Julian Newman’s Age and Size Stand Out, but So Does His Talent

Gary Bogdon for The New York Times

Newman plays and practices with intensity, sinking 100 free throws, 200 floaters and 200 jump shots every day.

ORLANDO, Fla. — The Downey Christian School varsity basketball team bursts from the locker room in single file, led by a boy 14 inches shorter than the next smallest player, four years younger than the next youngest.

His jersey straps are twisted and bound with plastic ties to prevent them from slipping down his bony 4-foot-5, 70-pound frame. Tricolor socks with pastel waves cover his feet, conveying the notion that he might be a stylish student manager.

At road games, the boy, point guard Julian Newman, is asked, “Are you on the team?” Here, in the Patriots’ gymnasium, there is no doubt.

The grand marshal of the player parade, Julian, an 11-year-old fifth grader, guides his team into warm-ups, bouncing two balls at once. He glides into a pregame routine that shuffles through jab steps, hesitation moves and effortless dribbles — between his pipestem legs, behind his back, rapid crossovers. The scene is incongruous enough to seem computer-animated.

Not long ago, Newman was a mere curio in the compact circle of sports programs at small Christian schools in Central Florida. But his age, his size and the wild contrast of his stature on the court with relative giants have brought global attention through Internet videos. The most watched clip of Julian has generated more than 1.27 million views on YouTube. It has prompted a visit from “Inside Edition,” an appearance on “Steve Harvey,” comments on Twitter by Baltimore Ravens players, coverage by news agencies from as far as China and a performance at an Orlando Magic game.

ScoutsFocus of Greenville, N.C., which evaluates and ranks high school players, helped put together the viral video that was filmed by a Patriots assistant.

“He’s a very talented kid and comes from a great family,” Joe Davis, the national recruiting coordinator for ScoutsFocus, said of Julian. “He’s smaller, so that’s going to be his main obstacle, but he has a great future once he hits a growth spurt or two.”

Two nights before his N.B.A. halftime performance, Julian said between bites of chicken tenders ordered from a children’s menu that he was working on a routine involving three basketballs. Despite his fame, he has maintained the same degree of obsession. There is little, if any, room for it to grow.

Julian fills his days by spending time in a gym or at the hoop in his front yard, where his father, Jamie, the Downey Christian coach, has painted lines to approximate a court. Julian sinks 100 free throws, 200 floaters and 200 jump shots every day. On 3-point attempts, he leans into the shots slightly, as if to guide the ball telepathically.

The process, on a good day, requires three hours, not that he is in a hurry. The neighbors have complained, Jamie said, that the thwonk of the ball has awakened them as late as 1 a.m.

Nor does bedtime necessarily close the book on his regimen. Lying on his bed, with 13 N.B.A. jerseys along with posters of Magic Johnson and LeBron James decorating the walls, with basketballs worn out within weeks scattered about, Julian soft-tosses a ball toward the ceiling, always perfecting his form, until nodding off.

By Julian’s reckoning, he has never taken off longer than two straight days, and then only to mend a sprained ankle. Before the Newmans go on vacations, he insists that a park or recreation center with a rim be nearby.

His mother, Vivian, was almost asked to leave a department store because Julian could not resist fetching a ball from sporting goods and dribbling it down the aisle. His wish lists for gifts are basketball-centric.

His scarce time on a computer is usually spent on the YouTube channel Superhandles. Operated by a former college player whose father exposed him at an early age to footage of Pete Maravich, as Julian was by his father, Superhandles features videos of dribbling drills and masterly moves. Julian commits them to memory, then goes to the closest court and mimics them.

The Newmans portray him as self-driven, a prodigy of sorts, eager to meet their basic requirements in order to pursue his. He earns straight A’s, they say, motivated by a policy effective enough to be every parent’s dream: homework before hoops. That explains why Julian used to knock out assignments during recess so he could start knocking down shots immediately after school.

His parents decline to impose time restrictions on basketball during weekends, holidays and summers.

“People say don’t put all your eggs in one basket,” Jamie said. “But it helps you.”

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Judge sets May trial date for Kardashian divorce

LOS ANGELES (AP) — Kim Kardashian has a due date for her baby and now a trial date for her divorce from NBA player Kris Humphries.

A judge on Friday set a May 6 trial for the reality TV star who wants to end her marriage before July, when her child with Kanye West is due.

Kardashian filed for divorce on Oct. 31, 2011, after she and Humphries had been married just 72 days. Their lavish, star-studded nuptials were recorded and broadcast by E! Entertainment Television.

The trial is expected to last three to five days and could reveal details about Kardashian's reality show empire, which includes "Keeping Up With the Kardashians" and several spinoffs.

Two judges determined Friday that Humphries' lawyers had adequate time to prepare for the trial.

Humphries wants the marriage annulled based on his claim that Kardashian only married him for the sake of her show.

She denies that allegation and says the case should be resolved through what would be her second divorce.

Humphries' attorney Marshall Waller asked for a delay until basketball season is over.

But Superior Court Judge Scott Gordon refused, saying firefighters, police officers, truck drivers and others have to miss work for trials, and Humphries must do the same if necessary.

Waller filed paperwork Thursday to withdraw from the case but didn't mention that development in court and refused to answer any questions about the document on Friday.

Waller said he was still hoping to obtain and review 13,000 hours of footage from Kardashian's reality shows to try to prove the fraud claim but noted he does not yet have an agreement to receive the footage.

Kardashian's lawyer said her client was ready for trial.

"Let's get this case dispensed with," attorney Laura Wasser said.

Humphries has provided a deposition in the case, as have West and Kardashian family matriarch Kris Jenner.

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Anthony McCartney can be reached at http://twitter.com/mccartneyAP

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Livestrong Tattoos as Reminder of Personal Connections, Not Tarnished Brand

As Jax Mariash went under the tattoo needle to have “Livestrong” emblazoned on her wrist in bold black letters, she did not think about Lance Armstrong or doping allegations, but rather the 10 people affected by cancer she wanted to commemorate in ink. It was Jan. 22, 2010, exactly a year since the disease had taken the life of her stepfather. After years of wearing yellow Livestrong wristbands, she wanted something permanent.

A lifelong runner, Mariash got the tattoo to mark her 10-10-10 goal to run the Chicago Marathon on Oct. 10, 2010, and fund-raising efforts for Livestrong. Less than three years later, antidoping officials laid out their case against Armstrong — a lengthy account of his practice of doping and bullying. He did not contest the charges and was barred for life from competing in Olympic sports.

“It’s heartbreaking,” Mariash, of Wilson, Wyo., said of the antidoping officials’ report, released in October, and Armstrong’s subsequent confession to Oprah Winfrey. “When I look at the tattoo now, I just think of living strong, and it’s more connected to the cancer fight and optimal health than Lance.”

Mariash is among those dealing with the fallout from Armstrong’s descent. She is not alone in having Livestrong permanently emblazoned on her skin.

Now the tattoos are a complicated, internationally recognized symbol of both an epic crusade against cancer and a cyclist who stood defiant in the face of accusations for years but ultimately admitted to lying.

The Internet abounds with epidermal reminders of the power of the Armstrong and Livestrong brands: the iconic yellow bracelet permanently wrapped around a wrist; block letters stretching along a rib cage; a heart on a foot bearing the word Livestrong; a mural on a back depicting Armstrong with the years of his now-stripped seven Tour de France victories and the phrase “ride with pride.”

While history has provided numerous examples of ill-fated tattoos to commemorate lovers, sports teams, gang membership and bands that break up, the Livestrong image is a complex one, said Michael Atkinson, a sociologist at the University of Toronto who has studied tattoos.

“People often regret the pop culture tattoos, the mass commodified tattoos,” said Atkinson, who has a Guns N’ Roses tattoo as a marker of his younger days. “A lot of people can’t divorce the movement from Lance Armstrong, and the Livestrong movement is a social movement. It’s very real and visceral and embodied in narrative survivorship. But we’re still not at a place where we look at a tattoo on the body and say that it’s a meaningful thing to someone.”

Geoff Livingston, a 40-year-old marketing professional in Washington, D.C., said that since Armstrong’s confession to Winfrey, he has received taunts on Twitter and inquiries at the gym regarding the yellow Livestrong armband tattoo that curls around his right bicep.

“People see it and go, ‘Wow,’ ” he said, “But I’m not going to get rid of it, and I’m not going to stop wearing short sleeves because of it. It’s about my family, not Lance Armstrong.”

Livingston got the tattoo in 2010 to commemorate his brother-in-law, who was told he had cancer and embarked on a fund-raising campaign for the charity. If he could raise $5,000, he agreed to get a tattoo. Within four days, the goal was exceeded, and Livingston went to a tattoo parlor to get his seventh tattoo.

“It’s actually grown in emotional significance for me,” Livingston said of the tattoo. “It brought me closer to my sister. It was a big statement of support.”

For Eddie Bonds, co-owner of Rabbit Bicycle in Hill City, S.D., getting a Livestrong tattoo was also a reflection of the growth of the sport of cycling. His wife, Joey, operates a tattoo parlor in front of their store, and in 2006 she designed a yellow Livestrong band that wraps around his right calf, topped off with a series of small cyclists.

“He kept breaking the Livestrong bands,” Joey Bonds said. “So it made more sense to tattoo it on him.”

“It’s about the cancer, not Lance,” Eddie Bonds said.

That was also the case for Jeremy Nienhouse, a 37-year old in Denver, Colo., who used a Livestrong tattoo to commemorate his own triumph over testicular cancer.

Given the diagnosis in 2004, Nienhouse had three rounds of chemotherapy, which ended on March 15, 2005, the date he had tattooed on his left arm the day after his five-year anniversary of being cancer free in 2010. It reads: “3-15-05” and “LIVESTRONG” on the image of a yellow band.

Nienhouse said he had heard about Livestrong and Armstrong’s own battle with the cancer around the time he learned he had cancer, which alerted him to the fact that even though he was young and healthy, he, too, could have cancer.

“On a personal level,” Nienhouse said, “he sounds like kind of a jerk. But if he hadn’t been in the public eye, I don’t know if I would have been diagnosed when I had been.”

Nienhouse said he had no plans to have the tattoo removed.

As for Mariash, she said she read every page of the antidoping officials’ report. She soon donated her Livestrong shirts, shorts and running gear. She watched Armstrong’s confession to Winfrey and wondered if his apology was an effort to reduce his ban from the sport or a genuine appeal to those who showed their support to him and now wear a visible sign of it.

“People called me ‘Miss Livestrong,’ ” Mariash said. “It was part of my identity.”

She also said she did not plan to have her tattoo removed.

“I wanted to show it’s forever,” she said. “Cancer isn’t something that just goes away from people. I wanted to show this is permanent and keep people remembering the fight.”

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Group of 20 Pledges to Let Markets Set Currency Values

MOSCOW — In a concerted move to quiet fears of a so-called currency war, finance officials from the world’s largest industrial and emerging economies expressed their commitment on Saturday to “market-determined exchange rate systems and exchange rate flexibility.”

In a statement issued at the conclusion of a conference here of the Group of 20, the finance ministers from the Group of 20 promised: “We will refrain from competitive devaluation. We will not target our exchange rates for competitive purposes.”

In its statement, the group also vowed to “take necessary collective actions” to discourage corporate tax evasion, particularly by preventing companies from shifting profits to avoid tax obligations. For instance, a number of big American companies, including Apple and Starbucks, have come under scrutiny recently for seeking out the friendliest tax jurisdictions.

Over all, the statement largely echoed one last week by seven top industrial nations pledging to let market exchange rates determine the value of their currencies. Currency devaluation can be used to gain competitive advantage because it makes a country’s exports cheaper.

“We all agreed on the fact that we refuse to enter any currency war,” the French finance minister, Pierre Moscovici, told reporters at the conference, which was held in a meeting center just a short walk from the Kremlin and Red Square.

In the statement on Saturday, the Group of 20 pointedly avoided any criticism of Japan, where stimulus programs backed by Prime Minister Shinzo Abe have kept interest rates near zero and flooded the economy with money — leading to a roughly 15 percent drop in the value of the yen against the dollar over the last three months.

The Japanese policies, which have reduced the cost of Japanese products around the world, were the primary cause of fears of a currency war.

In essence, the Group of 20 expressed a view that loose monetary policy, including steps that weaken currency values, are acceptable when used to stimulate domestic growth but should not be used to benefit in global trade.

Critics of that view say that it amounts to a distinction without a difference because loose monetary policies stimulate growth and bolster exports at the same time.

The United States has also used a loose monetary approach to aid in the economic recovery, in the form of “quantitative easing” by which the Federal Reserve buys tens of billions of dollars in bonds each month.

The chairman of the Federal Reserve, Ben S. Bernanke, who attended the conference in Moscow, gave brief remarks on Friday indicating support for Japan’s efforts.

Faster-growing, developing countries like Brazil and China have expressed concerns about the loose monetary policies of more established economies like Japan and the United States. The money created by policies like the Fed’s quantitative easing can prove destabilizing as it enters faster-growing economies.

The Group of 20 acknowledged this concern in its statement, saying: “Monetary policy should be directed toward domestic price stability and continuing to support economic recovery according to the respective mandates. We commit to monitor and minimize the negative spillovers on other countries of policies implemented for domestic purposes.”

As the three-day conference drew to a close, participants did not reach any new agreement on debt-cutting targets. Efforts to reach such a pact will continue at the annual Group of 20 summit meeting to be attended by President Obama and other world leaders in St. Petersburg in September.

But while the debt agreement was elusive, the Group of 20 leaders reiterated efforts to work together, promising to “resist all forms of protections and keep our markets open.”

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The Lede: Answering Readers' Questions About the Meteor Strikes

You asked us great meteor questions, readers, ones that went beyond the mere fact of the seriously cool video coming from all over Russia. But we wanted to give you a deeper look at the science behind bombardments from space, so we called in a respected source to help.

Clark R. Chapman is a senior scientist at the Southwest Research Institute in San Antonio and a pioneer in the field of asteroid threat assessment. He is co-author of the 1989 book, “Cosmic Catastrophes,” with David Morrison, a senior scientist at the NASA Ames Research Center in Mountain View, Calif.

#NYTScience @WilliamJBroad Was the Russia case an exceptional one or is the earth constantly hit by meteor (mostly in non inhabited places?

— Gilberto Gribaudo (@GilGribaudo) 15 Feb 13

This is an unusual strike. It will take a while for analysis of the videos, and presumably of the seismic records of the explosion, before we can estimate the size of the projectile. I’m guessing it’s a once-in-a-decade kind of event.

Why unusual?

It’s unusual in the sense that it’s rare. It’s not the kind of event that happens very often. Also, they’re talking about maybe 1,000 people injured and some in the hospital. I’m not aware of a strike that has caused that much injury. That’s because it hit in a somewhat populated part of Russia, instead of the ocean or the desert or the middle of Siberia where relatively few people would have got hurt.

What are the statistical odds of a meteor this size & how often does a meteor of any size hit earth? @nytscience @williamjbroad #NYTScience

— Kylie Sobel (@KylieSobel) 15 Feb 13

These things happen continually. This one was probably a few meters in diameter but they’re flying by the Earth all the time. And they hit – ones this big – maybe once in a decade. Things that would really devastate a city if they hit would occur maybe once every few centuries. It happens on a scale (of meteors small and large). Anyone living out in the countryside or a rural area, if the skies are clear, can look up at night and see apple-seed-size meteors hitting every few minutes, or at least every few hours.

Is the meteor that his Russia 2012 DA14, the same one everyone was talking about, or a different one? #NYTScience

— Sasha Smith (@SashaSmish) 15 Feb 13

Conceivably it could be part of a swarm, but it’s not associated with DA14 [the big asteroid that is to fly close by the Earth on Friday]. They’re on totally different trajectories. I don’t have the numbers in front of me, but their orbits are totally different. They both intersect the Earth, more or less, but the asteroid is moving maybe south to north and the Russian meteorite west to east. They’d have to be coming in the same direction to be part of a swarm. It’s a remarkable coincidence that what may be the most damaging meteor strike in modern history would happen on the same day as the closest passage of an asteroid as big as DA14.

How big is DA14?

It’s about 100 feet across.

Should we be scared? What can we do?

The estimated danger from a large impact has dropped in recent decades because of telescopic observations and sky surveys. We should continue to monitor the skies for undiscovered large asteroids and for very much smaller ones that could still be quite dangerous, depending on where they hit. We should continue to look.

No space telescope now searches for such threats. Would such a device help?

That kind of project wouldn’t find what hit Russia (as the asteroid was too small) but it would find ones that are much more dangerous. And once they were detected, we could warn people. We could say, “It’s going to hit such an area at a certain time on a certain day and you should stay away from the windows.” You could provide warning of impacts that could be dangerous.

Could we divert a planetary threat?

If it’s found early enough – quite a few years in advance of its hitting – then NASA and the European Space Agency and other space agencies have the technology to divert the asteroid so it would miss the Earth.

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Charlie Sheen pays for injured teen's therapy dog

MILWAUKEE (AP) — MILWAUKEE (AP) — There's a 15-year-old Florida girl who didn't really know much about Charlie Sheen before this week — but does now.

The actor wired $10,000 to Teagan Marti and her family on Thursday for a therapy dog to help in her rehabilitation from injuries sustained when she plummeted 100 feet from a Wisconsin amusement park ride in 2010.

"I think he's a very kind person for helping me and my family and very generous," Teagan Marti said by phone Thursday from her home in Parkland, Fla.

Teagan Marti suffered brain, spine, pelvis and internal injuries in July 2010 when nets and air bags that were supposed to catch riders on a free-fall ride were not raised. She had convinced her family to make the trip from Florida to Extreme World in Wisconsin Dells after seeing the amusement park's Terminal Velocity ride on the Travel Channel.

She was hospitalized in Wisconsin and Florida for three months. She initially had no use of her arms or legs but through physical therapy is able to walk again with a walker.

Teagan Marti's mother, Julie Marti, said they are financially in trouble from the medical bills and her recent divorce. Their house is being foreclosed upon and insurance isn't covering physical therapy anymore, she said. She had no idea how they would pay for the English Golden Retriever puppy.

"I'm in such disbelief," Julie Marti said. "I was crying. ... What a guy. What a guy."

The dog is being trained in Fond du Lac to turn on lights, pick up objects and be the teen's constant companion.

Lucia Wilgus, of Eau Claire, became friends with the Martis after hearing of the accident and has spearheaded fundraising and helped find the dog and arrange training.

She sent a letter this week to Sheen through Sheen's godfather, who is a Wilgus family friend and Benedictine brother in the Benet Lake, Wis. She estimated the training and related costs would be around $6,000.

Sheen said he decided to give more for extra costs. The request had a "personal vibe" since it came through his godfather, and "if there's a need for more I told them to call me," he said.

"I like to pay it forward," Sheen said Thursday in a phone interview from Los Angeles. "People come into your orbit for a reason. You don't always know what that is ahead of time, but if I ignore these requests then I don't have any opportunity to see where these things lead us, or lead me."

He said he doesn't like to publicize most of his donations, but wanted to talk about this one to inspire others to donate.

Teagan Marti gets the dog on her birthday in September but hasn't made up her mind on a name.

"I think they should name the dog Charlie," Sheen joked.

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Follow Carrie Antlfinger at http://twitter.com/@antltoe

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DealBook: Confidence on Upswing, Mergers Make Comeback

The mega-merger is back.

For the corporate takeover business, the last half-decade was a fallow period. Wall Street deal makers and chief executives, brought low by the global financial crisis, lacked the confidence to strike the audacious multibillion-dollar acquisitions that had defined previous market booms.

Cycles, however, turn, and in the opening weeks of 2013, merger activity has suddenly roared back to life. On Thursday, Berkshire Hathaway, the conglomerate run by Warren E. Buffett, said it had teamed up with Brazilian investors to buy the ketchup maker H. J. Heinz for about $23 billion. And American Airlines and US Airways agreed to merge in a deal valued at $11 billion.

Those transactions come a week after a planned $24 billion buyout of the computer company Dell by its founder, Michael S. Dell, and private equity backers. And Liberty Global, the company controlled by the billionaire media magnate John C. Malone, struck a $16 billion deal to buy the British cable business Virgin Media.

“Since the crisis, one by one, the stars came into alignment, and it was only a matter of time before you had a week like we just had,” said James B. Lee Jr., the vice chairman of JPMorgan Chase.

Still, bankers and lawyers remain circumspect, warning that it is still too early to declare a mergers-and-acquisitions boom like those during the junk bond craze of 1989, the dot-com bubble of 1999 and the leveraged buyout bonanza of 2007. They also say that it is important to pay heed to the excesses that developed during these moments of merger mania, which all ended badly.

A confluence of factors has driven the recent deals. Most visibly, the stock market has been on a tear, with the Standard & Poor’s 500-stock index this week briefly hitting its highest levels since November 2007. Higher share prices have buoyed the confidence of chief executives, who now, instead of retrenching, are looking for ways to expand their businesses.

A number of clouds that hovered over the markets last year have also been removed, eliminating the uncertainty that hampered deal making. Mergers and acquisitions activity in 2012 remained tepid as companies took a wait-and-see approach over the outcome of the presidential election and negotiations over the fiscal cliff. The problems in Europe, which began in earnest in 2011, shut down a lot of potential transactions, but the region has since stabilized.

“When we talk to our corporate clients as well as the bankers, we keep hearing them talk about increased confidence,” said John A. Bick, a partner at the law firm Davis Polk & Wardwell, who advised Heinz on its acquisition by Mr. Buffett and his partners.

Mr. Bick said that mega-mergers had a psychological component, meaning that once transactions start happening, chief executives do not want to be left behind. “In the same way that success breeds success, deals breed more deals,” he said.

A central reason for the return of big transactions is the mountain of cash on corporate balance sheets. After the financial crisis, companies hunkered down, laying off employees and cutting costs. As a result, they generated savings. Today, corporations in the S.& P. 500 are sitting on more than $1 trillion in cash. With interest rates near zero, that money is earning very little in bank accounts, so executives are looking to put it to work by acquiring businesses.

The private equity deal-making machine is also revving up again. The world’s largest buyout firms have hundreds of billions of dollars of “dry powder” — money allotted to deals in Wall Street parlance — and they are on the hunt. The proposed leveraged buyout of Dell, led by Mr. Dell and the investment firm Silver Lake Partners, was the largest private equity transaction since July 2007, when the Blackstone Group acquired the hotel chain Hilton Worldwide for $26 billion just as the credit markets were seizing up.

But perhaps the single biggest factor driving the return of corporate takeovers is the banking system’s renewed health. Corporations often rely on bank loans for financing acquisitions, and the ability of private equity firms to strike multibillion-dollar transactions depends on the willingness of banks to lend them money.

For years, banks, saddled by the toxic mortgage assets weighing on their balance sheets, turned off the lending spigot. But with the housing crisis in the rearview mirror and economic conditions slowly improving, banks are again lining up to provide corporate loans at record-low interest rates to finance acquisitions.

The banks, of course, are major beneficiaries of megadeals, earning big fees from both advising on the transactions and lending money to finance them. Mergers and acquisitions in the United States total $158.7 billion so far this year, according to Thomson Reuters data, more than double the amount in the same period last year. JPMorgan, for example, has benefited from the surge, advising on four big deals in recent weeks, including the Dell bid and Comcast’s $16.7 billion offer for the rest of NBCUniversal that it did not already own.

Mr. Buffett, in a television interview last month, declared that the banks had repaired their businesses and no longer posed a threat to the economy. “The capital ratios are huge, the excesses on the asset aside have been largely cleared out,” said Mr. Buffett, whose acquisition of Heinz will be his second-largest acquisition, behind his $35.9 billion purchase of a majority stake in the railroad company Burlington Northern Santa Fe in 2009.

While Wall Street has an air of giddiness over the year’s start, most deal makers temper their comments about the current environment with warnings about undisciplined behavior like overpaying for deals and borrowing too much to pay for them.

Though private equity firms were battered by the financial crisis, they made it through the downturn on relatively solid ground. Many of their megadeals, like Hilton, looked destined for bankruptcy after the markets collapsed, but they have since recovered. The deals have benefited from an improving economy, as well as robust lending markets that allowed companies to push back the large amounts of debt that were to have come due in the next few years.

But there are still plenty of cautionary tales about the consequences of overpriced, overleveraged takeovers. Consider Energy Future Holdings, the biggest private equity deal in history. Struck at the peak of the merger boom in October 2007, the company has suffered from low natural gas prices and too much debt, and could be forced to restructure this year. Its owners, a group led by Kohlberg Kravis Roberts and TPG, are likely to lose billions.

Even Mr. Buffett made a mistake on Energy Future Holdings, having invested $2 billion in the company’s bonds. He admitted to shareholders last year that the investment was a blunder and would most likely be wiped out.

“In tennis parlance,” Mr. Buffett wrote, “this was a major unforced error.”

Michael J. de la Merced contributed reporting.

A version of this article appeared in print on 02/15/2013, on page A1 of the NewYork edition with the headline: Confidence on Upswing, Mergers Make Comeback.

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DealBook: Buffett to Pay $23 Billion for Heinz, as Big Mergers Revive

10:12 a.m. | Updated

Warren E. Buffett has found another American icon worth buying: H. J. Heinz.

Berkshire Hathaway, the giant conglomerate that Mr. Buffett runs, said on Thursday that it would buy the food giant for about $23 billion, adding Heinz ketchup to its stable of prominent brands.

The proposed acquisition, coming fast on the heels of a planned $24 billion buyout of the computer maker Dell and a number of smaller deals, heralds a possible reemergence in merger activity.  The number of deals and the prices being paid for companies are still a far cry from the lofty heights of the boom before the financial crisis.  But an improving stock market, growing confidence among business executives and mounting piles of cash held by corporations and private equity funds all favor a return to deal-making. 

Mr. Buffett is teaming up with 3G Capital Management, a Brazilian-backed investment firm that owns a majority stake in a company whose business is complementary to Heinz’s: Burger King.

Under the terms of the deal, Berkshire and 3G will pay $72.50 a share, about 20 percent above Heinz’s closing price on Wednesday. Including debt, the transaction is valued at $28 billion.

“This is my kind of deal and my kind of partner,” Mr. Buffett told CNBC on Thursday. “Heinz is our kind of company with fantastic brands.”

In many ways, Heinz fits Mr. Buffett’s deal criteria almost to a T. It has broad brand recognition – besides ketchup, it owns Ore-Ida and Lea & Perrins Worcestershire sauce – and has performed well. Over the last 12 months, its stock has risen nearly 17 percent.

Mr. Buffett told CNBC that he had a file on Heinz dating back to 1980. But the genesis of Thursday’s deal actually lies with 3G, an investment firm backed by several wealthy Brazilian families, according to a person with direct knowledge of the matter.

One of the firm’s principal backers, Jorge Paulo Lemann, brought the idea of buying Heinz to Berkshire about two months ago, this person said. Mr. Buffett agreed, and the two sides approached Heinz’s chief executive, William R. Johnson, about buying the company.

“We look forward to partnering with Berkshire Hathaway and 3G Capital, both greatly respected investors, in what will be an exciting new chapter in the history of Heinz,” Mr. Johnson said in a statement.

Berkshire and 3G will each contribute about $4 billion in cash to pay for the deal, with Berkshire also paying $8 billion for preferred shares. The rest of the cost will be covered by debt financing raised by JPMorgan Chase and Wells Fargo.

Mr. Buffett told CNBC that 3G would be the primary supervisor of Heinz’s operations, saying, “Heinz will be 3G’s baby.”

The food company’s headquarters will remain in Pittsburgh, Heinz’s home for over 120 years.

Heinz’s stock was up nearly 20 percent in morning trading, at $72.51, closely mirroring the offered price. Berkshire’s class A stock was also up slightly, rising 0.64 percent to $148,691 a share.

Heinz was advised by Centerview Partners, Bank of America Merrill Lynch and the law firm Davis Polk & Wardwell. A transaction committee of the company’s board was advised by Moelis & Company and Wachtell, Lipton, Rosen & Katz.

Berkshire’s and 3G’s lead adviser was Lazard, with JPMorgan and Wells Fargo providing additional advice. Kirkland & Ellis provided legal advice to 3G, while Berkshire relied on its usual law firm, Munger, Tolles & Olson.

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Designer admits molesting wannabe model in NYC

NEW YORK (AP) — A fashion designer convicted in California of molesting would-be models pleaded guilty Thursday in New York to a similar charge in a deal prosecutors said was brokered to spare victims from testifying multiple times.

Anand Jon Alexander admitted to one count of criminal sexual act and was sentenced to five years for sexually assaulting a woman he baited with the promise of modeling work.

He had initially been charged with preying on a dozen women, but the figure then dropped down to three. Prosecutors said some of the victims were minors, and some were drugged when he forced himself on them. They say he told one teenager not to report the rape to authorities.

Alexander is already serving 59 years to life in California in a similar case, where some New York victims testified, said Assistant District Attorney Maxine Rosenthal. He's also facing similar charges in Texas, she said. Prosecutors agreed to the deal in part "to spare the victims from having to testify at multiple proceedings" and because he is already serving substantial prison time.

Alexander, who wore a form-fitting gray suit, disputed the reason for the deal in court but didn't elaborate. The New York prison time amounts to time served, so no years will be tacked onto his California sentence, his attorney said.

Born in India, Alexander — known professionally as Anand Jon — launched a fashion line in 1999 and built it into a high-flying career. He was featured on "America's Next Top Model," worked with such celebrities as Paris Hilton and Mary J. Blige and was among 20 people profiled by Newsweek in 2006 as up-and-coming players in various industries.

Then sex assault allegations against Alexander began surfacing in 2007. He was convicted in Los Angeles the next year of sexually assaulting seven women and girls, some as young as 14.

Alexander's attorney said after the plea that he admitted to the crime so he could get evidence and materials from New York prosecutors needed to "effectively overturn his California conviction."

"Considering the initial 49 charges included allegations of rape, drugging and mafia death threats, the settlement of one conviction involving Mr. Alexander's giving oral sex to an adult female was acceptable," they said in a statement.

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Life, Interrupted: Crazy, Unsexy Cancer Tips

Life, Interrupted

Suleika Jaouad writes about her experiences as a young adult with cancer.

Every few weeks I host a “girls’ night” at my apartment in Lower Manhattan with a group of friends who are at various stages in their cancer treatments. Everyone brings something to eat and drink, and we sit around my living room talking to one another about subjects both heavy and light, ranging from post-chemo hair styling tips, fears of relapse or funny anecdotes about a recent hospital visit. But one topic that doesn’t come up as often as you might think — particularly at a gathering of women in their early 20s and 30s — is sex.

Actually, I almost didn’t write this column. Time and again, I’ve sat down to write about sex and cancer, but each time I’ve deleted the draft and moved on to a different topic. Writing about cancer is always a challenge for me because it hits so close to home. And this topic felt even more difficult. After my diagnosis at age 22 with leukemia, the second piece of news I learned was that I would likely be infertile as a result of chemotherapy. It was a one-two punch that was my first indication that issues of cancer and sexual health are inextricably tied.

But to my surprise, sex is not at the center of the conversation in the oncology unit — far from it. No one has ever broached the topic of sex and cancer during my diagnosis and treatment. Not doctors, not nurses. On the rare occasions I initiated the conversation myself, talking about sex and cancer felt like a shameful secret. I felt embarrassed about the changes taking place in my body after chemotherapy treatment began — changes that for me included hot flashes, infertility and early menopause. Today, at age 24, when my peers are dating, marrying and having children of their own, my cancer treatments are causing internal and external changes in my body that leave me feeling confused, vulnerable, frustrated — and verifiably unsexy.

When sex has come up in conversations with my cancer friends, it’s hardly the free-flowing, liberating conversation you see on television shows like HBO’s “Girls” or “Sex and the City.” When my group of cancer friends talk about sex — maybe it’s an exaggeration to call it the blind leading the blind — we’re just a group of young women who have received little to no information about the sexual side effects of our disease.

One friend worried that sex had become painful as a result of pelvic radiation treatment. Another described difficulty reaching orgasm and wondered if it was a side effect of chemotherapy. And yet another talked about her oncologist’s visible discomfort when she asked him about safe birth control methods. “I felt like I was having a conversation with my uncle or something,” she told me. As a result, she turned to Google to find out if she could take a morning-after pill. “I felt uncomfortable with him and had nowhere to turn,” she said.

This is where our conversations always run into a wall. Emotional support — we can do that for one another. But we are at a loss when it comes to answering crucial medical questions about sexual health and cancer. Who can we talk to? Are these common side effects? And what treatments or remedies exist, if any, for the sexual side effects associated with cancer?

If mine and my girlfriends’ experiences are indicative of a trend, then the way women with cancer are being educated about their sexual health is not by their health care providers but on their own. I was lucky enough to meet a counselor who specializes in the sexual health of cancer patients at a conference for young adult cancer patients. Sage Bolte, a counselor who works for INOVA Life With Cancer, a Virginia-based nonprofit organization that provides free resources for cancer patients, was the one to finally explain to me that many of the sexual side effects of cancer are both normal and treatable.

“Part of the reason you feel shame and embarrassment about this is because no one out there is saying this is normal. But it is,” Dr. Bolte told me. “Shame on us as health care providers that we have not created an environment that is conducive to talking about sexual health.”

Dr. Bolte said part of the problem is that doctors are so focused on saving a cancer patient’s life that they forget to discuss issues of sexual health. “My sense is that it’s not about physicians or health care providers not caring about your sexual health or thinking that it’s unimportant, but that cancer is the emergency, and everything else seems to fall by the wayside,” she said.

She said that one young woman she was working with had significant graft-versus-host disease, a potential side effect of stem cell transplantation that made her skin painfully sensitive to touch. Her partner would try to hold her hand or touch her stomach, and she would push him away or jump at his touch. It only took two times for him to get the message that “she didn’t want to be touched,” Dr. Bolte said. Unfortunately, by the time they showed up at Dr. Bolte’s office and the young woman’s condition had improved, she thought her boyfriend was no longer attracted to her. Her boyfriend, on the other hand, was afraid to touch her out of fear of causing pain or making an unwanted pass. All that was needed to help them reconnect was a little communication.

Dr. Bolte also referred me to resources like the American Association of Sexuality Educators, Counselors and Therapists; the Society for Sex Therapy and Research; and the Association of Oncology Social Workers, all professional organizations that can help connect cancer patients to professionals trained in working with sexual health issues and the emotional and physical concerns related to a cancer diagnosis.

I know that my girlfriends and I are not the only women out there who are wondering how to help themselves and their friends answer difficult questions about sex and cancer. Sex can be a squeamish subject even when cancer isn’t part of the picture, so the combination of sex and cancer together can feel impossible to talk about. But women like me and my friends shouldn’t have to suffer in silence.

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Suleika Jaouad (pronounced su-LAKE-uh ja-WAD) is a 24-year-old writer who lives in New York City. Her column, “Life, Interrupted,” chronicling her experiences as a young adult with cancer, appears regularly on Well. Follow @suleikajaouad on Twitter.

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