Girl who performed at Obama inaugural slain on South Side









After taking their exams Tuesday, Hadiya Pendleton and a group of others decided to hang out at a park on Tuesday just blocks away from their high school on the South Side.


But the trip ended in tragedy when the 15-year-old King College Prep sophomore was fatally shot about a week after she attended President Barack Obama’s inauguration and performed at inaugural events with the King College Prep band and drill team.


Penldeton and a16-year-old boy wounded in the attack were shot in a park near the school about 2:20 p.m., in the 4500 block of South Oakenwald Avenue, police said.








Most of those who were in the park were gang members, and those in the group did not stay on scene to help after the shootings, according to police. The shooting occurred around 2:20 p.m. in the 4500 block of South Oakenwald Avenue.


They boy remained in serious condition Tuesday night. He was also a student at King, according to Pendleton’s friends, though her relatives weren’t sure what school the boy attended.


One of the teens was taken in serious to critical condition to Comer Children's Hospital, according to Chicago Fire Department spokesman Will Knight.


The other victim also was taken to Comer and police at first believed both victims' conditions had stabilized by a little after 3 p.m., said Chicago Police News Affairs Officer Veejay Zala.


At Comer this evening, a group of young people sat and stood inside the entrance to the hospital's emergency room, along with the principal of King high school.


Many hugged as they brushed tears from their eyes and consoled each other and Pendleton's parents.


"She was awesome," one girl said of Pendleton outside the hospital's ER.


Friends of the slain girl said King was dismissed early today because of exams, and students went to the park on Oakenwald--something they don't usually do.


Friends said the girl was a majorette and a volleyball player, a friendly and sweet presence at King, one of the top 10 CPS selective enrollment schools. Pendleton performed with other King College students at President Barack Obama’s inaugural events.


Neighbors said students from King do hang out at Harsh Park, 4458-70 S. Oakenwald Ave., and that students were there this afternoon before the shooting took place. A group of 10 to 12 teens at the park had taken shelter under a canopy there during a rainstorm when a boy or man jumped a fence in the park, ran toward the group and opened fire, police said in a statement this evening.


The attacker then got into an auto and left the area, police said.


Neighbors reported hearing shots about 2:20 p.m.


Desiree Sanders said she heard six gunshots and called 911 after a neighbor told her that some teens had been shot. Neighbors told her as many as 10 young people had been hanging out at the small park, and most scattered after the shooting, though a few stayed behind with the victims.


Those in the group were not cooperating with police, however, and investigators had no detailed descriptions yet of either the attacker or the vehicle in which he left. Central Area detectives were investigating, and they had no one in custody as of about 8:20 p.m.


Police crime data show no serious crimes happened in the 4400 or 4500 blocks of South Oakenwald Avenue Dec. 19 to Jan. 20.


“It’s a great neighborhood. Nothing like this has happened since I’ve been here,” on the block, said Roxanne Hubbard, who has lived in the neighborhood for 19 years.


As a matter of policy, Chicago Board of Education officials refuse to confirm whether any child is a student at Chicago Public Schools because a policy on student identification passed by the board several years ago has never been implemented.


Tribune reporter Liam Ford contributed.


jmdelgado@tribune.com





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Facebook Graph Search Still Doesn’t Speak Human






Despite hiring a couple of linguists to get its new search engine to move “beyond ‘Robospeak” and actually understand how people talk, Facebook hasn’t actually taught Graph Search how to do that very well just yet. And that’s a problem, no matter which way the social network spins it. Unlike Google‘s pattern-matching search engine, Facebook’s new recommendation-based social search platform tries to understand full sentences. And that takes context, something that’s very hard to teach even the smartest computers, as one of the linguists that worked on the project, Amy Campbell, told The New York Times‘s Somini Sengupta. 


RELATED: Why Facebook’s Graph Search Can’t Give Users What They’re Looking for… Yet






In order to think more like a person the Graph Search team taught the engine 25 synonyms for “student” so that when someone types in “Stanford Academics that work at Facebook” the engine knows to look for “students” — 275,000 different ways in fact. But it turns out that an English class isn’t the future of machine learning: a grammar and vocabulary lesson proves a lot easier than complex sentient thoughts, and that’s where Facebook’s new product breaks down in practice.


RELATED: Why Google Isn’t Scared of Facebook’s Graph Search


For example, Graph Search doesn’t get vague pronouns. My query today for “photos Elle Reeve likes that she commented on” confuses Facebook’s beyond-robo engine. Instead, Graph Search results track down photos that my Atlantic Wire colleague “likes” but that I commented on:


RELATED: The Bad News-Good News of Tech Trademark Infringement


But Facebook’s ambiguity problem extends beyond “I” and “she.” Graph Search also has problems with double entendres, or sentences with nuance. The phrase “sports fans that like Lady Gaga play” has multiple meanings, notes the Times, especially because the word “fan” has its own special meaning on Facebook. (People with “Pages” have “fans.”) 


fcff0  678605f19f5d7d273134dd61511d293e 492x211 Facebook Graph Search Still Doesnt Speak Human


It’s not impossible to fix these specific issues. Facebook can add more relevant “context” to Graph Search as more people use it (beta testing rolled out over the last week). But never once has a machine perfectly understood our natural language. IBM’s Watson has come close, but it still made an embarrassing mistake every so often, and newer robots like Georgia Tech’s Simon are still getting there. Messups are okay (and entertaining) for a computer on a gameshow, or robots that might end up really helping bridge the computer-human divide. But, if I’m really going to use Graph Search as a way to find things in my day-to-day life, right now, those kind of hiccups should happen rarely to never — and Facebook’s slow phase-in excuse isn’t cutting it. If Graph Search can’t understand what humans want, it’s simply not doing its job. 


Social Media News Headlines – Yahoo! News





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Lindsay Lohan’s driving case returns to LA court






LOS ANGELES (AP) — A judge who has sentenced Lindsay Lohan to jail before will conduct her first hearing Wednesday on new misdemeanor charges of lying to authorities and reckless driving against the trouble-prone actress.


Lohan has been ordered to appear before Judge Stephanie Sautner for the scheduling hearing, which is the first time the actress has been required to appear in court in nearly a year.






Prosecutors in Santa Monica, Calif., have charged Lohan with lying to police about driving a sports car that crashed into a dump truck in June, reckless driving and obstructing officers from performing their duties.


In March, Sautner released her from supervised probation but warned her to stop partying and grow up.


“You need to live your life in a more mature way, stop the nightclubbing and focus on your work,” Sautner told Lohan at the time. The admonition came after the judge conducted several monthly updates with the actress and required her to perform morgue cleanup duty to complete her sentence in a 2007 drunken driving case.


Lohan has since filmed two movies but has repeatedly gotten into trouble, including a pair of arrests in New York that have not resulted in charges.


She was on probation for theft at the time of the wreck in California, and Sautner had warned the actress she could be sentenced to 245 days in jail if she didn’t behave. She has pleaded not guilty and a Feb. 27 trial date has been set.


The latest hearing may also resolve who will be Lohan’s lawyer for the criminal case. New York attorney Mark Heller has petitioned to join the case, but his involvement must be approved by Sautner.


Heller was traveling on Tuesday and did not return a phone message.


___


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


Entertainment News Headlines – Yahoo! News





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Well: Helmets for Ski and Snowboard Safety

Recently, researchers from the department of sport science at the University of Innsbruck in Austria stood on the slopes at a local ski resort and trained a radar gun on a group of about 500 skiers and snowboarders, each of whom had completed a lengthy personality questionnaire about whether he or she tended to be cautious or a risk taker.

The researchers had asked their volunteers to wear their normal ski gear and schuss or ride down the slopes at their preferred speed. Although they hadn’t informed the volunteers, their primary aim was to determine whether wearing a helmet increased people’s willingness to take risks, in which case helmets could actually decrease safety on the slopes.

What they found was reassuring.

To many of us who hit the slopes with, in my case, literal regularity — I’m an ungainly novice snowboarder — the value of wearing a helmet can seem self-evident. They protect your head from severe injury. During the Big Air finals at the Winter X Games in Aspen, Colo., this past weekend, for instance, 23-year-old Icelandic snowboarder Halldor Helgason over-rotated on a triple back flip, landed head-first on the snow, and was briefly knocked unconscious. But like the other competitors he was wearing a helmet, and didn’t fracture his skull.

Indeed, studies have concluded that helmets reduce the risk of a serious head injury by as much as 60 percent. But a surprising number of safety experts and snowsport enthusiasts remain unconvinced that helmets reduce overall injury risk.

Why? A telling 2009 survey of ski patrollers from across the country found that 77 percent did not wear helmets because they worried that the headgear could reduce their peripheral vision, hearing and response times, making them slower and clumsier. In addition, many worried that if they wore helmets, less-adept skiers and snowboarders might do likewise, feel invulnerable and engage in riskier behavior on the slopes.

In the past several years, a number of researchers have attempted to resolve these concerns, for or against helmets. And in almost all instances, helmets have proved their value.

In the Innsbruck speed experiment, the researchers found that people whom the questionnaires showed to be risk takers skied and rode faster than those who were by nature cautious. No surprise.

But wearing a helmet did not increase people’s speed, as would be expected if the headgear encouraged risk taking. Cautious people were slower than risk-takers, whether they wore helmets or not; and risk-takers were fast, whether their heads were helmeted or bare.

Interestingly, the skiers and riders who were the most likely, in general, to don a helmet were the most expert, the men and women with the most talent and hours on the slopes. Experience seemed to have taught them the value of a helmet.

Off of the slopes, other new studies have brought skiers and snowboarders into the lab to test their reaction times and vision with and without helmets. Peripheral vision and response times are a serious safety concern in a sport where skiers and riders rapidly converge from multiple directions.

But when researchers asked snowboarders and skiers to wear caps, helmets, goggles or various combinations of each for a 2011 study and then had them sit before a computer screen and press a button when certain images popped up, they found that volunteers’ peripheral vision and reaction times were virtually unchanged when they wore a helmet, compared with wearing a hat. Goggles slightly reduced peripheral vision and increased response times. But helmets had no significant effect.

Even when researchers added music, testing snowboarders and skiers wearing Bluetooth-audio equipped helmets, response times did not increase significantly from when they wore wool caps.

So why do up to 40 percent of skiers and snowboarders still avoid helmets?

“The biggest reason, I think, is that many people never expect to fall,” says Dr. Adil H. Haider, a trauma surgeon and associate professor of surgery at Johns Hopkins University in Baltimore and co-author of a major new review of studies related to winter helmet use. “That attitude is especially common in people, like me, who are comfortable on blue runs but maybe not on blacks, and even more so in beginners.”

But a study published last spring detailing snowboarding injuries over the course of 18 seasons at a Vermont ski resort found that the riders at greatest risk of hurting themselves were female beginners. I sympathize.

The takeaway from the growing body of science about ski helmets is in fact unequivocal, Dr. Haider said. “Helmets are safe. They don’t seem to increase risk taking. And they protect against serious, even fatal head injuries.”

The Eastern Association for the Surgery of Trauma, of which Dr. Haider is a member, has issued a recommendation that “all recreational skiers and snowboarders should wear safety helmets,” making them the first medical group to go on record advocating universal helmet use.

Perhaps even more persuasive, Dr. Haider has given helmets to all of his family members and colleagues who ski or ride. “As a trauma surgeon, I know how difficult it is to fix a brain,” he said. “So everyone I care about wears a helmet.”

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Chicago Booth social enterprise program gets $5M gift









Retired CDW Chairman and Chief Executive John Edwardson has donated $5 million to the social enterprise initiative at the University of Chicago's Booth School of Business.

The gift is the first directed to the social enterprise effort, which launched last March. It will pay for research and larger cash awards to the winners of the school's annual social new venture competition.






Social enterprises try to achieve philanthropic goals, such as pollution and poverty reduction, through business tactics and discipline. They are often for-profit operations that put tackling complex social problems ahead of rewarding shareholder.

"One of the things I've been concerned about, and I think that kids are different today, is that when I was at Booth, we were focused on one thing and that was getting out of Booth and making a lot of money," said Edwardson, who graduated from the school in 1972. "Over the years, one thing that has become important to me is helping students learn to share what they have when they have a little, so that when they have a lot, they would be willing to share a lot."

Social entrepreneurship programs have brought a softer edge to business schools. Examples include a company trying to develop cheap, solar-powered batteries for sub-Saharan Africa, or a home retrofitting company or a restaurant that mostly employs ex-convicts.

The school's competition for social ventures business plans is being renamed the John Edwardson Social New Venture Challenge. Last year, 19 teams of three to five students competed for $55,000 in prize money, split among the top four finishers, said Booth spokesman Allan Friedman.

In comparison, the school's more traditional startup competition had 33 teams vying for $75,000 in prize money, split among the top 10 teams, Friedman said.

"I had agreed to endow a professorship, but it just wasn't exciting me very much," Edwardson said. "And then when I went to the social new venture challenge, and it really excited me. And I thought this is where I want my gift to go, to help do more of this."

From 2001 to 2011, Edwardson was CEO and chairman of Vernon Hills-based CDW, a computer equipment reseller. He stayed on as chairman for one more year to ensure a smooth transition.

He also is the chairman of Booth's alumni advisory board, known as the Council on Chicago Booth, and will be the lead volunteer fundraiser for the school's upcoming capital campaign. Edwardson said no fundraising goal has been set.

mmharris@tribune.com | Twitter @chiconfidential



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Butler's 19 points lead Bulls over Bobcats









To Jimmy Butler, it's simple.


Whether he's averaging 45.2 minutes in the five games he started for Luol Deng or playing 31 minutes, 14 seconds in reserve of Deng and others, as he did during Monday's 93-85 victory over the Bobcats, his role remains the same.


"Rebound, guard and make some open shots," Butler said. "Starting gave me a lot more confidence. But I'm still able to do those things (off the bench)."








Indeed, Butler stole the show, backing up his promise with a career-high 19 points and six rebounds, playing at shooting guard alongside Deng for a long second-quarter stretch and most of the final 5:28.


"Jimmy's a big part of the team," coach Tom Thibodeau said. "Lu has been huge for us. We know we have flexibility. You do what's best for the team."


Deng returned after missing five games with an injured right hamstring and finished with 12 points in just over 31 minutes as the Bulls avenged their New Year's Eve home loss to the Bobcats.


"I felt great," Deng said. "I hadn't gone full speed like that, so I was a little worried about the change of speed and direction. So I'm happy I was able not to have any setbacks. It felt a little tight, but it didn't feel like how it felt when I first did it."


Thibodeau admitted he didn't want to overextend Deng's minutes in his first game while casually plugging him for defensive player of the year.


"There may not be a better defender in the league," Thibodeau said.


At least against the speedy, perimeter-driven Bobcats, minutes dropped for Marco Belinelli and Richard Hamilton. Thibodeau even used the combination of Kirk Hinrich and Nate Robinson for a brief third-quarter stretch.


"They went real small," Thibodeau said. "I liked (Butler's) quickness out there defensively."


The Bulls pulled away late in the third after the Bobcats tied it at 55-55 with 3:36 remaining. Joakim Noah, huge again with a double-double, seven assists and five blocks in nearly 45 minutes, scored on a three-point play. Robinson, who contributed 15 points off the bench, fueled a 13-0 run with two 3-pointers as the Bobcats failed to score for 4:24.


With 13 points and 18 rebounds, Noah became the first Bull to grab 15 or more rebounds in four straight games since Dennis Rodman in March 1998.


Robinson poured it on in the fourth, scoring eight points as the Bulls pushed their lead to 14. But old friend Ben Gordon found his range in the final period as well, scoring 10 of his 18 points as the Bobcats trimmed the lead to six late.


That's when Carlos Boozer powered home a left-handed dunk over Bismack Biyombo off a feed from Robinson with 1:24 left to jazz the sellout crowd of 21,308.


"As long as we play the type of basketball we know we're capable of, we can beat any team," Butler said. "We can also lose to any team if we don't."


kcjohnson@tribune.com


Twitter @kcjhoop





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Yahoo sees revenue climb this year, but long road ahead






(Reuters) – Yahoo Inc forecast a modest uptick in revenue for the current year as it revamps its family of websites but Chief Executive Marissa Mayer warned it would be a long journey to revive the Internet company‘s fortunes.


In Yahoo‘s first financial outlook since Mayer became CEO in July, the company outlined a plan to trigger a “chain reaction of growth” by overhauling a dozen of its online services to increase the amount of time users spent on its websites.






It also pointed to strength in its search advertising business and progress made in improving its internal operations.


Yahoo’s shares were 3 percent higher in after hours trade after the revenue projection was disclosed during an analysts conference call, shedding some ground after earlier rising as much as 4.5 percent.


But weakness in Yahoo’s display ad business, which accounts for roughly 40 percent of the company’s total revenue, caught some analysts by surprise.


“While the road to growth is certain, it will not be immediate,” said Mayer, a former Google Inc executive and Yahoo’s third full-time CEO since September 2011.


Yahoo said that revenue, excluding fees it pays to partner websites, will range between $ 4.5 billion and $ 4.6 billion in 2013, implying an annual growth rate of 0.7 percent to 3 percent.


Finance Chief Ken Goldman also warned investors to expect “an investment phase” in the first half of the year, which he said would impact profit margins.


“What was clear from the call is that this is a long-term turnaround story,” said Macquarie Research analyst Ben Schachter. “We shouldn’t expect anything to just snap back and correct itself.”


During the fourth quarter, Yahoo’s net revenue increased 4 percent year-on-year to $ 1.22 billion, as search advertising sales offset a 10 percent decline in the number of display ads sold on Yahoo’s core properties.


Mayer said the decline was the result of less activity by visitors to its popular websites, such as its Web email service, and to a lesser extent due to users accessing the Web on smartphones, where Yahoo’s ad business is not as strong.


Efforts to revamp its mobile properties, begun last year with a redesign of the photo-sharing service Flickr, remain on track, said Mayer, noting that Yahoo now has 200 million monthly mobile users.


“From a monetization perspective this is still a very nascent source of revenue for us. With any platform shift, revenue always followed users and mobile will be no different,” she said.


Mayer took over after a tumultuous period at Yahoo in which former CEO Scott Thompson resigned after less than 6 months on the job over a controversy about his academic credentials and in which Yahoo co-founder Jerry Yang resigned from the board and cut his ties with the company.


Yahoo’s stock has risen roughly 30 percent since Mayer took the helm, reaching its highest levels since 2008.


Part of the stock’s rise has been driven by significant stock buybacks, using proceeds from a $ 7.6 billion deal to sell half of its 40 percent stake in Chinese Internet company Alibaba Group, said Sameet Sinha, an analyst with B. Riley Caris.


Yahoo said it repurchased $ 1.5 billion worth of shares during the fourth quarter.


The company’s fourth-quarter net income was $ 272.3 million, or 23 cents per share, versus $ 295.6 million, or 24 cents per share in the year-ago period.


Excluding certain items, Yahoo said it had earnings per share of 32 cents, versus the average analyst expectation of 28 cents according to Thomson Reuters I/B/E/S.


For the first quarter, Yahoo said it expects revenue, excluding partner website fees, of $ 1.07 billion to $ 1.1 billion, trailing the $ 1.1 billion that Wall Street analysts expect on average.


Shares of Yahoo were up 59 cents at $ 20.90 in after-hours trading on Monday.


(Reporting by Alexei Oreskovic; Editing by Phil Berlowitz and Edwina Gibbs)


Tech News Headlines – Yahoo! News





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How Fox Searchlight made the biggest deal at Sundance $9.75 million on an egg sandwich






NEW YORK (TheWrap.com) – The biggest sale at Sundance this year – “The Way, Way Back” – began with a promise and ended with a fried egg sandwich.


Producer Kevin J. Walsh, a former assistant to Scott Rudin, told the agents selling his movie that he’d make everyone food if they closed a big deal. But before he could cook, a bidding war broke out that would pit the favored Fox Searchlight against a half-dozen other studios, including Lionsgate, Paramount, Magnolia, FilmDistrict and Open Road.






Fox Searchlight won out and paid one of the highest prices for a Sundance movie in recent years – $ 9.75 million – for the story of an alienated 14-year-old (“The Killing’s” Liam James) on summer vacation.


The one big thing in their favor: Once “The Way, Way Back” premiered on Monday, everyone knew it would sell. The film not only drew a standing ovation, but almost every distributor stayed through the Q&A session with the filmmakers – a “rare” occasion, as one person close to the deal told TheWrap.


Fox Searchlight was an early starter out of the gate. It had already won an Oscar with Rash and Faxon, who co-wrote Alexander Payne’s “The Descendants.”


And at one point it was going to produce the film, back when Shawn Levy was going to direct and it was called “The Way Back.” Rash and Faxon’s script had charted on the 2007 Black List, which ranks the industry’s favorite unproduced screenplays.


The project stalled. Levy moved on to other films, and the script bounced around until Walsh came aboard as producer and decided Faxon and Rash should direct.


In hopes of sealing the deal, Searchlight sent more than a dozen of its executives to the Sundance debut, many of whom began firing off ardent emails to the filmmakers after they had seen it.


“They came wanting to love that movie, and they were going overboard in an impressive way,” a person with knowledge of the deal told TheWrap. “Multiple people at the company talked about how much they loved the film. It still didn’t mean they’d get it. Sometimes you have a distributor who does all that to justify lowballing.”


But Searchlight didn’t have a clear field. As the filmmakers attended an after party at the Grey Goose Blue Door on Main Street, several other distributors circled. These ranged from the massive, Paramount and Warner Bros., to the very large Lionsgate, to the medium-sized FilmDistrict, Open Road and Magnolia.


Another factor was that rival agencies CAA and WME had to play nice. The movie was written and directed by CAA‘s Faxon and Rash and stars WME clients Steve Carell and Toni Collette.


Around 7 p.m., the dealmakers retired to the WME house, where the discussions began. Alexis Garcia, Deb McIntosh and Graham Taylor from WME would handle the deal with Laura Lewis and Dina Kuperstock from CAA.


“We had some in-person meetings, some phone calls and a lot of the offers were apples and oranges,” Tom Rice of Sycamore Pictures, which produced and co-financed the movie with OddLot Entertainment, told TheWrap.


Fox Searchlight was an early starter out of the gate. It had already won an Oscar with Rash and Faxon, who co-wrote Alexander Payne’s “The Descendants.”


And at one point it was going to produce the film, back when Shawn Levy was going to direct and it was called “The Way Back.” Rash and Faxon’s script had charted on the 2007 Black List, which ranks the industry’s favorite unproduced screenplays.


The project stalled. Levy moved on to other films, and the script bounced around until Walsh came aboard as producer and decided Faxon and Rash should direct.


In hopes of sealing the deal, Searchlight sent more than a dozen of its executives to the Sundance debut, many of whom began firing off ardent emails to the filmmakers after they had seen it.


“They came wanting to love that movie, and they were going overboard in an impressive way,” a person with knowledge of the deal told TheWrap. “Multiple people at the company talked about how much they loved the film. It still didn’t mean they’d get it. Sometimes you have a distributor who does all that to justify lowballing.”


But Searchlight didn’t have a clear field. As the filmmakers attended an after party at the Grey Goose Blue Door on Main Street, several other distributors circled. These ranged from the massive, Paramount and Warner Bros., to the very large Lionsgate, to the medium-sized FilmDistrict, Open Road and Magnolia.


Another factor was that rival agencies CAA and WME had to play nice. The movie was written and directed by CAA‘s Faxon and Rash and stars WME clients Steve Carell and Toni Collette.


Around 7 p.m., the dealmakers retired to the WME house, where the discussions began. Alexis Garcia, Deb McIntosh and Graham Taylor from WME would handle the deal with Laura Lewis and Dina Kuperstock from CAA.


“We had some in-person meetings, some phone calls and a lot of the offers were apples and oranges,” Tom Rice of Sycamore Pictures, which produced and co-financed the movie with OddLot Entertainment, told TheWrap.


“When we went over there, we didn’t tell them it was exclusive. But quickly getting there, it was clear they were intending to make it work as quickly as possible,” an individual close to the deal said. “And it still dragged out for several hours.”


As they haggled over numbers, the two sides moved in and out of the condo. The agents would move while Fox talked about it. The Fox team had to move when the agents wanted to call people back at the WME house.


Meanwhile, over the night, Searchlight increased its offer significantly. Making a big bet on the first-time directors, $ 9.75 million, at 4:30 a.m. it finally closed one of the richest deals in Sundance history.


Fox Searchlight considers Jim and Nat a real part of their family,” Rice said. “They made their interest known for a long time.”


The deal done, the negotiating team headed back to the WME house to play pool, listen to music, drink champagne and down vodka. Whiskey would have been ideal given the frigid weather, but Utah’s Byzantine liquor laws had dashed the hopes of a late-night liquor run. The local whiskey from High West Distillery would have to wait.


“We didn’t plan ahead for celebrations, and it isn’t too easy to improvise in Park City,” one person there recalled.


With a couple hours until the papers would be signed, pre-planned improvisation would have to do.


And Walsh made good on his promise: Fried egg sandwiches with asparagus.


“We cracked a bottle of champagne at about 6 a.m.,” he said. Good morning.


Movies News Headlines – Yahoo! News




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Rescuer Appears for New York Downtown Hospital





Manhattan’s only remaining hospital south of 14th Street, New York Downtown, has found a white knight willing to take over its debt and return it to good health, hospital officials said Monday.




NewYork-Presbyterian Hospital, one of New York City’s largest academic medical centers, has proposed to take over New York Downtown in a “certificate of need” filed with the State Health Department. The three-page proposal argues that though New York Downtown is projected to have a significant operating loss in 2013, it is vital to Lower Manhattan, including Wall Street, Chinatown and the Lower East Side, especially since the closing of St. Vincent’s Hospital after it declared bankruptcy in 2010.


The rescue proposal, which would need the Health Department’s approval, comes at a precarious time for hospitals in the city. Long Island College Hospital, just across the river in Cobble Hill, Brooklyn, has been threatened with closing after a failed merger with SUNY Downstate Medical Center, and several other Brooklyn hospitals are considering mergers to stem losses.


New York Downtown has been affiliated with the NewYork-Presbyterian health care system while maintaining separate operations.


“We are looking forward to having them become a sixth campus so the people in that community can continue to have a community hospital that continues to serve them,” Myrna Manners, a spokeswoman for NewYork-Presbyterian, said.


Fred Winters, a spokesman for New York Downtown, declined to comment.


Presbyterian’s proposal emphasized that it would acquire New York Downtown’s debt at no cost to the state, a critical point at a time when the state has shown little interest in bailing out failing hospitals.


The proposal said that if New York Downtown were to close, it would leave more than 300,000 residents of Lower Manhattan, including the financial district, Greenwich Village, SoHo, the Lower East Side and Chinatown, without a community hospital. In addition, it said, 750,000 people work and visit in the area every day, a number that is expected to grow with the construction of 1 World Trade Center and related buildings.


The proposal argues that New York Downtown is essential partly because of its long history of responding to disasters in the city. One of its predecessors was founded as a direct result of the 1920 terrorist bombing outside the J. P. Morgan Building, and the hospital has responded to the 1975 bombing of Fraunces Tavern, the 1993 and 2001 attacks on the World Trade Center, and, this month, the crash of a commuter ferry from New Jersey.


Like other fragile hospitals in the city, New York Downtown has shrunk, going to 180 beds, down from the 254 beds it was certified for in 2006, partly because the more affluent residents of Lower Manhattan often go to bigger hospitals for elective care.


The proposal says that half of the emergency department patients at New York Downtown either are on Medicaid, the program for the poor, or are uninsured.


NewYork-Presbyterian would absorb the cost of the hospital’s maternity and neonatal intensive care units, which have been expanding because of demand, but have been operating at a deficit of more than $1 million a year, the proposal said.


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787 worst-case scenario: $5B writeoff by Boeing









As government regulators investigate Boeing's 787 Dreamliner and company engineers seek solutions, investors and analysts are grappling with the question: How much will the plane's grounding cost?

The answer depends on what probes in the United States and Japan uncover, with scenarios ranging from a quick resolution if a few defective parts have to be swapped out to a drawn-out inquiry that requires a fundamental redesign. The worst case scenario: The Dreamliner's problems run so deep that Chief Executive Jim McNerney has to write off about $5 billion in anticipated revenue, said Howard Rubel, a Jefferies & Co. analyst who puts the odds of that at about 4 percent.

The costs are likely to be much less, in the hundreds of millions of dollars, say investors and analysts, including New York-based Rubel. That would let Boeing, which reports 2012 earnings Jan. 30, reap the rewards of what he estimates was a $25 billion investment in the plane, clearing the way for a profit surge and more money for investors.

"As far as dividend growth, cash flow and share buybacks, I think that's still intact," said Gary Bradshaw, a fund manager at Hodges Capital Management in Dallas, who added to his Boeing stake after a fire broke out on a Dreamliner Jan. 7.

U.S. investigators are still searching for what caused the fire in the lithium-ion batteries on a Japan Airlines Co. 787 in Boston that day and a fault that forced an All Nippon Airways Co. plane to make an emergency landing in Japan Jan. 16. The jet debuted commercially in 2011, and 50 have been delivered so far.

The grounding will most likely cost Boeing $550 million, Rubel wrote in a report with a range of potential expenses, from $125 million to reimburse carriers that lease replacement jets to the $5 billion writeoff. Doug Harned, a Sanford C. Bernstein & Co. analyst in New York, estimated Boeing's expense at less than $350 million.

With probes under way by the Federal Aviation Administration and the National Transportation Safety Board, McNerney will face questions on this week's earnings call that he won't be able to answer. Chicago-based Boeing is due to give its 2013 financial forecast and delivery plans.

"We are working this issue tirelessly," Chaz Bickers, a spokesman, said of the 787. "At the same time, we are keeping our other teams keenly focused on their own program performance and customer commitments."

Earnings per share may rise more than 50 percent, to $7.69 by 2015 from $5 in 2012, the average estimate of four analysts surveyed by Bloomberg. Analysts project that Boeing garnered $81.7 billion in sales last year, which may grow to $87.9 billion in 2013.

The planemaker has said it plans to double 787 output to 10 a month this year as it pares a backlog of about 800 unfilled orders. That's one piece of the company's 60 percent production boost in the four years through 2014 to meet demand from airlines for more fuel-efficient planes.

"You look out a couple of years and they could be earning $8 a share, and then you really have a cheap stock," said Bradshaw, at Hodges Capital Management.

Bernstein's Harned estimated that Boeing had set a 787 delivery target of 93 jets for 2013. The planemaker gets a big chunk of the price before delivery, so even if 20 jets push into 2014, only about $1 billion in cash flow would be delayed, and that would be quickly made up, Harned said in a Jan. 22 note.

The shares haven't fallen further in part because investors are used to Dreamliner woes after seven delays pushed back its entry into service by more than three years, according to Carter Leake, a BB&T Capital Markets analyst in Richmond, Va.

In a worst-case scenario, the model may be grounded more than three months, which could force a production slowdown, said Leake, a former pilot who also worked for Canadian planemaker Bombardier Inc. While Boeing continues to assemble 787s, the grounding has halted deliveries, because buyers couldn't fly away in their new planes.

"The market is in a period of disbelief that it could be anything other than a quick fix, despite the fact that we're in an open investigation," Leake said.

Boeing felt the weight of investors' 787 dismay before the grounding. Through last week, the shares had slumped 26 percent since the day before the planemaker disclosed the first Dreamliner delay, in October 2007.

Any reworking of the Dreamliner would come alongside the development this year of the 787-9, a stretched version of the plane, and the upgraded 737 Max, which is scheduled to enter airline fleets in 2017. The planemaker is also working to develop a 787-10 variant and a revamp of the 777.

Concurrent projects have proved a risk in the past, with the Dreamliner's struggles spilling onto the 747-8 jumbo jet program. Its 2011 debut came two years late after Boeing shifted engineers to help on the 787.

The Dreamliner has long been pivotal to Boeing's product strategy. With the plane's promise of a 20 percent gain in fuel economy over comparable wide-bodies, Boeing markets the 787 as a way for airlines to fly long-haul routes without larger 777s or 747 jumbo jets. The 787-8, the only model in service, seats as many as 250 people and lists for about $207 million, though buyers typically get a discount.

The Dreamliner's early setbacks echo the "teething" pains common to new jet models, said Gary Flam, a partner at Bel Air Investment Advisors in Los Angeles, whose holdings include Boeing.

"The market in general is telling you there's some caution, but not tremendous concern yet," Flam said. "I've actually been surprised how well the stock has acted given the news."

In the 1990s, Boeing's 777 encountered delays in getting FAA approval for its engines, and some planes were pulled from trans-Atlantic flights because of power-plant issues.

Among additional early glitches was the delay of the 747's first commercial flight, two decades previously, also for engine troubles. Later, the planemaker had to redesign a rudder-control part on the 737 and replace it on all the jets.

"Boeing has a very strong record of being able to surmount these issues," said Peter Jankovskis, who helps manage $3 billion of assets including Boeing stock as chief investment officer for Oakbrook Investments LLC in Lisle, Illinois. "We remain confident in Boeing and their management and technical teams' ability to solve these issues."

Shareholders hoping for clues about the progress of that effort didn't get much when the NTSB gave a briefing last week on its "methodical" inquiry. The agency said yesterday that investigators found no evidence of flaws in the battery charger that would have caused the Boston fire. No problems were found in the auxiliary power unit, which contains the battery, either, the NTSB said.

Investors' support for Boeing and the 787 remains tied to the idea that the faults are in the lithium-ion battery packs, not a fundamental defect in the planemaker's most technologically advanced jet ever, according to Leake, the BB&T analyst.

"If, as this unfolds, it's anything more than a defective battery, then that confidence will start to wane," he said.



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