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Forty years ago, congressmen John Murphy and Robert Steele released an alarming report alleging that 15 percent of U.S. servicemen in Vietnam were addicted to heroin.
Times have changed, but according to a new report, drug problems in the military remain.
Members of the U.S. military attend are seen attending Major League Baseball game in San Diego, California September 3, 2006. (Mike Blake/Reuters)
Members of the U.S. military attend are seen attending Major League Baseball game in San Diego, California September 3, 2006. (Mike Blake/Reuters)
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Enter Spice ? an easy-to-get herbal mix that mimics the high produced by marijuana, causing hallucinations that can last for days at a time. Spice is made up of exotic plants from Asia like Blue Lotus and Bay Bean. Their leaves are coated with chemicals that mimic the effects of THC, the active ingredient in marijuana, but are five to 200 times more potent.
This year, a new aggressive testing program has led to the investigation of more than 1,100 suspected military Spice users.
"You can just imagine the work that we do in a military environment," Mark Ridley, deputy director of the Naval Criminal Investigative Service, told the AP. "You need to be in your right mind when you do a job. That's why the Navy has always taken a zero tolerance policy toward drugs."
According to the NCIS, two years ago 29 Marines and sailors were investigated for Spice.
This year, 700.
The Air Force has punished 497 airmen this year, a jump from last year's 380, according to figures provided to the Associated Press by the Pentagon.
The Army does not track Spice investigations but told the AP it has medically treated 119 soldiers for the synthetic drug in total.
The Drug Enforcement Administration banned synthetic marijuana in March this year after stating it would make possessing and selling the chemicals used to produce Spice, also known as K2, illegal in the U.S. for at least one year while the DEA and the Department of Health and Human Services study whether the chemicals should be permanently controlled.
Five chemicals most commonly found in the hallucinogens are classified as Schedule I controlled substances, a category reserved for unsafe, highly abused substances with no medical usage. A test was developed after the DEA implemented the one-year emergency ban.
In November, Navy Medicine released a video explaining the risks associated with Spice. Adverse health effects include seizures, hallucinations, paranoid behavior, agitation, anxiety, nausea, vomiting, racing heartbeat and elevated blood pressure.
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OCEAN PINES - A planned community near Ocean City is considering whether to rebuild the greens on its golf course after a hot summer caused damage that cost the course nearly $250,000 in business.
According to The Daily Times of Salisbury, a United States Golf Association agrnonomist and the company that manages the Ocean Pines Golf Course have recommended that the greens be rebuilt, at a cost of more than $860,000.
Agronomist Darin Bevard told the Ocean Pines Association board of directors that the 40-year-old course couldn't withstand this summer's excessive heat because its drainage system is out of date.
The course was nearly unplayable by September, and it lost business when management contacted golfers to let them know about its poor condition.
The board could also opt for more temporary repairs.
Source: http://www.hometownannapolis.com/cgi-bin/read/2011/12_27-34/REG
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[More from Mashable: Man Uses Google+ Game to Propose to Girlfriend [VIDEO]]
In an annual index of ecommerce sites' customer satisfaction by analytics firm ForeSee, Amazon's performance improved while Netflix's plunged after the two companies spent several years dueling for the study's top spot. Amazon's overall score rose two points to register 88 out of 100 possible points for the index's best mark.
But Netflix, following a year marred by a series of service and public relations missteps, saw its total fall seven points for an overall rank of 79. The 8% decline in score was the steepest of all the companies included in the study.
[More from Mashable: Amazon Goes Social Shopping: What Quorus Hires Mean]
The survey considers a range of factors to rank online retailers, including website content, functionality, merchandise and prices. ForeSee considers a score of 80 to be "the standard for excellence."
Netflix appears to be experiencing continued blowback from a fiasco-plagued 2011. In July, the company unexpectedly raised its prices for both streaming and DVD delivery by 60%. Then in August, it attempted to create a spinoff company that would have required customers to create two separate accounts for what was previously one service.
Netflix then scrapped that plan in October, but its stock price had already lost half its value the month before. ForeSee says its holiday satisfaction survey is the first methodical assessment of customer satisfaction with Netflix since company's blunders earlier this year.
"Customer satisfaction is predictive, which means that Netflix's financial woes may be just beginning," ForeSee president Larry Freed said in a statement accompanying the study's release.
Amazon, meanwhile, continues its dominance of the online retail space in multiple sectors and rebranded its streaming video service earlier this year to better compete with Netflix. Amazon has also received a boost from its line of popular Kindle products, which have sold at an astounding rate recently.
While Amazon enjoyed a glowing review according to the holiday shopping study, other companies made even more impressive jumps in online customer satisfaction. Electronics retailer TigerDirect.com made the largest jump, with an 8 percent increase in customer satisfaction for an overall score of 79. JC Penney, which named former Apple executive Ron Johnson as CEO earlier this year, improved by 6% for an overall score of 83.
Gap.com and Overstock.com posted the steepest declines after Netflix, falling six and five percent, respectively. Gap.com registered an overall score of 73, while Overstock.coms' score was 72.
General online shopper satisfaction has increased from 74 when the holiday satisfaction study began in 2005 to an all-time high of 79 this year.
Where do Netflix and Amazon stand in your opinion? What e-retailers were you impressed or let down by this holiday season?
This story originally published on Mashable here.
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DECORAH, Iowa ? Newt Gingrich arrived in Iowa with just a week to go and a lot of ground to make up before the Iowa caucuses.
After kicking off a 22-stop bus tour ? cut from an originally-planned 44 stops ? at a country club in Dubuque, Gingrich pivoted from trying to stay above-the-fray to blasting Mitt Romney for governing Massachusetts as a moderate, raising taxes and costs on business and growing the size of his state?s government.
Continue ReadingAnd he cut deeper speaking to an overflow crowd who came to his last stop of the day in the basement of a popular local pizza restaurant in this college town.
?The Heritage Foundation was positive about Romneycare also in 2006. First of all, neither Heritage nor I realized that Romneycare uses taxpayer money to pay for abortions. And neither of us realized that they had accepted Planned Parenthood by law to run [elements of] their health care or I think we would have both said you ought to veto the whole bill if that?s what?s going to happen. So there are some details there that are different.?
Gingrich had his eyes on his other Iowa competition too, knocking Ron Paul as dangerous, not serious and a hypocrite for disowning the incendiary statements published in his newsletters decades ago.
After surging and now plummeting in the polls, Gingrich is trying to recapture his lost momentum. He?s doing it under the shadow of questions about his organizational ability raised by his failure to qualify for the Virginia ballot that grow increasingly acute as the organization-heavy caucuses loom.
And following a six-day gap at the end of a campaign that only occasionally stopped in Iowa during the summer and fall, Gingrich isn?t just rushing to make the argument against Romney ? he?s rushing to make it to enough Iowans to put himself over the top next week.
Gingrich faces a tricky balancing act. By temperament, he clearly wants to attack relentlessly and fight fire with fire. But the dynamics of the race ? including the amount of money he?s being outspent by ? have him grasping for the moral high ground.
One thing remains a constant: Gingrich wants a 90-minute one-on-one debate with Romney. So far, the former Massachusetts governor has ruled that out, quashing Gingrich?s attempts to turn the Republican nomination fight into a two-man race where he plays the conservative and paints Romney as the establishment standard-bearer.
That?s the essence of the ?contrast? with Romney that Gingrich rolled out here Tuesday.
?He is a good manager. He is a competent person. He did very, very well with the Winter Olympics, but there is a huge difference between the philosophy of a supply-side conservative in the [Jack] Kemp-[Ronald] Reagan tradition and the philosophy of a Massachusetts moderate,? Gingrich told about 200 people at an event sponsored by the local Rotary Club earlier in the day.
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Brees threw for 307 yards and four touchdowns, the last a 9-yard strike to Darren Sproles that set the record with 2:51 to go.
?So many people contributed to this, and I?m happy for them,? Brees said.
It was Brees? final pass of the game and it gave him 5,087 yards passing ? with one game still to play. Marino finished with 5,084 yards for the Miami Dolphins in 1984.
As Sproles spiked the ball, Brees put his arm over his head and started walking toward midfield while the Superdome crowd went wild and his teammates chased him down.
?Obviously it?s a special moment for the players, especially Drew,? Saints coach Sean Payton said. ?I couldn?t be more proud of him.?
Brees? four touchdowns gave him 276 for his career, moving him ahead of Joe Montana (273) and Vinny Testeverde (275) for ninth all-time. He is the first quarterback in NFL history to pass for more than 5,000 yards twice ? he had 5,069 in 2008.
Brees? first scoring pass went for 8 yards to Marques Colston and the second for 9 yards to Jimmy Graham. Graham?s TD catch was his 10th of the season, a new franchise high for a tight end. In the third quarter, Brees hit Robert Meachem for a score from 24 yards, which made it 28-10.
The Saints also had 463 total yards, giving them more than 6,857 offensive yards for the season, breaking the 2008 club record of 6,571 yards. New Orleans continues to close in on the NFL-record of 7,075 offensive yards in a season set by the 2000 St. Louis Rams.
Brees might have broken the record in the third quarter if not for Sproles? 92-yard kickoff return, which set up John Kasay?s 29-yard field goal. Brees also was intercepted twice in the game, once in the Falcons end zone, but New Orleans was still dominant enough to take a three-score lead.
The game became a romp when Julio Jones was stripped by Scott Shanle and Malcolm Jenkins returned it 30 yards for a score to make it 38-16 in the fourth quarter. The Superdome crowd was in full celebration by then, but the play also meant fans would have to wait until later in the fourth quarter before Brees finally got his chance to break the passing record.
Uncharacteristically, Brees had only a yard passing during a span of a little more than 18 minutes. Knowing he was closing in the record, the crowd howled, ?Drewwww? each time he took the field. He finally gave the fans what they wanted after Atlanta failed on a fourth-down try at its own 33. That gave Brees, who needed only 30 yards for the record at that point, just enough space to work with.
Matt Ryan had 258 yards passing and one TD, including a 21-yard scoring strike to Jones that gave the Falcons a 10-7 lead late in the first quarter.
New Orleans responded with a 10-play, 81-yard scoring drive on which Brees completed four of six passes for 48 yards, the last three to Colston, who had six catches for 69 yards in the first half.
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LONDON (AP) ? Britain's royal family celebrated Christmas on Sunday with one notable absence ? Queen Elizabeth II's husband Prince Philip, who remains hospitalized following a heart procedure.
The 90-year-old prince was recovering from having a coronary stent put in after doctors determined the heart pains that sent him to the hospital on Friday were caused by a blocked artery.
Buckingham Palace said "he's in good spirits" and family members will visit Philip, also known as the Duke of Edinburgh, in the hospital after lunch.
The royal family's Christmas schedule kicked off with a traditional morning service at St. Mary Magdelene Church, on the queen's sprawling Sandringham estate in Norfolk.
The huge crowds that gathered outside the church got an early peek when the royals made a quick private visit to the church ahead of the services. Less than two hours later, they were back ? in different clothes ? for the Christmas service.
The Queen arrived first ? dressed in a lavender-colored coat and hat ? in a royal limousine, leading the way into the church. Her oldest son, Prince Charles, and his wife, Camilla, trailed behind.
Prince Harry walked in with his brother William and new sister-in-law Kate? now known as the Duke and Duchess of Cambridge. Kate, whose style is closely watched around the world and who sends any dress she wears flying off the shelves in Britain, wore an eggplant-colored coat and matching hat.
Among the other royals present was the queen's granddaughter, Zara Philips, who was joined by her new husband Mike Tindall, an English rugby player.
After the service, children lined up to give bouquets of flowers to the queen. Thanking each well-wisher, the queen then handed the bouquets to her granddaughters, Princesses Beatrice and Eugenie.
Well-wisher Camilla Fitt, 71, said Charles told her that his father, Philip, was "very determined" to get well.
"Charles said he is coming on," said Fitt.
The royal family then traveled back to the house for lunch, an integral part of their celebration.
Another key part of their Christmas festivities is the queen's annual message to the nation, which this year will focus on family and community.
The 85-year-old queen has made a prerecorded Christmas broadcast on radio since 1952 and on television since 1957. She writes the speeches herself, and the broadcasts mark the rare occasion on which the queen voices her own opinion without government consultation.
___
Cassandra Vinograd can be reached at http://twitter.com/CassVinograd
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VIDEO: Who are London's homeless people? - bbc.in/tc2mrM #Homelessness 
Sundip Sundip Meghani
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At least 27 lay dead at a Christian church in Nigeria after a bombing there that was part of a wave of blasts across the country? on Christmas Day. An Islamist group claimed credit. NBC?s Rohit Kachroo reports.
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LEXINGTON, Ky. ? Coach Jimmy Patsos got a firsthand experience of third-ranked Kentucky's athleticism. It nearly hit him.
Reserve Kyle Wiltjer scored a personal-best 24 points and a trio of freshmen sparked Kentucky's 17-2 second-half run to beat Loyola (Md.) 87-63 on Thursday for the Wildcats' 42nd straight win at home.
Freshmen Wiltjer, Anthony Davis and Michael Kidd-Gilchrist all had afternoons to remember as Kentucky (11-1) heads into a five-day break before the schedule begins to ramp up.
Kidd-Glichrist had 15 points and seven rebounds and Davis contributed 15 points, 11 rebounds and three blocks, one of which nearly took out the coach.
"I almost got hit in the head when he blocked one of my kid's shots," Patsos said. "Their length and the Gilchrist kid is better than I thought. He's not flashy. He just drives the ball. I was wrong on him. I thought we'd be able to have an advantage on that matchup, but we didn't. He makes a lot of little plays."
Baltimore-based Loyola (8-3) stayed close throughout the first half and pestered Kentucky, which was missing preseason All-American Terrence Jones for the second straight game after he dislocated the pinky finger on his left, shooting hand on Saturday.
Erik Etherly scored 14 points, Dylon Cormier 13 and Justin Drummond had 10 points for the Greyhounds.
With the Christmas break at hand, Kentucky needed to work a little harder than expected after Etherly cut the lead to 45-41 with the first basket of the second half before Kentucky began pulling away.
"It shows that we can play with them," Cormier said. "If we can play with them, then at the mid-major level we should be something to be reckoned with."
Loyola's longest winning streak since joining Division I in 1981-82 ended at eight at St. Bonaventure on Sunday, and while the Greyhounds hadn't played an SEC opponent in 28 years, they weren't intimidated by the Rupp Arena crowd.
The Greyhounds only led once at 2-0, but stayed close and even showed some swagger of their own, with Cormier doing his own "3-goggles" salute after hitting a long-range shot midway through the first half.
After a 6-0 run gave Kentucky its first double-digit lead at 33-23, Loyola answered with an 8-0 run that was capped when the Greyhounds stripped Marquis Teague in a halfcourt trap and Etherly finished an alley-oop pass from Robert Olson on the break.
Etherly went right at Davis, one of the top freshmen in the country, when he beat Wiltjer on the dribble and Davis couldn't rotate over to block Etherly's emphatic dunk. Loyola trailed 45-39 at halftime.
The good feelings wouldn't carry over. After Loyola scored the first basket of the second half, Kentucky tightened up its pressure to pull away.
After a timeout early in the second half, Etherly scored to cut it to eight, but Kidd-Gilchrist and Wiltjer sparked the 17-2 run. A basket by Wiltjer and a dunk by Eloy Vargas made it 73-50 as Loyola went 5:17 without a point because of Kentucky's throttling defense.
On one play, Davis crossed the lane and swatted J'hared Hall's layup attempt for his third block of the game that nearly hit Patsos. Davis has 52 blocks, on pace to easily break the school's season-single record of 83.
"It's always in the back of your mind when he's down there," Etherly said. "I don't think he gets enough credit. He affects a lot of shots even if he doesn't block them."
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(No. 387 - December 22, 2011 - noon ET) Foreign Affairs Minister John Baird today issued the following statement:
?Canada strongly condemns these cowardly attacks in Baghdad.
?On behalf of all Canadians, I offer my deepest sympathies to the families and friends of those killed in these senseless acts of violence.
?We stand with the Government of Iraq as it confronts the real threat of terrorism and extremist violence inside Iraq?s borders.
?We urge the leaders of Iraq to facilitate meaningful and constructive dialogue that will help bring about a stable and secure Iraq for all its citizens.?
- 30 -
For further information, media representatives may contact:
Foreign Affairs Media Relations Office
Foreign Affairs and International Trade Canada
613-995-1874
Follow us on Twitter: @DFAIT_MAECI
Source: http://www.international.gc.ca/media/aff/news-communiques/2011/387.aspx?lang=eng
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Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently increased stock shares of Dollar Thrifty Automotive Group Inc. (NYSE:DTG).
SEC data indicate that these institutions significantly increased their stock shares of Dollar Thrifty Automotive Group Inc. in Q3 2011:
About the company: Dollar Thrifty Automotive Group, Inc. operates Dollar and Thrifty vehicle rental systems. The Company provides its services to leisure customers, tourists, small businesses, and independent business travelers. Dollar Thrifty operates locations in the United States and Canada, as well as other countries.
Competitors to Watch: Avis Budget Group Inc. (NYSE:CAR), Hertz Global Hldgs., Inc. (NYSE:HTZ), EV Transportation Inc (EVTP), Avis Europe plc (AVE), Helphire Group plc (NYSE:HHR), Localiza Rent a Car SA (RENT3), Premier Enterprise PCL (PE), A.S.G. (Andy Spyrou) Group Public Ltd (NYSE:ASG), and Krungthai Car Rent & Lease PCL (KCAR).
(Note: Data regarding Dollar Thrifty Automotive Group Inc.?s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)
Advantage: Check out our interactive stock charts, fundamentals, Twitter stream, and more >>
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BEIRUT: The government intends to launch olive oil and sugar beet subsidies, said Agriculture Minister Hussein Hajj Hasan.
Hajj Hasan said his ministry had prepared the sugar beet subsidies draft decree and intended to pass it on to Prime Minister Najib Mikati and other concerned ministers for further examining.
Olive farmers rejected Monday a Cabinet decision last week to buy 50,000 20-liter canisters of olive oil.
The quantity, designated for Lebanese Army consumption, is intended to support farmers who have been saying they are unable to market more than 200,000 canisters of 2011 produced olive oil. ?
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TOKYO ? Sony's long-awaited PlayStation Vita portable game machine hit stores in Japan on Saturday as thousands of game enthusiasts lined up early in the morning to be among the first to buy it.
Sony Computer Entertainment Inc. is predicting brisk sales, even though the launch may have missed some holiday shoppers. A successful debut would help the company offset the rest of its struggling business. Sony projects a loss of more than $1 billion for the fiscal year through March 2012, which would be its fourth straight annual loss.
In Tokyo's Ikebukuro shopping district, some 300 game enthusiasts lined up outside a major electronics chain that opened a few hours earlier than usual for the event. Many of the purchasers had made advance orders on the Internet so they could start playing immediately.
The device is a touch-interface and motion-sensitive handheld seen as a successor to the PlayStation Portable. Gamers can connect over cellphone networks and Wi-Fi hotspots, and use GPS location-tracking technology.
Television footage showed some shoppers unwrapping their new purchases and starting to try them out at the store.
"I'm so happy to see so many people lining up for PS Vita so early in the morning," Sony Computer Entertainment Japan President Hiroshi Kono wrote in his official blog after touring several Tokyo stores. "I can tell they had anxiously waited for today's launch."
For the Tokyo-based electronics and entertainment giant, the Vita is the biggest product launch since the PlayStation 3 console five years ago. It's also accompanied by two dozen software products ? the largest number of launch titles in PlayStation history.
The Vita has front and back cameras, a touchscreen in front, a touch pad on the back and two knob-like joysticks. It will enable gamers to play against each other using PlayStation 3 consoles over the Internet-based PlayStation Network, a system that was hit with a massive hacking attack earlier this year.
Vita's launch will heat up competition with rival Nintendo Co.'s 3DS. Nintendo Co.'s 3DS had a disappointing start despite the company's efforts to market its 3-D technology, with critics complaining about a lack of interesting games. Nintendo ended up slashing prices on the 3DS within six months.
The companies are challenged by the rise of smartphones and tablets, through which casual gamers play inexpensive and simple games like the mega-hit "Angry Birds."
The PS Vita goes on sale in North America and Europe on Feb. 22.
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COMMENTARY | Former Mass. Gov. Mitt Romney accused his GOP presidential rival Newt Gingrich of being "zany" and "not a middle-class American," the latter charge coming because of the former House Speaker's Tiffany's purchases, according to the Associated Press Dec. 14. Romney needs to be more careful about what he espouses, because his hypocrisy reeks so badly. He's well on his way to not becoming the Republican presidential nominee.
Romney himself has an estimated net worth of between $190 million and $250 million, according to Political Intelligence at boston.com. So his attacks on Gingrich's retail purchases are shameful to say the least. How many middle-class Americans have the extra money to make large bets like Romney? He flaunted his "rich man" status by challenging Texas Gov. Rick Perry to a $10,000 bet during the GOP presidential candidates debate Dec. 10 in Des Moines, Iowa, as reported by Reuters.
Furthermore, Romney should apply the term "zany (and more)" to himself first before accusing others of being that way, especially regarding the endorsements of failed U.S. Senate candidate (for Delaware) Christine O'Donnell and conservative writer Ann Coulter.
The New York Daily News reported that O'Donnell, who chose to defend herself from charges of being a witch last year during campaigning, made a bizarre statement on CNN about her adoration for the flip-flopping Romney (who welcomes her endorsement), "That's one of the things that I like about him -- because he's been consistent since he changed his mind."
According to The Telegraph, Romney has been running radio ads in Iowa regarding Coulter's endorsement. Yet that goes beyond "zany," since Coulter, known for continuously making inflammatory statements, uttered this zinger on Sean Hannity's program in late October, "our blacks are so much better than their blacks," as reported by Mediaite.
Romney wants voters to think he's the level-headed candidate that can beat President Barack Obama, but when his charges against his one of his biggest political threats are so hypocritical, he's sabotaging his chances of winning the GOP presidential nomination.
The latest Wall Street Journal/NBC News poll shows Romney trailing Gingrich by 40 percent to 23 percent among likely GOP voters, according to Newsmax Wires. How gullible does Romney think the majority of GOP voters are to not see through his tactics?
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Inhabitat's Week in Green: worlds largest LEGO Christmas tree, turbine powered LEDs and a hydrogen fuel cell vehicle originally appeared on Engadget on Mon, 05 Dec 2011 20:00:00 EDT. Please see our terms for use of feeds.
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As Craig noted in his ?Baseball Wives? recap this morning, my favorite cast member is Jason Kendall?s ex-wife, Chantel Kendall. She happens to be on Twitter, so naturally I creepily attempted to interact this afternoon and ? well, this happened: I?m aiming for an appearance on Season 2. Or maybe a ?Baseball Blogger Wives? spin-off?
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Funzio has managed to make hit versions of its first game, Crime City, for both Facebook and iOS devices. That's a rare feat for any company, especially such a small one. Now it's trying again with a role-playing simulation called Modern War, that it's launching first on iOS. The game itself is closely patterned after the iOS version of Crime City. A slick graphical interface lets you move around various battle scenarios, where you click on enemy units and structures on the screen to attack them, and earn virtual cash and experience when you win. You also battle with various other players in a traditional role-playing format where you don't actually do any battling, you just see the resulting losses and point gains. A home base lets you build structures that generate new troops and equipment. The free game has the standard virtual goods revenue model. The virtual cash currency and gold are dual currencies that let you do things like buy new buildings that provide more powerful improvements to your troops.Source: http://feedproxy.google.com/~r/Techcrunch/~3/mMwiG2KfTUo/
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BANGKOK ? Asian stock markets soared Thursday after major central banks acted in concert to lower borrowing costs, hoping to prevent a global credit crisis similar to the one that followed the collapse of Lehman Brothers in 2008.
Japan's Nikkei 225 index rose 2.2 percent to 8,619.26. South Korea's Kospi gained 3.7 percent to 1,916.87 and Hong Kong's Hang Seng jumped 5.1 percent to 18,902.57. Benchmarks in Australia, Singapore, Taiwan and mainland China all rose more than 2 percent.
Wednesday's action by the central banks of Europe, the U.S., Britain, Canada, Japan and Switzerland reduces the rates banks must pay to borrow dollars. The move aims to make loans cheaper so that banks can continue to operate smoothly.
Separately, China's central bank on Wednesday reduced bank reserve levels to release money for lending and help shore up slowing growth.
"The moves were cheered by markets, as it shows central banks are willing to work together to ease Europe's sovereign debt crisis," said Stan Shamu of IG Markets in Melbourne. "It seems China now thinks that slowing growth is more of a risk than inflation after cutting its reserve requirements for the first time since 2008."
Chinese banks soared on the news. Hong Kong-listed Industrial & Commercial Bank of China, the world's largest bank by market value, surged 7.7 percent. Bank of China Ltd. jumped 7.5 percent and Agricultural Bank of China, the country's largest rural lender, rose 7.4 percent.
Worries about Europe's financial system ? and the reluctance of the European Central Bank to intervene ? have caused borrowing rates for European nations to skyrocket. Central banks will now make it cheaper for commercial banks in their countries to borrow dollars, the dominant currency of trade.
But while it should ease borrowing for banks, it does little to solve the underlying problem of mountains of government debt in Europe, leaving markets still waiting for a permanent fix. European leaders gather next week for a summit on the debt crisis.
The move sent the Dow Jones industrial average soaring 490 points, its biggest gain since March 2009 and the seventh-largest of all time.
The Dow rose 4.2 percent to close at 12,045. The Standard & Poor's 500 closed up 4.3 percent at 1,247. The Nasdaq composite index closed up 4.2 percent at 2,620.
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WASHINGTON ? One trip, two money pitches. President Barack Obama wants more money in the pockets of U.S. workers ? and in his campaign treasury.
With both goals in mind, the president was to travel Wednesday to swing-state Pennsylvania to press his case for a bigger temporary payroll tax cut that will boost paychecks. He then will descend on donor-rich New York City to raise money for his already flush re-election bid.
The one-day trip to Scranton, Pa., and New York illustrates the dual policy and political demands on Obama as the 2012 campaign season nears. It also draws attention to the different audiences that politicians must court, particularly in a weak economy.
Obama is pushing Congress to extend and expand this year's payroll tax cut, a move designed to increase consumer demand and boost the economy. If Congress does not act by year's end, the full payroll tax of 6.2 percent would be restored, increasing taxes on 160 million Americans.
To make Obama's case, the Treasury Department on Wednesday released a report listing state-by-state estimates of how many taxpayers received tax breaks under this year's 2 percentage point reduction in the payroll tax. For example, the report states that 6.7 million Pennsylvanians will have received $4.7 billion in tax cuts this year. The figures reflect state populations, with California at the top with 16.7 million workers getting $12.6 billion in tax cuts; Wyoming finished the list with 300,000 workers getting $200 million in tax breaks.
As the deadline approaches, bipartisan political support is building for at least continuing the tax cut ? heading off a politically bruising tax hike. But Obama wants the cost of the payroll tax cut to be made up by an increase in taxes on taxpayers who earn more than $1 million, a trade-off that Republicans reject.
White House adviser David Plouffe on Wednesday described Obama's plan as "a tax cut for 160 million Americans paid for by asking a little over 300,000 millionaires to pay a little bit more."
Appearing on NBC's "Today," Plouffe said: "If we don't extend this working tax, every American would see their taxes go up. In this economy we can't afford it."
In selecting Scranton to make his appeal, Obama is venturing into the birthplace of Vice President Joe Biden and Sen. Bob Casey, the Pennsylvania Democrat who is the author of the payroll tax cut plan in the Senate.
The White House said Obama would meet with a Scranton family in their home before delivering a speech at Scranton High School.
Obama won Pennsylvania with 54 percent of the vote in 2008, but the state of the economy could put it in play in 2012. Its proximity to Washington and its political importance have made it a favorite stopping place for Obama and Biden. The trip comes as Obama steps up his re-election campaign, rolling out two ads that call on supporters to begin to mobilize.
White House spokesman Jay Carney, while conceding that the re-election effort is under way, played down politics as a factor in Obama's Scranton visit.
"It's part of his responsibility, serving the American people, to get out and be among them and to speak with them about his agenda or her agenda," he said.
In New York, Obama will attend three fundraisers: one at a private residence where tickets begin at $10,000; one at the Greenwich Village restaurant Gotham Bar and Grill at $35,800 per ticket; and a reception at the Sheraton Hotel, where tickets begin at $1,000. The money will be split between the Democratic National Committee and the Obama re-election campaign.
Obama also is scheduled to attend a reception celebrating progress on gay rights and the six-month anniversary of New York's approval of gay marriage. Obama has been supportive of gay and lesbian causes but has yet to declare his support for gay marriage.
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With Angry Birds, Rovio found a way to transform normal, healthy people into raging bird-flinging addicts. This isn't really that big of a deal — at least not in most cases — unless some shady app developers begin impersonating Rovio and selling fake apps on the Android Market. Did I mention that some shady app developers have started impersonating Rovio and selling fake apps on the Android Market?Source: http://feedproxy.google.com/~r/Techcrunch/~3/m_VozmP2otM/
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