Friday, July 29, 2011

Judge orders the release of Nixon's Watergate grand jury testimony

Judge orders the release of Nixon's Watergate grand jury testimony

By Bill Mears, CNN
July 29, 2011 2:29 p.m. EDT
STORY HIGHLIGHTS
  • NEW: The government can appeal the ruling
  • The release "would likely enhance the existing historical record," the judge says
  • The Justice Department wants to protect the privacy interests of witnesses


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(CNN) -- A federal judge has ordered the release of decades-old secret grand jury testimony from former President Richard Nixon, related to the Watergate scandal.
It is unclear when the material might be available to the public, since the Justice Department, which believes the transcript should be kept secret, now has the option of asking a federal appeals court in Washington to intervene.
U.S. District Court Judge Royce Lamberth on Friday rejected the department's argument that the privacy interests of witnesses would be compromised by the release.
"Nearly forty years later, Watergate continues to capture both scholarly and public interest," Lamberth said. "The disclosure of President Nixon's grand jury testimony would likely enhance the existing historical record, foster further scholarly discussion, and improve the public's understanding of a significant historical event."
A group of historians and legal scholars had sued the government, seeking release of the testimony Nixon gave in June 1975, 10 months after he resigned from office over the Watergate investigation. He was later pardoned by President Gerald Ford.
The Public Citizen Litigation Group represented the plaintiffs, who argued the historic importance of the case deserved public release.
Lamberth agreed, saying he is "confident that disclosure will greatly benefit the public and its understanding of Watergate without compromising the tradition and objectives of grand jury secrecy."

Obama says time running out to avoid US default; compromise eludes partisan Congress so far

Obama says time running out to avoid US default; compromise eludes partisan Congress so far

  • Article by: DAVID ESPO , Associated Press
  • Updated: July 29, 2011 - 2:41 PM
WASHINGTON - Partisan to the core, Congress groped uncertainly Friday for a way to avoid a government default threatened for early next week. "We are almost out of time," warned President Barack Obama as U.S. financial markets trembled.
At one end of the Capitol, Speaker John Boehner and House Republicans pushed toward a vote on veto-threatened legislation rewritten overnight to win the support of conservative holdouts. The conservatives wanted a balanced-budget amendment to the Constitution, and it was added to Boehner's bill.
At the same time, Democratic Senate Majority Leader Harry Reid worked on an alternative bill to cut spending by $2.2 trillion and raise the debt limit by $2.7 trillion. That would be enough to meet Obama's terms that it tide the Treasury over until 2013.
The final result — Obama and Reid pressed for compromise as the deadline drew near — was anything but certain.
Boehner's measure would provide a quick $900 billion increase in borrowing authority — essential for the U.S. to keep paying all its bills after next Tuesday — and $917 billion in spending cuts. After the bill's latest alteration, any future increases in the debt limit would be contingent on Congress approving the constitutional amendment and sending it to the states for ratification.
"With conservatives insisting on the addition of a balanced-budget amendment requirement, Speaker Boehner's bill will now cut, cap and balance" federal spending, said Rep. Jeff Flake of Arizona as Friday's scheduled vote approached.
The White House called the bill a non-starter. "'Amend the Constitution or default' is a highly dangerous game to play," said press secretary Jay Carney, and Democrats said they would scuttle it as soon as it arrived in the Senate.
Reid, inviting Republicans to suggest changes, said, "This is likely our last chance to save this nation from default."
At the same time Reid appealed for bipartisanship, he and other party leaders accused Boehner of caving in to extremists in the GOP ranks — "the last holdouts of the tea party," Sen. Richard Durbin of Illinois called them.
The developments occurred one day after Boehner was forced to postpone a vote in the House for fear the earlier version of his measure would suffer a defeat. But by forcing a delay the conservative rebels upended the leadership's strategy of making their bill the only one that could clear Congress before a default and win Obama's reluctant signature.
"Everybody acknowledges that because of the dust-up yesterday we've lost some leverage," said Rep. Steven LaTourette, R-Ohio, an ally of the speaker.
The rebels said they were more worried about stemming the nation's steady rise of red ink.
Rep. Jeff Landry, R-La., a, a first-term lawmaker, issued a statement saying his pressure had paid off.
"The American people have strongly renewed their November calls of bringing fiscal sanity to Washington. I am blessed to be a vehicle driving their wishes to fruition," he said. "This plan is not a Washington deal but a real solution to fundamentally change the way Washington operates."
Administration officials say that without legislation in place by Tuesday, the Treasury will no longer be able to pay all its bills. The result could inflict significant damage on the economy, they add, causing interest rates to rise and financial markets to sink.
The day's economic news wasn't very upbeat to begin with — an economy that grew at an annual rate of only 1.3 percent in the second quarter of the year.
Investors weren't impressed with either the economy or the efforts in Washington.
The Dow Jones industrial average appeared headed for a sixth straight day of losses, and bond yields fell as investors sought safer investments in the event of a default.
At the White House, Obama cited the potential toll on the economy as he urged lawmakers to find a way out of gridlock.
He said that for all the partisanship, the two sides were not that far apart. Both agree on initial spending cuts to take effect in exchange for an increase in the debt limit, he said, as well as on a way to consider additional reductions in government benefit programs in the coming months.
"And if we need to put in place some kind of enforcement mechanism to hold us all accountable for making these reforms, I'll support that, too, if it's done in a smart and balanced way," he said.
That went to the crux of the conflict — his insistence that Congress raise the government's borrowing authority by enough to avoid a repeat of the current crisis during the heat of the 2012 election campaigns.
Republicans have resisted, accusing him of injecting purely political considerations into the debt limit negotiations.
But Boehner's failure to line up the votes for his legislation Thursday night seemed to embolden Democrats.
Obama asked his 9.4 million followers on Twitter to send tweets to Republican lawmakers.

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Choosing a Patient Lift

Choosing a Patient Lift

Patient lifts are an integral part of the home care setting.  They make transfers and daily activites easier and they help eliminate injury both to the caregiver and to the patient.  Frontline Mobility carries the top brands including Drive Medical patient lifts  and Invacare patient lifts.
Frontline Mobility carries a full selection of patient lifts, both manual and battery-powered.  We also offer a comprehensive variety of slings, although we only show the most basic and popular slings on our website.  If your patient sling needs are more specific, please give us a call at 1-877-655-1181 for help selecting the best sling to meet your needs. 
Manual Patient Lifts - These lifts are manual and completely operated by the caregiver.  They have hydraulic assists, lessening the weight that the caregiver has to move.  These lifts are appropriate when cost is a significant factor, the situation doesn't allow easy access to a power source,  or if the patient lift is used for transferring the patient from one room to another.
Power Patient Lifts - These patient lifts are powered either through a standard electrical outlet or by a re-chargeable battery.  The lifting is completely controlled through a hand control, eliminating any physical exertion by the caregiver.  Power patient lifts  also allow the patient to operate some functions independently, as well.  All of these models have manual back-up in case of power failure.
Patient Lift Accessories - Don't forget to get a sling for your lift.  These are sold separately because there are a wide variety of slings to meet all transfer needs.  Contact customer service if you require a specialty sling...we carry the full lines of patient lift slings from Invacare and Drive Medical.

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Five Reasons Google+ Won't Die

Five Reasons Google+ Won't Die

Posted by Alec_Liu on Friday, Jul 29, 2011
A few weeks in, the honeymoon period is over for Google+ and it seems like some people are already losing interest. Yes, the backlash has already begun. But is Google+ going to fail? In a word, no.
Google+ had 1.79 million visits for the week ending July 23, a decrease of 3 percent compared with the previous week when the network had 1.86 million visits, Experian Hitwise reported. Even worse, people are spending less time on the site. The average visit was 10 percent shorter, down from 5 minutes 50 seconds to 5 minutes 15 seconds.
Worrying signs for what is supposed to be the great Facebook toppler, but is all the doom and gloom necessary?
Sure, it’s been a rough week for Google+ with a series of avoidable missteps. Having no option for businesses has proved naive and Facebook is clearly looking to capitalize.
Google acknowledges the issue but admits it won’t have a solution for another few months.
More problematic though was Google’s decision to start deleting user accounts, an attempt to enforce a policy that requires everyone to use their real name — which on the surface is totally reasonable but not when the company lurks in the shadows, quietly and inadvertently banning a good chunk of innocent accounts. Google promises better communication going forward.
Yet even such shortcomings don’t seem enough to stop the fresh social networks apparently unstoppable momentum. If anything, Google may be a victim of its own success. In an earnings call last week, Google chief Larry Page dropped some crazy numbers:
Mr. Page said that over 10 million people had already joined Google+ since launch and were sharing a billion items a day. These numbers are even more impressive when you consider that the social network launched just a little over three weeks ago and is still available only by invitation.
This kind of growth is completely unprecedented — and those are just Google’s numbers. Hitwise estimates that number could be closer to 20 million after last weekend. These numbers are simply ridiculous and while it is true that they have the Google brand and platform to bank on, we all know what happened with Buzz. And with Google artificially stifling supply and likewise clearing out spam accounts, a leveling out of growth isn’t totally unexpected.
Moreover, it’s clear the social network has yet to fully hit its stride — there simply isn’t enough content yet to keep people glued. But that doesn’t mean it won’t happen eventually and in the case of Google+, probably sooner rather than later.
What Google+ does has is a remarkably solid foundation and fantastic mindshare. Here are 5 reasons why Google+ is the real deal and why its success may already be a foregone conclusion.

1. Platform consolidation

I’m not sure about you, but I’ve been suffering from social network fatigue for quite a while. I’ve barely used Twitter in over a year and I still don’t get the point of LinkedIn. What’s beautiful about Google+ is that it theoretically eliminates the need for anything else (Tim Wu, chime in whenever about information monopolies).
Perhaps my favorite benefit of Google+ is that it could very well make Twitter redundant, a social service I’ve long had a love-hate relationship with. The biggest problem I had with Twitter was having to deal with yet another social network.
Google+ provides all of Twitter’s functionality but wrapped neatly within its own platform. Better yet, Google puts you in the driver seat in terms of who you “tweet” to, not just whose tweets you see. This, to me is huge. Oh, and you’re not limited to 140 characters.
Even better, Google+ seamlessly integrates the services I use the most, like e-mail — the original, and to me, still most useful social network out there — in a way that perfectly maintains my current utility without adding further platform clutter, besides that discrete black bar everyone started to see a few weeks ago.

2. Privacy done right

Unlike Facebook, Google is in the prime position to start from scratch and do things right. While Zuck and co. have had to compromise certain philosophical ideas for pure profits, Google has the luxury of other income streams fueling their new baby’s growth — it doesn’t have to be a constant battle between ethics and dollar bills.
And for the most part, it seems that Google isn’t taking its newfound position for granted. Practically everything, from status updates to your profile visibility, is opt-in. Looks like they’ve learned from not only Facebook’s mistakes but also their own hiccups with Buzz. Let’s hope it stays that way.

3. A userbase I can get down with

One of the great things of any new potentially game-changing, industry defining release is that it becomes an automatic filter. Knowing how very little I care about the majority of my Facebook friends, Zuckerberg has thankfully implemented a news feed algorithm protecting me from all the noise and while I am often surprised by its effectiveness, I’ve never quite liked being the victim of an imperfect formula. Google+ feels like a hip new party: great crowd, no lines, and a friendly spacious venue.
Of course, not even the best parties last forever and Google+ will inevitably have to deal with the same issues as other social networks when it inevitably reaches new levels of popularity.
But that may not happen for some time, mainly because of how insurmountably entrenched Facebook currently is. People can make comparisons to MySpace but I don’t think those predicting a quick demise give the site enough credit. To me, MySpace always felt like a gimmick, a hodgepodge Wild West of meaningless drivel and way too much noise. Facebook has, for many years now, provided real utility and has reshaped how we use the Internet and how we communicate with our friends.
As such, I see Google+ working in tandem with the giant incumbent, at least for the medium term. Because while Google+ might have the progressive techies, the cute girls are still on Facebook.

4. Fantastic smartphone app

I’ve never quite understood why but every Facebook app I’ve used, from Blackberry to Android, has been complete and utter crap, an experience that has always left me frustrated and confused — not to mention it took these guys over a year to release anything for the iPad. More often than not, I’d rather just access Facebook via the browser.
Then comes Google and they get it right on their first try — everything I want is quick, effecient and intuitive. Well done.

5. The people v. Mark Zuckerberg

Never quite the charismatic champion we expect to spearhead one of most important tech companies in recent history, Mark Zuckerberg is the epitome of awkward. Though clearly brilliant, he’s never seemed completely trustworthy . From his time as a socially inept Harvard grad to that viral occasion of him sweating profusely onstage when called out about Facebook’s privacy woes, Zuckerberg has never been a guy who seems like he’s on your team.
Sure, The Social Network’s portrayal of him is clearly dramatized but even in hyperbole there is an iota of truth. He did it for the girls!
On the flipside, you have Sergei Brin and Larry Page, two idealistic PhDs who were simply looking for a more elegant way to index the Internet. They were ambitious but you never got the sense that they were trying to take over the world. Indeed, in the late 90’s they tried to sell what would later become Google to Excite for a measly $1 million. When online conglomerate didn’t bite, the two would-be founders offered to drop their price to $750,000. We all know how the story plays out next.
And this is Facebook’s ultimate problem. People don’t trust them and, moreso, many are rooting for them to fail. They’ve been waiting for the next best thing. They’re sick of having their privacy settings changed without notice. They’re sick of having to opt-out of everything. They’re sicking of never truly having control.
Or maybe they’re just sick of Facebook.

Vets with PTSD, government reach settlement

Vets with PTSD, government reach settlement

By KIMBERLY HEFLING Associated Press
Updated: 07/29/2011 04:31:58 AM PDT

WASHINGTON—More than a thousand Iraq and Afghanistan veterans with post-traumatic stress disorder would be given lifetime disability retirement benefits such as military health insurance under the terms of a settlement reached between the government and the veterans. Attorneys for the veterans, the Justice Department and the military jointly filed a motion on Thursday that spelled out the terms. The settlement must be approved by a judge to be final.
It also affects another thousand veterans who already had lifetime retirement benefits, but would receive a higher disability rating from the military. All of the veterans affected by the settlement would potentially receive new monthly disability compensation.
The settlement stems from a 2008 class action lawsuit filed in the U.S. Court of Federal Claims in Washington by veterans unable to serve, at least in part, because of the anxiety disorder who said they were illegally denied benefits.
The law requires the military to give a disability rating of at least 50 percent to troops discharged for PTSD, but each of the plaintiffs received a disability less than that, said Bart Stichman, co-executive director of the National Veterans Legal Services Program, a nonprofit organization that represented the veterans.
As part of the lawsuit, the military in January 2010 said it would expeditiously review the cases. But attorneys for the veterans grew concerned about the pace in which the cases

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have been reviewed by military boards. One of the boards reviewing the cases was moving so slow, it was going to take seven years for all the cases to be reviewed, Stichman said. That led to settlement talks. Timothy Martin, 32, a former specialist in the Tennessee National Guard, who struggles with panic attacks and nightmares related to his war service in Iraq, would benefit from the settlement. He said the health care benefits from the settlement would help with health care for his kids, ages 2 and 5.
"The extra money, the back pay, the insurance, it's going to really help change our lives," Martin said.
Each of the veterans in the suit was released from the military between Dec. 17, 2002, and Oct. 14, 2008.
PTSD is an anxiety disorder that can develop after a terrifying event in which a person felt physically harmed or threatened.

How the Deficit Got This Big

How the Deficit Got This Big

With President Obama and Republican leaders calling for cutting the budget by trillions over the next 10 years, it is worth asking how we got here — from healthy surpluses at the end of the Clinton era, and the promise of future surpluses, to nine straight years of deficits, including the $1.3 trillion shortfall in 2010. The answer is largely the Bush-era tax cuts, war spending in Iraq and Afghanistan, and recessions.
Multimedia
Despite what antigovernment conservatives say, non-
defense discretionary spending on areas like foreign aid, education and food safety was not a driving factor in creating the deficits. In fact, such spending, accounting for only 15 percent of the budget, has been basically flat as a share of the economy for decades. Cutting it simply will not fill the deficit hole.
The first graph shows the difference between budget projections and budget reality. In 2001, President George W. Bush inherited a surplus, with projections by the Congressional Budget Office for ever-increasing surpluses, assuming continuation of the good economy and President Bill Clinton’s policies. But every year starting in 2002, the budget fell into deficit. In January 2009, just before President Obama took office, the budget office projected a $1.2 trillion deficit for 2009 and deficits in subsequent years, based on continuing Mr. Bush’s policies and the effects of recession. Mr. Obama’s policies in 2009 and 2010, including the stimulus package, added to the deficits in those years but are largely temporary.
The second graph shows that under Mr. Bush, tax cuts and war spending were the biggest policy drivers of the swing from projected surpluses to deficits from 2002 to 2009. Budget estimates that didn’t foresee the recessions in 2001 and in 2008 and 2009 also contributed to deficits. Mr. Obama’s policies, taken out to 2017, add to deficits, but not by nearly as much.
A few lessons can be drawn from the numbers. First, the Bush tax cuts have had a huge damaging effect. If all of them expired as scheduled at the end of 2012, future deficits would be cut by about half, to sustainable levels. Second, a healthy budget requires a healthy economy; recessions wreak havoc by reducing tax revenue. Government has to spur demand and create jobs in a deep downturn, even though doing so worsens the deficit in the short run. Third, spending cuts alone will not close the gap. The chronic revenue shortfalls from serial tax cuts are simply too deep to fill with spending cuts alone. Taxes have to go up.
In future decades, when rising health costs with an aging population hit the budget in full force, deficits are projected to be far deeper than they are now. Effective health care reform, and a willingness to pay more taxes, will be the biggest factors in controlling those deficits.

Judge a Dry Cleaner Before Handing Over Clothing

What really happens to your cherished suits, shirts or dresses when you drop them off at the dry cleaners? Ray Smith discusses the new techniques that dry cleaners are trying as new rules prohibit a common cleaner.
You drop your most cherished clothes at the dry cleaner, and they're ticketed, thrown into a massive pile of garments and whisked away.
To most consumers, what takes place behind the counter, where imposing machines rumble and steam hisses, is a mystery. What exactly goes on back there? Other common questions: Why do women's shirts often cost more to clean than men's, and why do only some stains come out?
Adding to the confusion is a transition that is already shaking up the dry-cleaning industry. Many dry cleaners will be required to find new solvents to replace a widely used cleaning agent called perchloroethylene, or perc, by 2020. As a result, businesses are using a growing array of new methods to clean garments. Procter & Gamble Co. recently launched Tide Dry Cleaners, a chain of stores that use an alternative product, based on silicone and called GreenEarth.
The result, for many people, is uncertainty. "I find myself looking at tags more to see if I can wash it," says Alli Webb, the West Hollywood, Calif., co-founder of Drybar, a chain of blowout hair salons. She says she is nervous about chemicals and sometimes will drive farther to a cleaner that promotes itself as eco-friendly.
The shakeup is coming to an industry that has changed little for decades. While the Frenchman credited with inventing dry cleaning started with turpentine, perc has been used since the 1930s to clean clothes, and about 80% of cleaners still rely on it. Like turpentine—and benzene, kerosene and gasoline, which were also tried in the early years—perc is good at dissolving oil-based stains. It is pumped into a supersized washing machine to flush dirt from the clothes.
P&G
P&G's Tide Dry Cleaners store in Mason, Ohio, keeps the machines visible behind the counter.
Stubborn stains from difficult-to-remove substances, such as ink, wine and mustard, are attacked by hand with chemicals that target particular substances. Bruce Barish, owner of New York City's Ernest Winzer Cleaners, cites balsamic vinaigrette as "very hard to get out." It's a mix of both water-based and oily stains with a dark dye that is hard to remove—especially since most customers accidentally rub it in.
The quality and service vary, in part because most dry cleaners are independently owned. There are 24,124 dry-cleaning and non-coin-operated laundry establishments in the U.S., according to the Census Bureau.
But certain things hold true across the industry. In a 2009 study that examined 50 randomly selected dry cleaners, New York-based Floyd Advisory LLC found that women paid an average of 73% more than men for laundered shirts. Dry cleaners surveyed say women's shirts don't fit in their industrial presses as well as men's and must be ironed by hand.
Last year, market-research firm Mintel International found that 75% of women who had gone clothes-shopping in the past 12 months said they avoided buying clothes that required dry cleaning.
Indeed, it is customers' low opinion of dry cleaning, in part, that sparked P&G's new venture, the company says. P&G research found that a large percentage of consumers were generally dissatisfied with their dry cleaning, says Ross H. Holthouse, a spokesman for the consumer-product maker's FutureWorks division. "They felt the stores were dark and that they walked into a black box and didn't know what was happening," he says.
Tide Dry Cleaners stores, which use the branding of Tide laundry detergent, have valets that carry clothes to and from customers' cars, lockers with customized passwords where consumers can drop off or pick up clothes after hours, and bar codes that keep track of customers' data, including preferences. The company made sure the stores were bright and open, with the machines visible, Mr. Holthouse says. After starting with three test stores in Kansas City, Kan., the company opened the first Tide Dry Cleaner in Mason, Ohio, last fall, and two more Ohio stores opened in July. The company says it could have several hundred locations in a couple of years.
P&G is also one of a growing number of businesses to use a cleaning substance other than perc. It uses P&G products such as Tide as well as perc alternative GreenEarth.

Judge a Dry Cleaner Before Handing Over Clothing

  • Does it have a certificate or decal? The National Cleaners Association, Drycleaning Laundry Institute and America's Best Cleaners all have qualifications a dry cleaner must meet to receive a certificate, such as passing tests in cleaning, stain removal and technical knowledge.
  • Is it orderly? 'If it's clean and well run, chances are they are doing a better job with your clothes than some place that has stuff laying around,' says Jack Gillis, director of public affairs for the Consumer Federation of America.
  • Is the cleaning actually done there? Use an establishment with dry cleaning on the premises. "That will reduce the chances of something being lost" says Mr. Gillis. You can tell if the cleaning is done on site if there is equipment visible, or just ask if they send the clothes out to a separate facility.
  • After you've chosen a cleaner and had your clothes cleaned, inspect the garments immediately when you pick them up, right there in the store. 'A lot of us just grab it and go,' Mr. Gillis says. Make sure your garments have been cleaned properly and pressed, and check for damages or for any lost items.
The Environmental Protection Agency has classified perc as a toxic air pollutant and potential human carcinogen. While the EPA mandated that cleaning businesses located in residential buildings phase out perc by the end of 2020, some states, including California, Illinois and New Jersey, have sought to end its use sooner and more broadly.
As a result, alternative solvents have come on the market, claiming to clean just as well but with less harm to humans and the environment. Among the most popular are hydrocarbon, GreenEarth and a water-and-detergent method known as wet cleaning. The EPA hasn't issued policy rulings on these substances, and dry cleaners aren't required to say what they use.
Some in the industry say the environmental concerns over perc have been overblown. Alan Spielvogel, director of technical services at the National Cleaners Association, a trade group, says the industry has taken steps over the years to reduce perc pollution, primarily by installing advanced machines. What's more, he's not convinced that the alternatives clean as well.
About 60 dry cleaners in the U.S. use SystemK4, a new dry-cleaning solution made by Kreussler Inc. Alex Shvartshteyn, owner of London Cleaners in Cleveland, switched from GreenEarth to SystemK4 earlier this year and prefers the latter.
Kreussler wouldn't disclose the chemical makeup of SystemK4, but it says the product leaves clothes softer and fresher-smelling than perc. "It won't beat up the clothes as much as perc," says Richard Fitzpatrick, vice president at Kreussler.
But Mr. Spielvogel and others fear switching to alternatives will be costly. In many cases, dry cleaners will have to buy new machines, which can cost $45,000 to $100,000 or more. Converting to alternatives could increase the average dry-cleaning bill as owners pass on the costs of investing in new machines to customers. Increasing prices "is certainly an option" says Mary Scalco, acting chief executive officer of the Drycleaning and Laundry Institute, a trade association. "Most of the dry-cleaning industry is comprised of small mom and pop businesses."
When trying to decide what merits dry cleaning, consumers should start with the label. While some "dry clean only" items can be carefully washed at home, says Jack Gillis, director of public affairs at the Consumer Federation of America, "you'd be taking a risk if, like most of us, you didn't know how the fabric would react to soap and water." Some fibers and fabrics, such as viscose rayon, require waterless cleaning because they have "low wet strength," while others such as wool might shrink, says Kay Obendorf, a professor of fiber science at Cornell University. In addition, some delicate materials, linings, finishings or trims won't withstand the wash.
Nadene Sabghir, of Coral Springs, Fla., says one of her daughter's party dresses came back from the dry cleaners with melted sequins. Now, she doesn't bring anything with "embellishment, sequins or something I really love" to the cleaners. "If I can hand-wash it or delicate-wash it, I will."

Yahoo and Alibaba reach deal over Alipay

Yahoo and Alibaba reach deal over Alipay

@CNNMoneyTech July 29, 2011: 11:23 AM ET
yahoo alipayAlibaba CEO Jack Ma
NEW YORK (CNNMoney) -- Yahoo has finally come to an agreement with Chinese Internet giant Alibaba in a months-long battle over the ownership of payment site Alipay.
Yahoo (YHOO, Fortune 500) owns about 40% of Alibaba, which itself owns Yahoo China -- as well as three massive Chinese properties including Alipay. That stake is one of Yahoo's bright spots, so investors weren't pleased when uncertainty developed over Alipay.
Back in May, Yahoo disclosed to the SEC that Alibaba had transferred 100% of its ownership of its e-commerce site, Alipay, to a new company controlled by Alibaba CEO Jack Ma.
Yahoo scrambled to clean up the mess with a statement saying it was not made aware of the asset transfer until March 31 -- and that it "occurred without the knowledge or approval of the Alibaba Group board of directors or shareholders."
Alibaba disputed those claims, saying the transfer was discussed at several board meetings as long as three years ago.
Yahoo shares plunged over that week as the news continued to develop. Investors wondered why Yahoo was so out of the loop, and they questioned whether the company could retain its relationship with Alibaba.
A few weeks later, at Yahoo's analyst day, executives declined to answer most questions about Alibaba. Yahoo CEO Carol Bartz said several times that Yahoo "had an agreement with Alipay that none of us were going to discuss the past, and we're sticking to that."
Then, at Yahoo's annual shareholder day in June, stakeholders slammed the company for its handling of the Alibaba situation.
The announcement of the deal seemed to please investors early Friday, as Yahoo shares rose 6% in premarket trade. But the stock reversed course once the market opened and was down 2% in late morning trading as the broader market fell following a weak GDP report.
Terms of the deal: Under the terms of the deal, which also includes Japanese Internet firm and Alibaba investor Softbank, Alibaba will receive between $2 billion and $6 billion for an initial public offering of Alipay or any other type of Alipay liquidation.
In addition, Alibaba Group will license some technology services and intellectual property to Alipay. In return, Alipay will pay royalties to Alibaba.
The deal is expected to close by the end of 2011 and must be approved by regulators.
JPMorgan analyst Doug Anmuth said in a note to clients Friday that he is retaining his "neutral" rating on Yahoo.
"The agreement provides a definitive range of outcomes for the eventual monetization of Alipay, while also clearing an overhang on [Yahoo] stock," he wrote.
Anmuth noted that there is "very little visibility" into a timeline for an Alipay IPO, but as a major stakeholder Yahoo "can force a liquidity event after 10 years."
The Alipay battle is hardly the first time Ma, the Alibaba CEO, and Bartz have butted heads. In September, Alibaba offered to buy back Yahoo's stake for about $11 billion. Yahoo declined

Obama Urges Bipartisan Compromise On Debt Bill

By: NY1 News

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President Barack Obama again on Friday urged lawmakers on Capitol Hill to put aside their political differences and hammer out a bill to prevent the nation from defaulting on its loans.Speaking from the White House, Obama said there's more than one way to raise the nation's debt ceiling before the August 2nd deadline, but says whatever road Congress chooses it needs to happen now.
He said plans from Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell are potential solutions, and asked for a bill he can sign by Tuesday.
"The time for putting party first is over. The time for compromise on behalf of the American people is now. And I'm confident that we can solve this problem, and I'm confident we will solve this problem," Obama said.
House Republicans say they will rework the bill proposed by Speaker John Boehner.
The bill, which stalled in the House last night, would still cut spending by $900 billion.
It's unclear when the reworked bill will be brought to the floor for a vote.
Earlier today, Senate Majority Leader Harry Reid said he would move forward with his plan which would includes spending cuts of $2.5 trillion over 10 years.
A vote on that bill could come on Sunday.
While some New Yorkers remain optimistic the debt ceiling will be raised on time, others are blasting Washington lawmakers over their lack of action.
"Definitely frustrated and angry because I'm a working citizen. I really don't want to see that the U.S. gets downgraded, and it will concern me and my kids. So I just want them to get to a resolution rather quickly," said one New Yorker.
"It's really not that hard, guys have got to get together and get it done," said another.
"They shouldn't be using the debt as leverage in this discussion," said a third.
Representatives from 20 of the nation's biggest banks including JP Morgan Chase, Citi and Goldman Sachs are meeting today with treasury department officials to discuss the impact of a possible default.


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ARTICLE: Is your child obese, but you can’t see it?

ARTICLE:  Is your child obese, but you can’t see it? 

Carson (not his real name) was a charming four year old who was very attached to his parents and his parents clearly adored him.  Awhile ago I was having a serious discussion with his mom and dad because Carson had high blood pressure, sleep apnea (trouble breathing when he falls asleep), and early signs of diabetes.   His parents were appropriately concerned about these very serious health problems that are usually seen in overweight adults.  In the course of our discussion I explained that Carson’s obesity was a major factor in his illnesses and I asked them for their thoughts about his weight.  They looked at each other a bit puzzled and said “we think he’s about right.”  This was a jaw dropping moment for me because little Carson, at four years old, weighed 105 pounds!  His tummy hung over his pants, his cheeks were plump and round, and his movements were more slow and lumbering than a typical child his age.  Any casual observer would have recognized his obesity, but his parents didn’t.   How could this be? Was this denial? Did they really not think it was unusual that he was wearing size 12 Husky pants at age four?
As I began to explore this issue I learned that Carson’s parents are not unique.  In an article published in the journal Pediatrics in 2003 mothers were asked to describe their child’s weight and almost one in three mothers of children who were actually overweight described their child as “about the right weight”.  In another article published in 2006 in the same journal parents were shown several sketches that represented children of varying weights from underweight to overweight.  The parents were asked to choose a sketch that best represented their child’s body appearance and then to describe their child’s weight in words.  The majority of parents whose child was obese correctly circled a drawing of an obese child, but almost 2 out of 3 of these parents described their child as “about the right weight”.  It is interesting that these parents recognized their child’s body shape, but they just didn’t see it as extreme.   The problem is obvious.  If parents of obese children don’t believe there is a problem they are very unlikely to help their child lose weight.
The first step in determining if your child is getting too heavy is to ask your doctor to calculate a BMI.  BMI stands for ”body mass index” and it is the primary measure used to determine obesity in adults.   Unfortunately, BMI alone doesn’t give enough information for children because in children body fat is different for boys and girls and it changes with age.  So after calculating the BMI your doctor will plot the number on a “BMI for age growth chart”.  It is essential to use this chart because the definition of obesity changes with age.  In fact, the same BMI can be obese at one age and healthy at another. That’s because obesity in children is determined by comparing children to their peers of the same age and sex.  A child whose BMI is more than 95% of children of the same age is considered obese.  A child with a BMI that is between 85% and 95% of other children would be considered “at risk for overweight.”   For example, a 10 year old boy with a BMI of 23 is considered obese while a 15 year old with the same BMI is considered a healthy weight.  Using adult standards without the chart would suggest that both boys are a healthy weight.  If you’re confused don’t worry.  Your doctor can explain where your child’s BMI falls on the chart.  Then if it’s too high you and your doctor can develop a plan to help your child become healthier. 
Carson’s parents in the story above were surprised to learn that his BMI of 32 meant he was heavier than 99% of other four year olds and was definitely obese.  For them this new information along with his health problems were a call to action.  They immediately began limiting his high calorie snacks and started walking him to school instead of driving.    They enrolled him in park district sports and cut way back on fast foods.  And today Carson’s health is improving. 
The above studies don’t tell us why parents find it difficult to describe their child as obese, but one thing is clear: knowing a child’s BMI for age is important even for parents who don’t think their little one is obese. Remember, almost two out of three mothers of obese children don’t think so either and as Carson’s parents learned the risks of not knowing can be serious.  Only accurate information and a solid plan can give every child a chance to grow up with the best health possible.
This column is not intended to be medical advice. Consult your personal physician for specific health concerns.

ARTICLE: Disability 101

ARTICLE:  Disability 101

My girlfriend’s son, Sam, is a cute, happy, energetic 6 year old.  He loves dinosaurs,  Sesame Street, and grilled cheese sandwiches.   Sometimes he gets really mad and throws awful tantrums.  Other times he’s so sweet his mother wonders how she got so lucky with such an amazing child.  When he grows up he wants to be a fireman and an astronaut and a doctor.  Sam also has cerebral palsy.   The funny thing is that a lot of people have a really hard time getting past Sam’s wheelchair.  They see the chair, not the child and it’s really too bad because Sam is a terrific kid! 
In my medical practice all of the children I treat have a disability of one kind or another so I’m around wheelchairs, walkers, crutches, and artificial limbs all day everyday.  I realize this is not a common experience and recently I began wondering how many people have even one friend who has a disability?   Do you?  Does your child?  Have you ever made small talk with a person in a wheelchair or had coffee with someone who had an obvious impairment?  It’s my hunch that most people will answer no to these questions.  It’s normal to feel uncomfortable when things aren’t familiar so I’ve decided to open the dialogue about this seldom discussed topic and devote this month’s column to some thoughts on disability. 
1.  One of the strangest things that happens to a person with a disability is that sometimes they’re treated as if they’re invisible.  Let me give you an example.  I was with a group at a very nice restaurant as the guest of the CEO of a well respected, non-profit organization.  He makes a good living, is intelligent, and does a great job of running the charity.  He was born with almost no arms and legs so he uses hooks on his arms, has artificial legs, and uses a scooter to get around.  He was our host, he made the reservation, he paid for dinner, but during our entire evening together the waiter looked past our host to the person seated next to him and asked what our host would like to eat, or drink, etc.  When the CEO spoke up for himself the waiter raised his voice and spoke more slowly.  Maybe the waiter thought that this man was so unusual that his brains had been located in his missing limbs.  It made me wonder where the waiter’s brains were.  The big message is: talk to a person who has a disability just like you would anyone else. 
2.  A lot of people say that when someone uses wheelchair they are “bound” to it.  A child who uses a wheelchair isn’t “bound” to it anymore than I am bound to my glasses.  I definitely need them because I can’t see well without them, but my glasses don’t bind me, they assist me.  The same is true for a child who uses a wheelchair.    
3.  I know the name game can be confusing for people outside of a particular group who are trying their hardest to keep up.  Things can change so quickly, but the preferred description is “a child with a disability” or “a child with autism” instead of “a disabled child” or “an autistic child.”   The first description makes the disability only a part of the child’s experience, the second description makes it the entire child.  The language changes as the disability community grows and becomes more self-empowered.  So mentally retarded became cognitively impaired which became intellectually disabled.  Crippled became handicapped which became disabled which became a person with a disability.   The easiest way to know what language to use to discuss a child’s condition is to listen to the words the parents use to describe it. 
4.  One of the most difficult things for parents who have a child with a disability is watching their child’s peers pass them by.  Parents often feel a loss when other children walk, but their child doesn’t, or other children talk, but their child doesn’t, or other children start to read, but their child doesn’t.  For some parents early childhood seems like a series of losses but there are some amazing breakthroughs.  My girlfriend’s son started talking after four years of using sign language, gestures, and guessing.  One of my patients became potty trained after 7 years of diapers and pull ups.  Seven years!   Sometimes the child who you see in the grocery throwing a tantrum is the same child who couldn’t have held it together for 5 minutes in a convenience store a few months before.  This time it took a full 20 minutes before the tantrums started.  The child may look disruptive to other shoppers, but it’s a victory for the parent who sees progress.  For parents who have a child with a disability it’s patience, and baby steps, and celebrating small, but significant accomplishments.
I once heard someone say that everyone has a disability, some are just more visible than others, and if you think about it it’s true.   Having a child with a disability isn’t what Sam’s mom hoped for during her pregnancy, but he’s the child she got and she wouldn’t trade him for anything.  There are over 4.5 million children growing up with a disability in our country and their parents don’t want pity, just understanding.  When it comes to their child they may have to change their expectations or at least modify the timeline, and by doing that they create a new normal for their family and carve out a space for their child to reach his or her full potential.  And that’s what every good parent wants. 
This column is not intended to be medical advice. Consult your personal physician for specific health concerns.

Patrick Kennedy, Edwin Black, Cathy McMorris Rodgers, Greg Babe, and Lowell Weicker receive “Justice for All Award"

Patrick Kennedy, Edwin Black, Cathy McMorris Rodgers, Greg Babe, and Lowell Weicker receive “Justice for All Award"

July 26th 2010
Contributors / Staff - Edwin at AAPD Awards w/Imparato
Edwin Black and Andrew J. Imparato, AAPD President & CEO
The American Association of People with Disabilities (AAPD), on July 21, 2010, bestowed its coveted Justice for All Awards last week on five Americans who have distinguished themselves for their efforts on behalf of the disabled. The five were Representatives Patrick Kennedy (D-RI); Cathy McMorris Rodgers (R-WA); former Senator and Governor of Connecticut and American with Disabilities Act author Lowell Weicker; President and CEO of Bayer Corporation and Bayer Material Science Greg Babe; and best-selling author Edwin Black, for his investigative book War Against the Weak, now a major documentary film.
The presentation of the award statuettes was made in a Congressional Cannon House Caucus Room packed with senators and members of Congress, as well as corporate executives and the leaders of dozens of associations active in the extended disabled community. Also honored were an enthusiastic group of disabled youthful interns, each of which was servicing a national agency or organization with distinction. Certificates of merit were handed to each in a celebrated call to the podium. United States Attorney General Eric Holder gave the keynote address for the invitation-only event.
In addition to the award recipients and Attorney General Holder, a gamut of Washington luminaries were also in attendance. Former U.S. House Majority Whip and current AAPD board chair Tony Coelho and Dick Thornburgh, former Pennsylvania Governor and U.S. Attorney General when the ADA was passed, were on hand to help celebrate the landmark legislation’s 20th anniversary. Sen. Tom Harkin (D-IA) was scheduled to attend but was delayed.
“We’re delighted to honor Representatives Kennedy and McMorris Rogers, Lowell Weicker, Greg Babe, and Edwin Black for their significant work in the political, economic and social empowerment of the disability community as we celebrate the 20th anniversary of the Americans with Disabilities Act,” said Andrew J. Imparato, President and CEO of AAPD.
Holder told the audience, “Over the last two decades, the ADA has helped to revolutionize the conditions of—and society’s perceptions toward—Americans with disabilities. Many of the advocates and policymakers in this very room helped to ensure that the spirit of this law became action across the land. The AAPD’s leadership, membership and network of supporters have been essential in fulfilling the goals the ADA was developed to achieve. Today, your efforts—particularly to ensure that ADA keeps up with advances in technology and that people with disabilities do not have to turn to institutions or nursing homes to access the services they need—will pave the way for continued progress.”
Black’s acceptance speech riveted the audience as he declared that while they “represented the enlightened future,” his work reminded all of the “unenlightened past.” Black then contrasted the present-day ADA and related progressive legislation with a myriad of state eugenic laws passed in the early part of the last century to help identify, murder and deny rights to those who disabilities, real or perceived. “We will take a major step toward the right light of equality only when we can take that step in unison with our neighbors,” stated Black. After the event, Black commented, “We have only begun to right the wrongs of our past, only begun to recognize them.”
The Justice for All Award program annually recognizes individuals who have contributed in extraordinary ways to increase the political and economic power of people with disabilities. In previous years, AAPD has presented awards to top congressional champions of the ADA, including Ted Kennedy, Tom Harkin, Chris Dodd, Orrin Hatch, John McCain, and Bob Dole.

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