Student-Loan Delinquencies Now Surpass Credit ... - Financial Sense

As costs of college soars (with thanks to absurd union salaries and benefits, as well as absurd administrator salaries and benefits), those attending college have increasing trouble paying back loans.

The fully expected consequence is Student-Loan Delinquencies Now Surpass Credit Cards.

The proportion of U.S. student loan balances that are in delinquency ? that is, unpaid for 90 days or more ? surpassed that of credit-card balances in the third quarter for the first time, according to the Federal Reserve Bank of New York. [no link provided]

Of the $956 billion in student-loan debt outstanding as of September, 11 percent was delinquent ? up from less than 9 percent in the second quarter, and higher than the 10.5 percent of credit-card debt, which was delinquent in the third quarter. By comparison, delinquency rates on mortgages, home-equity lines of credit and auto loans stood at 5.9 percent, 4.9 percent, and 4.3 percent respectively as of September.

Since the NY Fed?s data began in 2003, the share of student debt which is delinquent has nearly doubled, from a starting level of 6.13 percent, while credit-card delinquency has steadily drifted lower since peaking at 13.74 percent in mid-2010 in the wake of the financial crisis.

Moreover, the actual rate of student loan delinquency is far higher than the official tally suggests. According to the New York Fed [no link provided], ?these delinquency rates for student loans are likely to understate actual delinquency rates because almost half of these loans are currently in deferment, in grace periods or in forbearance and therefore temporarily not in the repayment cycle.?

In other words, the real delinquency rate for loans in the current repayment cycle is ?roughly twice as high,? per the Fed ? which would put it north of 20 percent.

37.5% of Graduates Work in Jobs Requiring No Degree

In its article Student Loan Debt Hits Another New Record: Study, Senior CNBC Correspondent Scott Cohn cites a study noting these facts.

1. The average college student who graduated in 2011 had $26,600 in student loans
2. Two-thirds of last year?s college graduates had student loan debt
3. 37.8 percent of recent graduates are working in jobs that do not require a college degree
4. State budget cuts, which have led to large tuition increases, fewer grants, and an increasing need for college students and their families to borrow money to finance their education
5. 96 percent of graduates from four-year, for-profit colleges took out student loans, borrowing 45 percent more than graduates of other types of colleges.

Cohn mentioned the word "study" fourteen times without once providing a link to the study, or even mentioning the name of the study. I suspect this is some kind of record, jut not one anyone should be proud of.

Such semi-plagiarism is quite frankly inexcusable.

Who is to Blame?

I receive emails from readers all the time blaming the problem on point number four above, state budget cuts.

Nonsense.

Taxpayers are overburdened too much already. States have cut back on the percentage of money to education out of sheer necessity as education costs have risen far faster than anything else including health care and energy.

Here are some charts and comments from my post What Role Does Government Play in Price Inflation?

Inflation Comparison - Select Components Since 1978

Inflation Comparison - Current CPI Components Since 2000

The above charts are from Doug Short at Advisor Perspectives. Doug creates excellent charts every month on various CPI components. Rather than reinvent the wheel, I asked Doug for a set of custom charts.

Specifically, I had asked Doug to go back to 1971 for both charts.

Unfortunately, data for components in the first chart only goes back to 1978, and in the second chart not even that far.

The reason I asked for a starting year of 1971 is that's when I started college.

Tuition at the University of Illinois in Fall of 1971 was $250 a semester for engineers (My degree is in civil engineering). Current University of Illinois Tuition is $8,278 per semester for Illinois residents, $15,349 for non-residents.

Note that tuition difference: $250 in 1971 vs. $8,278 today.

Note Areas of Highest and Lowest Price Inflation

The least government interference is in apparel and recreation. The most government interference in the free market is education and health care.

Education is rife with "no child left behind" madness, free tuition for veterans, and for-profit school scams that flourish only because student loans cannot be discharged in bankruptcy.

Chasing the American Dream, Gone Bust

I have talked about this many times before. One key post is Trading Caps and Gowns for Mops; Why Go to College If There Are No Jobs? Chasing the American Dream

Some People Do Not Belong in College

Pelletier perpetuates the myth everyone belongs in college. Many don't. Arguably at least half don't. In Portland Oregon, ACT scores show less than half of test-takers are ready for college math

Useless Degrees

Pray tell what good is a degree in English, history, PE, or political science other than teaching English, history, PE, or political science? And how many of those teaching jobs are even available?

Yet colleges churn out thousands of graduates, year after year, with perfectly useless degrees.

Debt Slaves

President Obama promotes education as the answer to the unemployment problem. Other presidents have done the same thing. However, throwing money at the problem has done nothing but raise the cost of education for everyone, leaving many graduates debt-slaves for life, with totally useless degrees.

Whenever government sticks its neck into solutions, costs escalate. We saw it in housing, with hundreds of affordable home programs artificially increasing demand, and with Bush's "Ownership Society" artificially increasing demand, etc., etc. We see the same thing now in health care.

Expect such problem to grow until they blow sky high, which appears to be right at hand.

Mish's Six Point Education Proposal?

1. Increase competition by certifying more online schools
2. Make student debt dischargeable in bankruptcy
3. Abolish the student loan program
4. Abolish Pell Grants
5. Get rid of unions driving up costs
6. End all support for for-profit colleges

I assure you that if those actions were taken cost of college education would crash. But no one really wants that, any more than they want affordable housing.

Politicians gain far too much in campaign contributions from unions, from for-profit schools, and from banks wanting to make kids debt-slaves, to really address the problem.

Legislators would rather pretend they want to do something rather than actually doing something because it suits their purpose (getting reelected). Unfortunately, millions of students will pay the price as debt-slaves for life.

Source: Global Economic Analysis

Source: http://www.financialsense.com/contributors/michael-shedlock/student-loan-delinquencies-surpass

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Transit draft seeks $20 billion from new Minnesota taxes (Star Tribune)

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Appstore continues Amazon's bid for global dominance with expansion into Japan

Move over various European countries -- Japan's the latest region to receive Amazon's Android "Appstore" (no, that isn't a word). The store went live today in Japan, bringing with it all you've come to expect from Amazon's virtual mobile store: Angry Birds, Facebook, and much, much more. Also in-tow is Amazon's "Free App of the Day" initiative, and a variety of unique app selections from Japan-specific developers like Square Enix and NTT Docomo. The Japanese version of the Appstore features the same cross-device functionality found in other regions, meaning one app purchase suffices for all your Android devices. Amazon isn't saying if any major, expected apps are missing from the store, and our Japanese isn't so hot, so we'd appreciate you letting us know if you spot any major whiffs in the selection department.

Filed under: Cellphones, Gaming, Tablets, Software, Mobile, Amazon

Comments

Source: Amazon

Source: http://www.engadget.com/2012/11/28/amazon-appstore-japan/

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No. 1 Indiana rolls past No. 14 N Carolina 83-59

Indiana head coach Tom Crean encourages his team during the first half of an NCAA college basketball game against North Carolina, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

Indiana head coach Tom Crean encourages his team during the first half of an NCAA college basketball game against North Carolina, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

North Carolina's Brice Johnson dunks during the first half of an NCAA college basketball game against Indiana, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

North Carolina's Joel James, bottom, is fouled by Indiana's Christian Watford as he goes up for a shot during the first half of an NCAA college basketball game, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

North Carolina's J.P. Tokoto, right, is defended by Indiana's Maurice Creek during the first half of an NCAA college basketball game, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

North Carolina's Marcus Paige (5) drives to the basket against Indiana's Yogi Ferrell during the first half of an NCAA college basketball game, Tuesday, Nov. 27, 2012, in Bloomington, Ind. (AP Photo/Darron Cummings)

BLOOMINGTON, Ind. (AP) ? No. 1 Indiana had something to prove Tuesday night ? that it could play defense.

Just two days after the Hoosiers put together their best game this season, they delivered an even more impressive performance, getting 20 points from Cody Zeller and 19 each from Will Sheehey and Victor Oladipo, running away from No. 14 North Carolina 83-59 in the ACC-Big Ten Challenge.

"Our guys played great basketball tonight," coach Tom Crean said. "We played against an incredible opponent, everybody understands how great North Carolina is. Our guys had an edge to them tonight, and it was on the defensive end as much as anything else."

The conventional wisdom is that the Hoosiers (7-0) are one of the nation's top scoring teams.

But the detractors have questioned Indiana's willingness to defend and some have even suggested that weakness has allowed No. 2 Duke to close the gap on the nation's top-ranked team.

North Carolina coach Roy Williams disagrees.

"I think they are," he said when asked whether Indiana deserved to be No. 1. "The thing I like about them is they really are a team. They don't have one guy that beats you up, they beat you so many different ways."

Williams and the Tar Heels (5-2) learned that lesson the hard way in Bloomington.

In the second half, the Tar Heels shot just 27.8 percent from the field and went 0 for 5 from 3-point range. They were outscored 12-8 on the fast break, an area that had caused so much concern for Crean that he lost sleep leading up to the game.

"I know people criticize us for our defense, and they say 'If they can't play defense, how good can they really be?'" Oladipo said.

Offensively, the Hoosiers were their usual balanced selves.

Zeller was 8 of 13 from the field with four blocks, one steal and an assist. Oladipo and Sheehey were both 8 of 12 from the field. Senior guard Jordan Hulls was 5 of 8, including three 3-pointers, and finished with 13 points, eight assists and two steals.

"It's cool," Oladipo said when asked about beating a program like North Carolina this handily. "I mean, we've been working really hard and you guys know as well as I know that this program, well not last year, but over the last couple of years was really struggling and we wanted to get it back to where it belongs, which is on top. So to get a win like that, it's a humbling experience."

The best thing about this game for North Carolina may be the end of its run against teams from the Hoosier State.

A week ago, North Carolina trailed by 29 points in the second half before falling 82-71 to two-time national runner-up Butler.

On Tuesday, it was almost an instant replay.

Indiana closed the first half fast, started the second half fast and spent the rest of the game pulling away. The Hoosiers' biggest lead, 83-51, came with 4:22 left in the game.

Dexter Strickland led the Tar Heels with 14 points, Marcus Paige had 11 and James Michael McAdoo had 10 points and nine rebounds for North Carolina, which was missing sophomore guard P.J. Hairston, who stayed home with a sprained left knee.

There was a bigger problem, though. North Carolina couldn't figure out how to contain Zeller, one of this season's favorites to be the national player of the year.

"Boy, I would love to watch them play if it wasn't against my team," Williams said. "You look down the lineup and Cody Zeller, he's family to begin with, he's really a load to handle, and two other guys that I didn't even hear of when they were in high school, they just kicked our rear ends."

The game pitting two of the country's most storied programs ? which have combined for 10 national titles and 3,767 wins ? had been billed as one of this season's showcase events. For 16 minutes, it lived up to the hype.

Zeller changed everything with two flurries.

By setting high picks and drawing post players outside, it opened up the lanes for his cutting and slashing teammates who wasted no time exploiting the holes in the Carolina defense, using a 15-6 run at the end of the first half to take a 46-37 halftime lead.

The Hoosiers were only getting started.

"If you let them dictate and control the pace of the game, they're going to win," Crean said. "So we had to control and dictate the pace of the game, and to do that, we had to run."

But in the second half, the Hoosiers were out to prove something else ? that they could defend.

Over the first 8? minutes, North Carolina managed only three points, the tip-in and a free throw.

Zeller and Oladipo, meanwhile, combined for seven points in the opening 13-0 blitz that put Indiana ahead 59-37, and North Carolina never challenged again as the Hoosiers won their 34th consecutive home game in November against a team that was supposed to cause havoc.

"It's a huge statement," Sheehey said. "We prepared for this game for a couple of weeks now and that's about it. You saw the score. We played hard, we played well, we played together and when we do that, stuff is going to happen."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2012-11-28-T25-N%20Carolina-Indiana%20Folo/id-4190cc1753414693b0c7d00bb2fa9e09

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U.N. rights team to visit Bahrain next week over crackdown

DUBAI (Reuters) - U.N. Human Rights Commissioner Navi Pillay is sending a team of experts to Bahrain next week to discuss how the Gulf state can improve its rights record amid concerns over Manama's decision to revoke the nationality of 31 people and ban public protests.

Bahrain's government invited the four experts to assess the kingdom's need to improve its track record on the issue, the Office of the United Nations High Commissioner for Human Rights (OHCHR) said in a statement late on Friday.

They will focus on the judicial system as well as on accountability for present and past human rights violations and follow up on a preliminary mission that took place last December, it said.

A staunch U.S. ally, Bahrain has come under increasing Western pressure to implement the recommendations of the Bahrain Independent Commission of Inquiry (BICI) for police, judicial and education reform after last year's government crackdown on pro-democracy protests by majority Shi'ite Muslims.

U.S. officials last week voiced concern that Bahrain's failure to implement key reforms suggested by the BICI report was making political dialogue more difficult and widening divisions in society in a way that might benefit Iran.

"The High Commissioner regretted the decision taken by Bahraini authorities on 7 November to revoke the nationality of 31 citizens for 'having undermined state security'," the OHCHR said.

The decision violated the Universal Declaration of Human Rights which prohibits states from arbitrarily depriving people of their nationality, it said.

The men include London-based dissidents Saeed al-Shehabi and Ali Mushaima, the son of jailed opposition leader Hassan Mushaima, as well as clerics, human rights lawyers and activists, according to Mohammed al-Mascati, head of the Bahrain Youth Centre for Human Rights.

The OHCHR said it was also "deeply concerned about the restrictions on public demonstrations and other public gatherings" declared on October 30.

Bahrain had said the ban was a temporary step to ensure public safety and prevent violence.

The ruling Al Khalifa family used martial law and help from Gulf neighbors to put down an uprising against alleged discrimination in March last year, but unrest has since resumed and Shi'ite protesters and police clash almost daily.

Bahrain, where the U.S. Fifth Fleet is based as a bulwark against Iran, accuses Tehran of encouraging the unrest and has promised a tough response as talks with the opposition have stalled. Iran has denied meddling in Bahrain's affairs.

(Reporting by Sami Aboudi; Editing by Andrew Osborn)

Source: http://news.yahoo.com/u-n-rights-team-visit-bahrain-next-week-105426445.html

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Real Estate Marketing Hudson Valley | Advertising, Marketing ...

Congratulations to Regan Developers on Mason?s Ridge in New Windsor, NY

We want to congratulate our client Regan Development on the ribbon cutting of their latest project Mason?s Ridge in New Windsor, NY. Our agency worked closely with their team since the spring of 2012 to create a Real Estate marketing and advertising strategy and design Collateral materials to promote this beautiful Hudson Valley complex. The comprehensive campaign included developing a Brand identity, brochures, social media, Print advertising and sales tools, as well as PR and Media Buying.

Several dignitaries took part in yesterday?s grand opening celebration ? New Windsor Supervisor George Green, State Senator William Larkin, New York State Housing commissioner Darryl C. Towns, and many others.

? It is a pleasure to work with Ken and Larry Regan on this project as well as past projects which have spanned the last. This was a special project because it also included the benefit of the latest green building technologies including solar panels to help offset energy costs,? says Allan J Ross, President and CEO of AJ Ross Creative Media.

The townhome apartment project consists of 84 rental apartments built high on a ridge overlooking the Hudson River and Valley. Conveniently located along Windsor Highway (Route 32), this 84-unit workforce rental development provides easy access to local shopping and all local businesses surrounding Stewart Airport.

All 84 units have separate townhome entrances, including 18 one bedroom, 31 two bedroom and 35 three bedroom apartments, with a mix of duplex and flat style townhomes. The free parking, on-site laundry and large community building allow an ease of living in a beautiful country-like setting.

Source: http://www.ajross.com/blog/index.php/2012/11/real-estate-marketing-services-help-promote-long-time-hudson-valley-client/

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The Thanksgiving-erator Helps You Plan a Thanksgiving Menu

If you're still not sure what you're going to serve on Thanksgiving, give The New York Times' fun menu generator a whirl. Select your menu preferences and receive a menu with recipes of foods that fit your tastes.

You can select a "baconist" menu, for example, for recipes celebrating bacon (quails roasted with bacon, acorn squash stuffed with bacon, brussels sprouts cooked with...bacon). The "colonialist" menu offers options for pottage and pompion (Colonial-speak for squash) as sides. Think anything but turkey is a blasphemy on Thanksgiving? Go for the "purist" menu.

The Thanksgiving-erator | The New York Times via The Kitchn

Source: http://feeds.gawker.com/~r/lifehacker/full/~3/kX57oV3rGgo/the-thanksgiving+erator-helps-you-plan-a-thanksgiving-menu

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Truly hairy mid-life crises: chimps and orangs get them too

By Sharon Begley

NEW YORK | Mon Nov 19, 2012 3:02pm EST

NEW YORK (Reuters) - Forty- and 50-somethings in the throes of a mid-life crisis should probably stop blaming a troubled marriage, their kid's college costs, or technology that makes them feel about as modern as papyrus compared to their younger colleagues.

A new study finds that chimpanzees and orangutans, too, often experience a mid-life crisis, suggesting the causes are inherent in primate biology and not specific to human society.

"We were just stunned" when data on the apes showed a U-shaped curve of happiness, said economist Andrew Oswald of the University of Warwick in England and a co-author of the paper, which was published on Monday in the Proceedings of the National Academy of Sciences of the USA.

The U-shaped curve of human happiness and other aspects of well-being are as thoroughly documented as the reasons for it are controversial. Since 2002 studies in some 50 countries have found that well-being is high in youth, plunges in mid-life and rises in old age. The euphoria of youth comes from unlimited hopes and good health, while the contentment and serenity of the elderly likely reflects "accumulated wisdom and the fact that when you've seen friends and family die, you value what you have," said Oswald.

The reasons for the plunge in well-being in middle age, when suicides and use of anti-depressants both peak, are murkier. In recent years researchers have emphasized sociological and economic factors, from the accountant's recognition that she will never realize her dream of starring on Broadway to the middle manager's fear of being downsized, not to mention failing marriages and financial woes.

In what Oswald, 58, calls "a burst of madness," since no such study had ever been attempted, he and his colleagues decided to see whether creatures that don't have career regrets or underwater mortgages might nevertheless suffer a well-being plunge in middle age.

They enlisted colleagues to assess the well-being of 155 chimps in Japanese zoos, 181 in U.S. and Australian zoos and 172 orangs in zoos in the United States, Canada, Australia and Singapore. Keepers, volunteers, researchers and caretakers who knew the apes well used a four-item questionnaire to assess the level of contentment in the animals, said psychologist Alex Weiss of Scotland's University of Edinburgh. One question, for instance, asked how much pleasure the animals - which ranged from infants to graybeards - get from social interactions.

All three groups of apes experienced mid-life malaise: a U-shaped contentment curve with the nadir at ages 28, 27 and 35, respectively, comparable to human ages of 45 to 50.

Why would chimps and orangs have a mid-life crisis? It could be that their societies are similar enough to the human variety that social, and not only biological, factors are at work, Oswald said. Perhaps apes feel existential despair, too, when they realize they'll never be the alpha male or female.

An evolutionary explanation is even more intriguing. "Maybe nature doesn't want us to be contented in middle age, doesn't want us sitting around contentedly with our feet up in a tree," he said. "Maybe discontent lights a fire under people, causing them to achieve more" for themselves and their family.

"By knowing our results, people might be gentler on themselves" when they experience a mid-life crisis, Oswald said. "Knowing that it's biological, they'll realize that if they can just hang on they'll likely come out the other side."

(Editing by James Dalgleish)

Source: http://feeds.reuters.com/~r/reuters/scienceNews/~3/SLCQWirSPfE/us-science-apes-midlife-idUSBRE8AI10520121119

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Top me up, buttercup! - Love to Dine - Blog

It?s a rare occasion that we go out for a Chinese meal, as although I enjoy Chinese food, it?s not my favourite cuisine, so when I do eat it, I want it to be really good!

A recent Saturday night was one of those rare occasions when we both fancied Chinese, so we decided to visit Pearl of the Orient, upstairs in Mermaid Quay at the Bay. A few years ago, there was a separate Bar Orient downstairs from the venue, but that is long gone, and Bar Orient is now part of the restaurant upstairs.

We were hoping to be able to have a ?banquet? type menu ? I like to try lots of dishes, and don?t have a particular favourite Chinese dish, so it?s good to be able to have a selection ? and besides, I often find the selection of dishes on offer a bit mind boggling. Unfortunately, despite there being quite a few different set menus, they were all for a minimum of four people, so we weren?t able to do what we planned ? which was the first disappointment!

Onwards and upwards, we thought the next best thing would be to have mixed hors d?oeuvres, an intermediate course of crispy aromatic duck and a couple of different main courses, but we then discovered that the smallest quantity of duck available was a half, for the princely sum of ?20! It would have been way too much food for two people, not to mention an extortionate price for what is effectively an additional course.

We eventually decided to opt for the Winter special menu, which offered two courses from a small selection of starters and mains for ?12.90, with duck available for ?5 per person extra.

I chose mixed dim sum to start. These were very hot when they came to the table, which was good, but they were not amongst the best I?ve tried, with the fillings mostly being a bit non-descript ? with the exception of a pork one which was gristly and unpleasant.

Dim Sum

Mr W chose barbecue spare ribs, and these were tasty, not too fatty, not drowning in sauce, and came in a generous portion, so were one of the best dishes of the meal. We had hoped to add some sesame prawn toast to our order, but at ?6 a portion from the a la carte menu, we decided against it!

Spare ribs

The crispy aromatic duck was excellent, tasty and cooked very well, although it could have done with being hotter, as could the pancakes, which although plentiful and not at all stuck together, came in a steam basket without a lid on, so instantly went cold. The cucumber and spring onion definitely looked as if they?d been prepared several hours before and had been hanging around, drying out, for some time. I think we ended up with about a quarter of a duck, so it?s a shame that they don?t offer this quantity on the a la carte, particularly because people having it as part of an a la carte meal would be spending more money than those of us on the set menu ? but there we go!

Crispy Duck

For our mains, we had Szechuan Kung Po chicken, which was tasty, spicy and had plenty of chicken pieces, and pan fried rump steak in Peking sauce (which attracted a ?1 supplement), which was also very tasty. The meat in both dishes seemed to be good quality, and the sauces weren?t gloopy or gelatinous (this often puts me off with takeaway Chinese food!) Both were served with fragrant steamed jasmine rice (we could have chosen different accompaniments for a further supplement) which was disappointingly stuck together and tasteless. Throughout the meal, the food was very good in places, but let down by small things, like the rice, the cold pancakes and the gristly dim sum, hence only 3 stars.

Szechuan Kung Po Chicken

Beef in Peking Sauce

The service throughout our meal was efficient, but brusque to say the least, and the thing that particularly irritated me was one waiter?s insistence on topping up our wine glasses every time he passed our table, to the point that they were at times almost full to the brim. When, just before our main course was served, he managed to fill both of them again and finally empty the bottle, he triumphantly asked ?another bottle?? They?re clearly under instruction to upsell as much as possible on the wine, and whilst I don?t mind friendly, informed recommendations for extra dishes, drinks etc. it was done in a very unhelpful way and would have put me off ordering another bottle of wine even if we?d wanted one!

Ambience was also a little bit lacking. The bar feels more like a waiting area, and I can?t ever imagine going in there just for a drink ? although the cocktails were surprisingly reasonable compared with other venues nearby. I didn?t try one, so I can?t tell you whether the price reflected the quality! Decorative fish tanks around the walls and along the counter seemed almost empty, save for a couple of tiny fish we spotted swimming around forlornly in one, and the place felt a little bit tired.

Now, I know that Chinese food is notoriously expensive when you eat out, and I really don?t mind paying the going rate for good food ? but with a few provisos! The first one is that I don?t want to be restricted from parts of the menu because of being a small party size. I was really disappointed not to have the option to try at least set menu, and would even have paid a supplement because there were only two of us, but this wasn?t possible. For two of us to have a real variety of food, we?d have had to have spent a small fortune and ended up with loads left over. The second is that I expect the service and atmosphere to match up to the price I am paying ? and on this occasion, it didn?t. Even with the menu we ended up choosing from, our meal wasn?t particularly cheap ? and I kind of expected it to be, given we were choosing from a vastly restricted menu. By the time we?d added wine and the various supplements it was ?60 for the two of us, and the quality of the food was good, but not outstanding. I appreciate businesses need to find ways to make money, and a lot of the issues I experienced can be explained by this, but they?re only going to make any money at all if they keep their customers happy, and on this occasion, they didn?t.

Not recommended.

Food: *** Service: ** Ambience: **

Pearl of the Orient, Mermaid Quay, Cardiff CF10 5BZ

www.thepearloftheorient.com

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Analysis: Why Hezbollah is sitting out Gaza conflict

A flurry of violence hit Gaza Tuesday as Israel bombed a Gaza bank and targeted the homes of militants. Hamas responded with more than 100 rockets. NBC's Richard Engel reports.

By Robert Windrem, NBC News senior investigative producer

Mohammed Zaatari / AP file

Hezbollah supporters fix the party's flag on top of their rockets near the southern port city of Tyre, Lebanon, in this July 2007 photo.

Analysis

For a week, Israel and Hamas have engaged in a war in and around Gaza, one in which thousands of rockets and bombs have been expended, scores have died, and tens of thousands have been forced to take cover. But to the north in Lebanon, Hezbollah, the Islamic militia that rained destruction on Israel in a 2006 war, held its fire. Why?

The consensus among U.S. government analysts and academic experts is that Hezbollah, which?has controlled the Lebanese government for more than four years,?believes discretion is the better part of valor. As it has in the past, as in Israel's Cast Lead Operation against Hamas at the end of 2008, Hezbollah decided against creating a diversion that would have helped its like-minded but only sometime ally.

Roger Cressey, NBC News analyst and former deputy counterterrorism director for the National Security Council, notes that Hezbollah is now essentially the government in Lebanon and has different responsibilities, different agendas. "There has never been a correlation between events in Gaza and Hezbollah's strategic decision-making," says Cressey.

That doesn't mean Hezbollah wants to make peace with Israel, just that it's biding its time, and more importantly that, in the words of more than one analyst, "it has no dog in this fight."

---

"Hezbollah is now the party in control of the Lebanese government," Dr. Robert Danin, Council on Foreign Relations senior fellow, told journalists in a conference call Tuesday. "That has a way of moderating one's behavior. If they attacked Israel, they know they would be taking the state of Lebanon to war."

Danin said Israel has made the distinction known to Hezbollah.

So Hezbollah is working off its own timetable, say analysts. The group has several equities it must be concerned about: Its political position in Lebanon, where as noted it is part of the governing party; the stability of one of its biggest protectors, the Assad regime in Damascus; and uncertainty over the political future in Iran, which has been its main protector and weapons supplier.

US seeks ?durable outcome? in Gaza truce talks, Clinton says in Israel

Secretary of State Hillary Clinton is attempting to bring about a ceasefire, or to prevent Israel from invading Gaza while convincing Egypt's president to pressure Hamas to stop firing rockets. NBC's Andrea Mitchell reports.

"Hezbollah's focus is elsewhere," added Danin. "Its relationship with Iran, its relationship with the Assad regime ... Hezbollah is in a very vulnerable position. Without Syria, it would lose its lifeline to Iran."

If a Sunni government emerges in Syria, it would make Hezbollah's control of Lebanon even more complicated, even tenuous.? "It is ironic that with instability in Jordan and trouble in Gaza, Israel's border with Lebanon is its most stable," Danin said.

In short, say analysts, the bar is set high for Hezbollah to get directly involved in the Gazan conflict ... with one exception: Hezbollah might move if it felt its arsenal of more than 40,000 rockets and missiles was threatened.

Both Israel and Hezbollah have to know that the success of the Iron Dome anti-rocket and missile system could, in the long term, dilute the value of that stockpile and could make Israel more confident in pursuing the Lebanese group. ?

Violence continues in Israel and Gaza amid hopes of cease-fire

That is unlikely happen for a while. Danin explained that Iron Dome, which has been so successful in knocking down Hamas rockets, is not designed to take out the long-range rockets and missiles in the Hezbollah arsenal. However, Israel does have a follow-on system, known as Magic Wand, based on the same basic technology, which could be effective against Hezbollah's rockets and missiles. Problem is that it won't be ready until 2015.

"Iron Dome would not have the same kind of effectiveness against Hezbollah's arsenal," added Danin. But that arsenal were used against Israel, "Hezbollah knows it would pay a high price."

Americans tied to Israel caught in the chaos of Gaza conflict

What about unleashing the Islamic Jihad Organization rather than rockets and missiles? "No reason to unleash the IJO in support of events in Gaza," said Cressey. It wouldn't be very effective and "they know they will pay a significant price."

There are other reasons for Hezbollah not to take such risky action, say both Danin and Cressey. As Cressey points out, Hamas is Palestinian, while Hezbollah is Lebanese.? So their missions are different, even if their animosity toward Israel is the same.?

Bottom line on Hezbollah for Cressey: ?They will only take only action if it's in their organization's strategic interest, and events in Gaza do not apply."

Secretary of State Hillary Clinton has undertaken the difficult task of helping to shepherd a possible ceasefire. Egyptian president Mohammed Morsi, meanwhile, is playing a key role as an intermediary with Hamas, a group labeled by the U.S. as a terrorist organization. NBC's Stephanie Gosk reports.

?

More world stories from NBC News:

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Source: http://worldnews.nbcnews.com/_news/2012/11/20/15315678-analysis-why-hezbollah-is-sitting-on-40000-rockets-and-missiles-and-sitting-out-the-gaza-conflict?lite

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Get Samsung's HDTV Black Friday deals today

Featured

2 days

Geoff Morrison , HD Guru

Sizes go up, prices fall.?These are the two hallmark rules of the TV land. Just a few years ago, $800 couldn?t buy you a screen much larger ... Read more

12 hrs.

Gary Merson , HD Guru

If you're interested in Samsung HDTVs,?Black Friday?comes early for you. As predicted by HD Guru, Samsung has lowered its prices on these 19 LED and plasma TVs for its dealers' Black Friday specials, with savings up to 53 percent.

But why don't you have to wait until Friday? Samsung controls the minimum price on most of its HDTVs through a relatively new Unilateral Pricing Program. On Sunday,?in anticipation of Black Friday deals, Samsung lowered its minimum pricing.?Amazon changed prices accordingly, though its brick-and-mortar competitors?haven't yet.?These are the prices most?will charge?when they open their doors Thursday night or Friday morning?for their Black Friday sales, and who knows? Maybe some will drop their prices sooner, in response to Amazon's early move.

As always, remember that this pricing is subject to change, and can be very volatile around Black Friday.?Here's the current?list of sale-price Samsung?TVs:

Samsung UN26EH4000 26-Inch 720p 60Hz LED?
Retail $300 -?Now $227.99

Samsung UN32EH4003 32-Inch 720p 60Hz LED
Retail $420 - Now $247.99

Samsung UN32EH5000 32-Inch 1080p 60Hz LED
Retail?$450 -?Now 327.99

Samsung UN39EH5003 39-Inch 1080p 60Hz LED
Retail $550 -?Now $397.99

Samsung UN40EH6030 40-Inch 1080p 120Hz LED 3-D
Retail $930 -?Now $497.99

Samsung UN46EH5000 46-Inch 1080p 60Hz LED
Retail $980 -?Now $577.99

Samsung UN46EH5300 46-Inch 1080p 60Hz LED
Retail $1,020 -?Now $597.99

Samsung UN50EH5000 50-Inch 1080p 60Hz LED
Retail $1,500 -?Now $697.99

Samsung UN55ES6003 55-Inch 1080p 120Hz LED
Retail $2,000 -?Now $997.99

Samsung PN60E530 60-Inch 1080p 600Hz plasma
Retail $1,650 -?Now $847.99

Samsung UN60ES6003 60-Inch 1080p 120Hz LED
Retail $2,570 -?Now $1,297.99

Samsung UN60ES6100 60-Inch 1080p 240 Clear Motion Rate Slim LED
Retail $2,670 -?Now $1,397.99

Samsung UN46ES7500 46-Inch 1080p 240Hz 3-D Slim LED
Retail $2,280 -?Now $1,497.99

Samsung UN55ES7500 55-Inch 1080p 240Hz 3-D Slim LED
Retail $3,050 - Now $1,997.99

Samsung UN60ES7500 60-Inch 1080p 240Hz 3-D Slim LED
Retail $3,680 -?Now $2,497.99

Samsung PN51E8000 51-Inch 1080p 600Hz Ultra Slim Plasma 3-D
Retail $2,200 -?Now $1,197.99

Samsung UN60ES8000 60-Inch 1080p 240Hz 3-D Slim LED
Retail $4,070 -?Now $2,697.99

Samsung PN51E8000 51-Inch 1080p 600Hz Ultra Slim Plasma 3-D
Retail $2,200 -?Now $1,197.99

Samsung UN60ES8000 60-Inch 1080p 240Hz 3-D Slim LED
Retail $4,070 -?Now $2,697.99

More from HD Guru:

Source: http://www.nbcnews.com/technology/technolog/how-get-samsungs-hdtv-black-friday-deals-today-1C7154883

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Thanksgiving Tips: How to Thaw a Turkey

As you bring out the turkey and gravy in preparation for Thanksgiving, you'll want to make sure you're not also serving your guests microbes that can make them sick.

Food poisoning is a real problem in the United States, where about 48 million people a year get sick from something they ate, Ben Chapman, a food safety expert at North Carolina State University, said in a new video. In about 3,000 cases a year, the illnesses are fatal, Chapman said.

Fortunately, there are plenty of ways to make your Thanksgiving foodborne-illness free. It all starts with thawing the turkey.

There's no 100-percent risk-free way to thaw a turkey, Chapman said, and every method has its own downsides. A thawing turkey in a sink full of cool water might spread Salmonella or other bacteria to the sink. Thawing in a microwave is quick, but heats the turkey unevenly, meaning you'll want to get the bird in the oven right away to kill off any lurking bugs. Leaving a turkey on the counter can be serious trouble, as the outside will thaw before the inside, giving bacteria time to grow. [Video ? Avoid Thanksgiving Food Poisoning]

"You don't want to let bacteria grow on the outside while the inside is very cold," Chapman said.

They key to safe turkey-thawing is to keep the bird from getting warmer than 41 degrees Fahrenheit (5 degrees Celsius) for more than four hours, Chapman said. Thawing in the refrigerator can be safe, but you'll want to plan days in advance, and make sure you have something to catch the turkey's juices as it thaws ? you don't want to contaminate the other food in your fridge.

Those same juices are important to watch out for as you unwrap your thawed or fresh turkey, Chapman added. Use a platter to keep them from getting everywhere, and don't slip and reuse dirty kitchen shears for other projects.

Follow Stephanie Pappas on Twitter @sipappas or LiveScience @livescience. We're also on Facebook & Google+.

Copyright 2012 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://news.yahoo.com/thanksgiving-tips-thaw-turkey-160634511.html

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Broncos pull plug on Chargers

Manning throws for 3 TDs, Miller has 3 sacks as Denver prevails 30-23

Jack Dempsey / AP

Broncos quarterback Peyton Manning hands the ball to running back Ronnie Hillman against the Chargers on Sunday in Denver.

By EDDIE PELLS

AP National Writer

Associated Press Sports

updated 8:20 p.m. ET Nov. 18, 2012

DENVER - Passing by Peyton. Dancing by Von.

On the day Peyton Manning threw three touchdown passes and drew even with John Elway in the career win column, it was Broncos linebacker Von Miller who stole the show ? not only with the three sacks and two forced fumbles that rattled Chargers quarterback Philip Rivers, but with the ever-evolving sack dance he uses to celebrate.

"You've got to show some excitement when you make a play," Miller said after spearheading a 30-23 victory Sunday that gave Denver a three-game lead over San Diego in the AFC West. "It's hard enough as it is out there."

But the Broncos (7-3) are making this look easy.

With their fifth straight win, they now have a three-game lead plus the tiebreaker over the rapidly fading Chargers (4-6), who lost their fifth of six and are now playing as much for jobs ? namely coach Norv Turner's ? as a playoff spot.

"They're not losing four of six, I can guarantee you that," Rivers said of the Broncos, in essence conceding the division race.

Manning tied Elway with 148 career regular-season victories, second place on the all-time list of starting quarterbacks, with Brett Favre still 38 wins ahead.

And Miller? He now leads the league in sacks with 13, after jumping ahead of Texans defensive lineman J.J. Watt, who had one in Houston's win over Jacksonville on Sunday to reach 11 1/2 for the year.

Miller celebrated his first sack with a pair of somersaults, then by getting up and doing jumping jacks with his arms bent at the elbow while he moved to the imaginary music. He said he was inspired by Sonic the Hedgehog, a character in a video game.

His teammates are every bit as impressed with the production as the celebrations.

"That boy works his butt off and plays with a lot of confidence, and I see him doing it for a long time," cornerback Champ Bailey said.

Miller's disruptiveness contributed to what was, overall, a choppy day for both quarterbacks.

Manning threw for 270 yards on 25-for-42 passing but also threw an interception that got returned for a touchdown by Eric Weddle to open the scoring and got sacked in the end zone by Shaun Phillips for a safety.

Even with those struggles, Manning reached 24 touchdown passes for the season and remained on pace for a 4,700-yard year.

"Everybody's got to have an angle on it," Manning said when asked if this win felt more difficult than it should have. "That's not how I see it. We beat a good football team. I kind of throw the records out the window. To score some points, and to settle for some field goals, and you may actually punt, that's part of playing against a good defense. We'll take the win and run with it."

Midway through the third quarter, the Chargers defense had accounted for all their scoring. That's when Rivers picked things up. All but 60 of his 258 yards came after San Diego trailed 24-9 and when Danario Alexander leapt over cornerback Tony Carter for a 21-yard touchdown, the Chargers were within 30-23 with 1:24 left.

The Broncos recovered the onside kick and ran some time off the clock. After a punt, Denver defensive end Elvis Dumervil sacked Rivers to seal the victory and extend a Denver winning streak that started Oct. 15 in San Diego, when Manning rallied Denver from 24-0 down for a 35-24 win. It was the first time a team had trailed by that much and gone on to win by double digits.

In the rematch, Turner's defense held the Chargers close, but the offense and Rivers took too long to get going. San Diego only had two first downs in the first half.

"We were not able to get the run going, we had a tough time protecting and they covered us down the field," Turner said. "So, the combination of those three things makes it difficult."

Overshadowed by Manning's arrival in Denver this year has been the blossoming of the Broncos defense with Miller as the headliner.

Dumervil's late sack gave the Broncos four for the game and 35 for the season. The constant presence of Broncos defenders in the backfield rattled Rivers, who had two touchdowns and two interceptions.

"This is the best defensive team they've had since I've been playing them," said the nine-year veteran.

When Rivers completed a 15-yard pass to Malcom Floyd in the third quarter on third-and-10, it snapped a string of 26 straight holds for the Denver 'D' on third down, dating to the end of a win over Cincinnati two weeks ago. It was the longest streak in the NFL in 10 years.

Miller is putting himself in the conversation for Defensive Player of the Year.

He now has eight sacks over the past four weeks, and joined Reggie White, Jevon Kearse and Dwight Freeney as only the fourth player to record 11 or more sacks in his first two seasons. But the second-year player's favorite player is Derrick Thomas. He wears No. 58 as a tribute to the late Chiefs Hall of Famer, and though Miller shuns comparisons, his teammates know they could be looking at a future superstar.

"He's just getting started. He's crazy. Crazy day for him," Dumervil said.

NOTES: Broncos RB Willis McGahee left with an injured right knee and did not return. ... Playing in his first game after missing the start of the season due to suspension, Broncos LB D.J. Williams finished with four tackles and one for a loss. ... Weddle's interceptions return for a score gave the Chargers defense two touchdowns against Manning this season.

? 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Schaub rallies Texans with 5 TDs

Matt Schaub and Andre Johnson hooked up on a 48-yard touchdown strike with 2:01 left in overtime, and the Texans pulled out a 43-37 win over the Jaguars on Sunday.

Ravens rough up shorthanded Steelers

??Jacoby Jones had a 63-yard punt return for a touchdown and Justin Tucker made two of his three field-goal attempts to give the Baltimore Ravens a 13-10 victory over the Pittsburgh Steelers in their AFC North showdown Sunday night.

Source: http://nbcsports.msnbc.com/id/49879377/ns/sports-nfl/

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Andrew Flintoff is ready to punch after four months without booze ...

Andrew Flintoff is ready to punch after four months without booze ? Boxing News

Former English cricket captain Andrew Flintoff is ready to get in the ring and punch his opponent, since he has sacrificed in the last four months to polish his boxing skills, among which the major sacrifice has been ?no boozing?. Flintoff will be facing American fighter Richard Dawson in his debut match on November 30 in a four round fight in Manchester.

?No Guinness, no red wine, no lager. No walking the dog every night and popping in the local for a pint. I think that is probably one of my biggest sacrifices,? said Flintoff in anew Sky1 documentary that sheds lightonhis cricket career.

Flintoff retired from professional cricket back in 2010. He had retired earlier from Test cricket 2009 and then finally parted ways with his most beloved sport. The reason behind his retiring from cricket was the several injuries he suffered, especially the recurring knee injuries.

The 6ft 4in Briton could not resist the charm of being an athlete and so he decided to enter the world of boxing, which by every means is a fiercer sport than cricket.

?I?m not going to drink for four months ? for four-and-a-half months, in fact. After that, I?ll be really ready to punch someone,? he added.

While Flintoff is confident that he has everything that can make him a pro boxer, others doubt it. Boxing promoter Frank Warren believes Flintoff?s move into boxing is just a TV stunt for publicity. Several other members of the boxing fraternity have criticized Freddie?s decision of being a boxer.

Some have made fun of him while some are doubting if he could ever pass test Dawson. For most analysts, even though Flintoff has the frame and mind of a boxer, he is not used to of taking punches in the ring, which makes him highly prone to knockout losses.

Flintoff has been training for the past four months and now he believes he is ready to give it all. If he wins against Dawson, he will have the chance to go further with his career. If not, he will have to step back and get back to his routine life, probably walking the dog and hitting the local bar.

Source: http://blogs.bettor.com/Andrew-Flintoff-is-ready-to-punch-after-four-months-without-booze-Boxing-News-a202417

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No. 2 Kansas State, Klein upset 52-24 at Baylor

Baylor quarterback Nick Florence (11) gets a late hit while trying to slide on the keeper against Kansas State defensive back Dante Barnett (22) during the first half of an NCAA college football game Saturday, Nov. 17, 2012, in Waco Texas. A penalty against Barnett was called on the play. (AP Photo/LM Otero)

Baylor quarterback Nick Florence (11) gets a late hit while trying to slide on the keeper against Kansas State defensive back Dante Barnett (22) during the first half of an NCAA college football game Saturday, Nov. 17, 2012, in Waco Texas. A penalty against Barnett was called on the play. (AP Photo/LM Otero)

Baylor wide receiver Terrance Williams (2) catches a touchdown pass against Kansas State defensive back Dante Barnett (22) during the first half of an NCAA college football game Saturday, Nov. 17, 2012, in Waco Texas. (AP Photo/LM Otero)

Kansas State quarterback Collin Klein (7) runs on the keeper as teammate offensive linesman Cornelius Lucas (78) tries to block Baylor defensive end Terrance Lloyd (11)during the first half of an NCAA college football game Saturday, Nov. 17, 2012, in Waco Texas. (AP Photo/LM Otero)

Kansas State quarterback Collin Klein (7) celebrates a touchdown pass with teammate wide receiver Torell Miller (88) during the first quarter of an NCAA college football game against the Baylor on Saturday, Nov. 17, 2012, in Waco, Texas. (AP Photo/LM Otero)

Baylor running back Glasco Martin (8) scores a touchdown over teammate offensive linesman Troy Baker (75) as Kansas State linebacker Arthur Brown (4) watches during the first half of an NCAA college football game Saturday, Nov. 17, 2012, in Waco, Texas. (AP Photo/LM Otero)

WACO, Texas (AP) ? Collin Klein and second-ranked Kansas State can still get to a BCS game. Getting to the BCS championship game is all but lost.

"Anger, frustration, obviously disappointment," Wildcats tight end Travis Tannahill said as he described his feelings after a 52-24 loss at Baylor on Saturday night. "Confused. We just don't know what went wrong. We had a good week of practice. We felt prepared, everything we've done the last 10 games."

Except win.

"It's a hard one," Klein said.

Glasco Martin ran for three touchdowns, Lache Seastrunk had 185 yards rushing with an 80-yard score and the Bears again upset the BCS picture with a late-season victory.

A week after the Wildcats (10-1, 7-1 Big 12) took over the No. 1 spot in the BCS standings following defending national champion Alabama's loss, it now looks like it's going to somebody else's turn at the top.

Maybe Notre Dame, which could get its championship shot after Kansas State and No. 1 Oregon both lost. And the Crimson Tide suddenly is back in the title picture, along with a couple of other SEC teams.

Also, K-State quarterback Klein may be a Heisman Trophy front-runner no more after throwing three interceptions and getting sacked twice while being pressured and harassed all night. He threw for 286 yards and two touchdowns, but had only 39 yards on 17 carries with a score.

On first-and-goal from the 6 in the fourth quarter, Klein had four straight carries and couldn't score ? twice trying from the 1.

"I don't know if I would call it getting smacked in the mouth, but they took it to us," coach Bill Snyder said. "I really thought we prepared well, but as we found out, we didn't. I don't think we handled the situation as well as we should have been able to."

Nick Florence, Baylor's successor to Heisman winner Robert Griffin III, completed 20 of 32 passes for 238 yards, and ran nine times for 47 yards. Both of his passing touchdowns came in the first half when the Bears (5-5, 2-5) jumped out to a 28-7 lead.

"All week we believed we were going to beat them and if we did we weren't going to be surprised when it happened," Florence said.

It was on the same weekend last November, on another Saturday night in Waco, when Griffin and Baylor upset then fifth-ranked Oklahoma after two teams ahead of the Sooners had already lost that day.

Kansas State has plenty of time for this loss to simmer. The Wildcats have Thanksgiving week off before playing their regular season finale Dec. 1 at home against No. 18 Texas.

If the Wildcats beat Texas, they will be guaranteed at least a share of the Big 12 title and get the league's automatic BCS spot.

That may be the only solace after such a crushing loss against Baylor, which still needs to win another game to be bowl eligible.

The Bears hadn't beaten an opponent ranked so high since a 13-7 win over No. 2 Tennessee in the Sugar Bowl on New Year's Day 1957. They tied No. 1 Texas during the 1941 season.

Students and fans dressed in gold swarmed the field to celebrate when Saturday night's game ended.

Klein, who finished 27 of 50 passing, had thrown only three interceptions the first 10 games.

After Martin's 2-yard TD put Baylor up 28-7 with 2:54 left in the first half, Kansas State scored 10 consecutive points before the break ? and then got the ball to start the second half, only to have Klein throw his second interception.

Martin finished with 113 yards rushing.

There was a classic 13-yard run by Klein to start the second half, then two deep incompletions before he was picked off by Sam Holl, who returned it to the Kansas State 38. Four plays later, after a Florence 13-yard keeper, Martin scored on a 4-yard run to make it 35-17.

"We gained a little bit of momentum and we just couldn't sustain anything consistently over time," Klein said. "We definitely knew we were going to have to play well to win. They just played better than we did."

The Wildcats then got a 50-yard kickoff return from Tramaine Thompson, but Klein had three consecutive incompletions leading to a punt that pinned Baylor at its 1.

Florence threw an interception, Randall Evans grabbing the ball at the 1 but immediately getting dragged down by intended receiver Terrance Williams. Klein plunged in from a yard out on the next play, but that would be the last score for the Wildcats.

On the first play after Klein was picked off by Joe Williams in the end zone late in the third quarter, Seastrunk took a handoff and raced 80 yards for the score.

Chris Harper had 11 catches for 123 yards for the Wildcats.

Baylor scored less than 2 minutes into the game on Florence's 38-yard TD to Tevin Reese after completing passes to different receivers on each of the first four plays.

The Bears then tried a short kickoff that K-State recovered. To make it worse, a 15-yard penalty for interfering with the returner set the Wildcats up at the Baylor 38 and led to Klein's 8-yard TD run.

A holding call wiped out a 95-yard return by Antwan Goodley on the ensuing kickoff, but the Bears regrouped to go 75 yards in 11 plays for Florence's 12-yard TD run that made it 14-7.

Early in the second quarter, Klein was picked off by Williams on a deep throw.

K-State had a fumble recovery nullified by an offside call. The Wildcats jumped again on a third-and-9, and Florence took off running for a 10-yard gain, plus an additional 15 yards when Dante Barnett was flagged for unnecessary roughness for lowering his shoulder and a hard hit on the Baylor quarterback, who threw an interception two plays later.

About the only stretch that Klein really looked like himself was that closing 2 minutes of the first half.

On the first play after Martin's score, Klein threw a 36-yard pass to Harper and 5 yards to Tyler Lockett. After a pass interference penalty against Baylor in the end zone put the ball at the 7, Klein threw a TD to Harper,

Baylor then went three-and-out, with Barnett preventing a first down with his open-field tackle of Reese on third down.

The Wildcats then had a 10-play drive in 51 seconds, capped by Anthony Cantele's 23-yard field goal on the last play of the half, right after Thompson's 22-yard reception.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2012-11-18-FBC-T25-Kansas-St-Baylor/id-3be48a7a3cfe4d3083295932b692cf6b

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Agenda for Tuesday's class (November 20, 2012) - Business Risk ...

Next Tuesday (November 20, 2012), we will start class with a quiz based upon the following two readings:

1. Why is Risk Costly to Firms? (Doherty, Chapter 7)
2. How Insurance Solves the Underinvestment Problem, by James R. Garven

I also have assigned an optional reading (authored by yours truly) entitled ?The Modigliani-Miller Theorems and Corporate Risk Management Theory?.? Although I won?t quiz on this, this brief (4 page) reading is important because it helps to set the logical framework underlying our discussion of corporate risk management theory and policy, which is the final topic for Finance 4335.

There are subtle yet important distinctions to be made between individual risk management and corporate risk management.? In the case of individual risk management, we saw?that risk management ?matters? because individuals are risk averse.? Furthermore, since informational asymmetries between principals and agents?are commonplace in real world market settings, we also saw that risk management decisions impact the extent?to which moral hazard and adverse selection problems can be mitigated.? Our focus changes somewhat as we consider corporate decision-making instead of individual decision-making.? Our objective is no longer to maximize expected utility.? Rather, the corporate objective is to?maximize the value of the firm?s equity.? As I show in ?The Modigliani-Miller Theorems and Corporate Risk Management Theory?,?by maximizing firm value,?the firm?s?managers indirectly enable?its shareholders to maximize their own expected utilities. Given this change in focus, we explore?how corporate risk affects firm value, and we?find that?corporate risk management ?matters? for a number of reasons, including?taxes,?agency problems,?bankruptcy costs, liquidity and financial flexibility.

Class on Tuesday will begin where we left off last Thursday; i.e., examining credit risk within Black-Scholes-Merton options framework.? Once we finish that topic, we will begin the corporate risk management topic; specifically by examining?how corporate income?taxation distorts corporate risk-taking incentives.? We will continue our discussion of corporate risk management during the final week of class.

One final note ??as a further incentive to ?show up? on the last class prior to the Thanksgiving holiday, I have decided to offer an extra credit opportunity.? Specifically, you?may earn extra credit for Finance 4335 by writing a succinct (1-2 page) ?executive summary? in which you summarize what you learn from next Tuesday?s class meeting. Email your report (in either Microsoft Word or Adobe Acrobat format) to risk@garven.com by no later than the Monday, November?26 at 5 p.m. I will use your grade on this assignment to replace your lowest quiz grade in Finance 4335 (assuming that your grade on the extra credit is higher than your lowest quiz grade). If you have any questions about this extra credit opportunity, please let me know by emailing me at James_Garven@baylor.edu or calling me at 254-307-1317.

Source: http://risk.garven.com/2012/11/17/agenda-for-tuesdays-class-november-20-2012/

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Shahid Afridi might not be selected for the India tour ? Cricket News ...

Shahid Afridi might not be selected for the India tour ? Cricket News Update

Pakistan selectors do not see underperforming all-rounder, Shahid Afridi, as an automatic selection for the upcoming series against arch rivals India, this was disclosed on Saturday by chief selector Iqbal Qasim.

"Nobody, not even Afridi, gets an automatic place in the side at the moment. Afridi is a fine player and has performed well in past, but the upcoming [domestic] Twenty20 cup is the opportunity for him to perform and we will watch him. I am optimistic about him, as he has done a lot in past and still has a lot of cricket left in him," said Iqbal.

This week, Pakistan players including Afridi were barred by the PCB from playing the Big Bash T20 in Australia, insisting that the players were required to appear in Pakistan?s own domestic tournament before the hectic tour of India.

According to details, the selection committee, will name the players for the Indian tour after the conclusion of the domestic T20 tournament which will end on December 10.

The tour will be Pakistan?s first since 2007 due to suspension of bilateral ties between the countries after the 2008 Mumbai terror attacks.

Admitting the importance of the three-match series, Iqbal said, ?We are wary about India being a very strong host and we want to pick a combination very carefully. Expect no sweeping changes. We need to strengthen the combination with experience but there is always room for an outstanding young talent.?

India are currently in their prime form, while Pakistan have struggled to maintain their successive run.

Going against India in their own backyard without being properly prepared will haunt Pakistan badly, that could see an end to the careers of many aging players.

With Iqbal?s latest remarks, Afridi now has to worry about his performance in the domestic tournament and if he manages to impress the selectors that still will not get him off the hook because if he fails in India he might see an end to his international career.

Source: http://blogs.bettor.com/Shahid-Afridi-might-not-be-selected-for-the-India-tour-Cricket-News-Update-a202090

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Maryland's nears decision on move to Big Ten

COLLEGE PARK, Md. (AP) ? The University of Maryland's decision to stay in the Atlantic Coast Conference or join the Big Ten comes down to tradition versus money.

Given the plight of the school's struggling athletic program, the Terrapins' stature as a charter member of the ACC may not mean as much as the prospect of playing a home football game against, say, Ohio State, and being part of a league that generates more revenue.

The Board of Regents is scheduled to meet Monday to discuss the joining the Big Ten. If Maryland approves the move and applies for admission, Rutgers is expected to follow suit and leave the Big East. That would leave the Big Ten with 14 schools.

An announcement on Maryland's final decision is expected this week, maybe as soon as Monday.

The addition of Maryland and Rutgers, located in New Brunswick, N.J., about 40 miles south of New York city, would give the Big Ten an added presence in the East ? along with Penn State ? and add two huge television markets. Which explain in part why the Big Ten is courting Maryland and offering a fee to join, enough to at least partially offset the $50 million exit fee the ACC approved by vote in September after adding Notre Dame.

By leaving the ACC, Maryland would be breaking ties and rivalries with many schools it has competed against since 1953. There are few bigger college basketball games than Maryland vs. Duke, and Terrapins fans for decades have made up a decent portion of the crowd at the ACC basketball tournament.

Unfortunately, tradition doesn't fill the football stadium on Saturdays. Maryland can't sell out the luxury boxes at the newly renovated Tyser Tower inside Byrd Stadium, and only 35,244 fans showed up Saturday on senior day for a matchup against 10th-ranked Florida State.

Home games against Ohio State, Michigan and Nebraska would surely be sellouts. And, it is entirely possible that the school would consider expanding the on-campus stadium from its current capacity of 54,000.

There's also the matter of the Big Ten television contract, which is far more lucrative than the one the ACC has currently in place. The Big Ten network has also become a cash cow for the league since it started in 2007. According to a May report in the St. Louis Post-Dispatch, Big Ten schools receive about $24.6 million in revenue from the conference this year. With two more major television markets in the conference's footprint, that could go up.

Maryland this year cut seven sports programs because of budget concerns. Instead of merely surviving, the athletics department might even flourish if the Terrapins become part of the Big Ten.

But the prospective move would call for longer road trips. Instead of taking a bus trip to North Carolina for a basketball game against the Tar Heels, Maryland would be forced to fly to the Midwest, perhaps in a snowstorm. And while a visit from the Ohio State football team would be extremely interesting and unique, the curiosity factor would drop off considerably for a game against Minnesota or Iowa.

Those against the move cite tradition is the key factor. But university president Wallace D. Loh has no significant ties to the ACC. In fact, he came to Maryland in November 2010 after serving as the University of Iowa provost. Athletic director Kevin Anderson was hired in 2010 after a seven-year stint at Army.

Anderson did not respond to text messages from The Associated Press this weekend. It is likely, however, that the prospective move is being championed by Loh, who was slated to brief the Board of Regents on Sunday in advance of Monday's session.

The 17-member Board of Regents governs the University System of Maryland. Appointed by the governor, the regents oversee the system's academic, administrative and financial operations. It also formulates policy.

Source: http://news.yahoo.com/marylands-nears-decision-move-big-ten-183242572--spt.html

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