After a record-breaking Black Friday, retailers may be in for a big Cyber Monday as well. Early results for Cyber Monday, from IBM's Digital Analytics Benchmark, show a 24.1 percent jump in online sales from this same time period over Cyber Monday 2011.Source: http://feedproxy.google.com/~r/Techcrunch/~3/mZKW3Fvhr1k/
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NEW YORK (Reuters) - A group of former MF Global customers on Monday asked a court for permission to subpoena the commodities broker's executives, including former CEO Jon Corzine, who was blamed in a congressional report this month for MF Global's collapse.
The Commodity Customer Coalition, an advocate for trader customers who lost money when MF Global went under, is seeking to subpoena Corzine, Chief Financial Officer Henri Steenkamp, Chief Operating Officer Bradley Abelow and others, according to court papers filed in the U.S. Bankruptcy Court in Manhattan.
While Corzine has stepped down, some executives remain at the company, assisting in its wind-down. Abelow, the highest-ranking executive still at the firm, just last week gave his notice and is leaving at the end of the week, a person familiar with the matter told Reuters on Monday.
MF Global
Corzine's role has been unclear. James Giddens, the trustee liquidating MF's broker-dealer unit, said in a June report that Corzine failed to address growing liquidity needs as he built the firm into a global investment powerhouse.
Giddens said MF Global used customer funds to cover liquidity gaps as the firm teetered on the brink.
More recently, the Republican-controlled House Financial Services Committee put the blame squarely on Corzine, saying in a November 15 report that he failed to maintain the controls necessary to protect customer funds.
Corzine, a former co-chairman of Goldman Sachs
Reuters reported in September that prosecutors are close to wrapping up a criminal inquiry and are unlikely to file criminal charges.
Some customers have sued Corzine for civil charges, including breaching fiduciary duty.
The coalition is also seeking to subpoena MF Global General Counsel Laurie Ferber and former Treasurer Edith O'Brien, as well as Christine Serwinski, former finance chief at MF's North American brokerage.
An attorney for O'Brien declined to comment. Lawyers for the other parties did not respond to requests for comment.
James Koutoulas, a fund manager who leads the coalition, on Monday told Reuters that Corzine should be forced to face questions from customers under oath.
A spokesman for Corzine declined to comment.
Judge Martin Glenn, who is overseeing MF Global's liquidation, in February denied a similar subpoena request from another former MF Global customer, saying it would impede ongoing investigations by authorities.
Many officials, including Giddens, the Department of Justice and the FBI, have been investigating the case and have spoken to MF Global executives.
Giddens' role -- to return as much money as possible to former customers -- raises questions as to whether granting the coalition subpoena power could be redundant.
Giddens has already returned to customers about 80 percent of the money in their accounts, which were frozen when the company went bankrupt. He has said he will try to recover much of the roughly $1.6 billion gap in those accounts through litigation or settlements with MF Global affiliates, regulators and counterparties.
Giddens has also joined forces with plaintiffs who have sued Corzine for alleged civil infractions.
Still, Koutoulas says customers should be able to take matters into their own hands and ask Corzine and fellow brass detailed questions about the firm's collapse.
"This case needs another kick in the butt," Koutoulas said. "It's almost like the courts are treating Corzine as a sacred cow that can't be touched."
Kent Jarrell, a spokesman for Giddens, declined to comment on the coalition's subpoena efforts. He said Giddens "stands by" his June report and will continue to cooperate with plaintiffs in civil lawsuits against Corzine.
(Additional reporting by Joseph Ax; Editing by Dan Grebler and Edwina Gibbs)
Source: http://news.yahoo.com/mf-global-customers-seek-subpoenas-corzine-others-023438701--sector.html
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NEW YORK (AP) ? A new book by baseball Hall of Famer Nolan Ryan will be a bit of a sizzler.
The game's all-time strikeout king is also a longtime Texas rancher and has compiled dozens of his favorite recipes for "The Nolan Ryan Beef Cookbook." Little, Brown and Co. announced Monday that the book is scheduled for May 2014.
The 65-year-old Ryan also plans to work in a few baseball stories, from his years pitching for the New York Mets, California Angels and other teams to his current job as CEO and president of the Texas Rangers. His previous books include the memoirs "Miracle Man" and "Throwing Heat."
Source: http://news.yahoo.com/nolan-ryan-serve-beef-cookbook-2014-172935652--spt.html
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LONDON (Reuters) - The head of the BBC's governing body defended paying a "hell of a lot of money" to the corporation's ex-boss on Tuesday and said the cost of two inquiries into the causes of his departure would have to come from its publicly-funded coffers.
Director general George Entwistle came under fire for the BBC's slow and unconvincing response to revelations a former star presenter, the late Jimmy Savile, was a serial paedophile, and for a programme featuring false sex abuse allegations.
Chris Patten, chairman of the BBC Trust, said he had been left with little choice but to agree to a 450,000 pound pay-off for Entwistle who resigned as director general this month after just 54 days in the post.
Patten told parliament's media committee he had agreed to Entwistle receiving 12 months' pay after lawyers said Entwistle could not be sacked and any other outcome could leave the BBC facing an even bigger bill for unfair dismissal.
"450,000 pounds is one hell of a lot of money. But the options I had were absolutely clear," he said.
BBC's flagship Newsnight programme pulled an expose of Savile shortly after his death in October last year and his offences only came to light in a documentary by a rival broadcaster two months ago.
Newsnight compounded its error by airing false sex abuse allegations against a former senior politician. Entwistle quit as questions grew about the competence of his management.
The BBC, which is funded by an annual licence fee levied on viewers, has ordered two independent reviews, one into Savile's abuse over six decades and another into why Newsnight dropped its story.
Patten said these would be expensive because of the number of lawyers involved.
"I am afraid we must bear the costs, however much they are," Patten said. Acting director general Tim Davie said programmes would not suffer and the money would come from a contingency fund.
On Friday, former BBC director general Mark Thompson, and now chief executive of the New York Times Co, was questioned by the second review about what and when he knew about the Savile allegations.
Thompson has told Reuters he did not know about the Newsnight investigation and had had no involvement in the decision to axe the report.
During a heated exchange with Conservative lawmaker Philip Davies, a fierce BBC critic, Patten refused to comment on what he thought of Thompson's position on the issue.
Davies told the committee that 10 days before Thompson left, he had got BBC lawyers to write to a Sunday newspaper to tell them to stop a story which alleged he did know about claims relating to Savile.
"You know perfectly well that I'm not going to reply to questions which are being looked at by Nick Pollard's inquiry," Patten said. Pollard, the former head of Sky News, is due to complete his report before Christmas.
(Reporting by Michael Holden; Editing by Robert Woodward)
Source: http://news.yahoo.com/bbc-chief-defends-director-generals-hell-pay-off-164657896--finance.html
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ScienceDaily (Nov. 26, 2012) ? This month's issue of the Archives of General Psychiatry features an editorial commentary by Autism Speaks Chief Science Officer Geraldine Dawson, Ph.D. In it, Dr. Dawson describes how the dramatic progress in autism research has paralleled increased recognition of autism's prevalence and financial impact.
"This issue of the journal features three articles on autism," she writes in her editorial. "A decade ago, the journal published about the same number of autism articles per year."
Dr. Dawson also notes that, while the funding for autism research has dramatically increased over the last decade, it hasn't kept pace with the increasing scale of the public health challenges posed by autism.
Despite an increase in research and funding, "we yet to fully describe the causes of ASD or developed effective medical treatments for it," Dr. Dawson writes. "[This issue's] articles point to an urgent need for more research on prenatal and early postnatal brain development in autism, with a focus on how genes and environmental risk factors combine to increase risk for ASD."
In one of the three articles, scientists report a three-fold increase in autism risk associated with exposure to traffic-related air pollution during pregnancy and the first year of life. The study's lead author, Heather Volk, Ph.D., M.P.H., is the recipient of an Autism Speaks research grant to study autism risk and gene-environment interactions involving air pollution. (Free full text here.)
A second report confirms an association between autism and changes in immune function. The study is the first to use new brain imaging techniques to demonstrate immune function changes in adults with autism. Specifically, it looked at microglial activation in the brain. Microglial cells are the brain's first and primary immune defense.
The third study used magnetic resonance imaging (MRI) to examine the size of the cerebral cortex (cortical volume) in ASD. It compared the cortical volume of young men on the autism spectrum with that of their unaffected peers. The study's key finding is that autism-associated differences in brain volume reflect differences in surface area, not cortical thickness. This sheds light on mechanisms that might account for early brain overgrowth in individuals with ASD.
"More research is needed to develop strategies for preventing or reducing the disabling symptoms associated with this highly prevalent and costly neurodevelopmental disorder," Dr. Dawson concludes.
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Source: http://feeds.sciencedaily.com/~r/sciencedaily/~3/2E8Mz1pV-ew/121126164308.htm
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DEAR ABBY: I'm a 51-year-old man. Three years ago, my first and only marriage ended after 20 years. Over the past two years, I have been in a wonderful relationship with a very bright woman, "Toni," who told me she had been married twice before.A year ago, her job required that she move out of state, but we have successfully maintained the long-distance relationship with frequent visits and daily phone calls.A few days ago, I learned by chance that she was briefly married a third time while she was in her early 20s. ...
Source: http://news.yahoo.com/photos/photos-of-the-day-1340925511-slideshow/
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