10 Things to Know for Tuesday

This courtroom sketch shows Aurora Police officer Justin Grizzel as he testifies at a preliminary hearing for James Holmes at a district court in Centennial, Colo., on Monday, Jan. 7, 2013. Investigators say Holmes opened fire during the midnight showing of the latest Batman movie on July 20, killing 12 people and wounding dozens. (AP Photo/Bill Robles, Pool) TV OUT

This courtroom sketch shows Aurora Police officer Justin Grizzel as he testifies at a preliminary hearing for James Holmes at a district court in Centennial, Colo., on Monday, Jan. 7, 2013. Investigators say Holmes opened fire during the midnight showing of the latest Batman movie on July 20, killing 12 people and wounding dozens. (AP Photo/Bill Robles, Pool) TV OUT

This courtroom sketch shows James Holmes being escorted by a deputy as he arrives at preliminary hearing in district court in Centennial, Colo., on Monday, Jan. 7, 2013. Investigators say Holmes opened fire during the midnight showing of the latest Batman movie on July 20, killing 12 people and wounding dozens. (AP Photo/Bill Robles, Pool) TV OUT

President Barack Obama shakes hands with choice for Defense Secretary, former Nebraska Sen. Chuck Hagel, center, after announcing Hagel's nomination, Monday, Jan. 7, 2013, in the East Room of the White House in Washington. Obama also announced that he is nominating Deputy National Security Adviser for Homeland Security and Counterterrorism, John Brennan, right, as the new CIA director. (AP Photo/Pablo Martinez Monsivais)

In this Jan. 6, 2013, photo, Washington Redskins quarterback Robert Griffin III (10) hurts his right knee as he falls awkwardly while throwing an incomplete pass under pressure from Seattle Seahawks linebacker Malcolm Smith (53) during the first quarter of their NFL wild card playoff football game in Landover, Md. An injury that sidelines Griffin well into next season is a very real possibility _ or at least it seemed that way Monday, Jan. 7, after head coach Mike Shanahan described the results of tests on the rookie's right knee following a series of plays in their Sunday game that did additional damage to a knee that was just three games removed from suffering a sprained lateral collateral ligament. (AP Photo/The Virginian-Pilot, L. Todd Spencer) MAGS OUT

Washington Redskins quarterback Robert Griffin III twists his knees as he reaches for the loose ball after a low snap during the second half of an NFL wild card playoff football game against the Seattle Seahawks in Landover, Md., Sunday, Jan. 6, 2013. (AP Photo/Matt Slocum)

Your daily look at late-breaking news, upcoming events and the stories that will be talked about Tuesday:

1. NOMINEE FOR DEFENSE A POSSIBLE TRAILBLAZER

If confirmed, Chuck Hagel would the first enlisted soldier and first Vietnam vet to head the Pentagon.

2. CARNAGE IN COLO. MOVIE HOUSE RECALLED DURING HEARING

"After I saw what I saw in the theater ? horrific ? I didn't want anyone else to die," says one officer who ferried the wounded to a hospital.

3. CHURCH SEES RISK IN VENEZUELA

Uncertainty over Chavez's health makes for a potentially dangerous and violent situation, Catholic leaders warn.

4. A RAY OF HOPE IN HEALTH CARE

Americans kept their medical spending in check for three years in a row.

5. WHAT JIMMY KIMMEL WON'T CHANGE IN NEW TIME SLOT

He disagrees with the notion that moving to 11:35 p.m. ET, starting Tuesday, means his show must be "more wholesome."

6. MAKING SURE KIDS WITH SMART PHONES DON'T DO ANYTHING DUMB

A mommy blogger posts the code of conduct she and her 13-year-old son agreed to before she gave him an iPhone for Christmas.

7. WHERE 17 BILLION EARTH-SIZE PLANETS RESIDE

A new estimate for the Milky Way means there are more than two such planets for every person on Earth.

8. ARE WE THERE YET?

Simulations of a 17-month journey to Mars made would-be spacemen drowsy ? acting like bears on the verge of hibernation.

9. COMMUNIST REGIME NOT FEELING REGGAETON

The Cuban government is cracking down on the racy musical genre that has young people bumping and grinding on the dance floor.

10. A ROUT, NOT A CLASSIC

No. 2 Alabama bashed No. 1 Notre Dame 42-14 to roll to its second straight BCS championship.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2013-01-07-10%20Things%20to%20Know-Tuesday/id-26b6be95e5d2425bb570e14e33f38e77

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Hitting a high Note: 'phablets', chips to drive Samsung fourth quarter profit

SEOUL (Reuters) - Samsung Electronics, the world leader in mobiles and memory chips, likely earned a quarterly profit of $8.1 billion, as it sold close to 500 handsets every minute and as demand picked up for the flat screens it makes for mobile devices, including those for rival Apple Inc products.

That run of five straight record quarters may end in January-March on weak seasonal demand, though a strong pipeline of smartphones - the South Korean group's biggest earner - and improving chip prices have eased concerns that earnings growth could slow this year, powering Samsung shares to record levels.

"Guidance is unlikely to disappoint given new product launches and a further upturn in cyclical parts of the business," said Morgan Stanley analyst Shawn Kim. "Smartphone momentum has not decelerated, despite Apple's new iPhone, and the business continues to be driven by its flagship products.

"This time, it's the Galaxy Note II ... with the upside in unit shipments mainly from the U.S. We expect strong momentum to continue in the first quarter."

While Apple rolled out just a single new smartphone, the iPhone 5, last year globally, Samsung bombarded the market with 37 variants tweaked for regional and consumer tastes, from high-end smartphones to cheaper low-end models. By comparison, Taiwan's HTC Corp released 18 models, Nokia 9 and LG Electronics 24.

Samsung, valued at close to $230 billion, gives its October-December earnings guidance on Tuesday before the market opens. The full earnings release is expected by January 25.

A HIGH NOTE

Shipments of Samsung's flagship Galaxy S III, which overtook the iPhone 4S in the third quarter to become the world's best-selling smartphone, are likely to have slipped to around 15 million in the last quarter from 18 million in July-September. But estimated sales of around 8 million Galaxy Note II phone-cum-tablets, or 'phablets', should more than make up for that - pushing overall smartphone shipments to around 63 million, analysts estimate.

There has been increased speculation that Samsung will launch the next version of its Galaxy S in the first quarter, possibly with an unbreakable screen and full high-definition quality resolution boasting 440 pixels per inch, as well as a better camera and a more powerful processor.

"Samsung's smartphone shipments are likely to grow even in a seasonally weak first quarter. The early launch of the Galaxy S IV would drive second-quarter growth momentum," said BNP Paribas Securities analyst Peter Yu, who predicts Samsung's 2013 operating profit will grow 25 percent to almost $35 billion.

Samsung is forecast to raise its smartphone sales by 35 percent and widen its lead over Apple this year, driven by its diversified product line-up, said Neil Mawston, Executive Director at market researcher Strategy Analytics, which forecasts Samsung will sell 290 million smartphones this year, up from a projected 215 million in 2012.

Apple's smartphone sales are projected to reach 180 million this year, up by a third from last year's 135 million.

STRONG NUMBERS

Samsung is likely to say on Tuesday that its October-December operating profit increased 65 percent to 8.7 trillion won from a year ago, a Reuters survey of 16 analysts showed. That would be 7 percent higher than its previous record of 8.1 trillion won in July-September.

Profits from the mobile division are seen slightly higher, at around 5.8 trillion won, than the previous quarter's 5.63 trillion won - and more than double last year's level. A recovery in chip prices and flat screens may have also boosted its component earnings, propelled by booming sales of mobiles carrying Samsung's chips, micro-processors and flat screens.

Reflecting the upbeat outlook, shares in Samsung, Asia's most valuable technology stock, last week hit a life high of 1.584 million won ($1,500). The stock gained 44 percent in 2012, easily outpacing a 9 percent rise on the broader Korean market and topping Apple's 31 percent increase.

The shares eased a third of one percent on Monday.

Samsung, LG Electronics and four Taiwan companies were last week fined millions of dollars for allegedly manipulating liquid crystal display panel prices in China in 2001-06, the state-run news agency Xinhua reported.

(Editing by Ian Geoghegan)

Source: http://news.yahoo.com/hitting-high-note-phablets-chips-drive-samsung-fourth-092056249--sector.html

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Land policies encouraging encroachers in Karnataka

Justice and Acting Chief Justice of High Court of Karnataka said that lack of logic in land laws is encouraging land mafia, mainly in urban areas.

The existing Land Acquisition Act is the biggest enemy of the common man which has only encouraged land mafia through legislation. High Court Justice said that laws related to land need to be improved, to ensure that owners of the property get a share of development. The growing property price and land mafias are creating problem for the middle income people from property buying.

Justice of Karnataka High Court also said that various governments have failed to develop district and taluk head quarters of which they were not able to prevent migration to cities. The urban areas does not have infrastructure or facilities to deal with the massive population inflow. Bangalore city is mushroomed by slums.

An Union Ministry of Housing and Poverty Alleviation officials said that the proposed law for property rights for urban poor, to ensure spaces for street vendors is under consideration and it will soon be placed before the Parliament. Residency rights of urban poor is one of the major issue that need to be addressed. Several governmental programmes, like JNNURM were designed for this purpose but due to lack of sufficient response from the State, they could not avail the funds and use them in time.

Read more legal news:?

BDA allots G category sites violating High Court order

Karnataka HC ordered BBMP not to allow reconstruction

Source: http://www.commonfloor.com/news/land-policies-encouraging-encroachers-in-karnataka-39233

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Real Estate News Update: Shadow Inventory & Foreclosures Filings ...

The current real estate market is marked with low home prices and interest rates ? providing the perfect opportunity for purchasing real estate. Couple these low home prices and interest rates with a decent number of distressed properties (foreclosures, short sales, etc.) on the market, and what we have is an investor?s dream. In short, the current real estate market is incredibly appealing to investors and potential home buyers and as a result these discounted properties are quickly leaving the market.

Now that consumer confidence is rising ? as the real estate market makes progress toward recovery and the nation?s economic state starts to improve ? many investors and home buyers are snatching up distressed properties from the market at record speed.

Therefore, if you are looking for great foreclosure deals, then the time is now ? the shadow inventory is quickly declining and the number of foreclosure filings is decreasing.

Declining Shadow Inventory

What, exactly, is the shadow inventory? In short, the shadow inventory includes the number of homes that will more than likely hit the market as a result of foreclosure in the near future. This number is calculated based on the number of homes at some stage of the foreclosure process, including homes with significantly delinquent mortgages.

In October of 2011, the shadow inventory was 2.6 million; however, according to a recent report by CoreLogic the shadow inventory dropped to 2.3 million in October of 2012. The declining shadow inventory is more than likely due to not only high investor demand for distressed properties, but also the foreclosure settlement agreement that has pushed many lenders to promoting short sales and providing home loan modifications.

A declining shadow inventory is great news for real estate market progress, but is also indicative of fewer foreclosures in the pipeline and therefore fewer opportunities for investors to obtain distressed properties below market value.

Foreclosure Filings Decrease

Along with the declining shadow inventory, the number of foreclosure filings has also decreased 19% from November 2011 to November 2012. Although many states are starting to see significant signs of real estate market recovery (higher home prices, lower foreclosure filings, increased home sales, etc.), other states are still struggling.

For example, Florida?s recovery has been significantly delayed as a result of the state?s lengthy judicial foreclosure process. However, the state?s economy is also linked to new construction which tanked throughout the real estate market crash. As a result, the state has completed over 400,000 foreclosures over the last 5 years, which does not include the homes within the state that are currently at some stage of the foreclosure process.

In conclusion, the real estate market is making strides toward recovery and discounted properties are becoming harder to find. However, although incredible deals on distressed properties are becoming harder to find (due to high demand, a smaller shadow inventory, and lower number of foreclosure filings) ? and will more than likely continue to become more difficult of find throughout the foreseeable future ? there are still several states that are known for their great foreclosure deals.

Most Active Cities

• Miami, FL
• Brooklyn, NY
• Houston, TX
• Chicago, IL
• Los Angeles, CA
• San Antonio, TX
• Jacksonville, FL
• Bronx, NY
• San Jose, CA
• Tampa, FL
• Orlando, FL
• Detroit, MI
• Dallas, TX
• Indianapolis, IN
• Phoenix, AZ
• Fort Lauderdale, FL
• Philadelphia, PA
• San Diego, CA
• Atlanta, GA
• Fort Worth, TX
• Las Vegas, NV

Most Active Counties

Source: http://www.foreclosure-support.com/wp/foreclosure-homes/real-estate-news-update-shadow-inventory-foreclosures-filings-decline-01042430.html

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For entrepreneurial couple, restaurant closure marks an end to ...

Article date: Jan 5 2013

Kelly Sloan, The Business Times

After 16 years as a mainstay on Main Street, Dolce Vita Italian Restaurant has closed.

In what they described as a ?difficult and heart-wrenching? decision made just before Christmas, owners Rick and Susan Crippen? served the last meals and poured the last glasses of wine on Dec. 29.

Dolce Vita ? Italian for ?sweet life? ? opened in 1996. Rick Crippen began working there in 1999. In 2004, Rick and wife Susan purchased the restaurant.

A few days after closing, the Crippens said down amidst piled tables, empty wine racks and a darkened bar to discuss what lead to their decision. What they described was a perfect storm of debilitating circumstances.

?The construction on Main Street had a terrible impact on our business? Susan said of the 2010 Downtown Uplift renovation project. The construction, occurring at the outset of a general economic downturn, led to a reduction in business in which the restaurant never recovered.

?For about six months we had nobody coming in,? Susan said citing the inaccessibility to Main Street, a resulting lack of visibility and parking issues. ?The mindset during the uplift was that going downtown was not worth the hassle.?

?We were running a business off of six months of income instead of 12, but we still had 12 months? worth of overhead,? she added.

Coming as it did on the heels of a regional energy downturn and recession, completion of the project ? which replaced aging water pipes and made aesthetic improvements to Main Street ?didn?t bring with it the return of customers.

?We lost them with the construction. And with the economy the way it was, they didn?t come back? said Rick, adding that 2008 and 2009 were the best years for the restaurant.

Parking was seen as a major impediment to doing business downtown, even before the construction. The Crippens said they?d received or heard numerous complaints about parking despite the construction of a nearby parking garage.

Susan said many people, especially older customers, are wary of using the parking structure. ?A lot of folks have complained to us that it?s complicated, the machines don?t give change, they?re not easy to read and so forth.? She also cited safety concerns. ?Unfortunately, many people simply did not feel the garage was safe, especially in the dark.?

But other issues also factored into the decision to close Dolce Vita.

?We were seeing more impact from more taxes; more state, local and federal regulations; more infringements on employer?s rights, you name it,? Rick said.

Susan, who managed the finances of Dolce Vita and was until the closure of the restaurant the local representative to the Colorado Restaurant Association, agreed. ?We were seeing increased payroll taxes, utility taxes, sales taxes, unemployment tax,? she said. ?We were also seeing more and more regulations each and every year coming from the food industry responding to government requirements.?

The Crippens also blamed increasing costs. ?All of our input costs were going up,? Susan said, noting the rise in food prices, especially for dairy products. ?Our dairy costs went up 48 percent in the last six months.?

The fact both of them earned income from the same source made the situation even more difficult for the Crippens. Said Rick: ?Both of us earn our money from this restaurant, so we can?t rely on the others? income to help us through hard times.?

Despite his many years in the restaurant industry and other ups and downs in the energy economy, Rick said this is the toughest business environment he?s ever encountered.

Still, neither Susan nor Rick are bitter. Although saddened a business that encompassed their lives for eight years has come to an end, they said they cherish the friends they?ve made along the way and remain proud of their impact on the community.

?This was not just a restaurant. It was our home, our life, our passion,? Susan said. ?We have seen people hold their wedding receptions, celebrate births, first homes, graduations, even hold wakes for beloved family members. This was a family atmosphere, and we regarded our customers as family.?

Susan said she mourns the greater loss to the community from losing a small businesses. ?Small business in any town is a tapestry of who we are ?. It is what distinguishes us from Durango or Aspen? or Canyon City.? Moreover, small businesses are often the largest donors to local causes, she said. ?When we were doing well, we would donate to just about every cause that approached us, from local charities to schools.?

In the end, it was a combination of factors that led to the difficult decision to close Dolce Vita ?We know the construction had to happen, the pipes had to get fixed. We just wish that the timing was better,? Susan said.

Added Rick: ?We did all we could to get people back in the door. But at the end of the day, restaurant money is disposable income, and people just don?t have that now.?

Related Articles:

1. How sweet it is: Fourth-generation candy maker on the job
2. Couple launches product expected to bring smiles to their customers
3. Soup?s on with restaurant opening
4. Soup?s on with plans to bring restaurant franchise to Grand Junction
5. New restaurant guide fare offering for visitors
6. Entrepreneurial event to offer range of resources

Source: http://thebusinesstimes.com/for-entrepreneurial-couple-restaurant-closure-marks-an-end-to-sweet-life/

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Scenes From The New Congress (talking-points-memo)

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Apple acknowledges Do Not Disturb bug, says it will magically fix itself on January 8th

Well, it's no "you're holding it wrong," but we can't say we're 100 percent satisfied with Apple's response to the recent discovery of a bug affecting iOS's Do Not Disturb feature. Starting January first, ringers failed to turn back on after the predetermined silent period. Today Cupertino seemed to acknowledge the existence of the flaw but, rather than offer a patch, it simply told customers to be patient:

"Do Not Disturb scheduling feature will resume normal functionality after January 7, 2013. Before this date, you should manually turn the Do Not Disturb feature on or off."

Understandably, it'll probably take longer than five days to find the offending code, whip up a fix, test it and roll it out to users. Still, a thorough explanation is always appreciated and the iOS faithful have already been patient enough.

Filed under: Software, Mobile

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