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Monday, March 11, 2013

Illinois GOP backs off attempt to oust chairman

FILE - In this Nov. 9, 2009 file photo, Illinois Republican Chairman Pat Brady speaks at a news conference in Chicago. On Saturday, March 9, 2013, the Illinois Republican Party?s state central committee will hold a special meeting where they are expected to fire Brady, in large part because he spoke out in favor of a bill to end Illinois? ban on gay marriage. (AP Photo/Nam Y. Huh, File)

In this March 7, 2013 photo, Illinois state Sens. Jason Barickman, R-Bloomington, right, and Jim Oberweis, R-North Aurora, chat on the Senate floor at the Illinois State Capitol in Springfield. On Saturday, March 9, 2013, the Illinois Republican Party?s state central committee will hold a special meeting where they are expected to fire party Chairman Pat Brady, in large part because he spoke out in favor of a bill to end Illinois? ban on gay marriage. And two county-level Republican party committees have passed resolutions against Barickman, the only Republican to vote yes for the bill in the Illinois Senate last month. (AP Photo/Seth Perlman)

CHICAGO (AP) ? The Illinois Republican Party's central committee backed off an attempt to fire party chairman Pat Brady on Saturday, amid concern that ousting him because of his support for gay marriage could damage GOP efforts to appeal to more moderate voters.

Brady became a target of some socially conservative members of the party when he spoke out in favor of a bill before the Legislature earlier this year that would end Illinois' ban on same-sex marriage.

Committeemen had scheduled a Saturday meeting in the Chicago suburb of Tinley Park to consider firing him, but it was canceled late Friday, partly because it became clear there weren't enough votes to remove Brady.

State Sen. Dave Syverson, a committeeman and party treasurer, said the vote would have been close, but members who had concerns about Brady separate from his gay marriage stance "didn't want to be thrown in with those" concerned about it.

"Instead of making a rash decision, we wanted to sit down and say, 'What are our goals and are we reaching them?' Sometimes holding off and giving time to make a rational decision actually works," Syverson, R-Rockford, said.

The conflict recently has spread past the state's boundaries, and prominent Republicans, including U.S. Mark Kirk and state House Republican Leader Tom Cross, warned that firing Brady would be "a mistake." They say if the party is going to grow, it needs to be more inclusive and accepting of differences of opinion ? particularly in the Democratic-leaning state of Illinois.

A spokesman for Kirk, the state's ranking Republican lawmaker, said Saturday the senator was pleased the committee "made the right decision." Kirk voted to end the policy barring gays from openly serving in the military, known as "Don't Ask, Don't Tell," and he opposes a proposed constitutional amendment to ban gay marriage.

"(Kirk) believes it's time to move on and focus on getting Republicans elected in 2014," spokesman Lance Trover said.

Brady, who also had the support of former Illinois GOP governors Jim Edgar and Jim Thompson, declined to comment.

The Republican Party is trying to regroup after a poor showing at the polls in November, with national leaders vowing to work harder to attract more young, moderate and minority voters who may agree with the party's stance on fiscal matters but who disagree with its views on social issues, such as immigration and gay rights.

Last month, more than 75 prominent Republicans, including seven former governors and advisers to former President George W. Bush, signed a legal brief asking the U.S. Supreme Court to strike down California's ban on same-sex marriage. Former First Lady Laura Bush and former Vice President Dick Cheney also support gay marriage.

But politicians who vote or take public positions that counter more conservative members of their party often face consequences, including primary challenges and defeats.

State Sen. Jason Barickman was the lone Republican to vote for the gay marriage bill when the Illinois Senate passed it last month. The House hasn't voted on it yet. Barickman faced criticism from county GOP officials back home, and was the target of automated phone calls to his constituents by an organization that opposes gay marriage.

State Sen. Jim Oberweis, one of the committeemen leading the effort to remove Brady, said it was "certainly a possibility" that the issue could come up again at the party's meeting in April in Chicago. Oberweis, of Sugar Grove, said members delayed the meeting because they wanted more time and wanted to be sure Brady, who is out of town, could attend.

"Some of the members thought it would be better to take a little more time and make sure Pat could be back," Oberweis said. "... I think we're all interested in figuring out how to help revive the Republican Party in Illinois."

Oberweis said gay marriage isn't the only reason he wants Brady gone; he also blames Brady for the party's poor November election results and for working against some Republicans in primary elections.

"I believe that the Republican Party identity has to be on financial sanity, solving some of our fiscal mess," said Oberweis, a dairy magnate. "This other stuff is a diversion from that."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2013-03-09-Gay%20Marriage-Illinois%20Republicans/id-418a33a196be4c7db1bc8c4eb22872cb

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Comet Pan-STARRS is closest to Sun today: See it at sunset

Luis Argerich/Nightscape Photography

Astrophotographer Luis Argerich of Buenos Aires, Argentina, took this photo of Comet Pan-STARRS taken on March 2, 2013. He writes: "Comet Pan-STARRS was visible from about 8:15 pm to 9 pm above the western horizon."

By Tariq Malik, Space.com

A?comet sailing through the inner solar system make its closest approach to the sun and will be at its brightest at sunset tonight, but the glare of twilight may make it tricky to see, NASA says.

The?Comet Pan-STARRS?will be 28 million miles (45 million kilometers) from the surface of the sun when it swings around the star today, and should be bright enough to see without the aid of telescopes or binoculars, weather permitting. But the comet is also appearing low on the western horizon at sunset so some planning is needed to spot the celestial wanderer with the naked eye tonight.

"Look too early and the sky will be too bright," said Rachel Stevenson, a NASA Postdoctoral Fellow at the agency's Jet Propulsion Laboratory in Pasadena, Calif. "Look too late, the comet will be too low and obstructed by the horizon. This comet has a relatively small window."

Science@NASA

The progression of comet Pan-STARRS across the night sky in March 2013 is shown in this NASA graphic.

A good time to look is about 40 minutes after sunset. The comet may appear as a sort of exclamation point in the evening sky, with the point being the comet itself and its diffuse tail stretching nearly straight up from the horizon, JPL officials added. [How to see the comet]

Comet Pan-STARRS, officially known as comet C/2011 L4 Pan-STARRS, was discovered in June 2011 by astronomers using the Panoramic Survey Telescope and Rapid Response System (or PAN-STARRS), a telescope atop the Haleakala volcano in Hawaii. The comet takes more than 100 million years to orbit the sun and appears to come from the Oort cloud, a vast halo of comets and icy objects at the outer edge of the solar system.

While the comet is making its closest pass by the sun tonight, the best views of the object are still to come. NASA scientists said the comet's proximity to the sun may make it too difficult to spot tonight, but that will change over the next few days.

"As it continues its nightly trek across the sky, the comet may get lost in the sun's glare but should return and be visible to the naked eye by March 12," JPL officials explained. "As time marches on in the month of March, the comet will begin to fade away slowly, becoming difficult to view (even with binoculars or?small telescopes) by month's end."

Astronomy Education Services / Gingin Observatory

Close-up of comet C/2011 L4 PANSTARRS as seen from Mount Dale, Western Australia.

And there is another reason to look for comet Pan-STARRS later this week. On Tuesday (March 12), the moon rises into the cosmic display.

"The comet will be joined in the western sky after dark by the slender crescent moon on March 12, 13, and 14," the editors of StarDate Magazine, a stargazing publication of the McDonald Observatory at the University of Texas. "Good naked-eye views of the comet should continue for several nights, with the comet remaining visible through binoculars into April."

Comet Pan-STARRS is one of three?comets?capturing the attention of stargazers this year. The Comet Lemmon C/2012 F6 is currently visible to observers in the Southern Hemisphere and at times was in the night sky at the same time, allowing stargazers to capture?rare photos of two comets in the sky together.

Meanwhile, the Comet ISON is making its way into the inner solar system and could put on a spectacular cosmic display later this year. Officially designated C/2012 S1 (ISON), Comet ISON was discovered in September 2012 by Russian amateur astronomers Vitali Nevski and Artyom Novichonok using a remotely operated International Scientific Optical Network (ISON) telescope.

Some astronomers have billed?Comet ISON?as a potential "comet of the century" since it could be brighter than the full moon in daylight when it makes its closest approach to the sun on Nov. 28. At that time, Comet ISON will be much closer to the sun than Comet Pan-STARRS is now. ISON will approach within 800,000 miles (1.2 million km) of the star, making it a true sungrazing comet.

StarDate Magazine

The location of Comet Pan-STARRS low in the western horizon in March 2013 is shown in this sky map released by StarDate Magazine, a publication of the McDonald Observatory at the University of Texas.

Editor's note:?If you snap an amazing photo of Comet Pan-STARRS, or any other celestial object, and you'd like to share it for a possible story or image gallery, please send images and comments, including location information, to managing editor Tariq Malik at?spacephotos@space.com.

Email Tariq Malik at tmalik@space.com or follow him?@tariqjmalik?and?Google+. Follow us?@Spacedotcom,?Facebook?and?Google+. Original article on?SPACE.com.

Source: http://science.nbcnews.com/_news/2013/03/10/17258886-comet-pan-starrs-is-closest-to-sun-today-see-it-at-sunset?lite

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Goldman leads decline as Wall Street commodity revenues drop

By David Sheppard

NEW YORK (Reuters) - Commodity revenues at leading Wall Street firms crashed last year to their lowest on record, as tighter regulation and limited price swings squeezed the once dominant traders of Goldman Sachs Group Inc , JPMorgan Chase & Co and Morgan Stanley .

All three firms reported double-digit percentage declines in revenues for oil, grains and copper trading in 2012, illustrating how the one-time 'Wall Street Refiners' have withered in the face of subdued markets and restrictions on proprietary trading.

The decline is most stark at Goldman, where commodity revenues collapsed by more than 60 percent year-on-year in 2012 to just $575 million, according to the bank's annual report.

Long considered the top commodity bank on Wall Street for its expertise in both physical and financial markets, Goldman's revenues have now fallen by almost 90 percent since 2009 when they totaled more than $4.5 billion.

Morgan Stanley, Goldman's fellow Wall Street pioneer in commodity markets three decades ago, reported a 20 percent decline in commodity revenues in 2012.

JPMorgan, which has grown its commodity business through a series of bold acquisitions since the 2008 financial crisis and now surpasses both Goldman and Morgan Stanley, saw revenues decline 16 percent to $2.4 billion.

Spokespeople for the banks, who have regularly declined to discuss their commodity results since they began revealing them in filings in 2009, were not immediately available to comment.

In total, Wall Street's commodity revenues have fallen more than 50 percent since 2008 to just $6 billion, according to a survey by London-based research firm Coalition.

Last year commodities made up just 6.5 percent of revenues from trading fixed income, currencies and commodities (FICC), Coalition said, down from 10.5 percent last year and 30 percent in 2008.

"Ongoing concerns about increased regulation and capital sensitivity (are) pushing banks to re-evaluate their commodities strategies," Coalition said in a report.

TIGHTENING REGULATION

The latest results pose questions about how the banks' may adapt in the commodities sector, which was estimated to be worth as much as $14 billion to Wall Street annually at its peak.

Following Goldman and Morgan Stanley's lead, the boom in resource markets that started 10 years ago attracted many big banks to trade oil, metals and agricultural products, but many have struggled since the financial crisis.

The Volcker rule has placed restrictions on trading positions held purely for the banks' own profits as part of the Dodd-Frank Act. Lower market volatility has also cut into clients' trading and hedging activities.

While Brent crude oil averaged a record $112 a barrel in 2012, that was just $1 more than the average price in the previous year.

Wall Street's continued ownership of physical commodity assets, including power plants, oil storage tanks and metals warehouses, is also still under question after the conversion of Goldman and Morgan Stanley to Bank Holding Companies during the financial crisis.

Late last year, Morgan Stanley held discussions about selling part of its commodities business to the Qatari sovereign wealth fund, though that deal appears to be on hold.

Based on Reuters' calculations, revenues at Morgan Stanley's commodity business peaked at around $3 billion in 2008, but have since declined to just over $1 billion last year.

In October, Goldman Sachs denied it had ever "seriously" looked at splitting off its commodities business, after reports said it had held "preliminary internal discussions" about a possible spin-off.

At JPMorgan, which is a relatively late entrant to large-scale commodity trading following its acquisition of RBS Sempra's metals and energy trading desks in 2010, the 16 percent decline may create concern rather than panic.

Global commodity chief Blythe Masters has largely succeeded in her goal of surpassing Goldman and Morgan Stanley as the largest bank in commodities, though industry experts say JPMorgan may now start to focus more on costs to boost profitability.

The bank said last year it has 600 professionals in its commodity division, and 10 offices globally. (Reporting By David Sheppard; Editing by Daniel Magnowski and Bob Burgdorfer)

Source: http://news.yahoo.com/goldman-leads-decline-wall-street-commodity-revenues-drop-170306938--sector.html

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The economy is not the stock market

There is zero correlation between economic growth and stock market returns, Brown writes. They head in the same direction over time, but the stock market and the economy are only loosely related.

By Joshua M. Brown,?Guest blogger / March 11, 2013

Specialist Meric Greenbaum works at his post on the floor of the New York Stock Exchange. The economic story doesn't always "confirm" the stock market activity you see before your eyes, Brown writes.

Richard Drew/AP/File

Enlarge

I had an on-air debate with CNBC's Steve Leisman the other day about why investors and traders shouldn't fuss too much over economic data (unless they're trading based on it each day).

Skip to next paragraph Joshua M. Brown

Joshua has been managing money for high net worth clients, charitable foundations, corporations and retirement plans for more than a decade.

Things to Know about Loan Sharks - Fathead & Braindead's Saloon

There are instances when you are out of budget and you are facing a dilemma of finding an alternative source for you to be able to pay your overdue bills and this is a common scenario not only in America, UK, and Asia but also for the rest of the world. Others may find a friend who can lend them money which they need with no additional interests. But for those who were unable to find an alternative option, they turn to a group of people who offers such service. If you are one of these people, then you better read on and know more about the facts about people who lends money and that would include their offers, interest rates, the process, advantages and disadvantages. There is a need for you to be well educated about these things before you get yourself into a situation which you may end up regretting and there have been plenty of articles published in sites like Yahoo, Facebook, FAQs and etc. and even on TV talking about them.

loan sharks

One Distinction of A payday group from a money mongrel is the piece of paper which they?re giving out, they unfortunately have a license and they advertise their services through TV ads. This type of shark provides what we call debt confinement. They advertise the services they offer and the most common people drawn to their offers are those who are hopeless which are part of a bigger section of the society may it be in America, Britain, Africa, Korea; therefore; we can safely say that a greater population all over the world are opting for this as a resolution to their monetary dilemmas. They became victims of grifters by offering advance monetary assistance to those in need and even those who have enough tend to participate especially when the holidays are upcoming like Christmas and the prices of goods are hitting a higher mark. The end result would be one debt after another and after another; which then leads to a continuous cycle.

Many people are wondering if availing a payday loan is indeed the short-term answer to their present-day money issues; but some of them did not even care to know what is it really and if they are really dealing with legal and registered people. One needs to know terms like MP, dfw, -wc, and mnt before committing with anyone. take note that each estate is offering different short-term loans that one can avail of; it is just a must that one gets to watch some videos and access some links that will clear stuff for him. Even Twitter can tell us some things about this; just be very careful in your trading and navigation. There are still some illegal people that will really put a strong hold on your economics; instances like this is also happening at Scotland, Europe, Africa, Ireland, and SA?as shown in ITV.

Wonga declared profits of over 46 Million euros at an exorbitant rate of 4,214 percent per annum. This is an alarming rate and considered totally exploitative to consumers. One should consider the facts before delving into what seems to be a quicksand. These lenders should be last resort if not totally excluded from an individual?s consideration .

Source: http://fatheadandbraindeadssaloon.com/things-to-know-about-loan-sharks/

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Fewer apply for tax break for super rich

By Tom Bergin

LONDON (Reuters) - The number of British residents applying for a tax break that can allow them to exclude much of their income from taxation has fallen since the beginning of the financial crisis, official data show.

Britain has become the location of choice for many of Europe's super rich because of a tax break which allows them to be physically resident in the country but "non-domiciled" for tax purposes.

For a fee of 30,000 or 50,000 pounds per year, depending on how long one has been resident in Britain, an individual with foreign ties can apply for "non-domiciled" status and be taxed only on money earned in the UK or brought into the country.

In practice, many super rich people enhance the benefit of this status by keeping even UK assets offshore, by ownership via foreign-registered vehicles.

The number of people availing of the tax break fell to 116,000 in the tax year to April 2011 from 140,000 in 2007-2008, a spokesman for the UK tax authority said.

Jason Collins, Head of Tax at Pinsent Masons, said the figures showed the government's practice of charging for the right to avail of the tax break, introduced in 2008, and the introduction of a 50 percent upper income tax rate in 2010, had made the UK a less attractive location for the rich.

However, the tax authority spokesman said the figures were also impacted by reduced employment in the financial sector and the economic downturn generally.

He noted the number of 'non-doms' was still up compared with the 1997/98 tax year, when 83,000 applied for the break.

Tax campaigners say the non-domiciled system undermines confidence in the whole tax system, putting at risk compliance by ordinary people.

News reports have identified many British people who have used sometimes vague foreign connections to avail of the tax break. Accountants say a foreign-born parent can be enough to claim the status.

Successive governments have backed the system believing that attracting or retaining wealthy individuals generates additional domestic spending and encourages the rich to invest in the UK.

The status is also seen as supporting the City of London's position as Europe's financial capital.

(Reporting by Tom Bergin; Editing by Mark Potter)

Source: http://news.yahoo.com/fewer-apply-uk-tax-break-super-rich-142430012--finance.html

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Friday, March 1, 2013

The Top 9 Social Networks For Business | IMGrind.com

You have a business. Whether that be a brick and mortar local business or an online business, you recognize the importance of being involved with social media. With an overabundance of information on the web covering social media, many business owners can run in circles following the shiny objects of social media.

Ultimately, this leads to burn out, a messed up social profile, segmented messaging ? translation a big steamy pile of social media ambition. To clarify the world of social media, we have located an infographic that does an amazing summary of which social platforms you should use and exactly how you should use them! While you won?t find any surprises in the list with regards to names you have heard of, what you may be interested to read is how to use them!

Twitter

This is the conversation platform. Make sure that you are employing tools to scan the Twitterverse for conversations that include your business or your niche. This will enable you to enter the conversation and be present.

Facebook

Almost everyone has a Facebook account. Make sure that your business has a representative Facebook page and use this powerful platform to build an audience that is tuned into your postings and the items that you share. You WANT to be present on their timeline and you can do this by building your fanbase.

The grand daddy of business networking. This heavy b2b network allows businesses to network with other businesses, colleagues, suppliers, etc. Use this badboy to build business relationships and find customers.

Got a camera? Start taking images of your products and customers to drive traffic to your website. Pinterest has revolutionized traffic driving.

YouTube

Inform your audience about your business. Utilize the 2nd search engine in the world to increase your brand awareness and drive traffic to your main website!

Google+

While first deemed the red headed step child of social media, the Google+ platform is quickly becoming a foundation on which businesses can build an anchor point related to their main website and local listing (if local business).

Instagram

Use Instagram as the icing on your social media cake. Create captivating images using the associated filters and post them on your social channels (Facebook, Google Plus, etc.) Photos are ULTRA important in today?s social space. They can tell a story, make someone laugh, and even inspire. All in all, photos evoke emotion. Figure out a creative way that you can do this and you will win!

Tumblr

Tumblr has a massive audience of content creators and sharer?s (is that even a word?) ? Essentially, you want to use Tumblr as a supplement to your main website. Here you can post your photos and videos as a stand alone platform to engage with your audience and tell your story.

Foursquare

If you have a local store/business, utilize foursquare to reward your customers for checking-in (raising a signal that is shared across social media). Foursquare is quickly becoming the platform to use for local businesses with respect to live interaction with the consumers.

Check out the infographic below from SDLSM2 that gives even more pro tips about social media platforms and how to use them in your business!

Source: http://www.imgrind.com/the-top-9-social-networks-for-business/

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