Billionaire hedge fund manager John Paulson has gotten another dose of bad news.
Morgan Stanley Smith Barney is recommending that its financial advisers pull client money out of Paulson’s Advantage and Advantage Plus funds, a person familiar with the matter said yesterday.
Morgan Stanley had been watching Paulson’s performance for months and prepared for this move when it told advisers last spring to stop putting new money into those funds, advisers with the firm have said.
A new start-up accelerator focused on the intersection of healthcare and technology is coming to Miami next year.
Project Lift Miami, designed to help develop young companies and prepare them for investment opportunities, is a partnership between Lift1428, an innovation design, strategy and communications firm; the Miami Innovation Center at the University of Miami Life Science & Technology Park and its developer, Wexford Science + Technology; and the UM Miller School of Medicine, said Robert Chavez, the project’s executive director. “We’re being proactive and trying to support innovative ideas and companies. … We’d like to keep them here and really help to transform the area into a healthcare innovation hub.”
The accelerator will offer entrepreneurial teams a structured 100-day program of classes, workshops and training directed by national and local healthcare experts as well as mentoring and strategic support that will continue well beyond the program, said David McDonald, CEO of Lift1428 and co-founder of Project Lift Miami.
“This meets a critical unmet need in innovation,” said Norma Kenyon, chief innovation officer at UM’s Miller School, explaining that novel ideas often don’t find appropriate mentors and funding until they are pretty far along. “Where do you go if you have a great idea that really could be transformative? This provides much-needed support for these very early-stage technologies.”
Ten to 15 start-ups will be selected for the first class, which will start in May. Each will be offered seed funding — probably $20,000 to $30,000 in cash and services in exchange for a small equity stake — and will get free office space at the research park, Chavez said. The program will run through August, closing with a Demo Day, when entrepreneurs present their businesses to potential investors.
“There’s so much regulation and there are privacy issues and other barriers to entry that are different in the healthcare industry. Having the access to the environment we have here to test your idea and prove your concept is a great advance,” said Chavez, who is also executive director of business intelligence at UM’s Miller School. “That kind of mentoring you won’t get at a general accelerator.”
If Miami’s program goes well, future Project Lift programs could be rolled out at other Wexford science and technology parks across the country, said Bill Hunter, Wexford’s regional director of leasing. “Project Lift is directly aligned with our mission to cultivate innovation in our community. You need investment in those early-stage opportunities.”
Entrepreneurs interested in applying for the inaugural 2013 class can contact Chavez at rchavez@lift1428.com or 305-345-8670, or stop by the Miami Innovation Center at the UM Life Science & Technology Park, 1951 NW Seventh Ave., Suite 300. There is also more information at www.lift1428.com/projectlift.
A Miami-Dade judge admonished the woman accused of killing foster child Rilya Wilson after two brief courtroom outbursts Tuesday.
At the time, Geralyn Graham’s ex-lover, Pamela Graham, was on the stand testifying under cross-examination about why she was cooperating with authorities. The two are not related.
In front of the jury, Geralyn Graham yelled at Pamela Graham to stop lying. A few minutes later, Geralyn Graham again blurted out at the witness that the last time she saw Rilya, she “was in your arms.”
Geralyn Graham, 66, is on trial on charges of murdering the foster child whose disappearance a decade ago roiled the state’s child-welfare agency and led to a series of reforms. Rilya’s body was never found.
Pamela Graham, who was Rilya’s legal guardian, has testified over two days that Geralyn Graham abused Rilya, tying her to a bed and keeping her isolated in a laundry room. She has also cast Geralyn Graham as a dominating, manipulative woman who forced her to lie that a child welfare worker took the child.
During cross-examination by defense attorney Scott Sakin, Pamela Graham admitted the early story she gave to police investigators “was all lies.”
Samsung’s (005930) Galaxy Camera and Nikon’s (NINOY) Coolpix S800c are just the beginning of a swath of Android-powered cameras. Newly leaked images and specs point to Polaroid reviving its camera business with what could be the world’s first Android camera with interchangeable lenses. With no official name yet, the tentatively named IM1836 camera will reportedly feature a 18.1-megapixel sensor, 3.5-inch touchscreen, pop-up flash, Wi-Fi, HDMI and Android 4.0.
[More from BGR: A guide to all the insane predictions made by Google’s new engineering director]
The Galaxy Camera and Coolpix S800c do a fine job taking pictures that are considerably better than what you get from a smartphone, but they still can’t match a mirrorless camera with a good lens. At first glance, Polaroid’s camera looks to be a rebadged Nikon 1 J2, but the resemblance only runs skin deep, as PhotoRumors reports the camera only takes MicroSD cards.
[More from BGR: How not to fix Apple Maps]
Polaroid might not be a major player, but as more companies start incorporating Android into their cameras, there’s going to be a shift in the features consumers expect from them. In the next few years, novelty features such as Wi-Fi, cellular data and photo editing apps will be the norm and we’ll laugh at how we ever lived without them.
This article was originally published by BGR
Wireless News Headlines – Yahoo! News
Angelina Jolie is in final negotiations to direct her second film, Unbroken, based on the story of Louis Zamperini, an Olympian-turned-World War II prisoner of war, according to Deadline.
Video: Angelina Jolie Talks Kids, 'Blood and Honey'
"I was so moved by Louie Zamperini's heroic story, I immediately began to fight for the opportunity to make this film," said The Oscar-winning actress in a statement. "Louie is a true hero and a man of immense humanity, faith and courage. I am deeply honored to have the chance to tell his inspiring story."
Adapted from Seabiscuit author Laura Hillenbrand's Unbroken: A World War II Story of Survival, Resilience and Redemption, the feature film will tell the real-life tale of American Olympic distance runner Louis Zamperini, who was captured and imprisoned by the Japanese Navy during World War II.
Unbroken will be the second film directed by Jolie. The 37-year-old made her debut in 2011's In The Land Of Blood And Honey.
Former CIA boss David Petraeus’ mistress faces no charges in the cyberstalking probe that ended his military and intelligence career, federal prosecutors said yesterday.
The US Attorney’s Office in Tampa, Fla., said it could find no crime in the e-mails, in which Gen. Petraeus’ biographer and lover, Paula Broadwell, anonymously warned Tampa socialite Jill Kelley to “back off” and “stay away from my guy.”
Prosecutors said that after “applying relevant case law to the particular facts of this case,” they decided “not to pursue a federal case regarding the alleged acts of ‘cyberstalking’ involving Paula Broadwell.”
She issued a statement saying she and her family are “pleased with this decision and pleased that this is resolved.”
Broadwell’s lawyer has not been notified that she’s the subject or target of any other federal investigation.
But Broadwell is reportedly still being investigated by the Pentagon for allegedly mishandling classified information she got from Petraeus. Broadwell, an Army reserve officer, had a “substantial amount” of material marked classified at her home, FBI probers found.,
Broadwell and Petraeus say their relationship began after he left the military and started work at the CIA in September 2011.
But they became close years before, as Broadwell was researching her book, “All In: The Education of General David Petraeus,” which was published in January.
Broadwell, 40, and Petraeus, 60, who are both married, say the affair ended over the summer.
But while their romance may have been over, the fallout was yet to come.
Kelley, a socialite who hosted elaborate parties for Petraeus and other officers of the Tampa-based Central Command and got herself named an “honorary consul” for South Korea, was seen by Broadwell as a rival for the general’s affections.
That led Broadwell to send the catty e-mails.
Earlier this year, Kelley, 39, took the e-mails to a pal, Tampa-based FBI Agent Frederick Humphries II, a counterterrorism investigator who helped crack the case of the “Millennium Bomber” at Los Angeles International Airport.
The probe wound on for months before it became public last month.
Asked yesterday whether he thought Petraeus should have resigned, Defense Secretary Leon Panetta said:
“You’ve got to be kidding me. Well, in this town, with that kind of e-mail, do you think he could have survived as director of the CIA? I don’t think so.”
Kelley was banned from the Central Command base in Tampa. She also lost her honorary consul license plates after the South Koreans revoked her diplomatic title.
FBI agents also found hundreds of “flirtatious” e-mails between Kelley and Marine Gen. John Allen, the top commander of US forces in Afghanistan. Allen denies any affair with Kelley.Humphries was reportedly being investigated by the FBI Office of Professional Responsibility for sending Kelly a shirtless picture of himself, interfering with the Petraeus probe, and complaining to a congressman that the probers were “dragging their feet.”
In the portable electronic world, stocking stuffers are easy to find. Here are some for those last-minute holiday gifts on everyone’s list.
• WATER-POWERED CLOCK: Aside from telling time, the eco-friendly Bedol Water Clock is a portable alarm that is also waterproof in the event you feel like standing in a rain storm or showering with it.
It’s battery-free so all you do to keep the clock running indefinitely is just fill it with water.
A natural chemical reaction between two of its internal metallic plates generates enough power to keep it running indefinitely.
Details: www.bedolwhatsnext.com $17
• CHAT OR SCROLL: Logitech’s Apple-friendly Broadcaster Wi-Fi webcam is great for online chatting and its wireless functionality makes it a great companion as a second angled video camera beyond what your computer, iPhone or iPad’s camera will do.
The camera has an internal battery, which is charged via USB for 2 hours of life and has a built-in mono microphone along with a port to add an external mic.
Video is captured in HD 720p and can be moved to any angle since it’s wireless.
Logitech has designed the camera to let users press a button to switch to the camera, giving your chatting partner a different angle.
The Broadcaster ($199.99) works with Mac video applications including QuickTime, Photo Booth, iMovie, Final Cut Pro or chatting with FaceTime, iChat or Skype.
• Logitech also has a few cool high tech-looking Windows 8 friendly mice with the t400 and t620.
The Logitech Zone Touch Mouse t400 ($39) has the functionality of a traditional mouse along with a touch strip to support horizontal and vertical scrolling.
Just click on the top of the touch zone for instant access the Windows 8 Start Screen and clicking on the bottom of the touch zone will scroll you through all your open applications.
The Touch Mouse t620 ($49) features a full touch surface letting you scroll horizontally and vertically from anywhere on the mouse, and to access the Windows 8 start screen you just swipe the edges of the mouse.
Details: www.Logitech.com
• EARBUDS WITH A MIC: iFrogz EarPollution Plugz with Mic noise isolating earbuds are as simple as they get and work just fine.
You get three sizes of ear pieces to get the right fit along with an in-line microphone for cellphone use and most any portable electronic device.
The sound is decent and it makes a great hands-free choice.
Details: www.iFrogz.com $9.99 — in a big selection of colors.
• TRAVEL POWER: Bracketron’s Universal USB Travel Power Kit ($26) includes an Apple 30-pin and Micro USB connections 3-foot cable for charging just about any device on the go.
The cable can be connected to a computer or the included USB AC adapter for 2.1 Amp charging, which includes power hungry tablets.
A 12V car charging USB adapter is also included.
Bracketron’s MetalDock ($18.91) is a contemporary-looking charging dock for the iPhone 4/4S, built with heavy-duty metal construction resulting in a lightweight and portable design.
It connects to any USB port for charging/syncing with its embedded 3-foot cable and works in landscape or portrait modes.
A company representative has emailed me that Dec. 12-17 everything on the Bracketron site is 40 percent off.
Details: www.Bracketron.com
It was a graduation without pomp and circumstance.
There was marching in combat boots. No gowns.
The remarks by Miami-Dade Circuit Judge Beth Bloom were full of the hallmarks common at any graduation. She spoke of goals and achievement and of the opportunity.
But were it not for the “I’m Ready” program, many of Monday’s graduates would not be anticipating their release from jail in a few short weeks.
The 13 young men in “I’m Ready’s’’ inaugural class had already been convicted of some crime and sentenced to boot camp. But each had some medical or psychological problem that made him ineligible.
Take, for example 20-year-old Franklin Robinson. After being sentenced to boot camp after he violated his probation, Robinson underwent several tests, including an EKG that showed there was difficulty pumping blood to his heart. That prevented him from being admitted to boot camp and could have meant him ending up back in jail with the general population.
Instead, he ended up at the six-month “I’m Ready’’ program, which offers youths ages 14-24 education and services. They undergo behavior modification, life skills, job training, counseling and treatment.
The day begins at 5 a.m. A routine of schooling and vocational training in automotive technology or carpentry carries them through until about 8 p.m.
“I’m Ready” participants are housed in a separate unit to accommodate program activities rather than with the general jail population. They are referred to as “students,’’ not “inmates.’’
“There is a reason why boot camp is able to reduce recidivism,” Bloom said. “It sets the tone that they are there to learn.”
It’s not so different from boot camp, said Officer Cathy Harpp, who oversees the program.
“You can’t do pushups, but you can clean the floor and the toilet bowl with a toothbrush,” Harpp said.
The hardest part was getting them to be receptive to change and adapt to the new rules, Harpp said.
“Once they knew I was not going to let up, eventually, they cave in,” she said. “Here, they’re accountable for everything.”
The idea for the program came to Bloom after she oversaw the case of an insulin dependent diabetic with a 10th-grade education.
After he was deemed unfit for boot camp because of his health condition, Bloom wanted to know what would happen to him.
Young offenders like him would have been incarcerated with the general population of inmates, where there would be no access to training and no structure.
“I’ve seen far too many youth return to the criminal justice system,” Bloom said Monday at the program’s first graduation ceremony. “All of you have met your goal. The community needs you to be the different persons that you are.”
The group of 13 will be released Dec. 28. Twenty-two new students will replace them in January.
Before the new graduates students left the room in a final marching formation, Harpp offered one lasting piece of advice: “This is where the difference begins.”
(Reuters) – A U.S. judge on Monday denied Apple Inc‘s request for a permanent injunction against Samsung Electronics‘ smartphones, depriving the iPhone maker of key leverage in the mobile patent wars.
Apple had been awarded $ 1.05 billion in damages in August after a U.S. jury found Samsung had copied critical features of the iPhone and iPad. The Samsung products run on the Android operating system, developed by Google.
Apple and Samsung are going toe-to-toe in a patents dispute that mirrors the struggle for industry supremacy between the two companies, which control more than half of worldwide smartphone sales.
For most of the year, Apple had been successful in its U.S. litigation campaign against Samsung. Apple convinced U.S. District Judge Lucy Koh in San Jose, California to impose two pretrial sales bans against Samsung — one against the Galaxy Tab 10.1, and the other against the Galaxy Nexus phone.
Apple then sought to keep up the pressure after its sweeping jury win. It asked Koh to impose a permanent sales ban against 26 mostly older Samsung phones, though any injunction could potentially have been extended to Samsung’s newer Galaxy products.
Yet the jury exonerated Samsung on the patent used to ban Galaxy Tab 10.1 sales, and Koh rescinded that injunction. Then, in October, a federal appeals court reversed Koh’s ban against the Nexus phone.
In her order late on Monday, Koh cited that appellate ruling as binding legal precedent, ruling that Apple had not presented enough evidence that its patented features drove consumer demand for the entire iPhone.
“The phones at issue in this case contain a broad range of features, only a small fraction of which are covered by Apple’s patents,” Koh wrote.
“Though Apple does have some interest in retaining certain features as exclusive to Apple,” she continued, “it does not follow that entire products must be forever banned from the market because they incorporate, among their myriad features, a few narrow protected functions.”
An Apple spokeswoman declined to comment on Koh’s ruling, and a Samsung representative could not immediately be reached.
In a separate order on Monday, Koh rejected a bid by Samsung for a new trial based on an allegation that the jury foreman was improperly biased in favor of Apple.
The case in U.S. District Court, Northern District of California is Apple Inc. vs. Samsung Electronics Co Ltd et al, 11-1846.
(Reporting by Dan Levine in Oakland, California; Editing by Ron Popeski)
Wireless News Headlines – Yahoo! News
YouTube has just released their top 10 videos of 2012 along with one dazzling video bound to become a viral sensation in its own right.
Watch the clip to see the Rewind YouTube Style video featuring the website's biggest stars acting out a parody of Gangnam Style and Call Me Maybe. The video was shot at the new YouTube Space in Los Angeles, a place for YouTube creators to come learn, collaborate, and create great content to put up on their YouTube channels.
Check out the list of 2012's greatest YouTube moments below:
1) PSY - Gangnam Style: The Korean pop music video that surprised the world is set to hit 1 billion views and has become the most viewed video of all time in just six months.
2) Walk off the Earth: This is the most-viewed cover song of 2012, attracting 140 million views this year.
3) KONY 2012: This video contained a call to action and collected 31 million views in a single day -- the most views ever for a YouTube video.
4) Call Me Maybe - Bieber, Gomez, Pena: This video, covering the song of the summer, kicked off a trend of lip sync videos that spanned from the Harvard baseball team and celebs to Olympians.
5) Epic Rap Battles - Obama vs. Romney: This episode featured well-known Obama impersonator Alphacat, and is one of the better known instances of the 2012 trend of Obama and Romney videos.
6) Dramatic Surprise: This video, featuring a mysterious sign in the middle of a Flemish square, brought in 25 million views in its first week.
7) Why You Asking All Them Questions: Comedian Emmanuel Hudson's popularity exploded this year partly from this video that garnered 39 million views -- almost half of which came from mobile devices.
8) Lindsey Stirling: Lindsey's trademark dubstep violin styles created a lot of buzz this year -- especially in the U.S., Germany and Poland. This video, which was shot by Lindsey's fellow YouTube creator Devin Graham, has over 500,000 likes and 100,000 comments.
9) Facebook Parenting: This video taught us not to mess with Dad. Bringing in 11 million views in one day, this video was the catalyst for an international discussion about parenting and Facebook.
10) Stratos Highlights: This live stream of Felix Baumgartner's free-fall from 128,000 feet shattered previous live stream records with 8 million concurrent views.
Visit youtube.com/rewind for more.
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