DealBook: At Davos, Financial Leaders Debate Reform and Monetary Policy

DAVOS, Switzerland — Jamie Dimon, the chief executive of JPMorgan Chase, apologized again for the bank’s recent $6 billion trading loss, this time in front of an audience that included the elite of the financial world. But in keeping with his confident demeanor, it was a diet portion of humble pie.

“If you’re a shareholder of mine, I apologize,” Mr. Dimon said at the World Economic Forum annual meeting here. But he quickly added, “We did have record profits. Life goes on.”

During an often contentious panel discussion in Davos that included several other bank executives, Mr. Dimon clashed with a top official of the International Monetary Fund about whether the banking system was still too dangerous.

Zhu Min, deputy director of the I.M.F., said the financial industry was too large in proportion to the economy. More than four years after the financial crisis, Mr. Min noted that banks still operated on too much borrowed money and still traded in overly complicated derivatives that were impossible for outsiders to understand.

“The whole financial sector is too big,” Mr. Min said.

Mr. Dimon responded that JPMorgan was fulfilling its duty to lend to businesses and governments. He said JPMorgan and other banks no longer dealt with subprime mortgages and some of the other complex financial concoctions that led to the crisis. He also said JPMorgan had not abandoned Spain or Italy despite the risks in those highly indebted countries.

“Everyone I know is trying to do a good job for their clients,” Mr. Dimon said during a debate moderated by Maria Bartiromo of the cable channel CNBC on the opening day of the meeting.

During the same discussion, Axel Weber, the chairman of UBS and former president of the Bundesbank, harshly criticized the European Central Bank and other central banks for keeping interest rates at record lows.

Mr. Weber said it was wrong to combat a crisis caused by excessive borrowing by encouraging even more borrowing. Record low official interest rates and other extraordinary measures to pump cash into the economy would eventually backfire, he said.

“We are trying to solve the crisis with more leveraging,” he said. “We are having a better life at the expense of future generations.”

Mr. Weber was once the front-runner to become president of the European Central Bank. But he resigned as head of the German central bank in 2011 after clashing with other members of the E.C.B. governing council over its purchases of euro zone government bonds.

Mario Draghi, who became president of the European Central Bank instead, has since calmed financial markets with a promise to buy government bonds in whatever amounts needed to contain borrowing costs for countries like Spain.

“I haven’t changed my views too much” on bond purchases, said Mr. Weber, who did not mention Mr. Draghi by name.

Mr. Weber has since presided over attempts by UBS to deal with the aftermath of the financial crisis and wrongdoing by some bank employees. UBS, based in Zurich, agreed to pay a $1.5 billion fine as part of a settlement last month over the manipulation of crucial benchmarks used to set mortgage and other interest rates.

“There have been excesses,” Mr. Weber said on Wednesday. “We need to fix them and move forward.”

Participants in the panel agreed that new bank regulations had fallen far short of what was needed to prevent problems at individual lenders from causing wider economic and financial crises, though they disagreed on what could be done better.

“We just experienced the worst financial crisis since the 1930s,” Mr. Min of the I.M.F. said. “We’re not safer yet.”

Mr. Dimon said conditions for economic growth were good “if we do all the right things.”

“If not,” he added, “we could be experiencing crises for another 10 years.”

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Car Bombs in Iraq Kill at Least 17


Hadi Mizban/Associated Press


The aftermath of a car bombing in Baghdad on Tuesday.









BAGHDAD (AP) — A string of attacks, including three car bombings in and around Baghdad, killed at least 22 people Tuesday, deepening fears of a surge in violence as sectarian tensions fester in Iraq.




Although there was no immediate claim of responsibility, blame is likely to fall on Sunni insurgents such as al-Qaida's local franchise for Tuesday's bloodshed. The group often uses indiscriminate attacks to sow fear among Iraq's Shiite majority and undermine the government's authority.


It was at least the fourth day this year that insurgents overcame security measures to carry out high-profile attacks claiming at least 20 lives. Over a two-day stretch alone last week, a series of what appeared to be coordinated bombings and other strikes killed nearly 60 people.


The upsurge in violence has coincided with a wave of Sunni-led protests against Prime Minister Nouri al-Maliki's Shiite-led government over what they see as unfair treatment of their sect.


Tuesday's attacks began when a parked car exploded at a security checkpoint in Mahmoudiya, about 30 kilometers (20 miles) south of the Iraqi capital. The blast killed five people, including two soldiers who were manning the checkpoint, and wounded 15, according to police.


A second car bomb, this one detonated by a suicide attacker, went off near a checkpoint in the northern Baghdad suburb of Taji, killing seven people and wounding 26.


Nasseer Rahman, a 35-year-old teacher, said he was sitting in a minibus waiting to pass the checkpoint when the bomb exploded about 120 meters (yards) away.


"The useless checkpoint was the reason for the high casualties because dozens of cars were backed up in long lines before (it) got hit," he said. "As soon as the blast struck, we got off the minibus and ran to the site of the explosion. We saw several cars on fire and pools of blood, and everybody was screaming for help."


Later in the day, another parked car loaded with explosives blew up in the predominantly Shiite neighborhood of Shula in northwestern Baghdad, killing five and wounding 15, police said. The blast left several cars charred and mangled.


Medics at a nearby hospital confirmed the casualties. All officials spoke on condition of anonymity because they were not authorized to speak to the media.


Elsewhere, gunmen killed two government employees and three guards as they were transporting salaries between oil facilities near Beiji, which is home to Iraq's largest oil refinery, about 155 miles (250 kilometers) north of Baghdad.


Police have launched a manhunt for the assailants, who made off with the money, according to Beiji mayor Abid al-Awadh.


Al-Qaida and other insurgent groups occasionally carry out brazen robberies in order to finance further attacks.


Violence has fallen since the peak of the insurgency in Iraq several years ago, but lethal attacks launched primarily by Sunni extremists still occur frequently. The attacks exacerbate Iraq's struggle to maintain stability amid a series of political crises that have wracked the country since the U.S. military withdrawal in December 2011.


The violence comes amid rising ethnic and sectarian tension following the arrest last month of bodyguards assigned to the Sunni Finance Minister Rafia al-Issawi.


The detentions sparked a wave of demonstrations that have swept the Sunni-dominated Anbar province as well as other parts of the country where Iraq's minority Sunnis live.


The protesters, who are rallying against alleged discrimination by the Shiite-led government, demand the release of detainees and want to overturn policies including a tough counterterrorism law that they believe unfairly target their sect.


Al-Maliki earlier this month set up a government committee charged with looking into the protesters' demands. It has focused so far on freeing detainees in an apparent effort to quell the demonstrations.


Deputy Prime Minister Hussain al-Shahristani, one of the prime minister's most trusted political allies, announced Tuesday that more than 1,000 inmates have been set free since the panel began its work.


A delegation of United Nations officials traveled to the Anbar provincial capital of Ramadi on Tuesday to meet with protesters and local officials to better understand their demands, said Eliana Nabaa, a U.N. spokeswoman in Baghdad.


___


Associated Press writer Sameer N. Yacoub contributed to this report.


___


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Is Facebook envy making you miserable?






LONDON (Reuters) – Witnessing friends’ vacations, love lives and work successes on Facebook can cause envy and trigger feelings of misery and loneliness, according to German researchers.


A study conducted jointly by two German universities found rampant envy on Facebook, the world’s largest social network that now has over one billion users and has produced an unprecedented platform for social comparison.






The researchers found that one in three people felt worse after visiting the site and more dissatisfied with their lives, while people who browsed without contributing were affected the most.


“We were surprised by how many people have a negative experience from Facebook with envy leaving them feeling lonely, frustrated or angry,” researcher Hanna Krasnova from the Institute of Information Systems at Berlin’s Humboldt University told Reuters.


“From our observations some of these people will then leave Facebook or at least reduce their use of the site,” said Krasnova, adding to speculation that Facebook could be reaching saturation point in some markets.


Researchers from Humboldt University and from Darmstadt’s Technical University found vacation photos were the biggest cause of resentment with more than half of envy incidents triggered by holiday snaps on Facebook.


Social interaction was the second most common cause of envy as users could compare how many birthday greetings they received to those of their Facebook friends and how many “likes” or comments were made on photos and postings.


“Passive following triggers invidious emotions, with users mainly envying happiness of others, the way others spend their vacations and socialize,” the researchers said in the report “Envy on Facebook: A Hidden Threat to Users’ Life Satisfaction?” released on Tuesday.


“The spread and ubiquitous presence of envy on Social Networking Sites is shown to undermine users’ life satisfaction.”


They found people aged in their mid-30s were most likely to envy family happiness while women were more likely to envy physical attractiveness.


These feelings of envy were found to prompt some users to boast more about their achievements on the site run by Facebook Inc. to portray themselves in a better light.


Men were shown to post more self-promotional content on Facebook to let people know about their accomplishments while women stressed their good looks and social lives.


The researchers based their findings on two studies involving 600 people with the results to be presented at a conference on information systems in Germany in February.


The first study looked at the scale, scope and nature of envy incidents triggered by Facebook and the second at how envy was linked to passive use of Facebook and life satisfaction.


The researchers said the respondents in both studies were German but they expected the findings to hold internationally as envy is a universal feeling and possibly impact Facebook usage.


“From a provider’s perspective, our findings signal that users frequently perceive Facebook as a stressful environment, which may, in the long-run, endanger platform sustainability,” the researchers concluded.


(Reporting by Belinda Goldsmith, editing by Paul Casciato)


Internet News Headlines – Yahoo! News





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James Franco explores leather, sex at Sundance


PARK CITY, Utah (AP) — There's a lot of leather and sex in James Franco's life right now.


The 34-year-old actor-director is part of three movies at the Sundance Film Festival that deal with sex, pornography and bondage, and discipline.


In an interview at the independent-film showcase in Park City, Utah, he said, "I guess I'm drawn to it."


Franco co-directed, produced and stars in "Interior. Leather Bar." He produced the documentary "kink." And he plays Hugh Hefner in "Lovelace," which premieres Tuesday at Sundance.


"Interior. Leather Bar." is a reimagining of the segments cut from William Friedkin's 1980 film, "Cruising," so it could earn an R rating. "Kink" is about Kink.com, the leading producer of bondage-and-discipline pornography. "Lovelace" is about "Deep Throat" star Linda Lovelace.


Franco says the timing is just coincidental.


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Well Pets: Holly the Cat's Incredible Journey

Nobody knows how it happened: an indoor house cat who got lost on a family excursion managing, after two months and about 200 miles, to return to her hometown.

Even scientists are baffled by how Holly, a 4-year-old tortoiseshell who in early November became separated from Jacob and Bonnie Richter at an R.V. rally in Daytona Beach, Fla., appeared on New Year’s Eve — staggering, weak and emaciated — in a backyard about a mile from the Richters’ house in West Palm Beach.

“Are you sure it’s the same cat?” wondered John Bradshaw, director of the University of Bristol’s Anthrozoology Institute. In other cases, he has suspected, “the cats are just strays, and the people have got kind of a mental justification for expecting it to be the same cat.”

But Holly not only had distinctive black-and-brown harlequin patterns on her fur, but also an implanted microchip to identify her.

“I really believe these stories, but they’re just hard to explain,” said Marc Bekoff, a behavioral ecologist at the University of Colorado. “Maybe being street-smart, maybe reading animal cues, maybe being able to read cars, maybe being a good hunter. I have no data for this.”

There is, in fact, little scientific dogma on cat navigation. Migratory animals like birds, turtles and insects have been studied more closely, and use magnetic fields, olfactory cues, or orientation by the sun.

Scientists say it is more common, although still rare, to hear of dogs returning home, perhaps suggesting, Dr. Bradshaw said, that they have inherited wolves’ ability to navigate using magnetic clues. But it’s also possible that dogs get taken on more family trips, and that lost dogs are more easily noticed or helped by people along the way.

Cats navigate well around familiar landscapes, memorizing locations by sight and smell, and easily figuring out shortcuts, Dr. Bradshaw said.

Strange, faraway locations would seem problematic, although he and Patrick Bateson, a behavioral biologist at Cambridge University, say that cats can sense smells across long distances. “Let’s say they associate the smell of pine with wind coming from the north, so they move in a southerly direction,” Dr. Bateson said.

Peter Borchelt, a New York animal behaviorist, wondered if Holly followed the Florida coast by sight or sound, tracking Interstate 95 and deciding to “keep that to the right and keep the ocean to the left.”

But, he said, “nobody’s going to do an experiment and take a bunch of cats in different directions and see which ones get home.”

The closest, said Roger Tabor, a British cat biologist, may have been a 1954 study in Germany in which cats placed in a covered circular maze with exits every 15 degrees most often exited in the direction of their homes, but more reliably if their homes were less than five kilometers away.

New research by the National Geographic and University of Georgia’s Kitty Cams Project, using video footage from 55 pet cats wearing video cameras on their collars, suggests cat behavior is exceedingly complex.

For example, the Kitty Cams study found that four of the cats were two-timing their owners, visiting other homes for food and affection. Not every cat, it seems, shares Holly’s loyalty.

KittyCams also showed most of the cats engaging in risky behavior, including crossing roads and “eating and drinking substances away from home,” risks Holly undoubtedly experienced and seems lucky to have survived.

But there have been other cats who made unexpected comebacks.

“It’s actually happened to me,” said Jackson Galaxy, a cat behaviorist who hosts “My Cat From Hell” on Animal Planet. While living in Boulder, Colo., he moved across town, whereupon his indoor cat, Rabbi, fled and appeared 10 days later at the previous house, “walking five miles through an area he had never been before,” Mr. Galaxy said.

Professor Tabor cited longer-distance reports he considered credible: Murka, a tortoiseshell in Russia, traveling about 325 miles home to Moscow from her owner’s mother’s house in Voronezh in 1989; Ninja, who returned to Farmington, Utah, in 1997, a year after her family moved from there to Mill Creek, Wash.; and Howie, an indoor Persian cat in Australia who in 1978 ran away from relatives his vacationing family left him with and eventually traveled 1,000 miles to his family’s home.

Professor Tabor also said a Siamese in the English village of Black Notley repeatedly hopped a train, disembarked at White Notley, and walked several miles back to Black Notley.

Still, explaining such journeys is not black and white.

In the Florida case, one glimpse through the factual fog comes on the little cat’s feet. While Dr. Bradshaw speculated Holly might have gotten a lift, perhaps sneaking under the hood of a truck heading down I-95, her paws suggest she was not driven all the way, nor did Holly go lightly.

“Her pads on her feet were bleeding,” Ms. Richter said. “Her claws are worn weird. The front ones are really sharp, the back ones worn down to nothing.”

Scientists say that is consistent with a long walk, since back feet provide propulsion, while front claws engage in activities like tearing. The Richters also said Holly had gone from 13.5 to 7 pounds.

Holly hardly seemed an adventurous wanderer, though her background might have given her a genetic advantage. Her mother was a feral cat roaming the Richters’ mobile home park, and Holly was born inside somebody’s air-conditioner, Ms. Richter said. When, at about six weeks old, Holly padded into their carport and jumped into the lap of Mr. Richter’s mother, there were “scars on her belly from when the air conditioner was turned on,” Ms. Richter said.

Scientists say that such early experience was too brief to explain how Holly might have been comfortable in the wild — after all, she spent most of her life as an indoor cat, except for occasionally running outside to chase lizards. But it might imply innate personality traits like nimbleness or toughness.

“You’ve got these real variations in temperament,” Dr. Bekoff said. “Fish can be shy or bold; there seem to be shy and bold spiders. This cat, it could be she has the personality of a survivor.”

He said being an indoor cat would not extinguish survivalist behaviors, like hunting mice or being aware of the sun’s orientation.

The Richters — Bonnie, 63, a retired nurse, and Jacob, 70, a retired airline mechanics’ supervisor and accomplished bowler — began traveling with Holly only last year, and she easily tolerated a hotel, a cabin or the R.V.

But during the Good Sam R.V. Rally in Daytona, when they were camping near the speedway with 3,000 other motor homes, Holly bolted when Ms. Richter’s mother opened the door one night. Fireworks the next day may have further spooked her, and, after searching for days, alerting animal agencies and posting fliers, the Richters returned home catless.

Two weeks later, an animal rescue worker called the Richters to say a cat resembling Holly had been spotted eating behind the Daytona franchise of Hooters, where employees put out food for feral cats.

Then, on New Year’s Eve, Barb Mazzola, a 52-year-old university executive assistant, noticed a cat “barely standing” in her backyard in West Palm Beach, struggling even to meow. Over six days, Ms. Mazzola and her children cared for the cat, putting out food, including special milk for cats, and eventually the cat came inside.

They named her Cosette after the orphan in Les Misérables, and took her to a veterinarian, Dr. Sara Beg at Paws2Help. Dr. Beg said the cat was underweight and dehydrated, had “back claws and nail beds worn down, probably from all that walking on pavement,” but was “bright and alert” and had no parasites, heartworm or viruses. “She was hesitant and scared around people she didn’t know, so I don’t think she went up to people and got a lift,” Dr. Beg said. “I think she made the journey on her own.”

At Paws2Help, Ms. Mazzola said, “I almost didn’t want to ask, because I wanted to keep her, but I said, ‘Just check and make sure she doesn’t have a microchip.’” When told the cat did, “I just cried.”

The Richters cried, too upon seeing Holly, who instantly relaxed when placed on Mr. Richter’s shoulder. Re-entry is proceeding well, but the mystery persists.

“We haven’t the slightest idea how they do this,” Mr. Galaxy said. “Anybody who says they do is lying, and, if you find it, please God, tell me what it is.”

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J.&J. Study Suggested Hip Device Could Fail in Thousands More





An internal analysis conducted by Johnson & Johnson in 2011 after it recalled a troubled hip implant projected that the all-metal device could fail within five years in nearly 40 percent of patients who received it, newly disclosed court records show.




The analysis, which the company has never released, suggests that thousands of additional patients may have to undergo painful procedures over the next few years to replace the implant, known as the Articular Surface Replacement, or A.S.R. It also indicates that the episode’s cost to Johnson & Johnson will continue to grow.


The analysis was part of a small set of records unsealed Friday by a judge in Los Angeles Superior Court as part of pretrial proceedings in a lawsuit brought by a patient against the DePuy Orthopaedics unit of Johnson & Johnson.


Over 10,000 lawsuits have been filed against DePuy by patients who got an A.S.R. If the California case, which involves a man named Loren Kransky, goes forward this week as scheduled, it would be first of those cases to go to trial.


The records released Friday by Superior Court Judge J. Stephen Czuleger represent a tiny fraction of the tens of thousands of internal DePuy documents that the plaintiff’s lawyers say they have reviewed in connection with the California lawsuit. As a result, it is difficult to assess the strength of the case against the implant maker based on them.


Asked for comment, a spokeswoman for DePuy, Mindy Tinsley, said in a statement that the company’s internal analysis “was based on a small, limited set of data that could not be used to generalize” the overall replacement rate for the A.S.R.  She added that any documents or partial testimony released before the trial “may not be able to be fully understood without proper context.”


For years, executives of DePuy insisted that the A.S.R. was performing on a par with other types of artificial hips, and said they moved to recall the device in mid-2010 when new data from an orthopedic registry in England showed it was failing more frequently.


But documents in the Los Angeles case and other lawsuits nationwide against DePuy are expected to reveal what actions company officials took – or did not take – before the A.S.R.’s recall and when they became aware of the implant’s problems.


Traditional hip implants, which are made out of plastic and metal, typically last 15 years or more before wearing out and requiring replacement. But the A.S.R., which had a cup and ball made of metal, began to fail in large numbers of patients soon after implant.


About 93,000 patients worldwide received an A.S.R., about one-third of them in the United States. Patients here received a version of the A.S.R. that was a traditional hip implant. Those outside the United States were outfitted with either the traditional version or a modified version used in an alternative joint replacement procedure known as resurfacing.


Both versions of the A.S.R., however, shared a central component, a metal hip cup that can shed tiny particles of metal debris as its moves. That debris has caused severe tissue and bone damage in hundreds of patients, crippling some of them.


One DePuy engineer acknowledged in court papers released Friday that company officials were aware in 2008 from reports by an English surgeon that the resurfacing version of the A.S.R. was releasing high levels of metallic ions, particularly in women.


In other pretrial testimony released Friday, Paul Voorhorst, DePuy’s director of biostatistics and data management, said that the company performed several reviews of A.S.R. failures in patients in the fall of 2011, a year after it recalled the model.


Based on the number of patients who had already undergone device replacement at the time, DePuy estimated that about 37 percent of patients who got an A.S.R. may need to get it replaced within five years of receiving it.


Last year, The New York Times reported that DePuy executives decided in 2009 to phase out the A.S.R. and sell off its inventories just weeks after the Food and Drug Administration asked the company in a letter for added safety data about the implant.


The F.D.A. also told the company at that time that it was rejecting its efforts to sell the resurfacing version of the device in country because of concerns about “high concentration of metal ions” in the blood of patients who received it.


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Obama Cites Nation’s Ideals in Call to Act





WASHINGTON — Barack Hussein Obama renewed his oath of office at midday Monday, ceremonially marking the beginning of another four years in the White House and embracing a progressive agenda centered on equality and opportunity.




Mr. Obama went out of his way to mention both gay rights and the need to address climate change, in a speech that seemed intended to define his version of modern liberalism, shortly after voters returned him to office for a second term.


“For now decisions are upon us, and we cannot afford delay. We cannot mistake absolutism for principle, or substitute spectacle for politics, or treat name-calling as reasoned debate,” Mr. Obama said. “We must act; we must act knowing that our work will be imperfect.”


Crowds that were expected to reach about 600,000 people assembled on the National Mall in front of the Capitol, eager to witness the start of the president’s second term. Mr. Obama, 51, was formally sworn in during a small private ceremony at the White House residence on Sunday, the date constitutionally mandated for inauguration.


Following an election dominated by a clash of economic ideas, Mr. Obama used his second Inaugural Address to demand a new national focus on equality and to deplore the widening gulf between rich and poor. He called it “our generation’s task” to make the values of “life and liberty” real for every American.


The 15-minute address was a call to action on behalf of the middle class by an impatient politician. Mr. Obama declared that the country was “made for this moment,” but he acknowledged that the often divisive and combative politics of today have sometimes fallen short of the size of the country’s problems.


Security in Washington was tight as Mr. Obama, the nation’s first black president, delivered his second Inaugural Address from the Capitol just before noon. Speaking on the day the nation sets aside to honor the Rev. Dr. Martin Luther King Jr., Mr. Obama took his oath with his hand on two Bibles: one once owned by Dr. King and another once owned by Abraham Lincoln.


Mr. Obama honored Dr. King, recalling the time he proclaimed that “our individual freedom is inextricably bound to the freedom of every soul on earth.”


Speaking in broad strokes, the president offered the principles that will guide his vision for a second term, vowing to respond to the threat of climate change, maintain economic vitality, protect the poor and defend the country’s people through “strength of arms and rule of law.”


Calling it the current generation’s task to carry on the quest for equality, Mr. Obama urged the nation to make sure that women were paid equally to men and that gay men and lesbians were treated equally under the law.


“Our journey is not complete until our gay brothers and sisters are treated like anyone else under the law,” he said.


Mr. Obama compared the struggle for equality of gay men and lesbians to the fights that African-Americans have waged. Having offered his support last year for same-sex marriage after years of opposition, Mr. Obama used his inaugural speech to embrace the idea that there should be marriage equality.


“If we are truly created equal, then surely the love we commit to one another must be equal as well,” he said.


He also directly mentioned the issue of climate change, a subject that he raised in his first Inaugural Address but has struggled to make progress on in the face of fierce opposition in Congress and in countries around the world.


“We will respond to the threat of climate change, knowing that the failure to do so would betray our children and future generations,” he said. “Some may still deny the overwhelming judgment of science, but none can avoid the devastating impact of raging fires, and crippling drought, and more powerful storms.”


Sheryl Gay Stolberg contributed reporting.



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Atari US files for Ch. 11 to separate from parent






NEW YORK (AP) — Video game maker Atari’s U.S. operations have filed for Chapter 11 bankruptcy protection in an effort to separate from their French parent company.


In a statement, Atari says the move is necessary to secure investments it needs to grow in mobile and digital gaming.






Atari’s U.S. operations have shifted to focus on digital games and licensing, including developing mobile games, and have become a growth engine for its owner. France’s Infogrames Entertainment first took a stake in Atari in 2000. It acquired the remaining stake in 2008 and changed its name to Atari S.A.


But the U.S. operations have been better performing than the rest of the company. In fiscal 2012 digital and licensing revenue both grew significantly and contributed 70 percent of revenue, while sales in bricks-and-mortar stores declined.


In December, Atari S.A. said a credit agreement it entered into with investor BlueBay would lapse at the end of the year and the company was seeking other ways to raise capital. It added that it expects to report a “significant loss” for fiscal 2012.


Atari, which turned 40 last year, was a videogame pioneer with games like “Pong” and “Centipede,” but has changed owners several times amid financial problems. In its filing with the U.S. Bankruptcy Court in the Southern District of New York, Atari said it had $ 1 million to $ 10 million in assets and $ 10 million to $ 50 million in debt. It is seeking approval for $ 5.25 million in debtor-in-possession financing from private investment firm Tenor Capital Management.


Atari said it expects to sell its assets or confirm a restructuring plan within the next three to six months.


Gaming News Headlines – Yahoo! News





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Radcliffe conjures brave new role as gay poet


PARK CITY, Utah (AP) — Daniel Radcliffe doesn't mind hearing that schoolgirls were staking him out at the Sundance Film Festival, hoping for a Harry Potter sighting.


In fact, Radcliffe is happy if his Potter fame conjures up interest for what he wants to do with the rest of his career, such as his bold turn as young gay poet Allen Ginsberg in the Sundance premiere "Kill Your Darlings."


Radcliffe goes nude for an explicit sex scene with another man, makes out with co-star Dane DeHaan and also appears in another sex scene with a clerk in a library while DeHaan's character looks on.


As with his Broadway debut in "Equus," which also featured a nude scene, Radcliffe said his celebrity from the boy wizard franchise might draw in fans who would not have seen a film such as "Kill Your Darlings."


"I don't care why people come and see films. If they come and see a film about the beat poets because they saw me in 'Harry Potter,' fantastic. That's a wonderful thing," Radcliffe said in an interview alongside DeHaan. "I feel like I have an opportunity to capitalize on 'Potter' by doing work that might not otherwise get attention. If I can help get a film like this attention, that's without doubt, that's a great thing."


"Kill Your Darlings" recounts a little-known chapter in the life of Ginsberg, who met Jack Kerouac (Jack Huston) and William S. Burroughs (Ben Foster) at Columbia University during World War II.


DeHaan plays Ginsberg's early idol and infatuation Lucien Carr, whose relationship with an obsessive older man (Michael C. Hall) involves the future beat-generation icons in a seamy murder case.


In the course of the film, Ginsberg comes to embrace his homosexuality. Hall said he hopes "Harry Potter" fans can come to embrace Radcliffe in the role and "expand their definition of what a magic wand might be."


"Kill Your Darlings" director John Krokidas said Radcliffe hurled himself into the role and treated the nudity and gay love scenes as just another part of the job, with no qualms or anxiety.


"None! None! None!" said Krokidas, who is gay and so became Radcliffe's coach in same-sex love-making.


"Radcliffe simply asked, 'John, you're gay. How does this work?'" Krokidas said. "I'm not kidding. And so perhaps there was a little dry run-through — oh, she's going to kill me — with me and the director of photography Reed Morano.


"I might have done it on purpose to make everyone laugh, too, but I also wanted to make sure that we got it right. And other films that have depicted certain moments of sexuality like this, it doesn't happen that way. And at least for cinematic history, I wanted to get that moment right. But Dan watched, observed, found his own connection like he did any other scene and dove right into it."


"Kill Your Darlings" premiered Friday afternoon at Sundance's main theater, which is adjacent to a high school where classes were just letting out for the day. A group of teenage girls rushed from the school to the back of the theater, trying to determine where Radcliffe and his co-stars would be coming in and out.


Some stars grow to resent that sort of fan attention resulting from past roles, feeling it overshadows the work they're doing now. So far, Radcliffe seems to see nothing but good things coming out of "Harry Potter."


"There was a generation of people who maybe wouldn't have gone to see a production of 'Equus,' had I not been in it, that came to see 'Equus,'" Radcliffe said. "Even if they came for the wrong reasons, you know, we got them there, and they stayed, and they watched. And they stayed for the right reasons."


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Recipes for Health: Lentil, Celery and Tomato Minestrone


Andrew Scrivani for The New York Times







If you did a lot of cooking over the Christmas and New Year’s holidays you may have some celery hearts lingering in your refrigerator. You needed a few branches for a stew, a stock, or a soup, so you bought a whole bunch, and here it is weeks later and the rest of the celery is wilting in the produce drawer.




This doesn’t have to happen if you think of this vegetable as something more than an aromatic. I’m a big fan of celery, both raw and cooked, as the main ingredient or as one of several featured ingredients in a dish. You can do the traditional thing with raw celery and dice it up and add it to a potato, tuna or egg salad, or you can make a celery salad, slicing the branches as thin as you can get them and tossing them with herbs, radishes, oil and vinegar, and blue cheese. If you are cooking with celery, don’t stop at one branch when you make soup. The celery contributes a wonderful herbal flavor dimension. It retains its texture for a long time when you cook it, so I used it as the main vegetable in a risotto and loved the way it stood up to the creamy rice.


You always see celery listed as an ingredient in tonic juices and blender drinks. It has long been used in Chinese medicine to help control high blood pressure, which makes sense because it contains phytochemicals called phthalides that reduce stress hormones and work to relax the muscle walls in arteries, increasing blood flow. The vegetable is an excellent source of Vitamins K and C, and a very good source of potassium, folate, dietary fiber, molybdenum, manganese, and Vitamin B6. Another bonus attribute – it is very low in calories. However, it is on the high side as far as sodium goes.


Lentil, Celery and Tomato Minestrone


I make minestrones like this all the time, but I hadn’t made a version with this much celery in it until I made this one, and I loved the dimension of flavor it contributes to the mix.


1 cup lentils, rinsed


1 onion, halved


A bouquet garni made with 2 sprigs each thyme and parsley, a bay leaf, and a Parmesan rind


1 1/2 quarts water


1 tablespoon extra virgin olive oil


1 medium carrot, diced


3 celery stalks, diced


2 garlic cloves, minced


Salt, preferably kosher salt, to taste


1 28-ounce can chopped tomatoes, with liquid


Pinch of sugar


2 tablespoons tomato paste


1/4 cup chopped fresh parsley


Very thinly sliced celery, from the inner heart, for garnish


Freshly grated Parmesan cheese for serving


1. Combine the lentils, 1/2 onion and the bouquet garni with 1 quart water in a saucepan and bring to a boil. Reduce the heat, add salt to taste, cover and simmer 30 minutes.


2. Chop the remaining onion. Heat the olive oil in a large, heavy soup pot or Dutch oven over medium heat and add the onion, carrot, and celery. Cook, stirring often, until the onion is tender, about 5 minutes, and add the garlic and a pinch of salt. Stir together until fragrant, about 1 minute, and add the canned tomatoes with their liquid and the sugar. Bring to a simmer and cook, stirring often, for about 10 minutes, until the tomatoes have cooked down somewhat and smell fragrant.


3. Add the lentils with their broth, the tomato paste, salt to taste, an additional 2 cups water, and bring to a boil. Reduce the heat, cover, and simmer 30 minutes. Taste and adjust seasonings. Season to taste with freshly ground pepper, stir in the parsley and serve, garnishing each bowl with thinly sliced celery heart if you want some crunch, and passing the Parmesan at the table.


Yield: Serves 4 to 6 (4 if there are teen-agers in your house)


Advance preparation: This will keep for three or four days in the refrigerator. It may require thinning out. It’s even better the day after you make it. I have a teenage son and he just about polished off the leftovers – which should have served 3 – the day after I tested the recipe.


Variation: Shortly before serving add 2 cups baby spinach and simmer just until wilted.


Nutritional information per serving (4 servings): 276 calories; 4 grams fat; 0 grams saturated fat; 1 gram polyunsaturated fat; 2 grams monounsaturated fat; 0 milligrams cholesterol; 49 grams carbohydrates; 12 grams dietary fiber; 392 milligrams sodium (does not include salt to taste); 17 grams protein


Nutritional information per serving (6 servings): 184 calories; 2 grams fat; 0 grams saturated fat; 0 grams polyunsaturated fat; 2 grams monounsaturated fat; 0 milligrams cholesterol; 32 grams carbohydrates; 8 grams dietary fiber; 261 milligrams sodium (does not include salt to taste); 11 grams protein


Martha Rose Shulman is the author of “The Very Best of Recipes for Health.”


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