Saturday, June 22, 2013

A Glowing Pump That Lets Drivers Know You're Doing Roadside Repairs

A Glowing Pump That Lets Drivers Know You're Doing Roadside Repairs

There's a reason that Topeak's MiniRocket iGlow bike bump won a 2013 Red Dot Design Award: the transparent barrel encases a internal optical fiber that turns a small red LED into a brilliantly-visible glowing safety strip. And at just 67 grams, it adds minimal weight to your bike's frame, so it's easy to always keep on hand. A pair of watch-sized batteries powers it continuously for up to 50 hours on its brightest setting, and 100 hours when dimmed.

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Source: http://feeds.gawker.com/~r/gizmodo/full/~3/JxVwcGj5Wo0/a-glowing-pump-that-lets-drivers-know-youre-doing-road-534969745

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Howard Dean open to another presidential run (Washington Post)

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Nissan shows off 185 mph ZEOD RC electric prototype, plans to race it at Le Mans

Nissan shows off prototype electric car design, plans to race it at Le Mans

Nissan's just pulled the covers off its fancifully styled ZEOD RC race car that may eventually hit speeds of up to 300km/h (about 185mph). Though the acronym stands for "zero emissions, on demand," the vehicle could end up being a hybrid model that switches between gas and EV modes (as opposed to a pure electric car) by the time it hits Le Mans in 2014. Regardless, the company's Nismo racing division (creator of the all-electric Nismo RC) plans to enter it in the so-called Garage 56 class of the famed race, reserved for vehicles that showcase breakthrough technology. While the company flaunted the design at Circuit de la Sarthe in France today, the car won't start trials until later this summer, after which the final drivetrain will be chosen. Prior to hitting the track, though, it'll have its work cut out just to top Toyota's P001, the current EV lap-speed champ.

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Ex-Enron CEO gets 10 years cut from sentence

HOUSTON (AP) ? Ex-Enron Corp. CEO Jeffrey Skilling ? seen by many as exemplifying the worst in corporate fraud and greed in America ? could be released from prison in about four years after a federal judge on Friday shaved off a decade from his original sentence of more than 24 years.

Skilling's resentencing during a packed courtroom hearing brought one of the country's most notorious financial scandals ? the collapse of the once-mighty energy giant ? to a conclusion that upset some former Enron workers.

Ex-Enron worker Diana Peters, the only victim who spoke at the resentencing hearing, said afterward in a phone interview that Skilling should have to serve his entire original sentence.

"Jeffrey Skilling has never taken any responsibility for his actions," said the 63-year-old Peters, who lives in Huntsville, north of Houston. "He has no remorse for the end result of what happened."

Even before Friday's resentencing, which was part of a court-ordered reduction and a separate agreement with prosecutors, Skilling had already been set to have his sentence of about 8? years shortened after an appeals court vacated his original sentence by U.S. District Judge Sim Lake.

The appeals court ruled that a sentencing guideline was improperly applied. However, Skilling's resentencing was delayed for years as he unsuccessfully sought to overturn his convictions, including appealing to the U.S. Supreme Court.

The Justice Department said in order to resolve a case that's gone on for more than 10 years, it agreed to an additional reduction of about 20 months as part of a deal to stop Skilling from filing any more appeals. Federal prosecutors say it will allow for $41.8 million of Skilling's assets to be distributed as restitution to victims of Enron's 2001 collapse.

Skilling, 59, who has been in prison since 2006, declined to make a statement during Friday's hearing.

His attorney, Daniel Petrocelli, said he disagrees with claims that his client, who "still maintains his innocence," never expressed remorse for what happened at Enron. He said Skilling wasn't aware of the illegal activities of others but "took complete responsibility for all the actions" at the company.

Petrocelli said the reduction, combined with time off for good behavior and other factors, means Skilling is likely to be released by 2017.

During the hearing, prosecutor Patrick Stokes criticized Skilling for continuing "to cast himself as a victim" and said Skilling "is anything but a victim."

"Mr. Skilling was not only at the pinnacle of Enron, he was at the pinnacle of the fraud schemes," Stokes said.

Once the money from Skilling's assets is added, about $560 million in restitution will have been collected for victims of the Enron scandal, Stokes said.

Former Enron employee George Maddox said he still blames Skilling for his losing $1.3 million in retirement savings when Enron collapsed. Maddox worked for 30 years as a plant manager with the company.

"Long sentences are for no one but poor people," said Maddox, 79, who lives in the East Texas town of Van and is now supporting his 16-year-old grandson and himself mainly on Social Security income.

Even with the reduced sentence, Skilling's prison term is still the longest of those involved in the Enron scandal. He was the highest-ranking executive to be punished. Enron founder Kenneth Lay's similar convictions were vacated after he died of heart disease less than two months after his trial.

Philip Hilder, a Houston attorney who represented several ex-Enron executives who cooperated with prosecutors, called Skilling's new sentence "a fair resolution" to his case.

But Andrew Stoltmann, a Chicago-based attorney who represented 10 people who lost money in Enron's collapse, called the new sentence "a slap in the face" to ex-Enron workers and investors.

Skilling was convicted in 2006 on 19 counts of conspiracy, securities fraud, insider trading and lying to auditors for his role in the downfall of Houston-based Enron. The company, once the seventh-largest in the U.S., went bankrupt under the weight of years of illicit business deals and accounting tricks.

The U.S. Supreme Court said in 2010 that one of Skilling's convictions was flawed when it sharply curtailed the use of the "honest services" fraud law ? a short addendum to the federal mail and wire fraud statute that makes it illegal to scheme to deprive investors of "the intangible right to honest services."

The high court ruled prosecutors can use the law only in cases where evidence shows the defendant accepted bribes or kickbacks, and because Skilling's misconduct entailed no such things, he did not conspire to commit honest services fraud.

The Supreme Court told a lower court to decide whether he deserved a new trial; the lower court said no.

Enron's collapse put more than 5,000 people out of work, wiped out more than $2 billion in employee pensions and rendered worthless $60 billion in Enron stock. Its aftershocks were felt across Houston and the U.S. energy industry.

___

Follow Juan A. Lozano at http://www.twitter.com/juanlozano70 .

Source: http://news.yahoo.com/ex-enron-ceo-gets-10-years-cut-sentence-210206372.html

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Exclusive: FINRA beefs up policing of arbitrators

By Suzanne Barlyn

(Reuters) - Wall Street's industry-funded watchdog said it was beefing up oversight of its 6,500 securities arbitrators after one of them was criminally indicted and suspended from the practice of law but failed to properly disclose those legal run-ins.

The Financial Industry Regulatory Authority's new policy comes after Reuters asked questions about the background of Demetrio Timban, a Medford, New Jersey-based arbitrator who has become a central figure in a lawsuit between Goldman Sachs Group Inc and a wealthy investor. "In light of your questions, we reexamined our paneling process and initiated this change," a FINRA spokeswoman said in an email.

Timban was indicted by the state of New Jersey for practicing law without a license, although charges were later dropped under a state program to deal with nonviolent offenses. He was also reprimanded by a Michigan regulator for the New Jersey incident and passing $18,000 in bad checks.

Timban said in an interview that he had closed his New Jersey office and the check-writing incident was "accidental," as a family member was supposed to wire funds to cover the check. But FINRA said it did not learn of the New Jersey indictment for five months and that Timban failed to tell it about the Michigan problems altogether, while he arbitrated the Goldman case.

Investors and the securities industry must use FINRA's arbitration system to resolve their legal disputes, such as battles over brokers' signing bonuses or investor claims of mistreatment. Timban's failure to meet his obligations to disclose his legal problems led to questions about how FINRA polices its arbitrators and the reliability of their decisions.

In response to questions from Reuters over the past few days, a FINRA spokeswoman said late on Thursday that the regulator has adopted a new policy of conducting annual background checks on its arbitrators and an additional review before appointing arbitrators to a case. Previously, FINRA checked its arbitrators only when they applied, and required them to self-report new information, such as any legal troubles.

While FINRA's new policy is in response to the Timban matter, there have been other instances in which arbitrators have failed to self-report information, the spokeswoman said.

"The integrity of our arbitrator roster is of utmost importance to FINRA," she said.

The new policy could help weed out problem arbitrators early on and lead to fewer lawsuits seeking to overturn awards.

The change is "really at the heart of the fairness of the process," said Phil Aidikoff, a lawyer in Beverly Hills, Calif. who represents investors.

Terry Weiss, a lawyer for Greenberg Traurig LLP in Atlanta who represents brokerages, said the new policy might unearth extreme problems in an arbitrator's past, but it would not solve everything. Arbitrators may still be sloppy about not disclosing other facts that can reveal bias against a party, said Weiss, who declined to comment on the Goldman case.

FINRA began background checks for all new arbitrator applicants in 2003, covering everything from employment verification to potential criminal run-ins.

In 2009, the regulator took on a year-long project to run checks on about 4,000 arbitrators in its pool who had not been checked because they were already serving as arbitrators when the new system came in.

The check did not reveal any negative information about Timban, the FINRA spokeswoman said.

She said the regulator had taken numerous other steps in recent years to enhance disclosure by arbitrators, including training materials and newsletters. FINRA also looks into parties' allegations about arbitrators that occur during a case and relies on parties' evaluations of arbitrators at the end of each case to detect problems.

Arbitrators do not have to be lawyers and are typically paid $200 per half-day session.

GOLDMAN CASE

Timban has become a central figure in a lawsuit filed by the family investment vehicle of Richard Caruso, who founded Integra LifeSciences Holdings Corp in 1989. Goldman Sachs won the arbitration against the investment vehicle, Athena Venture Partners LP, which sought to recoup a $1.4 million loss.

Athena is claiming that Timban's legal troubles had an impact on its arbitration and is asking the U.S. District Court for the Eastern District of Pennsylvania to throw out the FINRA ruling, according to a June 7 court filing.

Timban was acting as a "public arbitrator" - one who is not affiliated with the securities industry and is typically more consumer-friendly than an industry arbitrator, said Athena's attorney, David Moffitt, in Wayne, Pennsylvania. Athena was depending on him in that role.

Had Timban disclosed his situation, been removed and replaced with a different public arbitrator, the case could have turned out differently, Moffitt said. Instead he abandoned the case in the wake of his problems with his Michigan law license, Athena alleged. That left the two remaining arbitrators in the case to decide themselves, Athena said.

A FINRA spokeswoman, however, said that Timban participated in the decision and agreed with the other two arbitrators.

A Goldman spokeswoman said the arbitrators' ruling was correct and that Athena's claims were not proven in arbitration. "We will continue to defend ourselves in any venue if necessary," she said.

Timban said he fulfilled his obligations in the Goldman case and that Athena was "reaching for straws."

(Reporting by Suzanne Barlyn with additional reporting by Ashley Lau; Editing by Linda Stern, Paritosh Bansal and Ryan Woo)

Source: http://news.yahoo.com/exclusive-finra-beefs-policing-arbitrators-050110767.html

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Instagram Video Already Has Ads

Instagram Video Already Has Ads

Instagram creator Kevin Systrom is unveiling video for Instagram literally as I write this and Lululemon is already using it for marketing.

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Did Other Celebs Deserve Walk of Fame Star More Than J.Lo?

Life is fleeting. Notoriety, even more so. But the star-shaped piece of sidewalk on the Hollywood Walk of Fame? It's got some staying power!

Source: http://www.ivillage.com/jennifer-lopez-receives-2500th-star-hollywood-walk-fame-did-another-celebrity-deserve-it-more/1-a-539732?dst=iv%3AiVillage%3Ajennifer-lopez-receives-2500th-star-hollywood-walk-fame-did-another-celebrity-deserve-it-more-539732

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Inside App Camp for Girls with lead developer Natalie Osten

Live from WWDC, I interviewed Natalie Osten, lead developer of App Camp for Girls, a new effort to get school-age girls interested in programming as a potential career choice. App Camp for Girls will kick off in Portland, OR this summer. The non-profit is raising funds on Indiegogo, and has blown past its initial goal of $50,000. Find out why App Camp for Girls is important what inspired Natalie Osten to get involved.

    


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Sunday, June 9, 2013

Science! Buzz Aldrin 'duets' with Thomas Dolby

By Randee Dawn, NBC News contributor

Buzz Aldrin is 83, and his greatest triumph may have been to be the second person to set foot on the Moon. Thomas Dolby is 54, and his greatest triumph may have been to put "She Blinded Me With Science" on the American charts in 1982.

Someone had the brilliant idea to pair them onstage to share a "duet" of Dolby's big hit at the Smithsonian's June 1 "The Future is Here" conference -- and the results may now supersede all their other great achievements.

OK, that's an overstatement. But Aldrin's enthusiastic shouts of "Science!" along with Dolby's electronic wizardry make for some magic moments, so nerdy that they swing all the way around to cool.

Check out the video!

Source: http://entertainment.nbcnews.com/_news/2013/06/07/18828291-buzz-aldrin-thomas-dolby-duet-on-she-blinded-me-with-science?lite

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Saturday, June 8, 2013

AT&T sees wireless growth improving in second quarter

NEW YORK (Reuters) - AT&T Inc said on Thursday it expects to report net wireless subscriber additions of about 500,000 for the second quarter, an improvement on its disappointing first quarter.

For the first quarter AT&T added 296,000 net subscribers, including 365,000 new subscribers using tablet computers and a net loss of 69,000 higher-value phone subscribers.

The No. 2 U.S. mobile service provider did not break out its second-quarter phone and tablet subscriber numbers in its statement issued ahead of an analyst meeting that evening.

It said that strong consolidated customer additions and investments in new growth opportunities would result in a year-over-year decline in second-quarter consolidated margins, which include both landline and wireless communications services.

While strong subscriber growth helps revenue it can hurt margins because it adds upfront costs as wireless service providers such as AT&T have to spend money for each new customer they add.

The company said that higher gross customer additions and an unchanged smartphone upgrade rate would result in wireless margins based on earnings before interest, tax, depreciation and amortization or EBITDA that are comparable to the first-quarter.

It also said it is seeing stronger U-verse broadband and TV subscriber growth than in the second quarter a year ago but it did not give specific numbers.

AT&T received a distribution of about $500 million from YP Holdings LLC, where it holds a minority stake, and about $550 million from its recent sale of shares in America Movil .

AT&T shares fell almost 1 percent to $35.50 in late trade after closing at $35.81 on the New York Stock Exchange.

(Reporting by Sinead Carew; Editing by Phil Berlowitz)

Source: http://news.yahoo.com/t-sees-wireless-growth-improving-second-quarter-003614521.html

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