from iOS 6.

Then the unthinkable happened: Fans started turning on Apple. Even the most gushy tech critic had to admit that Apple’s replacement for Google Maps was a train wreck, a rare blight on the company’s otherwise stainless track record (a failure, notes Zara Kessler at Bloomberg, which ironically might ultimately benefit Apple).

Why, then, would Google throw its chief rival a life preserver this week and deliver Google Maps to iOS — as well as handing over Chrome and an awesome new Gmail app in recent weeks? Two main reasons: 

1. Potential advertising: “Google doesn’t make money off of Android which is open source; they make money when people use Google services,” Joel Spolsky, CEO of Stack Overflow, tells Wired. Google Maps on the iPhone doesn’t have ads yet, although the Android version does. In the end, Google’s primary concern is to get its services in front of as many eyeballs as possible — even if those eyeballs are peering into an iPhone.

SEE MORE: Steve Jobs’ mysterious iMac-controlled yacht

2. More data with which to make its products better: Google Maps is every marketer’s dream. Mapping software gives them invaluable consumer data to work with, like the city you live in, the stores you shop at, the restaurants you frequent, where you get your coffee, and much, much more. “Google needs the traffic that iOS users bring,” says Casey Newton at CNET. Those millions of iPhone owners unknowingly feed Google the analytics it needs to make Google Maps the superior, celebrated product it’s become. The same goes for Chrome. And Gmail.  

And “Google is hardly the first company to aggressively support a rival platform for selfish reasons,” says Ryan Tate at Wired. 

Microsoft was a strong backer of Apple’s Macintosh for decades because its core business was selling applications [Word, Excel, etc.], not Microsoft’s competing operating system Windows… Google’s willingness to ship iOS apps could look smarter as time goes on. The company trounces Apple when it comes to all things cloud, not just maps and e-mail; its social network, search engine, and highly optimized data centers could give its iOS apps an even bigger edge in the coming years.

View this article on TheWeek.com Get 4 Free Issues of The Week

Other stories from this topic:

Like on Facebook - Follow on Twitter - Sign-up for Daily Newsletter
Linux/Open Source News Headlines – Yahoo! News

Read More..

Riveting Details Emerge from CT School Rampage

As morning turned to afternoon on Friday, further details continued to emerge from Newtown, CT, a tight-knit community shaken by a massacre at Sandy Hook Elementary School that took the lives of innocent students and teachers, in addition to the gunman, reportedly identified as Adam Lanza.

RELATED: President Fights Tears as He Addresses Nation

As President Barack Obama touched on in his tear-jerking press conference, this is not the first time the nation has witnessed a tragedy of this kind. The recent mass shooting at an Aurora, CO movie theater is just one instance of such violence. Columbine High School and Virginia Tech also resonate as prime examples.

Hollywood's biggest stars were quick to react to the news on Twitter and made an outcry for stricter gun control regulations.

Watch the video for ET's complete coverage of today's biggest headline.

RELATED: Celebs Tweet Reactions to CT School Shooting

Read More..

Cliff-exempt hiring

John Crudele

DEAR JOHN...THE ANSWER MAN

Dear John: The Republicans state that they do not want to increase tax rates on the rich because they do not want to tax job creators. I have an idea for a compromise.

Raise taxes on millionaires but exempt them from increased Subchapter S income, where the corporation employs at least X number of people.

This would encourage companies to increase hiring to that minimum amount as opposed to ObamaCare, which discourages new hires. The Republican argument against increasing taxes would disappear. Of course, real spending cuts would have to be part of the final agreement. What do you think? L.R.

Dear L.R. I asked David Sands, a CPA at the accounting firm Buchbinder Tunick & Co., who said, “Your suggestion has merit and is quite similar to the Jobs Tax Credit, which has taken many forms over the years.

“Perhaps an expanded credit for small-business owners could help. Taking it one step further, there are many incentives which can increase hiring, including expensing of fixed-asset purchases, research-and-development credits, etc.,” added Sands.

There you go! If they pass something like this, you can talk about your contribution to the issue at Christmas parties.

Dear John: I am a 71-year-old retiree. I have a $378,000 mortgage at a 7 percent fixed interest rate for 30 years. I never missed a payment, but today’s rates are about half that.

I also have a $300,000 lien on my home from a bad investment.

I am living off my 401(k) retirement plan and a pension, which is enough to pay off my mortgage but not the lien.

The bank refuses to refinance my mortgage at today’s rate because of the lien and drop in my credit score.

Here’s my question: Is there any way I can get the bank to lower my rate (maybe by suing them) so I can pay my mortgage and pay off the lien with the savings from a lower interest rate?

I spoke to all the lien holders and they are willing to take less than the original amounts of the loans.

It would be a win-win for all. Tony in NJ

Dear Tony in NJ: I guess you could sue. But every bank, of course, has a funhouse full of lawyers with nothing to do. You would have to pay an attorney, and you already have money problems.

I called the mortgage company — Citibank Mortgage — and they are looking into the matter.

The big issue will be whether the bank still holds your mortgage or whether it has been bundled into a security and sold to investors.

If the bank still has it, you’ll have a better chance getting the terms changed. Maybe they can do something if the mortgage was sold.

You have given Citibank permission to discuss this matter with me, so I will monitor it — especially if you remind me sometime in the near future.

I hope this works out.

Send your questions to Dear John, The NY Post, 1211 Ave. of the Americas, NY, NY 10036, or john.crudele@nypost.com.

Read More..

Miami in spotlight at AVCC, other entrepreneurship events

Entrepreneurs from around the world took the stage during this packed week of entrepreneurship events in Miami: Florida International University’s Americas Venture Capital Conference (known as AVCC), HackDay, Wayra’s Global DemoDay and Endeavor’s International Selection Panel.

The events, all part of the first Innovate MIA week, also put the spotlight on Miami as it continues to try to develop into a technology hub for the Americas.

“While I like art, I absolutely love what is happening today... The time has come to become a tech hub in Miami,” said Miami-Dade Mayor Carlos A. Gimenez, who kicked off the venture capital conference on Thursday. He told the audience of 450 investors and entrepreneurs about the county’s $1 million investment in the Launch Pad Tech Accelerator in downtown Miami.

“I have no doubt that this gathering today will produce new ideas and new business ventures that will put our community on a fast track to becoming a center for innovative, tech-driven entrepreneurship,” Gimenez said.

Brad Feld, an early-stage investor and a founder of TechStars, cautioned that won’t happen overnight. Building a startup community can take five, 10, even 15 years, and those leading the effort, who should be entrepreneurs themselves, need to take the long-term view, he told the audience via video. “You can create very powerful entrepreneurial ecosystems in any city... I’ve spent some time in Miami, I think you are off to a great start.”

Throughout the two-day AVCC at the JW Brickell Marriott, as well as the Endeavor and Wayra events, entrepreneurs from around the world pitched their companies, hoping to persuade investors to part with some of their green.

And in some cases, the entrepreneurs could win money, too. During the venture capital conference, 29 companies —including eight from South Florida such as itMD, which connects doctors, patients and imaging facilities to facilitate easy access of records — competed for more than $50,000 in cash and prizes through short “elevator’’ pitches. Each took questions from the judges, then demoed their products or services in the conference “Hot Zone,” a room adjoining the ballroom. Some companies like oLyfe, a platform to organize what people share online, are hoping to raise funds for expansion into Latin America. Others like Ideame, a trilingual crowdfunding platform, were laser focused on pan-Latin American opportunities.

Winning the grand prize of $15,000 in cash and art was Trapezoid Digital Security of Miami, which provides hardware-based security solutions for enterprise and cloud environments. Fotopigeon of Tampa, a photo-sharing and printing service targeting the military and prison niches, scored two prizes.

The conference offered opportunities to hear formal presentations on current trends — among them the surge of start-ups in Brazil; the importance of mobile apps and overheated company valuations — and informal opportunities to connect with fellow entrepreneurs.

Speakers included Gaston Legorburu of SapientNitro, Albert Santalo of CareCloud and Juan Diego Calle of .Co Internet, all South Florida entrepreneurs. Jerry Haar, executive director of FIU’s Pino Global Entrepreneurship Center, which produced the conference with a host of sponsors, said the organizers worked hard to make the conference relevant to both the local and Latin American audience, with panels on funding and recruiting for startups, for instance.

Read More..

Miami photographer sentenced to 10 years in child-porn case

A Miami-area photographer who secretly videotaped children while they changed clothes in his home studio was sentenced in federal court Friday to 10 years in prison.

Diego Tobias Matrajt, 37, pleaded guilty in September to distribution and possession of child pornography.

Last February, Matrajt distributed 10 images of child pornography to an undercover agent by using a peer-to-peer file sharing program, according to court records.

In April, FBI agents did a search of his home and computers, uncovering 26 video images of boys and girls changing clothes alone in a guest bedroom with their genitalia exposed, records show.

Matrajt admitted surreptitiously video recording children under the age of 12 as they changed clothes in the guest bedroom during photo shoots.

Read More..

Riveting Details Emerge from CT School Rampage

As morning turned to afternoon on Friday, further details continued to emerge from Newtown, CT, a tight-knit community shaken by a massacre at Sandy Hook Elementary School that took the lives of innocent students and teachers, in addition to the gunman, reportedly identified as Adam Lanza.

RELATED: President Fights Tears as He Addresses Nation

As President Barack Obama touched on in his tear-jerking press conference, this is not the first time the nation has witnessed a tragedy of this kind. The recent mass shooting at an Aurora, CO movie theater is just one instance of such violence. Columbine High School and Virginia Tech also resonate as prime examples.

Hollywood's biggest stars were quick to react to the news on Twitter and made an outcry for stricter gun control regulations.

Watch the video for ET's complete coverage of today's biggest headline.

RELATED: Celebs Tweet Reactions to CT School Shooting

Read More..

Who’s a turkey now? $outhwest’s ‘fat’ fees

What a bunch of turkeys.

Southwest Airlines, which has long used a “bags fly free” marketing campaign to separate it from rivals who charge a $50 bag fee — and even once ran a campaign stating “Only Turkeys Charge for Bags” — yesterday said there would be more fees to cover the free.

The Dallas-based airline said it would double fees, to $100, for overweight bags — those that tip the scales at more than 50 pounds — or for bags that are longer than 52 inches.

CEO Gary Kelly, in announcing the stepped-up fees at a New York conference, did everything but gobble-gobble the news.

ASSOCIATED PRESS

No free ride: Southwest Airlines, which has long advertised that “bags fly free,” is planning to goose revenues by $1.1 billion in part by boosting fees for overweight bags.

Southwest — facing new wage talks with its employees, who are among the industry’s highest paid — told analysts it expects to boost revenue by $1.1 billion from fee income and other savings in 2013.

Savings include the elimination of 300 workers by attrition and improved handling of schedules and maintenance of jets between flights.

While fliers may feel depressed over higher fees at Southwest, Wall Street loved the $1.1 billion in additional revenues from the higher fees, downsizing and tinkering with operations.

Southwest shares hit a 52-week high of $10.41 in intra-day trading before easing in the afternoon to close at $10.19 a share.

“Some consumers might complain, but it’s unusual to see overweight or oversized baggage anymore,” said aviation analyst George Hobica, president of AirfareWatchdog.com.

Virtually all carriers charge for baggage, and last year the industry collected about $1.4 billion in baggage fees alone.

Other Southwest fee news includes:

* Priority boarding fees rose 25 percent, to $25 per round trip.

* A new fee of $50 to $100 for no-shows on certain booked flights.

tharp@nypost.com

Read More..

Miami in spotlight at AVCC, other entrepreneurship events

Entrepreneurs from around the world took the stage during this packed week of entrepreneurship events in Miami: Florida International University’s Americas Venture Capital Conference (known as AVCC), HackDay, Wayra’s Global DemoDay and Endeavor’s International Selection Panel.

The events, all part of the first Innovate MIA week, also put the spotlight on Miami as it continues to try to develop into a technology hub for the Americas.

“While I like art, I absolutely love what is happening today... The time has come to become a tech hub in Miami,” said Miami-Dade Mayor Carlos A. Gimenez, who kicked off the venture capital conference on Thursday. He told the audience of 450 investors and entrepreneurs about the county’s $1 million investment in the Launch Pad Tech Accelerator in downtown Miami.

“I have no doubt that this gathering today will produce new ideas and new business ventures that will put our community on a fast track to becoming a center for innovative, tech-driven entrepreneurship,” Gimenez said.

Brad Feld, an early-stage investor and a founder of TechStars, cautioned that won’t happen overnight. Building a startup community can take five, 10, even 15 years, and those leading the effort, who should be entrepreneurs themselves, need to take the long-term view, he told the audience via video. “You can create very powerful entrepreneurial ecosystems in any city... I’ve spent some time in Miami, I think you are off to a great start.”

Throughout the two-day AVCC at the JW Brickell Marriott, as well as the Endeavor and Wayra events, entrepreneurs from around the world pitched their companies, hoping to persuade investors to part with some of their green.

And in some cases, the entrepreneurs could win money, too. During the venture capital conference, 29 companies —including eight from South Florida such as itMD, which connects doctors, patients and imaging facilities to facilitate easy access of records — competed for more than $50,000 in cash and prizes through short “elevator’’ pitches. Each took questions from the judges, then demoed their products or services in the conference “Hot Zone,” a room adjoining the ballroom. Some companies like oLyfe, a platform to organize what people share online, are hoping to raise funds for expansion into Latin America. Others like Ideame, a trilingual crowdfunding platform, were laser focused on pan-Latin American opportunities.

Winning the grand prize of $15,000 in cash and art was Trapezoid Digital Security of Miami, which provides hardware-based security solutions for enterprise and cloud environments. Fotopigeon of Tampa, a photo-sharing and printing service targeting the military and prison niches, scored two prizes.

The conference offered opportunities to hear formal presentations on current trends — among them the surge of start-ups in Brazil; the importance of mobile apps and overheated company valuations — and informal opportunities to connect with fellow entrepreneurs.

Speakers included Gaston Legorburu of SapientNitro, Albert Santalo of CareCloud and Juan Diego Calle of .Co Internet, all South Florida entrepreneurs. Jerry Haar, executive director of FIU’s Pino Global Entrepreneurship Center, which produced the conference with a host of sponsors, said the organizers worked hard to make the conference relevant to both the local and Latin American audience, with panels on funding and recruiting for startups, for instance.

Read More..

Clemency board grants full pardon to wrongfully convicted man

TALLAHASSEE --
After a wrongful murder conviction that put him behind bars for 27 years, William Michael Dillon received formal forgiveness from the state Thursday.

Dillon, who was awarded a $1.3 million settlement by the state in March, stood before Gov. Rick Scott and the Cabinet and recounted how far his life has come since he was released from a maximum security prison four years ago, exonerated by DNA evidence.

Clemency hearings, in which elected officials grant pardons and rule on whether to restore civil rights for convicted felons, are usually somber, even tearful. But Dillon’s testimony was upbeat, drawing smiles from an audience of freed felons waiting for their own opportunity to ask for the legal system’s fullest measure of forgiveness.

In Dillon’s case, his civil rights — the ability to sit on a jury, own guns, hold public office and vote — were returned after he was exonerated. But for him, the pardon he was granted Thursday was the real vindication.

“It’s a great, great, great day to be here...” Dillon said, a silver necklace of a soaring bald eagle draped over his blue tie. “Now my life is good, I’m moving on, and I’m definitely going to make a positive impact from here on out.”

Dillon was 21 years old in 1981 when law enforcement officers approached him at a Brevard County gas station to ask him about James Dvorak, who had been beaten to death in a wooded area nearby.

Dillon worked two jobs — as a bowling alley mechanic and construction worker. And he spent his free time chasing pretty girls and trying to figure out what to do with his life. Innocent and unconcerned, he answered officers’ questions.

But the interrogation resulted in an arrest and a deeply flawed investigation that was later discredited.

Dillon’s full pardon Thursday was a foregone conclusion.

Scott apologized on behalf of the state when he signed a claims bill during an emotional March ceremony. Attorney General Pam Bondi, after Thursday’s hearing, said she was pleased to give the pardon.

“I hope he can go on with his life and be a productive citizen,” she said.

Dillon has big plans for the rest of his life, many of them colored by his desire to fix a flawed justice system.

He the focus of a documentary on the Discovery Channel’s I Didn’t Do It, which first aired Monday and is scheduled for another run Sunday.

He’s written 600 pages for a book about his life. And he performs in an all-exoneree band.

He recently joined the board of the Innocence Project of Florida, which advocates for the exoneration of wrongfully convicted inmates.

Read More..

Microsoft plots living room domination with 43 new entertainment apps for Xbox 360

Game consoles are no longer simply for video games, as evidenced by last week’s announcement that the PlayStation 3 is the top Netflix (NFLX) streaming device of the year. Yusuf Mehdi, Microsoft’s (MSFT) chief marketing officer for its Interactive Entertainment Division, said this past March that Xbox 360 owners were spending more hours watching online entertainment than playing online games. And now, in a bid to bolster its efforts to conquer the living room, Microsoft Director of Programming for Xbox Live Larry “Major Nelson” Hyrb announced in a blog post that 43 new entertainment apps (mostly video) will launch between now and spring of 2013 in various regions. Ten new apps including ARTE, CinemaNow, CNET, Karaoke, Maxim, Napster, SkyDrive, SPORT1, VEVO and Zattoo will arrive this week. Microsoft’s full list of upcoming apps follows below.

1. All3M (United Kingdom, United States)
2. Ameba TV (Canada, United States)
3. ARTE (Germany, France)
4. Azteca (Mexico)
5. Canalplay Infinity (France)
6. CBC’s Hockey Night (Canada)
7. CrunchyRoll (Majority of LIVE Regions)
8. Deezer (Majority of LIVE Regions)
9. Eredivisie Live (Netherlands)
10. Fightbox (Austria, Germany, Spain, France, Ireland, Italy, Sweden, United Kingdom)
11. Flixster (United States)
12. GameTrailers (Australia, Canada, Germany, Spain, France, Italy, Japan, Mexico, United Kingdom, United States)
13. Globosat Muu (Brazil)
14. Gulli Replay (France)
15. HBO Nordics (Denmark, Finland, Norway, Sweden)
16. IndieFlix (Australia, Canada, Ireland, New Zealand, United Kingdom, United States)
17. Livesport.tv (Austria, Belgium, Germany, Denmark, Spain, Finland, France, Ireland, Italy, Netherlands, Norway, New Zealand, Sweden, United Kingdom)
18. Machinima (Majority of LIVE Regions)
19. Maxim (United States)
20. MTV (United States)
21. MyTF1 (France)
22. MyTF1VOD (France)
23. Napster (Germany, United Kingdom)
24. Pathe Thuis (Netherlands)
25. PBS (United States)
26. PopcornFlix (United States)
27. Rai TV (Italy)
28. Sainsbury (United Kingdom)
29. Saraiva (Brazil)
30. SBS (Netherlands)
31. SF Anytime (Denmark, Finland, Norway, Sweden)
32. Slacker Radio (Canada, United States)
33. SPORT1 (Austria, Germany)
34. The CW Network (United States)
35. Televisa (Mexico)
36. TV3 (Spain)
37. Viaplay (Denmark, Finland, Norway, Sweden)
38. Vidéo à la Demande d’Orange (France)
39. Vimeo (United States)
40. VIVO Play (Brazil)
41. Watchever (Austria, Germany)
42. Zattoo (Germany)
43. Ziggo (Netherlands)

Get more from BGR.com: Follow us on Twitter, Facebook

Gaming News Headlines – Yahoo! News

Read More..

Anne Hathaway Fashion Time Warp

Anne Hathaway is having quite a year. 

Pics: Anne Hathaway's Stunning 'Les Mis' Premiere Looks

Not only is the 30-year-old beauty receiving major critical acclaim for her Golden Globe-nominated performance in Les Miserables, the newlywed recently underwent a dramatic makeover and now looks better than ever!

Join us as we look back at Anne's best and worst looks of red carpets past.

Read More..

Wynwood co-working center funded by Knight Foundation, angel investors

The LAB Miami announced Thursday it will open a 10,000-square-foot co-working center in Miami’s Wynwood neighborhood and the John S. and James L. Knight Foundation and local angel investors are investing $650,000.

As Miami’s startup community continues to grow, The LAB Miami said its “work-learn campus” will offer an in-house mentor network that will include investors and serial entrepreneurs, said Wifredo Fernandez, co-founder of The LAB Miami with Danny Lafuente and Elisa Rodriguez-Vila.

The LAB Miami, now in a 720-square-foot space in the same neighborhood, turned a Goldman building at 400 NW 26th Street into an artsy, modern space that can support 300 members, including tech startups, programmers, designers, investors, nonprofits, artists and academics.

In addition to offering space to work, the new co-working space plans to offer courses and workshops in business and technology — including a startup school and code school — as well as art, design and education, Fernandez said. It will be a welcoming space for traveling Latin Americans, too. “We want this to be a community center for entrepreneurs,” said Fernandez, explaining that the mix of activities and workshops will be structured by the needs of the LAB’s members.

While the Knight Foundation’s Miami office has sponsored many entrepreneurship events in the past four months, this is the foundation’s largest investment announced so far in its efforts to help accelerate entrepreneurship in Miami, said the Knight Foundation’s Miami program director, Matt Haggman. The Knight Foundation’s Miami office, which made accelerating entrepreneurship one of its key areas of focus this year, is investing $250,000 with the rest of the funding coming from a group of investors lead by Marco Giberti, Faquiry Diaz-Cala, Boris Hirmas Said and Daniel Echavarria.

“This is an important part of our strategy,” said Haggman. “Entrepreneurs need places to gather, connect and learn.”

The LAB Miami has already hosted several events, including HackDay and Wayra DemoDay earlier this week, and the co-working space plans to open for membership in January.

Co-working space will start at $200 a month to use the communal tables, and private offices that will accommodate up to six are also available. The LAB will also offer “Connect” memberships for $40 a month, which allows members who do not need co-working space to participate in events. In addition, there will be phone booths, classrooms, flexible meeting spaces, a lounge area, a kitchen, a “pop-up shop” for local fashion, art or technology products, a shower for those who bike to work and an outside garden with native landscaping.

Read More..

‘Jewish Spirituality’ lecture series to start Dec. 16

Temple Israel of Greater Miami will kick off its Jewish Spirituality Series on Sunday with Rabbi Arthur Green, who was named one of the "top 50 rabbis in America for 2012," by Newsweek Magazine.

Green will speak on the topic, "Spirituality for a New Era."

A highly respected scholar, teacher and expert in the field of contemporary Jewish spirituality, Green is rector of Hebrew College Rabbinical School and professor emeritus at Brandeis University. He also is the author of several books, including Radical Judaism: Rethinking god and Tradition. His most recent book is titled Hasidic Spirituality for a New Era.

The event will start at 9:30 a.m. with a light breakfast followed at 10 a.m. by the program, at which time Green will engage participants in an open conversation about the future and how each person can play a more active role shaping it.

The series will continue on Jan 22, when Nathan Katz, who arranged for the Dalai Lama to come to Miami three times, will speak on "Contemporary Global Spirituality."

According to a press release from the temple, more and more Americans describe themselves as "spiritual but not religious." In his lecture, Katz will focus on the question, "What is spirituality, and can it truly be separated from religion?"

The author of 15 books, including Who Are the Jews of India, a National Jewish Book Award finalist, and his recent memoir, Spiritual Journey Home, Katz is a Florida International University research professor in the School of International and Public Affairs, the Bhagwan Mahavir professor of Jain Studies, academic director of the Jewish Museum of Florida-FIU, and director of the Program in the Study of Spirituality, which is a co-sponsor of the series.

Rabbi Rami Shapiro, an award-wining author, poet, educator and the founding rabbi of Temple Beth Or in Miami, will close out the series on March 1, with the topic, "Amazing Chesed."

According to the press release, many Jews do not believe that grace is a central concept in Judaism, and an essential element in living "Jewishly." Shapiro disagrees and will draw from many facets of Jewish wisdom to answer that question in the affirmative.

Shapiro is recognized as one of the most creative figures in contemporary American Judaism and his prayers are included in worship services across the denominational spectrum of American congregations.

Admission to the series is free and open the public, and will be held in the Wolfson Auditorium at Temple Israel, 137 NE 19th St.

For more information call the temple at 305-573-5900 or email info@templeisrael.net.

New dean

Warm congratulations to the Very Rev. Douglas Wm. McCaleb, who recently was elected the new dean of the Episcopal North Dade Deanery.

McCaleb, the spiritual leader at Trinity Episcopal Cathedral at 464 NE 16th St., was elected at the 43rd Annual Diocesan Convention.

The Diocese of Southeast Florida is composed of six deaneries, divided geographically for both administrative purposes and for representation on the diocese’s Executive Board. McCaleb is the executive head of the deanery, which is responsible for the planning and financial aspects of the deanery, as well as being responsible for the study of the needs and opportunities of the church and to evaluate diocesan programs. In his position of leadership, McCaleb will also delegate the necessary authority and responsibility to carry out such work.

Read More..

Barbara Walters Names Most Fascinating Person of 2012

Who topped the list this year?

Tonight, Barbara Walters crowned General David Petraeus as her Most Fascinating person of 2012.

"David Petraeus was not chosen this year for his war record or his exemplary service to his country," said Walters. "This is about military honor, colliding with sex and lies in the digital age."

The former head of the CIA stepped down in November after an extramarital affair was discovered with his biographer Paula Broadwell.
Petraeus, 60, was also given the number one spot in 2010. 

VIDEO: One Direction on What They Look for in a Girl 

Additionally, the legendary journalist sat down with Argo actor/director Ben Affleck, British-Irish boy band One Direction, Olympic gymnast Gabrielle Douglas, Family Guy creator Seth MacFarlane, 50 Shades of Grey author E.L. James, Secretary of State Hillary Rodham Clinton and New Jersey Gov. Chris Christie.
Prince Harry and Honey Boo Boo were also featured on the list but not interviewed.

This is Walters' 20th season highlighting some of the year's biggest names in entertainment, sports and popular culture.

Read More..

GPS puts brake on taxi scams

Coming soon to a taxi near you: a high-tech GPS system that prevents rate scams by creating an invisible “fence” around the five boroughs.

The Taxi & Limousine Commission is requiring that all new taxi technology — including TV screens and credit-card machines — be outfitted with a system called “geofencing” that prevents drivers from overcharging passengers.

The system uses GPS technology to block drivers from charging a more expensive suburban rate for rides within the city.

Read More..

Lennar to borrow $1.7 billion from Chinese bank

Miami-based Lennar Corp. has gotten approval on $1.7 billion in loans from China Development Bank to fund the development and construction of two major projects in San Francisco, according to a person familiar with the transaction.

The contract, set to close by Dec. 31 subject to various conditions, would mark the first U.S. loan by the big state-owned Chinese bank. One condition — tagged the “Chinese component”— is that China Railway Construction Corp. be included as a general contracting partner in the project, the person said.

Closing by year’s end is crucial because of new tax rules set to take effect, the person added.

The agreement, first reported in The Wall Street Journal, would provide funding for the first six years of what is envisioned to be a 20-year project.

The loan agreement, reached Dec. 7 after Lennar officials met in China with bank officials, provides for $1 billion in financing to a partnership led by Lennar to redevelop Hunters Point Shipyard-Candlestick Point, a site in southeast San Francisco spanning more than 700 acres, the person said. Plans for the mixed-use community call for nearly 12,000 residential units on the site. Construction is expected to begin in the first quarter of 2013.

Under the pact, the Chinese bank would provide another $700 million to a partnership of Lennar, Stockbridge Capital Group and Wilson Meany, a real estate investment and development firm, to redevelop Treasure Island and Yerba Buena Islands in San Francisco Bay. Some 8,000 units of housing are planned for the mixed-use project on 535 acres. The U.S. Navy is set to turn over the first parcel of land to the development company in late 2013.

Read More..

Parents of students at Broward school warned of Legionnaires’ Disease exposure

Parents of students at Olsen Middle School in Dania Beach were being informed on Tuesday that their children may have been exposed to someone diagnosed with Legionnaires’ Disease, Broward School District officials said.

The person with Legionnaires’ Disease was not a student, district spokeswoman Nadine Drew said. They did not say if the infected person was a teacher.

Automated ‘robo-calls’ were made to the telephones of Olsen Middle School parents that explained how the district was working with the Broward Health Department

To read the entire Sun Sentinel story click here.

Read More..

Panasonic may sell Sanyo digital camera business: source

TOKYO (Reuters) – Panasonic Corp may sell its Sanyo digital camera business to Japanese private equity fund Advantage Partners by the end of March, a source familiar with the plan said.

A final decision on the sale will be made by the end of the year, the source said on condition he was not identified.

Advantage Partners will pay several hundreds of millions of yen for the business, which makes digital cameras for other companies, including Olympus Corp, the Nikkei business daily reported earlier.

Panasonic declined to comment saying it had not announced the plan.

The Japanese company aims to sell 110 billion yen ($ 1.34 billion) of assets, including buildings and land by the end of March to boost free cashflow to 200 billion yen for the business year. The company expects an annual net loss of close to $ 10 billion as it writes off billions in deferred tax assets and goodwill.

Panasonic acquired rival Sanyo, a leading maker of lithium ion batteries and solar panels, in 2010. Sales of compact digital cameras are under pressure from increasingly powerful smartphones.

Panasonic’s shares gained as much as 4 percent in early trading in Tokyo, compared with a 0.5 percent rise in the benchmark Nikkei 225 index. ($ 1 = 82.3900 Japanese yen)

(Reporting by Reiji Murai; Writing by Tim Kelly; Editing by Jeremy Laurence)

Gadgets News Headlines – Yahoo! News

Read More..

Hugh Hefner's Fiancee Shows Off Engagement Ring

If the size of the diamond is any indication of Hugh Hefner's love for bride-to-be Crystal Harris, it's a safe bet to say that he's head over heels.

RELATED: Hugh Hefner Gets Marriage License?

Harris revealed her engagement ring on Tuesday, via her Twitter feed.

"My beautiful ring from [Hugh Hefner]," Crystal posted along with photos of the giant sparkler.

The couple is reportedly planning to wed on New Year's Eve.

Read More..

Marissa’smail app makeover

Yahoo! rolled out new versions of its popular Web e-mail yesterday, the first major product make-over since Chief Executive Marissa Mayer took the helm of the struggling Internet company five months ago.

Yahoo! released new versions of its Yahoo! Mail product for smartphones and tablets — in keeping with Mayer’s focus on mobile devices — and a revamped version of its Web-based mail product for PC users.

The new PC version of Yahoo! Mail features fewer ads, primarily by doing away with pass-through Web pages that users previously encountered before they could access their inbox and which also appeared after a user sent an e-mail.

As part of yesterday’s makeover announcement, Yahoo! also unveiled an update to its mobile e-mail app for smartphones that are based on the Android operating system, as well as Yahoo!’s first stand-alone app for the iPhone from apple.

Yahoo! closed yesterday at $19.52, up 0.5 percent.

Read More..

With spam, it’s better not to give or receive

Q. Recently I’ve been unable to send emails from my home email address. In addition, my incoming email contains several notices of undeliverable emails that I didn’t send that are addressed to people I don’t know. I suspect that my computer is infected by some malicious software and is being used to send spam email — and that those that are undeliverable are being returned. What should I do?

Joseph Campbell Burnsville, Minn.

I agree that your PC has been taken over by hackers and is being used to send spam.

The fact that you aren’t able to send emails from your home account supports this theory, since it indicates that your Internet service provider believes you are spamming and has temporarily blocked your ability to send email to anyone.

I suggest you download and run the free version of security program Malwarebytes (go to www.tinyurl.com/cwbd73f and click “free download.”) If that doesn’t work, try Windows System Restore to eliminate recently installed software (see www.tinyurl.com/y9q9apj and www.tinyurl.com/ykgps6.) Then call your Internet service provider; explain what happened and what you’ve done to fix it. If your PC is clean, you’ll be allowed to send email again.Q. I’ve recently received a lot of spam, including some that appear to be from people I know — except that the messages come from the wrong email address. How does a spammer use a familiar name with a fake email address and send it to me?

Also, is there a way to find out the identity of the people who send spam emails? I’ve read that the email address of the sender is not always accurate.

Ginger Bramlett Rockwall, Texas

The bogus email that appeared to be from your friend, but came from the wrong email address, is from a spammer who is trying to trick you into opening the email.

Why did this happen? Your friend’s email may have been hacked and his or her address book stolen, providing the spammer with a host of addresses where an email bearing your friend’s name might be opened by the recipient.

It’s hard to find out who actually sent spam, because originating email addresses are easy to fake.

I suggest you send these emails to your spam filter so that you and others may be spared at least some spam in the future. In addition, your Internet service provider allows you to block spam that comes from a specific domain name — the part of the email address that follows the symbol, such as Yahoo.com. See www.tinyurl.com/cxmq4m7.

Read More..

South Florida pols sticking to party lines on fiscal cliff

WASHINGTON --
Don’t expect South Florida’s congressional delegation to stray too far from party lines when it comes to dancing on the edge of the fiscal cliff, the end-of-the-year spending cuts and tax increases set to take effect if Congress and the president don’t address them.

Democrats are firmly with President Barack Obama, whose proposal seeks to raise $600 billion over a decade by eliminating tax deductions and $960 billion over the same period by raising tax rates for the top 2 percent of income earners. Many Democrats sounded as though the highly charged presidential campaign was still under way.

Republicans are just as committed to their party.

There’s been "no evidence thus far" that Republicans are truly interested in the middle class, said Rep. Debbie Wasserman Schultz, of Weston, who the president just asked again to head the Democratic National Committee.

"We need to continue to focus on rebuilding our economy from the middle class out," she said during an appearance on MSNBC.

"President Obama talked eloquently and passionately during the campaign about making sure that we can get a handle on this deficit, that we can rebuild our economy from the middle class out, that we can focus on creating jobs and getting the economy turned around," she added.

Equally firm: South Florida Democratic Reps. Alcee Hastings, of Miramar and Frederica Wilson, of Miami. Both are members of the Congressional Black Caucus, which released a statement of principles this week calling for the Bush-era tax cuts to expire on the wealthiest Americans.

Social Security should be completely off the table, the caucus warned, and it said it would oppose any plans that change the eligibility for Medicare or cut Medicaid, the statement said.

Some Democrats made conciliatory moves, however. Sen. Bill Nelson said that during his campaign, voters told him they want consensus and an end to partisan gridlock.

"They want bipartisanship," he said in a video message. "They want to stop the ideological rigidity."

It’s the only way to rebuild the economy and reduce the federal deficit, while preserving Social Security and Medicare, he said. He called on people of both political parties "to reach across the aisle and work together so America doesn’t go over the cliff."

That’s unlikely to come from his Republican counterpart, Sen. Marco Rubio, who along with former vice presidential candidate Rep. Paul Ryan of Wisconsin was featured in a speech this week in Washington.

Rubio blamed the "complicated and uncertain tax code" for "hindering the creation of middle-class jobs." He gave no hint he would be interested in supporting the president’s tax proposal on the wealthiest Americans.

"You can’t open or grow a business if your taxes are too high or too uncertain. And that’s why I personally oppose the president’s plan to raise taxes," Rubio said. "This isn’t about a pledge. It isn’t about protecting millionaires and billionaires. For me, it’s about the fact that the tax increases he wants would fail to make even a small dent in the debt but it would hurt middle-class businesses and the people who work for them."

Rep. Ileana Ros-Lehtinen, of Miami, was one of the few Republicans from South Florida to suggest she’d be open to tax reform, saying there needs to be a review of the tax code "to remove special interest tax loopholes used by the wealthy."

But she warned that the country’s debt exists "not because tax rates are too low, but because government spends too much."

Republican Rep. Mario Diaz-Balart, also of Miami, said he was less optimistic about a resolution now than he was right after the election.

He said he feels as though Republicans have moved closer to the president without getting credit for it.

"I’m very disappointed with the president’s response," he said in an interview.

"The speaker put forward a proposal, and whether you agree with it or not, there are a couple of things beyond debate: He’s gotten closer to the president’s position."

Even those on their way out of Congress made no move to cross party lines. Republican Rep. Allen West, of Plantation, who was ousted by Democrat Patrick Murphy, warned constituents in a letter that he didn’t think there was a true plan to reduce spending.

Rep. David Rivera, a Republican who lost his re-election bid and who will be replaced by Democrat Joe Garcia, did not respond to a request for comment.

Read More..

Will and Jaden Smith Survive After Earth

Will Smith and his son Jaden haven't shared the big screen since 2006's The Pursuit of Happyness. Now the father-son duo pair up once more for M. Night Shyamalan's post-apocalyptic thriller After Earth, and we're showing you the new trailer.

RELATED: Will Smith Surprises Jada on The Talk

In the film, opening June 7, 2013, a father and son crash land on a now-abandoned Earth. While the father, General Cypher Raige lies dying after the accident, his 13-year-old son Kitai must play the soldier, searching for the rescue beacon -- their only chance to be saved.

Watch the video for more.

Read More..

Hedging their bets: JPM eyes Dodd-Frank customer $$

Jamie Dimon is betting his bank can profit from catering to hedge funds and asset management firms bracing for a wave of new financial regulations.

The JPMorgan boss placed 26-year veteran Carlos Hernandez in charge of a new investor-services group, part of so-called prime brokerage services, which focuses on hedge funds, pensions, endowments and other financial firms that are facing a number of new rules.

Some of the provisions are set to go into effect as soon as Dec. 31. With deadlines looming, money managers are scrambling to be in compliance.

Reuters

JPMorgan Chase’s Jamie Dimon is adding new muscle in an effort to boost its hedge fund business.

Under the new rules, for instance, asset managers will be forced to post cash or cash equivalents as collateral on so-called over-the-counter derivatives trades.

Demanding that collateral be posted on every trade for hedge funds, insurance companies and other asset managers such as pensions and endowments is a new requirement under the Dodd-Frank financial overhaul law.

The sweeping legislation passed in the wake of the financial meltdown has some money managers griping about rules that they say are much more complicated than they were in the past.

The new edicts are expected to place heavier administrative and financial burdens on these firms, challenging their ability to operate and turn a profit in the new regulatory environment.

That’s where JPMorgan and other custodial banks, including Bank of New York Mellon, have been hoping to step in and forge new client relationships.

“The goal is to help our clients optimize their businesses,” Hernandez told The Post during a telephone interview.

Hernandez, 52, who formerly ran JPMorgan’s equity division, was named in September to run the investor-services unit, which the bank has been attempting to build up.

Such investor-services units may be one of the few growing areas for big banks, which are facing head-count reductions by the thousands in the rapidly changing Wall Street landscape.

mark.decambre@nypost.com

Read More..

AutoNation: Back in the fast lane with expansion, higher sales

Despite an agonizingly slow economic recovery, the country’s largest auto retailer, Fort Lauderdale-based AutoNation, is thriving again as demand for vehicles expands.

The company, one of Florida’s largest, is posting increasingly strong profits and revenues. Just last week, in a sign of confidence, Autonation announced a major acquisition — buying six large auto stores in Texas — that will add about 700 employees to its national payroll of 19,400.

In announcing the deal Tuesday, which is expected to provide AutoNation with $575 million in additional revenues next year, the company’s CEO and chairman, Mike Jackson, expressed optimism about the prospects for continued growth in vehicle sales.

“You want to know what I’m thinking, look at what I do,” Jackson told viewers on CNBC’s Squawk Box program.

No information was released on the cost of the transactions, but in recent years auto dealerships sometimes sold for three to five times revenue, which would represent a significant investment for the company.

Tough times

To be sure, AutoNation has struggled through some tough times. It was battered by the Great Recession, which depressed sales and pushed the company into a $1.2 billion loss four years ago. As sales began to improve in 2010 and 2011, it was blindsided by a shortage of Japanese-made cars last year after the earthquake and tsunami in March 2011 shut down Japanese manufacturers of some essential components.

Since then, however, AutoNation has rebounded. Unit sales, revenues and profits all performed well in the first three quarters of this year, and the company expects new vehicle sales to continue their recovery nationwide, rising to the mid-14 million units this year, up from about 12.7 million in 2011. In the third quarter of 2012, AutoNation’s new car unit sales grew by 21 percent over the same period in 2011, doing better than an estimated 15 percent increase industry wide. November’s sales of new vehicles increased by 21 percent over November 2011 .

The big dealerships acquired sell Audi, Porsche, Volkswagen and Chrysler products in the Houston and Dallas-Fort Worth markets. They are expected to sell 14,000 new and used autos this year, and will add substantially to AutoNation’s future sales.

“We are in the right industry at the right time,” Jackson said during an interview. “The recovery in new vehicle sales is being driven by replacement demand,” added Jackson, who has 42 years of experience in the auto business. “The average age of the light vehicle fleet in the country has increased to 11 years, and even though cars and trucks last longer today, they can’t go on forever. About 12 to 13 million vehicles are scrapped every year and need to be replaced.”

Other factors are contributing to stronger demand for vehicles. “The population is growing, interest rates are low, there is ample credit available and manufacturers are producing a wide range of new models that offer attractive styling, power and greatly improved gas mileage,” said Jackson, who took over as AutoNation’s CEO in 1999. “Auto financing is more available than it has been in recent years. A little known fact is that people are more likely to default on a mortgage than on a vehicle loan.”

Read More..

U-Haul chase suspect appears in Miami-Dade court on Sunday

The suspect arrested in connection with Friday’s chase through the streets of Miami-Dade in a rental U-Haul truck appeared in front of judge Sunday morning.

Darrell Conyers, 45, made his first appearance in bond court.

Conyers faces a number of charges including grand theft, fraud and resisting arrest with violence.

During the hearing, the judge noted that the only charge before her was driving with a suspended license. For that she set bond at $2,000. Conyers will return to bond court at a later time for the additional charges.

Conyers was scheduled to appear in court on Saturday but was unable to do so because he was still in the hospital being treated for injuries he sustained at the end of the chase which apparently started as an attempted robbery at a tool shop on South Dixie Highway.

For 45-minutes the U-Haul truck weaved in and out of city streets, jumping on and off the Palmetto Expressway and headed in different directions along Southwest Eighth Street and Flagler Street.

The chase finally came to an end 12:45 p.m. next to Miami Senior High in Little Havana on Flagler Street and 26th Avenue.

When officers moved in to apprehend the driver, an unidentified Miami-Dade Police officer was injured when he was pinned between the U-Haul truck and a police vehicle. He was transported to Jackson Memorial Hospital where he was treated for a broken leg.

Another Miami officer cut his hand from broken glass. Police say that happened when officers had to break the glass on the U-Haul truck to get the suspect out of it.

Police said Conyers has had previous run-ins with the law and has convictions for firearm violations, fleeing police and carjacking.

Read More..

In giant “garage sale”, Japan’s TV giants hawk $3 billion of assets

TOKYO (Reuters) – Panasonic Corp, Japan‘s struggling maker of Viera brand TVs, owns more than 10 million square meters of office and factory space, dormitories for its workers and sports facilities for its rugby, baseball and women’s athletics teams.

As it battles for Christmas shoppers’ wallets in the year-end holiday season, the sprawling electronics conglomerate is also seeking buyers for some of those properties to trim its fixed costs and improve cashflow at a time of intense competition, particularly from South Korean rivals such as Samsung Electronics Co.

Japan’s other troubled TV makers, Sony Corp and Sharp Corp, are also selling buildings and businesses in a giant ‘garage sale’ that could raise a combined $ 3 billion.

Panasonic plans to raise $ 1.34 billion from offloading property and shares in other Japanese companies by end-March, the group’s chief financial officer Hideaki Kawai told Reuters.

“We have a lot of land and buildings in Japan and overseas,” he said in an interview at the company’s head office in Osaka, in western Japan. He declined to list which properties would go on the block, but said most are in Japan.

Included is a 24-storey central Tokyo block – built in 2003 with more than 47,300 square meters and housing 2,000 Panasonic workers – a source familiar with the plan told Reuters.

Kawai added that Panasonic would raise about a quarter of the sell-off funds by getting rid of shares it owns in other companies – a common practice of cross-shareholdings in Japan.

The proceeds would help bolster free cashflow to 200 billion yen ($ 2.43 billion) for the business year to March, Kawai said, and allow Panasonic to reduce its debt and maintain its crucial research and development effort as it revamps its business portfolio.

It will sell more assets in the year starting in April if cashflow dips below 200 billion yen, Kawai added. Panasonic President Kazuhiro Tsuga has promised to shut or sell businesses operating at below a 5 percent margin. Those sales could start as soon as April.

Panasonic’s fixed assets of $ 21 billion are around 30 percent more than those of Apple Inc, and are almost double the company’s market value. The company, founded almost a century ago as a small electrical extension socket maker, trades at around half its book value – which includes intangible assets such as patents. Sony trades at 39 percent of book, Sharp at 30 percent.

The fixed assets – buildings, land and machinery – of the three companies that were not so long ago a byword for innovation in household gadgetry total around $ 42 billion, while their combined market value is $ 24 billion.

CASHFLOW IS KING

The three firms have been downgraded by credit ratings agencies, making it tougher to raise funding on capital markets, and making asset sales more urgent.

Selling assets “is good in terms of their credit ratings because, for all three, it will lower fixed costs and they can reduce their capex requirements. Eventually, this could improve operating margins and, more importantly, cashflow,” said Alvin Lim, an analyst at Fitch Ratings in Seoul.

Fitch, which makes its ratings without input from company management, last month cut Panasonic to BB and Sony to BB minus, the first time one of the major agencies has relegated either company to junk status. Sharp is ranked B minus, adding to its borrowing costs.

“We rate Panasonic as investment grade, and it should have various funding options. Selling assets it can do without, to avoid raising additional borrowing, can be an option,” said Osamu Kobayashi, an analyst at Standard & Poor’s.

While Korean rivals have also benefited from a weaker local currency, data from the Japan Electronics and Information Technology Industries Association shows that Japanese production of consumer electronic equipment fell to just above $ 15 billion last year from more than $ 19 billion a decade ago. Output in September was just $ 980 million, half last year’s level.

“The gap with Korean makers seems to be widening. It’s going to be very difficult for them to regain their top-tier position,” said Fitch’s Lim.

As the three Japanese firms, all under new leadership, have sketched out restructuring plans, the cost of insuring their debt against defaulting in 5 years has dropped from spikes just a month ago. Credit default swaps for Sharp and Sony are down to levels last seen 3 months ago, while Panasonic’s have dropped 40 percent in the past month.

THREE PATHS

While Panasonic is looking to revamp its business around batteries, auto parts and household appliances, Sony is doubling down on smartphones, gaming and cameras. Sharp, meanwhile, is focusing on display screens and is forging alliances with the likes of Taiwan’s Hon Hai Precision Industry and U.S. chipmaker Qualcomm Inc.

Sony may also take the real estate sale route to raise much-needed cash, with a possible sale of its 37-storey New York headquarters, dubbed by New Yorkers as the ‘Chippendale’ because of its design that is reminiscent of the period English furniture. Selling that jewel could raise $ 1 billion, media have reported.

The maker of Vaio laptops, PlayStation gaming consoles and Bravia TVs may also sell its battery business, which makes lithium ion power packs for tablets, PCs and mobile phones. The company has been approached by investment banks offering to sell the unit, which employs 2,700 people and has three factories in Japan and two overseas assembly plants. Sony values the business’s fixed assets at $ 636 million.

Potential buyers could include BYD Co Ltd, a Chinese carmaker backed by billionaire investor Warren Buffett, and Taiwan’s Hon Hai – which part owns Sharp’s advanced LCD panel plant in Sakai, western Japan, and is in talks to buy TV assembly plants in China, Malaysia and Mexico for $ 667 million, Japan’s Sankei newspaper has reported.

Sharp has mortgaged nearly all its properties to secure a $ 4.6 billion bailout from Japanese banks and so has few assets to offer in a grand garage sale.

Instead, it’s selling part of the garage.

Qualcomm has agreed to buy a 5 percent stake in Sharp, making it the largest shareholder. Hon Hai, which earlier this year agreed to invest in Sharp – before its stock slumped in the wake of record losses – has said it remains interested in taking a stake.

“Whatever they can get to get through this fiscal period by scaling down their operation is a critical step for them to remain afloat,” said Fitch’s Lim.

($ 1 = 82.4700 Japanese yen)

(Additional reporting by Reiji Murai; Editing by Ian Geoghegan)

Tech News Headlines – Yahoo! News

Read More..

Singer Jenni Rivera Feared Dead in Plane Crash

The remains of a private plane carrying singer Jenni Rivera have been found in Mexico with no survivors following a suspected crash. 

Gerardo Ruiz Esparza, Mexico's Secretary of Communications and Transportation, confirmed to The Hollywood Reporter that, on Sunday, officials found the remains of an airplane that was carrying the Mexican-American superstar and her entourage who were traveling from Monterrey to Toluca, Mexico.

Video: Remembering the Tragic Loss of Aaliyah

The small jet had been carrying seven passengers (Rivera included) and lost radio contact with the airport a few minutes after departing in the early hours of the morning following a concert, reports THR.

The singer's father and brother later confirmed to Telemundo that Rivera died in the crash.

With the sad news, Latin artists all over the world took to Twitter to express their heartbreak.

Gloria Estefan mourns, "Our deepest sympathy to the family & fans of @jennirivera & those that accompanied her on what was to be her last voyage. Rest in peace."

Ricky Martin says, "This is sad. A bit in shock. Much peace to your family." (Translated from Spanish)

Eva Longoria writes, "My heart breaks for the loss of Jenni Rivera & everyone on the plane. My prayers go out to her family. We lost a legend today."

William Levy tweets, "My heart goes out to the families. I wish them all the strength in the world." (Translated from Spanish)

Paulina Rubio mourns, "My friend! Why? There is no consolation. God help me!" (Translated from Spanish)

Pitbull writes, "I highly respected #JenniRivera 4 being a gr8 performer but more then tht being real & gr8 example 4 us all que dios la bendiga &may she RIP"

Rivera, 43, was currently a featured coach on The Voice Mexico. A California native, the singer earned several Latin Grammy nominations and recently signed on to star in an American sitcom with ABC titled Jenni.

Read More..

Justice delayed, again

Fort Hood shooter Nidal Malik Hasan is still getting away with murder — this time by the hair on his chinny-chin-chin.

In an absurd turn last week, the military judge in Hasan’s murder trial, Col. Gregory Gross, was removed by a civilian appeals panel because Gross had followed military codes and ordered Hasan, an Army major, to shave.

Hasan was playing the Islamic radical in court — beard and all — but rules are rules, so Col. Gross held him in contempt and ordered that the beard be forcibly removed.

But the Armed Forces Court of Appeals heard Hasan’s cries and sided with the terrorist, yanking Gross and spelling another unacceptable delay in a slow-motion prosecution that has dragged on for three years.

AP

Nidal Malik Hasan

“Should the next military judge find it necessary to address [Hasan’s] beard, such issues should be addressed and litigated anew,” the judges wrote.

That’s ridiculous. The next judge will now have to consider the question again — at the risk of possible removal — guaranteeing even more delays for the trial.

Truth is, Hasan’s beard is an open-and-shut case. It’s in the Army’s rulebook: Beards are forbidden except in cases of medical necessity, and “exceptions or accommodations based on religious practices will not be granted.”

Hasan knew that when he entered the Army. Had he wished to devote himself to a peaceable religious life outside the military, he could’ve retired and grown a beard down to his knees.

But he didn’t.

True, two Sikh doctors recently got permission before joining the Army to keep their beards, as did a rabbi who wished to become a chaplain.

But Hasan never sought permission nor had any interest in growing a beard during his 20 years of service; he began growing one just this year as a courtroom stunt.

And let’s be honest about the man on trial. He murdered 13 people and wounded 29 others on a terroristic shooting spree.

He’s not like the Sikh doctors and the Jewish chaplain who joined the military to heal its members physically and spiritually.

His religion is al Qaeda, his prophet is terrorist cleric Anwar al- Awlaki — and his goal was murder.

No accommodations should be made for him, nor should his prosecution be delayed yet again to accommodate his wishes.

The Defense Department has a duty to mete out swift justice to this killer — it owes that much to those who died on Nov. 5, 2009, and to the rest of the nation as well.

Every day that passes with Hasan still awaiting trial is an injustice and an infamy.

Shave his face.

And start the trial, finally.

Have an opinion on this Post editorial? Send it in to LETTERS@NYPOST.COM!

Read More..

Back in the fast lane: AutoNation expanding again

Despite an agonizingly slow economic recovery, the country’s largest auto retailer, Fort Lauderdale-based AutoNation, is thriving again as demand for vehicles expands.

The company, one of Florida’s largest, is posting increasingly strong profits and revenues. Just last week, in a sign of confidence, Autonation announced a major acquisition — buying six large auto stores in Texas — that will add about 700 employees to its national payroll of 19,400.

In announcing the deal Tuesday, which is expected to provide AutoNation with $575 million in additional revenues next year, the company’s CEO and chairman, Mike Jackson, expressed optimism about the prospects for continued growth in vehicle sales.

“You want to know what I’m thinking, look at what I do,” Jackson told viewers on CNBC’s Squawk Box program.

No information was released on the cost of the transactions, but in recent years auto dealerships sometimes sold for three to five times revenue, which would represent a significant investment for the company.

Tough times

To be sure, AutoNation has struggled through some tough times. It was battered by the Great Recession, which depressed sales and pushed the company into a $1.2 billion loss four years ago. As sales began to improve in 2010 and 2011, it was blindsided by a shortage of Japanese-made cars last year after the earthquake and tsunami in March 2011 shut down Japanese manufacturers of some essential components.

Since then, however, AutoNation has rebounded. Unit sales, revenues and profits all performed well in the first three quarters of this year, and the company expects new vehicle sales to continue their recovery nationwide, rising to the mid-14 million units this year, up from about 12.7 million in 2011. In the third quarter of 2012, AutoNation’s new car unit sales grew by 21 percent over the same period in 2011, doing better than an estimated 15 percent increase industry wide. November’s sales of new vehicles increased by 21 percent over November 2011 .

The big dealerships acquired sell Audi, Porsche, Volkswagen and Chrysler products in the Houston and Dallas-Fort Worth markets. They are expected to sell 14,000 new and used autos this year, and will add substantially to AutoNation’s future sales.

“We are in the right industry at the right time,” Jackson said during an interview. “The recovery in new vehicle sales is being driven by replacement demand,” added Jackson, who has 42 years of experience in the auto business. “The average age of the light vehicle fleet in the country has increased to 11 years, and even though cars and trucks last longer today, they can’t go on forever. About 12 to 13 million vehicles are scrapped every year and need to be replaced.”

Other factors are contributing to stronger demand for vehicles. “The population is growing, interest rates are low, there is ample credit available and manufacturers are producing a wide range of new models that offer attractive styling, power and greatly improved gas mileage,” said Jackson, who took over as AutoNation’s CEO in 1999. “Auto financing is more available than it has been in recent years. A little known fact is that people are more likely to default on a mortgage than on a vehicle loan.”

Read More..