Nurses Who Saved NICU Babies Remember Harrowing Hurricane Night

























Nurses at the Neonatal Intensive Care Unit at New York University’s Langone Medical Center have challenging jobs, even in the best of times. Their patients are babies, some weighing as little as 2 pounds, who require constant and careful care as they struggle to stay alive.


On Monday night, as superstorm Sandy bore down on Manhattan, the nurses’ jobs took on a whole new sense of urgency as failing power forced the hospital’s patients, including the NICU nurses’ tiny charges, to evacuate.





















“20/20″ recently reunited seven of those nurses: Claudia Roman, Nicola Zanzotta-Tagle, Margot Condon, Sandra Kyong Bradbury, Beth Largey, Annie Irace and Menchu Sanchez. They described how they managed to do their jobs – and save the most vulnerable of lives – under near-impossible circumstances.


On Monday night, as Sandy’s wind and rain buffeted the hospital’s windows, the nurses were preparing for a shift change and the day nurses had begun to brief the night shift nurses. Suddenly, the hospital was plunged into darkness. The respirators and monitors keeping the infants alive all went silent.


For one brief moment, everyone froze. Then the alarms began to ring as backup batteries kicked in. But the coast wasn’t clear – the nurses were soon horrified to learn that the hospital’s generator had failed, and that the East River had risen to start flooding the hospital.




Vanishing America: Jersey Shore Boardwalks Washed Away Watch Video



“Everybody ran to a patient to make sure that the babies were fine,” Nicola Zanzotto-Tagle recalled. “If you had your phone with a flashlight on the phone, you held it right over the baby.”


For now, the four most critical patients – infants that couldn’t breathe on their own – were being supplied oxygen by battery-powered respirators, but the clock was ticking. They had, at most, just four hours before the machines were at risk of failing.


Annie Irache tended to the most critical baby — he had had abdominal surgery just the day before – as an evacuation of 20 NICU babies began.


“[He] was on medications to keep up his blood pressure,” Irache said, “and he also had a cardiac defect, so he was our first baby to go.”


One by one, each tiny infant, swaddled in blankets and a heating pad, cradled by one nurse and surrounded by at least five others, was carried down nine flights of stairs. Security guards and secretaries pitched in, lighting the way with flashlights and cell phones.


The procession moved slowly. As nurses took their careful steps, they carefully squeezed bags of oxygen into the babies’ lungs.


“We literally synchronized our steps going down nine flights,” Zanzotto-Tagle said. “I would say ‘Step, step, step.”


With their adrenaline pumping, the nurses said, it was imperative that they stay focused.


“We’re not usually bagging a baby down a stairwell … n the dark,” said Claudia Roman. “I was most worried about, ‘Let me not trip on this staircase as I’m carrying someone’s precious child, because that would be unforgivable.”


When the medical staff and the 20 babies emerged, a line of ambulances was waiting. A video of Margot Condon cradling a tiny baby as she rode a gurney struck a chord worldwide. But Condon said she had a singular goal.


“I was making sure the tube was in place, that the baby was pink,” she said. “I was not taking my eyes off that baby or that tube.”


Like other nurses, she did not feel panic. Her precious patient helped keep her calm.


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Nadir must pay £5m compensation


























Former tycoon Asil Nadir has been ordered to pay £5m compensation in two years or face six more years in prison.





















The 71-year-old was jailed for 10 years in August for stealing £28.8m from his Polly Peck empire in the 1980s.


He claimed he had no assets after prosecutors demanded £60m in compensation to administrators.


But trial judge Mr Justice Holroyde said it was not true that Nadir had not received any significant income after fleeing to Cyprus in 1993.


He left the UK for northern Cyprus while awaiting trial but returned in 2010 saying he wanted to clear his name.


‘Systematically disbelieved’


Former Stock Exchange listed company Polly Peck International [PPI] collapsed in 1990 owing £550m and Nadir was declared bankrupt two years later.


PPI began as a small fashion company but expanded into the food, leisure and electronics industries under Nadir’s ownership, growing into a business empire with more than 200 subsidiaries worldwide.


Continue reading the main story



Why is Asil Nadir being made to pay £5m in compensation when he was found guilty of stealing £29m?


In fact the prosecution had sought a compensation order in the sum of £60m covering the £29m that he had stolen, plus the interest that would have accrued since the thefts which took place between 1987-90.


The judge found that, in the absence of any help from Nadir about the true nature of his finances, he was having to do the best that he could on the evidence available, and was erring on the side of generosity in fixing upon £5m.


Nadir now has two years to pay the money. If he fails to do that, he will be brought before a magistrates’ court. It can normally only sentence a person to six months, so the judge Mr Justice Holroyde has enlarged its powers to enable it to sentence Nadir to anything up to an additional six years’ imprisonment.



By 1990 it was on the FTSE 100 index and was one of the stock exchange’s best performing companies but the share price collapsed after the Serious Fraud Office raided its offices.


BBC legal affairs correspondent Clive Coleman said Nadir’s case had been “systematically disbelieved by the judge”.


Nadir had argued in the 17 years he lived in Cyprus he had engaged in no commercial activity and filed a document saying he had no assets or means, living on the generosity of his mother and a girlfriend.


But the judge said: “It is not true that Mr Nadir received no significant income or owned no significant assets since 1993.”


Mr Justice Holroyde, sitting at the Old Bailey, also said he found Nadir’s sister to be “evasive and untruthful” in her evidence.


‘Side of caution’


It was argued on his behalf that Nadir had not taken part in business during his years in exile.


But the judge said he could not accept that “such a proud and talented man” would have lived off handouts from his mother and a girlfriend.


He added: “Why would he have impoverished and demeaned himself in such a way?”


Nadir had not helped in revealing his finances but the judge said he did not think he could make an order for the full amount.


He said: “Conscious that I am probably erring on the side of caution and being more generous to the defendant than he deserves, I believe he has the means to pay compensation of £5m.”


Nadir thanked the judge from the dock before being taken away to Belmarsh prison. He may be released after serving half of both sentences.


The judge also ruled that Turkish airline boss Hamit Cankut Bagana could apply for the return of the £250,000 security he paid to allow Nadir bail.


Clare Whitaker, of the Serious Fraud Office, said outside court it was pleased that the victims of the collapse of Polly Peck had been given the opportunity for compensation.


BBC News – Business



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As foreigners go, Afghan city is feeling abandoned

























KANDAHAR, Afghanistan (AP) — By switching from studying business management to training as a nurse, 19-year-old Anita Taraky has placed a bet on the future of the southern Afghan city of Kandahar — that once foreign troops are gone, private-sector jobs will be fewer but nursing will always be in demand.


Besides, if the Taliban militants recapture the southern Afghan city that was their movement’s birthplace and from which they were expelled by U.S.-led forces 11 years ago, nursing will likely be one of the few professions left open to women.





















Taraky is one of thousands of Kandaharis who are weighing their options with the approaching departure of the U.S. and its coalition partners. But while she has opted to stay, businessman Esmatullah Khan is leaving.


Khan, 29, made his living in property dealing and supplying services to the Western contingents operating in the city. Property prices are down, and business with foreigners is already shrinking, so he is pulling out, as are many others, he said.


Many are driven by a certainty that the Taliban will return, and that there will be reprisals.   


“From our baker to our electrician to our plumber, everyone was engaged with the foreign troops and so they are all targets for the Taliban. And unless the government is much stronger, when the foreign troops leave, that is the end,” Khan said.


The stakes are high. Kandahar, Afghanistan’s second city, is the southern counterweight to Kabul, the capital. Keeping Kandahar under central government control is critical to preventing the country from breaking apart into warring fiefdoms as it did in the 1990s.


“Kandahar is the gate of Afghanistan,” said Asan Noorzai, director of the provincial council. “If Kandahar is secure, the whole country is secure. If it is insecure, the whole country will soon be fighting.”


Even though Kandahar city has traffic jams and street hawkers to give it an atmosphere of normality, there are dozens of shuttered stores on the main commercial street, it’s almost too easy to find a parking space these days, and shopkeepers are feeling the pinch.


Dost Mohammad Nikzad said his profits from selling sweets have dropped by a half or more in the past year, to about $ 30 a day, and he has had to cut back on luxuries.


He said that every month he would buy a new shalwar kameez, the tunic favored by Afghan men; now he buys one every other month.


“I only go out to eat at a restaurant once a week. Before I would have gone multiple times a week,” Nikzad said, as he stood behind his counter, waiting for customers to show.


The measurements of violence levels contradict each other. On the one hand, many Kandaharis say things are better this year. On the other hand, the types of violence have changed and, to some minds, gotten worse.


“Before, we were mostly worried about bomb blasts. Now … we are afraid of worse things like assassinations and suicide attacks,” said Gul Mohammad Stanakzai, 34, a bank cashier.


Prying open the Taliban grip on Kandahar and its surrounding province has cost the lives of more than 400 international troops since 2001, and many more Afghans, including hundreds of public officials who have been assassinated by the Taliban.


Kandahar province remains the most violent in the country, averaging more than five “security incidents” a day, according to independent monitors. In Kandahar city, suicide attacks have more than doubled so far this year compared with the same period of 2011, according to U.N. figures.


“They are not fighting in the open the way they were before. Instead they are planting bombs and trying to get at us through the police and the army,” said Qadim Patyal, the deputy provincial governor.


The Taliban have said in official statements that they are focusing more on infiltrating Afghan and international forces to attack them. In the Kandahar governor’s office, armed Afghan soldiers are barred from meetings with American officials lest they turn on them, Patyal said.


And many point out that the “better security” is only relative. By all measures — attacks, bombings and civilian casualties — Kandahar is a much more violent city now than in 2008, before U.S. President Barack Obama ordered a troop surge.


There are no statistics on how many people have left the city of 500,000, but people are fleeing the south more than any other part of the country, according to U.N. figures. About 32 percent of the approximately 397,000 people who were recorded as in-country refugees were fleeing violence in the south, according to U.N. figures from the end of May.


The provincial government, which is supposed to fill the void left by the departing international forces, has suffered heavily from assassinations. It suffered a double blow in July last year with the killing of Ahmed Wali Karzai, the half-brother of President Hamid Karzai who was seen as the man who made things work in Kandahar, and Ghulam Haider Hamidi, the mayor of the city.


Now, Noorzai says, he can neither get the attention of ministers in Kabul nor trust city officials to do their jobs.


He remembers 2001, when he and others traveled to the capital flying the Afghan flag which had just been reinstated in place of that of the ousted Taliban. “People were throwing flowers and money on our car, they were so happy to have the Afghan flag flying again,” he said.


“When we got power, what did we give them in return? Poverty, corruption, abuse.”


Mohammad Omer, Kandahar’s current mayor, insists that if people are leaving the city, it is to return to villages they fled in previous years because now security has improved.


Zulmai Hafez disagrees. He has felt like a marked man since his father went to work for the government three years ago, and is too frightened to return to his home in the Panjwai district outside Kandahar city. He refused to have his picture taken or to have a reporter to his home, instead meeting at the city’s media center.


“It’s the Taliban who control the land, not the government,” Hafez said. He notes that the government administrator for his district sold off half his land, saying he would not be able to protect the entire farm from insurgents. Many believe the previous mayor was murdered because he went after powerful land barons.


Land reform is badly needed, and the mayor is angry about people who steal land, but he offers no solution. Kandahar only gets electricity about half the day. The mayor says it’s up to the Western allies to fix that. But the foreign aid is sharply down. Aid coming to Kandahar province through the U.S. Agency for International Development, the largest donor, has fallen to $ 63 million this year from $ 161 million in 2011, according to U.S. Embassy figures.


The mayor prefers to talk about investing in parks and planting trees. “I can’t resolve the electricity problem, but at least I can provide a place in the city for people to relax,” he said.


The only people thinking long-term appear to be the Taliban.


“The Americans are going and the Taliban need the people’s support, so they are trying to avoid attacks that result in civilian casualties,” said Noor Agha Mujahid, a member of the Taliban shadow government for Kandahar province, where he oversees operations in a rural district. “After 2014 … it will not take a month to take every place back.”


One of the biggest worries is the fate of women who have made strides in business and politics since the ouster of the Taliban.


“What will these women do?” asked Ehsanullah Ehsan, director of a center that trains more than 800 women a year in computers, English and business. It was at his center where Anita Taraky studied before switching to nursing.


“Even if the Taliban don’t come back, even if the international community just leaves, there will be fewer opportunities for women,” he said.


On the outskirts of the city stands one of the grandest projects of post-Taliban Kandahar — the gated community of Ayno Maina with tree-lined cement homes, wi-fi and rooftop satellite dishes.


Khan, the departing businessman, says he bought bought 10 lots for $ 66,000 in Ayno Maina and has yet to sell any of them despite slashing the price,


He recalled that when he first went to the project office it was packed with buyers. “Now it is full of empty houses. No one goes there,” Khan said.


Only about 15,000 of the 40,000 lots have been sold, and 2,400 homes built and occupied, according to Mahmood Karzai, one of the development’s main backers and a brother of President Karzai. He argues, however, that prices are down all over Afghanistan, and that Ayno Maina is still viable, provided his brother gets serious about reform that will attract investors.


“Afghanistan became a game,” he said over lunch at the Ayno Maina office. “The game is to make money and get the hell out of here. That goes for politicians. That goes for contractors.”


He shrugged off allegations that he skimmed money from Ayno Maina, saying the claims were started by competitors in Kabul who assume everyone who is building something in Afghanistan is also stealing money.


He said the money went where it was needed: to Western-style building standards and security.


In downtown Kandahar, a deserted park and Ferris wheel serve as another reminder of thwarted hopes. Built in the mid-2000s, the wheel has been idle for two years according to a guard, Abdullah Jan Samad. It isn’t broken, he said, it just needs electricity. A major U.S.-funded project to get reliable electricity to the city has floundered and generators that were supposed to provide a temporary solution only operate part-time because of fuel shortages.


“The government should be paying for maintenance for the Ferris wheel,” the guard said. “When you build something you should also make sure to maintain it.”


____


Associated Press Writer Mirwais Khan contributed to this report from Kandahar.


Asia News Headlines – Yahoo! News



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News Summary: Android dominates in 3Q

























DOMINANCE: Google‘s Android software for mobile devices was running on 75 percent of smartphones shipped in the third quarter.


DISTANT SECOND: Apple‘s iOS system, used in iPhones, was second with a market share of 15 percent, according to an IDC study. Apple’s new iPhone didn’t come out until late in the quarter.





















SIGNIFICANCE: Google makes its operating system software available to phone makers to use in their devices for free. In doing so, Google wins prime placement for its online services, including search and maps. Apple does not license its iOS system to others.


Wireless News Headlines – Yahoo! News



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Factbox: Mitt Romney, Republican presidential candidate

























(Reuters) – Republican presidential candidate Mitt Romney, the former governor of Massachusetts, is pursuing the White House for the second time.


Here are key facts about him.





















- Romney, 65, espouses traditional Republican positions to cut taxes, reduce federal regulations, shrink government spending and bolster the U.S. military. He vows to create 12 million new jobs in his first term with a plan focused on domestic energy development, expanded free trade, improving education, reducing the deficit and championing small business.


- He lost the 2008 Republican presidential nomination to Senator John McCain but entered this year’s race with a large campaign war chest and the blessing of many in the party establishment. Conservative unease over his reputation as a moderate led to a stiff challenge in the Republican primaries.


- His net worth has been estimated at between $ 190 million and $ 250 million, making him one of the wealthiest people to ever run for the presidency. Romney has been attacked for holding money overseas and for not disclosing as many tax releases as his opponents have demanded.


- Romney proposes to lower individual income taxes across the board to 20 percent while closing some loopholes, which he says would stimulate economic growth without widening the deficit. He supports restructuring the Social Security retirement program and the Medicare health entitlement for the elderly.


- He is a fifth-generation member of the Church of Jesus Christ of Latter-Day Saints, or Mormon church. He was a Mormon missionary in France for more than two years after leaving high school and later became bishop and stake president in Boston, roles akin to being a lay pastor. His faith, however, is viewed with suspicion by some conservative evangelical Christians.


- Born into a well-off family and raised near Detroit, Romney was exposed to politics early. His father, George, was chairman of American Motors Corporation and governor of Michigan from 1963 to 1969. George Romney lost a bid for the Republican presidential nomination in 1968 and served in President Richard Nixon’s Cabinet.


- In 1994, the younger Romney ran for a U.S. Senate seat in Massachusetts as a moderate Republican, but was handily defeated by incumbent Democratic Senator Edward Kennedy. Eight years later, Romney was elected governor of Massachusetts, where he instituted a statewide healthcare reform that became a model for Obama’s 2010 national healthcare overhaul.


- In 1999, Romney took over as head of the committee organizing the 2002 Winter Olympics in Salt Lake City, Utah, which had been plagued by cost overruns and scandal, and produced a successful event that helped establish his national reputation as a premier problem-solver.


- As his party moved to the right, Romney changed his positions on sensitive social issues, including abortion and gay rights. That fueled criticism that he lacked core beliefs and was motivated only by ambition. Romney referred to himself as “severely conservative” during the 2012 primaries but has projected a moderate image during the general election campaign.


- Romney met his wife, Ann, at a high school dance and they married in 1969, while they were still in college. They have five sons and 18 grandchildren. Romney has an English degree from Utah’s Brigham Young University, which is owned and run by the Mormon church, and a joint law degree and MBA from Harvard. He speaks French.


- Romney joined the management consultancy Bain & Company in 1977 and climbed the ranks, and in 1984 co-founded the highly profitable private equity arm Bain Capital, which invested in start-ups and fledgling companies including Staples, Sports Authority and Domino’s Pizza. Critics have highlighted the number of jobs Bain cut while Romney was at its helm.


- Romney has battled a reputation for being uncomfortable and stiff when campaigning and somewhat aloof when relating to ordinary Americans. The New York Times once described his campaign persona as “All-Business Man, the world’s most boring superhero.”


- He has little foreign policy experience. He stumbled in August during a gaffe-filled trip to Britain, Israel and Poland that was meant to burnish his credentials on the world stage. He has labeled Russia as America’s “number one geopolitical foe” and said that preventing Iran from obtaining a nuclear capability should be Washington’s highest national security priority.


(Compiled by Americas Desk; Editing by Paul Simao)


Seniors/Aging News Headlines – Yahoo! News



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Obama, Romney take aim at key Midwestern swing states

























HILLIARD, Ohio (Reuters) – President Barack Obama and Republican Mitt Romney made late pitches in the political battlegrounds of the upper Midwest on Friday, a region likely to decide the winner in next week’s closely fought election for the White House.


In dueling campaign appearances in the swing states of Ohio and Wisconsin, the two contenders battled over the economy on a day when the government reported the jobless rate ticked up to 7.9 percent in October but that employers stepped up their hiring.





















In Wisconsin, where polls show Romney trailing Obama, the Republican laid out the case for his election and said the jobs report was more evidence of the president’s failing leadership.


“The question of this election comes down to this: do you want more of the same or do you want real change?” Romney said in a suburb of Milwaukee after getting the endorsement of former Green Bay Packers star quarterback Bart Starr.


With four days left until Tuesday’s election, Obama and Romney are essentially tied in national polls, but the president holds a slight edge in the battleground states that are crucial to gaining the 270 electoral votes needed to win.


On a stop in Ohio, the most heavily contested swing state and a vital cog in the electoral math for both candidates, Obama said the jobs report was evidence “we have made real progress.”


Obama, whose federal rescue of the auto industry has been popular in a state where one in eight jobs is auto industry-related, hammered Romney for a recent statement that Chrysler planned to move Jeep production to China.


Chrysler has refuted that, noting it was adding workers to build more Jeeps in Ohio, and the two campaigns have aired advertisements over the issue. Obama said Romney, who opposed a government auto bailout, was trying to scare workers in a desperate bid to make up ground in Ohio.


“I know we’re close to an election, but this isn’t a game. These are people’s jobs, these are people’s lives,” Obama said. “You don’t scare hard-working Americans just to scare up some votes.”


Obama’s advisers said the Jeep controversy, which has featured heavily in the state’s media, had helped the president solidify his lead in Ohio.


“We all felt prior to this week we were in very solid shape in the state of Ohio, and our expectation is that our position’s been strengthened by this,” White House senior adviser David Plouffe told reporters.


While campaigning in the Midwestern heartland, Obama’s team was casting an eye on the Northeast where New York-area motorists were scrambling for gasoline on a third day of panic buying after the storm Sandy devastated the area.


Obama won plaudits for turning his attention to storm relief earlier this week, but growing frustration among victims could hurt the Democrat if the federal response is deemed unsatisfactory.


A variety of state polls show Obama still has slight leads in four states – Ohio, Iowa, Nevada and Wisconsin – that would give him 277 electoral votes, barring any surprises elsewhere.


Obama plans to visit Ohio each of the next three days, and will close the campaign on Monday with a swing through his Midwestern safety net of Wisconsin, Ohio and Iowa.


‘LOCK IT IN’


“We want to make sure we lock it in and that it’s definitely in our column,” Obama senior adviser Robert Gibbs said on “CBS This Morning,” when asked why Obama was focusing so much on Wisconsin if he had a solid lead there.


Romney needs a breakthrough in one of those Midwestern states, or an upset in another state where Obama is even more heavily favored, to have a shot at making his electoral math work.


Romney is within striking distance of Obama in four other states with a combined 55 electoral votes – Florida, Virginia, Colorado and New Hampshire.


A series of Reuters/Ipsos online state polls found Obama led Romney among likely voters by a narrow margin of 3 percentage points in Virginia and 2 points in Ohio and Florida. They were tied in Colorado.


The Romney campaign launched ads this week in Pennsylvania, Michigan and Minnesota – Democratic-leaning states where Obama’s lead has dwindled in recent weeks – in an effort to expand the playing field, and Romney will visit Pennsylvania on Sunday.


Republicans say the move is a sign of momentum, while Democrats call it a sign of desperation.


“By every metric, the Obama campaign is doing far worse than they were four years ago. They will continue playing defense on turf they once took for granted – Michigan, Minnesota, and Pennsylvania,” Republican National Committee spokesman Sean Spicer said.


With the polls so close and the outcome unpredictable, both campaigns made plans for a final weekend of get-out-the-vote efforts, focusing on getting their base supporters to the polls and reaching out to independents and the last undecideds.


Romney headed to Ohio after starting the day in Wisconsin, and told voters in both states that Obama had failed to bridge the partisan divide and would be unable to work with Congress and break the gridlock in Washington.


“He promised he’d have a post-partisan presidency but it’s the most partisan I’ve seen,” Romney said during a visit to a machine factory in Etna, Ohio. “I will not represent one party, I will represent one nation.”


Senate Democratic leader Harry Reid said Romney’s conservative agenda had already been rejected by the Democratic-led U.S. Senate and accused him of having a “terrible” relationship with Democrats when he was Massachusetts governor.


“Mitt Romney’s fantasy that Senate Democrats will work with him to pass his ‘severely conservative’ agenda is laughable,” Reid said in a statement. “Senate Democrats are committed to defending the middle class, and we will do everything in our power to defend them against Mitt Romney’s Tea Party agenda.”


(Additional reporting by Steve Holland in Wisconsin and Susan Heavey in Washington; Writing by John Whitesides; Editing by Alistair Bell and Peter Cooney)


Economy News Headlines – Yahoo! News



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Facebook’s Sandberg sells $7.4 million in stock

























SAN FRANCISCO (Reuters) – Facebook Inc Chief Operating Officer Sheryl Sandberg and two other executives at the social networking company sold millions of dollars worth of stock this week as restrictions on insider trading expired.


Sandberg netted about $ 7.44 million by selling roughly 353,000 Facebook shares on Wednesday, according to a filing with the SEC on Friday. Sandberg still owns 18.1 million vested shares of Facebook stock, according to the filing.





















Facebook General Counsel Theodore Ullyot and Chief Accounting Officer David Spillane also sold millions of dollars worth of shares this week, according to filings. All the Facebook executives’ sales were part of pre-arranged stock trading plans.


The sales are the first by Facebook’s senior management following the company’s high-profile initial public offering in May.


The world’s No.1 online social network became the only U.S. company to debut with a market value of more than $ 100 billion, but has seen its value plunge more than 40 percent since then on concerns about its long-term money-making prospects.


Shares of Facebook, which were priced at $ 38 in the IPO, closed Friday’s regular session down 3 cents at $ 21.18.


The flood of shares set to hit the market as insider trading “lock-up” provisions expire in several phases have added to the pressure on Facebook’s stock.


Roughly 230 million shares of Facebook became eligible for trading this week, as trading restrictions for employees expired. Another 800 million shares will be eligible for trading on November 14, significantly expanding the “float” of roughly 692 million Facebook shares that were available for trading as of September 30.


Facebook’s 28-year-old chief executive, Mark Zuckerberg, has committed to not sell any shares before September 2013.


Ullyot sold slightly more than 149,000 shares on Wednesday and Thursday, collecting $ 3.13 million. Ullyot has an additional 1.27 million in vested shares.


Spillane sold 256,000 shares on Wednesday, more than half of his vested shares, for proceeds of $ 5.4 million. Spillane had more than 863,000 Facebook shares, including unvested shares, according to a filing in May.


(Reporting By Alexei Oreskovic; Editing by Bernard Orr)


Social Media News Headlines – Yahoo! News



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Cablevision says Sandy outage hit half of its customers

























NEW YORK (Reuters) – Cable operator Cablevision Systems Corp said on Thursday about half of its 3.3 million customers in the New York, Connecticut and New Jersey area had lost power in the wake of superstorm Sandy, causing widespread disruptions to its service.


Cablevision said in a statement that 1.6 million of its customers were without power while 7,265 of the remaining 1.65 million customers who were not affected by power outages still had no access to Cablevision’s service.





















The company did not respond to questions about how the disruption would impact its financials.


A Barclays analyst, James Ratcliffe, said in a note that “power outages make a good proxy for storm impact on telcos and cable operators, since the same factors which cause power outages (flooding, downed lines) also cause telecom network failures.”


Cablevision, which provide Internet, television and telephone services under the Optimum brand, said, “Following this unprecedented event, loss of electrical power continues to be the primary cause of widespread disruptions of Optimum service.”


It said it had crews working to restore service and would continue to provide updates.


Last year, Cablevision said it took a hit of $ 16 million because of Hurricane Irene, a storm that affected the New York area in late August 2011.


“For CVC, with 1.6 million of their subscribers still without power, the impact is likely to be significantly greater than the $ 16 million cost of Irene; we estimate a $ 36 million impact,” Barclays’ Ratcliffe said in his note.


Cable operators Comcast Corp and Time Warner Cable were also having service problems.


Time Warner Cable said it has had no reports of significant damage to its network, but said it was hard to assess the situation because many of its customers have no power.


Cablevision had been due to report earnings November 1, but said on Wednesday it rescheduled the release to November 6.


The company, which mainly serves the New York area but also has operations in Montana and Wyoming, is controlled by the Dolan family. The company also owns a newspaper and TV networks.


Comcast Corp and Verizon Communications also said they had service problems in the wake of the storm, but they did not provide details as to how many customers were affected.


Of all the cable companies, Cablevision has the largest percentage of their subscribers in the area hard hit, Ratcliffe said.


Wireless service providers also struggled to maintain service after the storm due to floods and power outages.


Cablevision stock closed at $ 17.46 on Thursday, up 0.22 percent.


(Additional reporting by Sinead Carew; Editing by Leslie Adler)


TV News Headlines – Yahoo! News



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Vertex posts loss as hepatitis drug sales fall

























(Reuters) – Vertex Pharmaceuticals Inc reported a net loss for the third quarter on Thursday with results hurt by declining sales of its Incivek hepatitis C drug, as the company turned its attention to developing a next generation of treatments for the serious liver disease.


Vertex posted a net loss of $ 57.5 million, or 27 cents per share, compared with a profit of $ 221.1 million, or $ 1.02 per share, a year ago.





















Incivek product revenue fell nearly 23 percent from the previous quarter and 40 percent from a year ago to $ 254.3 million. The company maintained its full-year forecast for Incivek revenue of $ 1.1 billion to $ 1.25 billion.


Results were also affected by a $ 57.6 million charge related to expected future payments under Vertex’s collaboration with Alios BioPharma.


Earlier on Thursday, Vertex announced separate collaborations with GlaxoSmithKline Plc and Johnson & Johnson to test various combinations of its own next-generation hepatitis C medicines with those being developed by GSK and J&J.


Vertex shares closed up 4.6 percent at $ 50.48 on Nasdaq on Thursday, but fell more than 4 percent to $ 48.30 in extended trading after the company released quarterly results.


RBC Capital Markets analyst Michael Yee called the collaboration announcements “a fundamental good positive for Vertex because it gets them moving in the race (for an all oral treatment regimen), albeit one and a half to two years behind Gilead and Abbott.”


The Massachusetts-based biotechnology company reported $ 49 million in revenue from its new cystic fibrosis drug Kalydeco and $ 20 million in royalty revenue from overseas sales of Incivek, known as Incivo in Europe.


Kalydeco currently helps only a small percentage of cystic fibrosis (CF) patients with a specific gene mutation. The company is testing other drugs and combinations with the hope of eventually reaching a larger portion of the CF population.


“In hepatitis C, we are advancing rapidly with our plans to evaluate multiple all-oral regimens of VX-135, both with medicines in our own pipeline and, as we announced earlier today, in collaboration with other companies,” Chief Executive Jeffrey Leiden said in a statement. “We are also advancing toward our goal to help more people with cystic fibrosis.”


Total revenue for Vertex fell to $ 336 million for the quarter from $ 659.2 million a year ago, and was shy of Wall Street estimates of $ 377.1 million.


RBC’s Yee said Kalydeco sales were below Wall Street expectations of about $ 57 million. “The Kalydeco launch looks like it’s reaching a peak penetration in United States and the key for growth here going forward is country by country launches in Europe, and that’s going to take some time over the next six to 12 months,” Yee said.


“What matters here longer term is development of their cystic fibrosis combination program to expand this market from a potential $ 1 billion drug to a $ 3 billion potential program,” Yee added.


Incivek, which was approved in May 2011 to great fanfare as it doubled cure rates and shortened treatment durations compared with older drugs, reached $ 1 billion in sales faster than any drug in pharmaceutical history. But it must still be taken with the older injected drug interferon that causes flu-like symptoms.


As excitement builds for interferon-free, all-oral regimens being pursued by several companies, including Vertex, more patients appear to be delaying treatment, hurting Incivek sales. In addition, hundreds of other potential Incivek patients have been recruited to take part in the many clinical trials of next-generation treatments.


(Reporting by Bill Berkrot in New York; editing by Gary Hill, Matthew Lewis and Carol Bishopric)


Medications/Drugs News Headlines – Yahoo! News



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Barclays faces $470m energy fine


























Barclays has been threatened with fines of $ 470m (£291m) by US regulators to settle accusations it sought to manipulate the California energy markets from 2006-2008.





















The Federal Energy Regulatory Commission has been investigating it, the bank revealed on Wednesday.


Barclays denies the charges. The fine is larger than the one it paid over the Libor rate-rigging scandal.


The bank is also the subject of other regulatory inquiries.


Barclays now has 30 days to contest the fine.


Manipulating prices


The proposed fine is over communications by four traders on Barclays’ West Coast power desk.


The team of four traders – veterans of power firm Mirant, which was fined hundreds of millions of dollars after the California power scandal a decade ago – was said by Ferc to have exchanged messages explaining how they would use certain trades in one market to profit in another.


The traders are alleged to have manipulated power prices to make money with their financial swap positions, causing losses for rival power traders of $ 139m and winning the bank $ 34.9m.


“We believe that our trading was legitimate and in compliance with applicable law,” Barclays spokesman Mark Lane said. “We have co-operated fully with the Ferc investigation, which relates to trading activity that occurred several years ago. We intend to vigorously defend this matter.”


Ferc notified Barclays that it had begun the investigation of Barclays’ Western US power trading on 3 July 2007 – but the bank only informed shareholders on Wednesday.


US authorities are also looking at whether the way that Barclays won business complied with the Foreign Corrupt Practices Act, the other new investigation in a series of scandals that have dented the bank’s reputation.


In June, Barclays was fined £290m by UK and US regulators for attempting to manipulate Libor, an interbank lending rate which affects mortgages and loans.


And in August, the Serious Fraud Office started an investigation into payments between Barclays’ bank and Qatar Holding in 2008, when the bank was raising money in the Middle East during the banking crisis.


The entire financial services industry has come under scrutiny since the financial crisis in 2008.


The industry’s reputation has been battered further by the mis-selling of payment protection insurance (PPI) and of specialist insurance – called interest rate swaps – to small businesses.


BBC News – Business



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