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21 Feb 2012 14:49

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Biz: Dow Jones Industrial Average reaches symbolic milestone

  • 13,000 points, the highest mark since 2008 source
  • » On May 20th, to be precise: The most successful private sectors early in 2012 have been finance and information technology, up nearly 13% when trading began today. The 13,000 figure is considered something of a benchmark for the Dow’s health, and while analysts are right to warn that the significance may be predominantly symbolic, the nature of investor confidence is such that a positive psychological message can itself be a big boon. The Dow crossed this threshold at a time when most attention was focused on Greece, which secured a second bailout from the Euro Zone as their fiscal crisis continued.
Posted by Chris Tognotti • 0 Comments • Permalink

21 Feb 2012 11:24

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Politics: Supreme Court agrees to hear major affirmative action case

  • then Back in 2003, Sandra Day O’Connor wrote the majority opinion in Grutter v. Bollinger, a Supreme Court case that didn’t outlaw affirmative action outright but blocked its use in a points-based system. Colleges could take it into account in a vague way, a decision O’Connor said was meant to last for around 25 years.
  • now This morning, it was announced that the Supreme Court would hear a new affirmative action case, which, depending on how it’s decided could outlaw it outright. The court is more conservative than it was back in 2003, meaning it might go the other way. Note: It’s been nine years since O’Connor wrote that decision. source
Posted by Ernie Smith • 0 Comments • Permalink

21 Feb 2012 10:47

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Politics: Mitt Romney’s campaign plowing through cash, not getting much back

  • 287% the “burn rate” of Mitt’s campaign in January
  • $18M the amount Mitt spent on the campaign trail in January
  • $6.5M the amount Mitt got in donations last month — far less than he took in
  • $7.7M the amount Mitt had in the bank at the end of January source
  • » Spending a lot, not getting much back? With pricey losses and close contests, including in Iowa and South Carolina, the Mitt train seems to be losing some steam. And his toughest week is ahead of him: With contests in Arizona and Michigan in just a week, and Super Tuesday on the horizon, there’s a good chance he may not be able to pull it off, leading to the possibility of a “brokered” or “contested” convention in August.
Posted by Ernie Smith • 0 Comments • Permalink

21 Feb 2012 01:13

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Politics: “Outed” Arizona sheriff won’t quit Congressional race after scandal

  • I’ve never defined myself by anything other than my service, and my duty, and what we should all be judged on in life. We’ve all had relationships, as is clear as day now — now this is national news — that I have had one where he wanted to harm me. And now this is rolled out, and the timing is more than a coincidence.
  • Pinal County, Ariz. Sheriff Paul Babeu • On having to “out” himself in light of a personal scandal. The sheriff, currently running for a Republican Congressional seat in Arizona, had been dogged by rumors that he threatened to deport an ex-lover to Mexico if their relationship a secret wasn’t kept. In order to deny those rumors, Babeu held a press conference and, in turn, announced his sexuality. Babeu, a hard-line conservative who had been a rising GOP star prior to the scandal, recently spoke at CPAC, where he called his primary opponent, Rep. Paul Gosar “most liberal Republican member of Congress.” Babeu thinks political rivals were behind the recent scandal. “I’ve got a record of service. people know me. I want to be judged, as every American should be, on results,” Babeu said. Does Babeu stand a shot at getting elected in the wake of this news? source
Posted by samimain • 0 Comments • Permalink

21 Feb 2012 00:58

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World: Massive Mexican prison riot: Not exactly what it seems?

  • whatIn a Mexican prison, 44 prisoners died in an early-morning riot Sunday. The riot, wich lasted around two hours, stemmed from a conflict between two cell blocks of around 750 prisoners each, many of whom were held without convictions. It was one of the deadliest prison riots since the Drug War gained steam.
  • why? Some rioters may have belonged to rival gang factions. Those rivals were normally separated within the prison, however, leading some to suspect that the guards used the fight as a cover to allow for a prison escape. The guards on duty at the time have been detained, along with their supervisors and the director of the prison. source
Posted by samimain • 0 Comments • Permalink

21 Feb 2012 00:41

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Culture: Comeback trail: Lindsay Lohan’s “Saturday Night Live” hosting gig

  • Set your DVRs now: Although she hasn’t been on the show since 2006 (when her personal problems started affecting her work), Lindsay Lohan will host “Saturday Night Live” for the fourth time on March 3. Could this be her first step back into acting? She hasn’t made a movie since 2010’s “Machete,” but based on their recent tweets, Lohan and her mother are both excited about this being a real corner-turning opportunity for the 25-year-old. Hopefully this won’t be as terrible as it could be. The musical guest will be Jack White, after all. source
Posted by samimain • 0 Comments • Permalink

20 Feb 2012 20:43

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Culture: New Jersey residents, others upset about flying flags half-staff for Whitney

  • cause To honor one of the state’s greatest pop stars, New Jersey Gov. Chris Christie had state buildings fly flags at half-staff (usually reserved for military or politicians) ahead of Whitney Houston’s funeral this past Saturday.
  • reaction Reactions to the decision have been strong — one New Jersey town basically ignored the order and a Michigan man (whose son was killed in Iraq back 2005) burned a replica of the state’s flag on his outdoor grill.
  • response Christie defended his decision last week, prior to Houston’s funeral: “For those people who say, ‘I don’t think she deserves it,’ I say to them, ‘I understand that you don’t think that. I do, and it’s my executive order.’” source
Posted by Ernie Smith • 0 Comments • Permalink

20 Feb 2012 19:56

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Politics: Pro-Newt Super PAC’s fundraising courtesy of two people (they’re married)

  • $11M the amount the main pro-Newt Gingrich Super PAC, Winning Our Future, raised in January
  • $5M of that total came from Sheldon Adelson, a casino magnate with deep pockets
  • $5M of that total came from Adelson’s wife, Miriam; they know a thing or two about gambling source
Posted by Ernie Smith • 0 Comments • Permalink

20 Feb 2012 14:34

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Politics: Koch thinks Walker recall is all that’s standing between trade unions and Highlander status

  • If the unions win the recall, there will be no stopping union power.
  • Billionaire David Koch • Speaking about the Wisconsin recall efforts against Gov. Scott Walker. Koch made the comments during a recent speech after a benefit dinner, and were quickly backtracked by his spokeswoman, who clarified, “[Koch Industries thinks] the best workplace relationships are fostered when the employer works directly with its employees. It is a mischaracterization of our principles to say this means we oppose unions or want to dismantle all unions.” The Koch brothers find themselves under ever-increasing scrutiny for supporting political causes around the country, most notably the recall campaign of Wisconsin Governor Scott Walker. source
Posted by Scott Craft • 0 Comments • Permalink

20 Feb 2012 11:07

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Biz, U.S.: Mardi Gras worth a heckuva lot more than beads to New Orleans

  • $140 million one estimate as to how much economic impact Mardi Gras has on the New Orleans area each year
  • $500 million another estimate; “There’s no way to know for sure because we don’t sell tickets,” a historian says source
  • » A massive party with a massive impact: “There are a lot of municipalities all over the world that want to copy what we do here in New Orleans because it drives tourism,” claims Barry Kern, whose float-building studio is busy year-round getting designs ready for the event and other similar events elsewhere. And with good reason, too. While the party itself is free, the 100,000 people riding the floats each year can spend as much as $2,000 to $3,000 on costumes, throws and fees. Then when you throw in the thousands of others who spend money on parties, king cakes and other revelry, and the financial impact adds up fast each year.
Posted by Ernie Smith • 0 Comments • Permalink
 
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