Tuesday, January 31, 2012

Democrats slam Tea Party ties in Oregon special election (Reuters)

(Reuters) ? An Oregon special election in which national Democrats have sought to paint the Republican congressional candidate as a Tea Party radical foreshadows a tactic the party will employ in its quest to take back Congress seats lost in the 2010 election.

The Democratic Congressional Campaign Committee has spent about $1.3 million in the race, half of it opposing Republican businessman Rob Cornilles in Tuesday's election to replace Democratic ex-Representative David Wu.

Television advertising and a website run by the committee, which supports Democrats in House of Representatives races, slam Cornilles for referring to himself as "the original Tea Party candidate" during a previous congressional run.

The race between Cornilles and Democratic state Senator Suzanne Bonamici is a preview of an already heated election year when outside groups are pumping money into opposition advertising, and Democrats plan to attack conservatives who have curried favor with the Tea Party.

"There is no doubt that races across the country will be about a contrast between Tea Party extremism that protects the ultra-wealthy versus defenders of the middle class and Medicare," said Jesse Ferguson, a spokesman for DCCC.

"But in each district, the message will fit the district, the local values of the community and the candidates running."

The race has attracted an unusual level of interest for a traditionally safe Democratic seat. Obama easily won the Portland-area district in 2008, and Wu beat Cornilles in a 2010 election year that heavily favored Republicans elsewhere in the country.

Wu, who was in his seventh term, in July announced he would resign after a sex scandal. The race to replace him will wrap up on Tuesday, when Oregon's vote-by-mail ballots are due.

The election has drawn almost $2 million in independent expenditures since November despite the fact that early polling showed Bonamici, a former Federal Trade Commission lawyer who has served in the Oregon Senate since 2008, with a considerable lead.

CYBER ATTACKS

Democrats have made Cornilles' Tea Party statement, made at a May 2010 event, a central part of their attack on the Republican, who runs a sports-consulting business.

Teapartycornilles.com, a website paid for by the DCCC, features the quote, raps Cornilles for his "extreme" opposition to abortion and claims he supports ending tax cuts for middle-class families.

A fake Twitter account, @TPartyCornilles, sends out comments such as, "Will Republican Rob Cornilles try to run from his extreme Tea Party anti-choice record in tonight's debate?"

Many Republican candidates attended Tea Party events and sought endorsements from local chapters in 2010 to fend off primary challenges or third-party candidates as support for the Tea Party's small-government mantra swelled.

But public sentiment has since shifted, with Tea Party-sanctioned Republican freshmen in the House of Representatives taking much of the blame for standoffs over the extending debt ceiling, extending payroll taxes and other issues in 2011.

Oregon Republicans say all the Democratic-aligned money is proof Democrats are worried about losing more seats in 2012. Cornilles' campaign recently released an internal poll showing him within four points of Bonamici.

"I think the DCCC has kind of hit the panic button here...the more they've spent, the closer the numbers have gotten," said Greg Leo, chief of staff for the Oregon Republican Party.

"I don't think it's really an accurate referendum on the Tea Party, nor is it an accurate description of Rob Cornilles," Leo said, pointing to the candidate's refusal to sign Grover Norquist's no-tax pledge as evidence Cornilles is not driven by the Tea Party.

The multi-media approach to attacking Tea Party-aligned candidates could be employed in other districts leading up to the November general election when all House seats and a third of the Senate are up for re-election.

"If somebody comes out as a Tea Partier, we're going there," said Trent Lutz, executive director of the Oregon Democratic Party. "If they drape themselves in the Tea Party banner, then absolutely it's something that we will discuss."

Democrats also have run sharp ads in Oregon claiming Cornilles has overstated the number of jobs created by his consulting business. A coalition of women's groups paid for ads and mailers criticizing the Republican for his pro-life views.

The National Republican Congressional Committee pitched in on a coordinated ad buy with the Cornilles campaign, but nearly all of the outside spending reported in the race came from Democratic groups.

Republican ads say Bonamici lacks experience creating private sector jobs and that she has voted to raise taxes while in the state Senate. One Cornilles ad tries to hurt her image by linking her to Wu, also a Democrat.

(Reporting By Emily Stephenson, additional reporting by Alexander Cohen; Editing by Cynthia Osterman)

Source: http://us.rd.yahoo.com/dailynews/rss/uscongress/*http%3A//news.yahoo.com/s/nm/20120130/ts_nm/us_usa_campaign_oregon

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Why MBA in Finance is Recommended | Foundations of Finance

Accounting and Finance Career Preparation Programs

Completing a degree program in accounting prepares students to step into various careers that involve accounting and finance. Accounting programs are available to students at the associate?s, bachelor?s, master?s, and doctorate?s degree level. Student?s career goals will determine which degree program to complete. Other possible accounting and finance career preparation programs can include:

  • Accounting Technology
  • Corporate Financing
  • Finance and Banking

?

Corporate finance also awards undergraduate degrees unless students advance their training inside a finance degree program.

To gain the best career options in accounting and finance students should complete graduate degree training. Students study risk management, assurance, financial management, taxation, and much more. Master?s degree programs train students to understand business and taxation. Possible career options for students that have a graduate degree include risk assessors, corporate executives, financial managers, and auditors.

Students that complete a bachelor?s degree program will explore financial reporting, international market, and personal investments.

Accredited accounting and finance degree programs give students several career opportunities.

Accounting and Finance Career Preparation Programs

Accounting or financial managers are the people responsible for overseeing and maintaining the financial strategy and history of a company. The accounting manager is focused more on financial reporting, while the financial manager is focused on strategy and money management. The CFO supervises all accounting and financial operations, as well as administering the company?s general financial policies and strategies. The financial officer may formulate and implement strategies to raise capital, oversee cash management, or manage the company?s capital investment activity.

from your own site.

Source: http://www.icasm2009.org/why-mba-in-finance-is-recommended

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Monday, January 30, 2012

China to make Shanghai global yuan hub by 2015 (Reuters)

SHANGHAI (Reuters) ? China intends to establish Shanghai as the global centre for yuan trading, clearing and pricing over the next three years as part of broader plans to make the commercial hub an international financial centre by 2020.

The plan for Shanghai's financial innovations through 2015, published jointly by the country's economic planning agency and the Shanghai government on Monday, set goals on a wide range of areas aimed at further developing Shanghai, though some analysts said many of them appeared ambitious.

"This anticipated pace of development looks a bit quick to me," said Frances Cheung, a strategist at Credit Agricole in Hong Kong.

China wants to transform Shanghai into an international financial centre on par with the likes of New York and London by 2020. That goal was set in 2009 by the State Council and analysts have taken it as a broad deadline for liberalizing the currency.

The state economic planning agency, the National Development and Reform Commission, outlined a series of goals under the 2015 yuan plan.

These included making the daily yuan mid-point published by the central bank in the onshore yuan market serve as the benchmark for both domestic and foreign yuan trading markets.

Currency traders interpreted the statement partly as a message from Beijing that the yuan's movements, which have increasingly been influenced by the offshore market over the past few months, should be decided by the government.

"There have been recent developments that have put Hong Kong's offshore market in the spotlight from time to time, such as its pricing of the yuan quite differently from the onshore market," said a trader at a European bank in Shanghai.

"In this sense, the NDRC statement is published at a sensitive time and means the government once again wants to emphasize that it has the final say in the value of the yuan."

The plan also aims to make the government-backed Shanghai Interbank Offered Rate (Shibor) the benchmark for yuan credit everywhere and targeting to more than double the annual non-forex financial market trading volume to 1,000 trillion yuan by 2015.

While the plan lacked details on how China would achieve these targets, analysts were skeptical on the feasibility of some of the planks in the platform.

"Shibor is not even a very well established benchmark onshore," Cheung said. Markets currently use the government's seven-day repurchase rate as the lending benchmark.

Analysts said the NDRC's plan gave no fresh insight into how quickly China would liberalize its capital account, a crucial step in Shanghai's attempt to become a global money hub.

China has taken a series of measures over the past two years to invigorate the offshore yuan market in Hong Kong as part of a longer-term plan to promote the use of the yuan overseas and make it a fully-convertible and international reserve currency along with the U.S. dollar.

Earlier this month, Britain said it was teaming up with its former colony to secure London a top spot as an offshore trading centre for the yuan.

The NDRC's plan would not threaten Hong Kong's current position as the main offshore yuan centre, analysts said.

"Promoting Shanghai as an onshore yuan centre complements Hong Kong's growing role as an offshore yuan center, and should help to strengthen the circle of onshore-offshore yuan flows underpinning the yuan trade settlement process," said Donna H J Kwok, economist at HSBC in Hong Kong.

China will also encourage overseas companies to sell yuan-denominated shares in its domestic stock markets, but the plan did not give a detailed timetable.

Authorities have been discussing launching a so-called "international board" on the Shanghai stock exchange for listing foreign companies' shares, seen as a centerpiece for the 2020 goal, but the city's mayor said this month that the time was not currently right for its launch.

Shanghai will explore M&A opportunities involving overseas stock exchanges to increase its global clout, the NDRC's plan said without elaborating.

(Additional reporting by Zhou Xin in Beijing, Saikat Chatterjee in Hong Kong and Lu Jianxin in Shanghai; Editing by Jason Subler)

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20120130/bs_nm/us_china_economy_shanghai

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Etta James remembered as triumphant trailblazer

Stevie Wonder performs at the funeral of singer Etta James, Saturday, Jan. 28, 2012, at Greater Bethany Community Church City of Refuge in Gardena, Calif. James died last Friday at age 73 after battling leukemia and other ailments, including dementia. She was most famous for her classic "At Last," but over her decades-long career, she became revered for her passionate singing voice. (AP Photo/Ringo H.W. Chiu)

Stevie Wonder performs at the funeral of singer Etta James, Saturday, Jan. 28, 2012, at Greater Bethany Community Church City of Refuge in Gardena, Calif. James died last Friday at age 73 after battling leukemia and other ailments, including dementia. She was most famous for her classic "At Last," but over her decades-long career, she became revered for her passionate singing voice. (AP Photo/Ringo H.W. Chiu)

Stevie Wonder performs at the funeral of singer Etta James, Saturday, Jan. 28, 2012, at Greater Bethany Community Church City of Refuge in Gardena, Calif. James died last Friday at age 73 after battling leukemia and other ailments, including dementia. She was most famous for her classic "At Last," but over her decades-long career, she became revered for her passionate singing voice. (AP Photo/Ringo H.W. Chiu)

Donto James, son singer Etta James speaks at his mother's funeral, Saturday, Jan. 28, 2012, at Greater Bethany Community Church City of Refuge in Gardena, Calif. James died last Friday at age 73 after battling leukemia and other ailments, including dementia. She was most famous for her classic "At Last," but over her decades-long career, she became revered for her passionate singing voice. (AP Photo/Ringo H.W. Chiu)

Christina Aguilera performs at the funeral of singer Etta James, Saturday, Jan. 28, 2012, at Greater Bethany Community Church City of Refuge in Gardena, Calif. James died last Friday at age 73 after battling leukemia and other ailments, including dementia. She was most famous for her classic "At Last," but over her decades-long career, she became revered for her passionate singing voice. (AP Photo/Ringo H.W. Chiu)

Christina Aguilera performs at the funeral of singer Etta James, Saturday, Jan. 28, 2012, at Greater Bethany Community Church City of Refuge in Gardena, Calif. James died last Friday at age 73 after battling leukemia and other ailments, including dementia. She was most famous for her classic "At Last," but over her decades-long career, she became revered for her passionate singing voice. (AP Photo/Ringo H.W. Chiu)

(AP) ? Rhythm & blues legend Etta James was remembered at a service Saturday attended by hundreds of friends, family and fans as a woman who triumphed against all odds to break down cultural and musical barriers in a style that was unfailingly honest.

The Rev. Al Sharpton, a civil rights activist, eulogized James in a rousing speech, describing her remarkable rise from poverty and pain to become a woman whose music became an enduring anthem for weddings and commercials.

Perhaps most famously, President Barack Obama and the first lady shared their first inaugural ball dance to a version of the song sung by Beyonce, who portrayed James in the film "Cadillac Records." Sharpton on Saturday opened his remarks by reading a statement from the president.

"Etta will be remembered for her legendary voice and her contributions to our nation's musical heritage," Obama's statement read.

The Grammy-winning singer died Jan. 20 after battling leukemia and other ailments, including dementia. She had retreated from public life in recent years, but on Saturday her legacy was on display as mourners of all ages and races converged on the City of Refuge church in Gardena, south of downtown Los Angeles.

Among the stars performing tributes to James were Stevie Wonder and Christina Aguilera, who told the gathering that she has included "At Last" in every concert she's performed as a tribute to her musical inspiration.

Wonder performed three songs, including "Shelter In the Rain" and a harmonica solo. James' rose-draped casket was on display, surrounded by wreaths and floral arrangements and pictures of the singer.

Sharpton, who met James when he was an up-and-coming preacher, credited her with helping break down racial barriers through her music.

"She was able to get us on the same rhythms and humming the same ballads and understanding each other's melodies way before we could even use the same hotels," Sharpton said, referring to the era when racial segregation was the law in many U.S. states.

He said James' fame and influence would have been unthinkable to a woman with James' background ? growing up in a broken home during segregation and at times battling her own demons.

"The genius of Etta James is she flipped the script," Sharpton said, alluding to her struggles with addiction, which she eventually overcame.

"She waited until she turned her pain into power," he said, adding that it turned her story away from being a tragic one into one of triumph.

"You beat 'em Etta," Sharpton said in concluding his eulogy. "At last. At last. At last!"

The assembly roared to their feet, and would again stand to applaud performances by Wonder and Aguilera, who filled the sanctuary with their voices.

"Out of all the singers that I've ever heard, she was the one that cut right to my soul and spoke to me," Aguilera said before her performance.

Throughout the service, a portrait of James as a woman who beat the odds in pursuit of her dreams repeatedly emerged.

"Etta is special to me and for me, because she represents the life, the triumphs, the tribulations of a lot of black women all over this world," said U.S. Rep Maxine Waters, a California Democrat.

"It does not matter who sang 'At Last' before or after Etta. It does not matter when it was sung, or where it was sung. 'At Last' was branded by Etta, the raunchy diva ? that's her signature and we will always remember her."

James won four Grammy Awards, including a lifetime achievement honor, and was inducted into the Rock and Roll Hall of Fame in 1993. In her decades-long career, she became revered for her passionate, soulful singing voice.

She scored her first hit when she was just a teenager with the suggestive "Roll With Me, Henry," which had to be changed to "The Wallflower" in order to get airplay. Her 1967 album, "Tell Mama," became one of the most highly regarded soul albums of all time, a mix of rock and gospel music.

She rebounded from a heroin addiction to see her career surge after performing the national anthem at the 1984 Olympics in Los Angeles. She won her first Grammy Award a decade later, and two more in 2003 and 2004.

James is survived by her husband of 42 years, Artis Mills, and two sons, Donto and Sametto James.

"Mom, I love you," Donto James said during brief remarks. "When I get to the gates, can you please be there for me?"

___

Follow Anthony McCartney at http://twitter.com/mccartneyAP

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2012-01-28-Etta%20James-Funeral/id-1d902050374c4cecb43a8f6b2fda27db

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Sunday, January 29, 2012

Police search News International offices, arrest four (Reuters)

LONDON (Reuters) ? Police said on Saturday they were searching the London offices of Rupert Murdoch's News International and had arrested four people, including a policeman, in an investigation into suspected payments to police officers for information.

The probe is linked to a continuing investigation into phone hacking at the now-closed News of the World tabloid, published by News International, the British arm of Murdoch's News Corp media empire.

Saturday's operation was the result of information passed to police by News Corp's Management and Standards Committee, set up in the wake of the phone hacking scandal, London's Metropolitan Police said.

One of those being questioned on suspicion of corruption was a 29-year-old police officer serving with the Met Police's Territorial Policing Command, who was arrested at the central London police station where he worked.

The others, all arrested at their homes, were a 48-year-old man from north London and two men from Essex, east of the capital, aged 48 and 56.

Searches at News International's offices in Wapping, east London, and at the arrested men's homes, were expected to continue until the afternoon, police said.

The operation takes to 12 the number of arrests in a probe into allegations journalists paid police in return for information, known as Operation Elveden, one of three criminal investigations into the news-gathering practices of the News of the World.

Last week, News International settled a string of legal claims after it admitted that people working for the tabloid had hacked in to the private phones of celebrities and others to generate stories.

The phone hacking scandal drew attention to the level of political influence held by editors and executives at News International, and other newspapers in Britain.

It embarrassed British politicians for their close ties with newspaper executives and also the police, who repeatedly failed to investigate allegations of illegal phone hacking.

News International had no immediate comment on Saturday's police operation, a spokeswoman for the media group said.

(Additional reporting by Michael Holden; Editing by Rosalind Russell)

Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/nm/20120128/wl_nm/us_newscorp_arrests

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Twitter's new censorship rules face opposition (Reuters)

LOS ANGELES (TheWrap.com) ? It was only two weeks ago that Twitter was protesting online censorship in the form of anti-piracy bills SOPA and PIPA. Now the social networking site faces a surge of opposition to its own censorship practices.

Twitter announced in a blog post Thursday that it will now block specific tweets on a country-by-country basis should the messages violate the laws of those countries.

One of the worries is that Twitter has been a powerful tool in the protest movements that have surfaced across the globe in the past year, whether in the Arab Spring or the anti-austerity protests in Europe.

The fear is that the new policy will limit its utility in such instances.

Users have responded by promising to boycott the site on Saturday, and the media has blasted the company for what it views as blatant censorship.

Forbes' writer Mark Gibbs dubbed the move "social suicide" and many others have chimed in to voice their objection.

The boycott of Twitter is being promulgated by the hashtag #TwitterBlackout -- not all that different from the #SOPABlackout tweets from earlier this month. In another case of overlap with the SOPA/PIPA fight, hacking network Anonymous seems to oppose the move. Not known yet is whether it will act.

It's doubtful that enough people will stop using the service to have an impact, nor would a brief Twitter shutdown damage its business. However, the threats are clearly more about sending a message than crippling the now ubiquitous messaging platform.

The site's reasoning for the change was stated in its blog post: "As we continue to grow internationally, we will enter countries that have different ideas about the contours of freedom of expression. Some differ so much from our ideas that we will not be able to exist there."

Observers see this as Twitter caving to the power of oppressive and restrictive foreign governments. They don't want to anger those countries too much, lest they block Twitter.

To some, this is appalling. To others, it's just business.

Either way, Twitter finds itself on the other end of the censorship fight for one of the first times.

Welcome to adulthood, Tweeps.

Source: http://us.rd.yahoo.com/dailynews/rss/enindustry/*http%3A//news.yahoo.com/s/nm/20120128/media_nm/us_twitter_rules

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Saturday, January 28, 2012

Pitt to attend New Orleans homebuilding group gala (AP)

NEW ORLEANS ? Talk show host Ellen Degeneres and "American Idol" judge Randy Jackson are hosting a star-studded gala in New Orleans to benefit Brad Pitt's Make It Right home rebuilding effort.

Pitt will attend the $1,000-per-person gala on March 10 called "A Night to Make It Right," which will include performances by singers Sheryl Crow, Rihanna, Seal and Dr. John, said foundation spokeswoman Taylor Royle.

Pitt launched Make It Right in 2007 to help Lower 9th Ward residents who lost their homes during Hurricane Katrina in 2005. The Lower 9th Ward was one of the hardest-hit neighborhoods when Katrina caused levees to fail, inundating roughly 80 percent of the city with floodwater.

Pitt worked with architects to come up with designs for stronger, safer and more energy-efficient houses than the ones residents lost. So far 75 homes have been built, six more are under construction and construction is set to begin on roughly eight others in coming months.

"Our goal is 150 houses, and this fundraiser is going to help us reach that goal," said Royle, noting that all proceeds will benefit Make It Right.

Royle said it has taken more time and money than the foundation originally thought to build 150 homes. Getting in touch with families, making decisions about their homes, getting finances in order and clearing paperwork takes months, she said.

"It's been a long road to get these families home," Royle said. "But we're happy with our progress, and we're looking forward to celebrating the progress we've made."

Royle said a video of Make It Right's work over the past four years will be presented at the gala. A four-course dinner organized by chef John Besh will include courses by chefs Emeril Lagasse and Giada de Laurentiis.

Degeneres, a New Orleans native, has already donated more than $2 million to Make It Right.

"She's been one of our biggest supporters," Royle said.

Jackson, a Baton Rouge native, was quick to offer his participation in the event, Royle said.

Other celebrities serving on the event's host committee who may also be attending include actors Josh Brolin, Sean Penn and Kevin Spacey and director Spike Lee.

The gala will be held at the Hyatt Regency Hotel in New Orleans. Comedian Aziz Ansari will host an after party. Tickets for that event start at $150.

___

Online:

Tickets are available online at www.nighttomakeitright.com.

Source: http://us.rd.yahoo.com/dailynews/rss/celebrity/*http%3A//news.yahoo.com/s/ap/20120126/ap_on_en_mo/us_make_it_right_gala

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Original Religion Of The People's Of Africa

BenHur's Avatar

Respected Member

Join Date: Mar 2011

Posts: 153

? Re: Original Religion Of The People's Of Africa

I know that parts of East and North Africa such us Abyssinia , Egypt and Libya had a very huge portion of Judaism followers. Infact I read somewhere that the Ethiopian Abysinians followed Judaism for 1000 years before the birth of Christ. It was introduced to them by their Queen of Sheba who ,according to the bible visted king Solomon . I am not sure about the remote areas of africa..As they had little contact with the outside world, they mostly were pagans..

Source: http://www.thestudentroom.co.uk/showthread.php?t=1906207&goto=newpost

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Thursday, January 26, 2012

Obama Calls for 'Fairness' in His Address to a 'Stronger' Union (Time.com)

Couching his argument in terms of fairness, President Obama proposed a range of policy initiatives Tuesday night in his State of the Union address, asking Congress to shift a heavier tax burden onto the very wealthiest earners, subsidize domestic manufacturers and energy producers, and crackdown on corporations and political interests that have exploited the nation in its dark economic hour.

"We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by," he said. "Or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules. What's at stake are not Democratic values or Republican values, but American values. We have to reclaim them." (See more on Obama and changes in America.)

Obama called for those making a gross income of more $1 million a year to pay a minimum rate of 30%, enumerating a policy principle for the so-called "Buffett rule," which was named for the billionaire Omaha investor who famously complained that he pays a lower rate than his secretary. The proposal, which has a slim chance of making it through a divided Congress, would predominantly affect those who currently pay a 15% rate on investment earnings, and would also deny mega-earners any targeted tax breaks or credits.

"You can call this class warfare all you want," he said, directly addressing Republican critics. "But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense."

In addition to once again proposing alternative energy tax credits, Obama put a renewed focus on natural gas and domestic manufacturing. He proposed subsidies for manufacturers willing to open plants in hard-hit communities, as well as a new tax on overseas profits. He worked in paeans to immigrations reform, a new housing refinancing program to be funded by a fee on large banks, and restrictions on congressional lobbying and trading. As with other policy initiatives put before a joint session of Congress in the last two years, these proposals will likely have more life in Executive Branch whitepapers than in committee rooms on Capitol Hill. (See more on Obama's State of the Union Address.)

Not everything Obama spoke about required congressional action. In a potential effort to sew up liberal dissent on a looming mortgage fraud settlement between state attorneys general, the federal government and the banks, Obama announced the creation of new law enforcement unit tasked with investigating securitization fraud, headed by New York AG Eric Schnereiderman, who broke from the settlement talks last year over a disagreement about potential immunity for banks in that matter. If the commission seemed like a political gesture, it was one of many in the speech.

Though never mentioned explicitly, signs of Obama's looming re-election campaign were everywhere. He directly addressed the claims of Republican front runner Mitt Romney, a big investment earner who could see his tax rate doubled by the Buffett rule, that "envy" drives the President's tax policies. "We don't begrudge financial success in this country. We admire it," Obama said. "When Americans talk about folks like me paying my fair share of taxes, it's not because they envy the rich. It's because they understand that when I get tax breaks I don't need and the country can't afford, it either adds to the deficit, or somebody else has to make up the difference -- like a senior on a fixed income; or a student trying to get through school; or a family trying to make ends meet. That's not right."

The plights or triumphs of swing states were ubiquitous, and Obama pledged to rejuvenate industry in "Cleveland (Ohio, 18 electoral votes) and Pittsburgh (Pennsylvania, 20 electoral votes) and Raleigh (North Carolina, 15 electoral votes)." Orlando, Louisville, Charlotte, Toledo and Chicago all got mentions too, but none as many as Detroit. His decision to bailout auto companies was implicitly celebrated in a long section of the speech dedicated to their subsequent rejuvenation. "We bet on American workers. We bet on American ingenuity," he said. "And tonight, the American auto industry is back."

The speech was also bookended by a narrative on the power of cooperation evident in the U.S. military. In Obama's telling, this collaborative spirit, a model for the nation, led to the killing of Osama bin Laden, which just happens to be his crowning foreign policy achievement. Romney, who has accused Obama of being an apologist overseas and declinist at home, was again the ghost in the room when Obama said, "Anyone who tells you America is in decline or our influence has waned doesn't know what they are talking about."

It was moments like this that underscored the tension in the President's argument. Obama was making an aggressive case for the merits of his first term, while trying to stoke a sense of urgency about his second. The nation was neither in disrepair nor perfect mint. And that view was reflected in Obama's tweaking of the State of the Union's most famous line: "The state of our Union is getting stronger," he said. "And we've come too far to turn back now."

See TIME's 2011 Person of the Year: The Protester.

See TIME's Top 10 Everything of 2011.

View this article on Time.com

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Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/time/20120125/us_time/08599210530100

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Senate reformer McCaskill in the running for "Porker of the Year" (Washington Bureau)

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Wednesday, January 25, 2012

Fictional finance on the rise | Abnormal Returns

  • abnormalreturns
  • January 23rd, 2012

What if anything should we make of the surge of finance in fictional forms?? Clearly the financial crisis and its aftermath has made finance a more interesting topic for writers.? One could even argue in a contrarian fashion that when finance is worthy of a fictional treatment the market is set for a turn.? (See the short-lived nature of the TNT-show, Bull, launched and cancelled in 2000 in the aftermath of the Internet bubble.)

The movie Margin Call Fictional finance on the rise has received a great deal of praise both from within the world of finance and the critical establishment as well.? See our earlier post with a move review roundup. Over the week two of our favorite bloggers, The Epicurean Dealmaker and Barry Ritholtz both watched the film and were favorably impressed.? (Although I don?t think they watched it together.) Barry thought it was a ?great film? and TED writes:

For let me first say that I recommend the movie unreservedly, not only to professionals within the investment banking industry but also to outsiders still in possession of their moral compass. The lighting, cinematography, casting, and dialogue is, for the most part, pitch perfect, and the movie conveys exceptionally well the mood and atmosphere of the sales and trading end of a big investment bank.

Now it sounds like another movie, Arbitrage starring Richard Gere as a desperate hedge fund manger is set to emerge from the Sundance Film Festival as well.? In addition two new books are also set in the world of finance as well.? Felix Salmon recently reviewed the forthcoming novel The Fear Index Fictional finance on the rise by best-selling author Robert Harris.? Salmon writes:

I tend to find fictionalizations of high finance disappointing?Robert Harris?s?The Fear Index, however, is very different. For one thing, it?s not boring: it doesn?t allow financial exegesis to slow it down, and it?s as addictive as any thriller written. Pick this up on an airplane, and you won?t want to land. On top of that, it?s well written, to boot.

In other cases writers may simply be reflecting the world in which they live.? Erin Duffy, author of Bond Girl: A Novel Fictional finance on the rise, worked in fixed income sales before writing her debut novel.? Sara Vilkomerson at Entertainment Weekly writes:

Bond Girl?is a sparkling debut, smart and snappy but never weighed down by financial terminology. Who knew Wall Street could be this much fun?

The one common denominator among these works is that market volatility helps drive the plot.? In a world where the fate of countries hinges on the collective judgements of markets maybe finance really is a world worthy of more fictional depictions.

This is obviously not a comprehensive list of recent finance fiction.? Have we missed any recent works of fiction that are set in the world of finance?? If so, please feel free to leave a comment below.

Items mentioned:

Margin Call review round-up.? (Abnormal Returns)

Fat Cats and Starving Dogs; Happy Foxes and Sad Sacks (Big Picture)

A Certain Moral Flexibility.? (The Epicurean Dealmaker)

Is Arbitrage this year?s Margin Call?? (LA Times)

Q&A for Arbitrage.? (Sundance)

The Fear Index.? (Felix Salmon)

Bond Girl:? review.? (Entertainment Weekly)

Abnormal Returns is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. If you click on my Amazon.com links and buy anything, even something other than the product advertised, I earn a small commission, yet you don't pay any extra. Thank you for your support.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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Tuesday, January 24, 2012

Khloe & Lamar Season 2 Preview: Welcome to Dallas!


The E! reality show circus is about to mess with Texas.

A couple months after Lamar Odom successfully lobbied for a trade, season two of Khloe & Lamar will premiere with a focus on the big move, as the couple heads from Los Angeles to Dallas, bringing Robert Kardashian along for some reason.

Will they find a new house in the area? How is Odom akin to a box of chocolate? What what hilarious show returns following this February 19 premiere? Watch the following promo for these answers and more!

Source: http://www.thehollywoodgossip.com/2012/01/khloe-and-lamar-season-2-preview-welcome-to-dallas/

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Scrambled GOP race heads to Florida (AP)

TAMPA, Fla. ? A suddenly scrambled Republican presidential contest now shifts to Florida, a day after Newt Gingrich stopped Mitt Romney's sprint to the GOP nomination by scoring a convincing victory in South Carolina.

The air of inevitability that surrounded Romney's candidacy just days ago is gone, at least for now. And his rivals, led by Gingrich, have 10 days before Florida's Jan. 31 contest to prove South Carolina was no fluke.

Florida, being much larger, more diverse, and more expensive, brings new challenges to Gingrich, who again must overcome financial and organizational disadvantages as he did Saturday.

"We don't have the kind of money at least one of the candidates has. But we do have ideas. And we do have people," Gingrich, the former House speaker, told cheering supporters Saturday night. "And we proved here in South Carolina that people power with the right ideas beats big money. And with your help, we're going to prove it again in Florida."

Romney struck a defiant tone before his own backers gathered at the South Carolina State Fairgrounds, saying: "I will compete in every single state." And wasted no time jabbing at Gingrich, saying: "Our party can't be led to victory by someone who also has never run a business and never led a state."

Former Pennsylvania Sen. Rick Santorum, having finished third in South Carolina, vowed to compete in Florida and beyond. His presence in the race ensures at least some division among Florida's tea party activists and evangelicals, a division that could ultimately help Romney help erase any questions about his candidacy by scoring a victory of his own a week from Tuesday.

Texas Rep. Ron Paul likely will not be a factor in Florida, having declared that he's bypassing the expensive state in favor of smaller subsequent contests.

As the first Southern primary, South Carolina has been a proving ground for Republican presidential hopefuls in recent years. Since Ronald Reagan in 1980, every Republican contender who won the primary has gone on to capture the party's nomination.

Returns from 95 percent of the state's precincts showed Gingrich with 41 percent of the vote to 27 percent for Romney. Santorum was winning 17 percent, Paul 13 percent.

But political momentum was the real prize with the race to pick an opponent to President Barack Obama still in its early stages.

Already, Romney and a group that supports him were on the air in Florida with a significant television ad campaign, more than $7 million combined to date.

Gingrich readily conceded that he trails in money, and even before appearing for his victory speech he tweeted supporters thanking them and appealing for a flood of donations for the Jan 31 primary. "Help me deliver the knockout punch in Florida. Join our Moneybomb and donate now," said his Internet message.

Aides to Romney, the former Massachusetts governor, had once dared hope that Florida would seal his nomination ? if South Carolina didn't first ? but that strategy appeared to vanish along with the once-formidable lead he held in pre-primary polls.

Romney swept into South Carolina 11 days ago as the favorite after being pronounced the winner of the lead-off Iowa caucuses, then cruising to victory in New Hampshire's first-in-the-nation primary.

But in the sometimes-surreal week that followed, he was stripped of his Iowa triumph ? GOP officials there now say Santorum narrowly won ? while former Utah Gov. Jon Huntsman dropped out and endorsed Romney and Texas Gov. Rick Perry quit and backed Gingrich.

Romney responded awkwardly to questions about releasing his income tax returns, and about his investments in the Cayman Islands. Gingrich, the former speaker of the House, benefited from two well-received debate performances while grappling with allegations by an ex-wife that he had once asked her for an open marriage so he could keep his mistress.

By primary eve, Romney was speculating openly about a lengthy battle for the nomination rather than the quick knockout that had seemed within his grasp only days earlier.

Source: http://us.rd.yahoo.com/dailynews/rss/gop/*http%3A//news.yahoo.com/s/ap/20120122/ap_on_el_pr/us_gop_campaign

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Monday, January 23, 2012

Klum and Seal: 'We have decided to separate'

Dan Steinberg / AP

Heidi Klum and Seal confirmed Sunday that they are separating.

By Anna Chan

It's official: Supermodel and "Project Runway" host Heidi Klum and singer Seal are officially separating after seven years together.

TMZ first reported on Saturday that Klum was going to file for divorce as early as this week. On Sunday night, the pair confirmed the split in a statement to People.

"While we have enjoyed seven very loving, loyal and happy years of marriage, after much soul-searching we have decided to separate," the?pair told the magazine.?

"We have had the deepest respect for one another throughout our relationship and continue to love each other very much, but we have grown apart. This is an amicable process and protecting the well-being of our children remains our top priority, especially during this time of transition."

Klum and Seal have three biological children together, and the singer adopted the model's eldest daughter, Leni, from a previous relationship.

"They've had a very rough road lately," a friend of the couple told Us Weekly on Saturday.?"They're either madly in love or having? crazy fights."

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Source: http://todayentertainment.today.msnbc.msn.com/_news/2012/01/23/10213217-heidi-klum-and-seal-we-have-decided-to-separate

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Romney's Bain Problem (Taegan Goddard's Political Wire)

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Sunday, January 22, 2012

Google results fall short, rare miss hurts shares (Reuters)

SAN FRANCISCO (Reuters) ? Google Inc's quarterly results fell short of Wall Street's heightened expectations for the holiday season as declining search advertising rates contributed to a rare miss, triggering a 9 percent slide in its shares.

The No. 1 Internet search engine underperformed on both revenue and earnings in the fourth quarter, disappointing investors who had counted on record U.S. online-commerce to prop up results.

Several analysts zeroed in on an 8 percent drop in cost-per-click, or money paid by marketers to the company for search ads, versus analyst estimates of a slight increase.

"The major question is: Is this a one-time thing or is this something that is going to continue because the nature of the business has changed," said Mayuresh Masurekar, an analyst at Colins Stewart.

Google executives reeled off a number of figures during the conference call that highlighted the company's progress in newer businesses such as display advertising, mobile and social networking.

But the good news did not offset concerns about Google's first year-on-year decline in its CPCs in more than two years, leading to nearly a half-dozen questions from analysts during the call and a terse one-liner from Chief Executive Larry Page who at one point requested that "maybe we can get our next question not about CPCs."

Google executives said the decline in search ad rates was primarily due to the impact of foreign currency exchange fluctuations and changes to the company's advertising formats.

The new ad formats drove a sharp increase in the total number of clicks by websurfers on Google's search ads - up 34 percent year-on-year - even though some of the format changes impacted prices negatively, Google executives explained.

But many analysts wondered whether Google's mobile advertising, which is generally believed to command lower ad rates, played a bigger part in the CPC decline than Google let on.

"This was the first time we've seen a decline in CPC rates since 2009," said Needham & Co analyst Kerry Rice. "It's been a long time and the one thing that's really changed about this is mobile."

Google's shares dived to about $583 in after-hours trade, from the Nasdaq close of $639.57 before the results.

Dave Rolfe, manager of RiverPark-Wedgewood Fund which counts Google as one of its largest holdings, said the stock decline was an "egregious overreaction" by Wall Street and that the declining ad rates did not shake his confidence in the company.

"The company tried to clarify it as best as they could, but it's Google and they're not going to give you every little nuance of it," he said.

"Google is famous for making improvements for their end-users that have short term negative results," he said.

SOCIAL ENGAGEMENT

Google is increasingly investing in mobile and social networking initiatives as it positions its business for new technology trends and squares off against rivals Apple and Facebook.

Google's business providing graphical display ads is generating revenue at a $5 billion annualized run rate, Page said during the call. That's up from the $2.5 billion run rate in October 2010, the last time Google provided a peek at the display business's financial performance.

Google+, the company's recently-launched social network, now has more than 90 million users, compared to 40 million users three months ago.

Perhaps more importantly, Google for the first time provided details about how often people actually use Google+.

According to the company, 60 percent of Google+ members use the service every day, and 80 percent use it every week.

That "engagement" on the social network, which Google hopes can eventually take on Facebook, is key to determining future revenue potential.

"Google+ investments are showing some results. They are investing in future revenue growth," said Global Equities Research analyst Trip Chowdhry.

Operating expenses increased to 32 percent of revenue during the fourth quarter, from 30 percent of revenue in the year-ago quarter.

Google said on Thursday it earned $2.71 billion, or $8.22 per share, in the fourth quarter, compared with $2.54 billion, or $7.81 per share, a year earlier.

Excluding certain items, Google earned $9.50 per share, lagging estimates for $10.49 a share.

Page, who took over as CEO in April, said the company was making tough choices about where to focus its efforts, pulling the plug on less successful products so that Google can "double down on the really big bets we have made."

Wall Street is still uneasy about one of Google's biggest bets: its planned $12.5 billion acquisition of smartphone maker Motorola Mobility Holdings. Investors are worried that Google is entering a lower-margin business in which it has no experience, and that the deal might alienate partners that license Google's Android mobile software.

In response to a question on the subject, Page said that he expected Google's relationships with its partners to remain strong once the deal closed, and reiterated that Motorola would be run as a separate company.

Google executives said more than 250 million devices powered by Android, Google's freely distributed smartphone operating system, had been activated since its inception.

"Android is quite simply mind boggling," said Page.

Google's net revenue, which excludes fees shared with partner websites, was $8.13 billion in the fourth quarter, versus $6.37 billion a year earlier. Analysts polled by Thomson Reuters I/B/E/S were looking for $8.4 billion.

That shortfall marks an unusual slip-up for a company that has exceeded Wall Street's revenue targets for eight consecutive quarters.

(Reporting by Alexei Oreskovic in San Francisco; Editing by Phil Berlowitz, Edwin Chan and Steve Orlofsky)

Source: http://us.rd.yahoo.com/dailynews/rss/tech/*http%3A//news.yahoo.com/s/nm/20120120/wr_nm/us_google

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Saturday, January 21, 2012

Just Show Me: How to watch Hulu+ on your Xbox 360 (Yahoo! News)

Welcome to?Just Show Me on?Tecca TV, where we show you tips and tricks for getting the most out of the?gadgets in your life. In today's episode we'll show you how to watch?Hulu+ on your?Xbox 360.

By following along in our video and installing the Hulu+ app, you'll be able to enjoy streaming TV and movies right on your Xbox. It's a great way to sit back and enjoy quality entertainment in your very own home theater.

Take a look at these other episodes of Just Show Me that'll help you use your Xbox 360 to its full potential:

For even more episodes of Just Show Me,?subscribe to Tecca TV's YouTube channel and?check out all our Just Show Me episodes. If you have any topics you'd like to see us cover, just drop us a line in the comments.

This article originally appeared on Tecca

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Source: http://us.rd.yahoo.com/dailynews/rss/techblog/*http%3A//news.yahoo.com/s/yblog_technews/20120120/tc_yblog_technews/just-show-me-how-to-watch-hulu-on-your-xbox-360

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U.S. could hit debt ceiling again around election (reuters)

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Friday, January 20, 2012

South Africa wins rain-affected ODI, takes series

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South Africa wins rain-affected ODI, takes series ??



?????Wednesday 18th January, 2012??Source: eTaiwan News ??
South Africa sneaked a four-run win over Sri Lanka on the Duckworth/Lewis method in a rain-affected third one-day international on Tuesday to clinch the five-match series 3-0.South Africa was 179-5 after 34 overs chasing Sri Lanka's 266-9 when rain came down at Chevrolet Park.Umpires called the game off about an hour and 20 minutes later, handing S...

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Wednesday 18th January, 2012


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Thursday, January 19, 2012

Coastguard raged at liner captain, tape shows (Reuters)

ROME (Reuters) ? The Italian coast guard angrily ordered the captain of the capsized Italian cruise ship to go back aboard to oversee the evacuation, but he stalled, according to an apparent recording of their radio exchange played on national television.

Captain Francesco Schettino is in jail, accused of multiple manslaughter, causing a shipwreck and abandoning ship. He denies all wrongdoing and was questioned by magistrates on Tuesday.

The audio recording, on newspaper Corriere della Sera's website and played on national state television, reflected the chaos and confusion in the minutes after the Costa Concordia, carrying more than 4,000 passengers and crew, hit a rock off the Tuscany coast on Friday night and keeled over.

Schettino, who had already taken to a lifeboat, can be heard talking to a coast guard official based in the western Italian port of Livorno.

Eleven people have been confirmed killed and 24 are still missing.

A Coast Guard official on Giglio, the island where the ship hit a rock, said he could not confirm the authenticity of the tape and said the Coast Guard did not give it to the newspaper. There was no comment available from the captain's lawyer.

The recording is full of background noises such as radio static, beeps and background noise of people and confusion. As translated by Reuters, the entire conversation went as follows:

Coast Guard: Hello.

Captain: Good evening, chief.

Coast Guard: Listen, this is De Falco from Livorno. Am I speaking with the captain?

Captain: Good evening, Chief De Falco.

Coast Guard: Tell me your name, please.

Captain: I am Captain Schettino, chief.

Coast Guard: Schettino?

Captain: Yes.

Coast Guard: Listen, Schettino. There are people trapped on board. Now, you go with your lifeboat. Under the bow of the ship, on the right side, there is a ladder. You climb on that ladder and go on board the ship. Go on board the ship and get back to me and tell me how many people are there. Is that clear. I am recording this conversation, Captain Schettino.

(Captain tries to speak but Coast Guard can't hear him clearly. Voices in the Coast Guard room.)

Coast Guard: Speak up! (captain tries to speak) Captain, put your hand over the microphone and speak in a louder voice!

Captain: At this moment the ship is listing.

Coast Guard: There are people who are coming down the ladder on the bow. Go back in the opposite direction, get back on the ship, and tell me how many people there are and what they have on board. Tell me if there are children, women and what type of help they need. And you tell me the number of each of these categories. Is that clear?

Listen Schettino, perhaps you have saved yourself from the sea but I will make you look very bad. I will make you pay for this. Dammit, go back on board!

(Noise can be heard in the background. Apparently other Coast Guard officers are shouting to each other in the same room about "the ship, the ship")

Captain: Please ...

Coast Guard: There is no 'please' about it. Get back on board. Assure me you are going back on board!

Captain: I'm in a lifeboat, I am under here. I am not going anywhere. I am here.

Coast Guard: What are you doing, captain?

Captain: I am here to coordinate the rescue...

Coast Guard (interrupting): What are you coordinating there! Get on board! Coordinate the rescue from on board! Are you refusing?

Captain: No, I am not refusing.

Coast Guard: Are you refusing to go aboard, captain? Tell me the reason why you are not going back on board.

Captain: (inaudible)... there is a another lifeboat...

Coast Guard (interrupting, yelling): You get back on board! That is an order! There is nothing else for you to consider. You have sounded the "Abandon Ship." Now I am giving the orders. Get back on board. Is that clear? Don't you hear me?

Captain: I am going aboard.

Coast Guard: Go! Call me immediately when you are on board. My rescue people are in front of the bow.

Captain: Where is your rescue craft?

Coast Guard: My rescue craft is at the bow. Go! There are already bodies, Schettino. Go!

Captain: How many bodies are there?

Coast Guard: I don't know! ... Christ, you should be the one telling me that!

Captain: Do you realize that it is dark and we can't see anything?

Coast Guard: So, what do you want to do, to go home, Schettino?! It's dark and you want to go home? Go to the bow of the ship where the ladder is and tell me what needs to be done, how many people there are, and what they need! Now!

Captain: My second in command is here with me.

Coast Guard: Then both of you go! Both of you! What is the name of your second in command?

Captain: His name is Dmitri (static)"

Coast Guard: What is the rest of his name? (static) You and your second in command get on board now! Is that clear?

Captain: Look, chief, I want to go aboard but the other lifeboat here has stopped and is drifting. I have called ...

Coast Guard (interrupting): You have been telling me this for an hour! Now, go aboard! Get on board, and tell me immediately how many people there are!

Captain: OK, chief.

Coast Guard: Go! Immediately!

(Reporting By Philip Pullella; Editing by Peter Graff)

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/nm/20120117/wl_nm/us_italy_ship_tape

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A look inside iPhone and iPad case maker OtterBox

Giveaway: Watch the video then leave a comment letting us know which of the Otterbox cases you’d love to win! Last month, I had the pleasure of visiting the OtterBox


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Wednesday, January 18, 2012

Silent film "The Artist" leads BAFTA nominations (Reuters)

LONDON (Reuters) ? Silent movie "The Artist" made itself heard on the awards circuit on Tuesday, leading the field with 12 BAFTA nominations.

The French black-and-white comedy, a homage to the "pre-talkie" era set in 1920s and 1930s Hollywood, was shortlisted for best film, actor, actress, director and original screenplay by the British Academy of Film and Television Arts.

It maintains its momentum a week before the Oscar nominations are announced and after last weekend's triumph at the Golden Globes when it scooped three prizes.

The BAFTA record for predicting Academy Awards is patchy, but they are Britain's top film honors and the most closely watched outside the United States.

The Artist, about a silent era movie star whose career collapses with the advent of sound, was one ahead of Cold War-era spy movie "Tinker Tailor Soldier Spy" which garnered 11 nominations.

The adaptation of John Le Carre's classic espionage thriller was up for best film, director, adapted screenplay and actor.

"Hugo," Martin Scorsese's family adventure, scored nine followed by "My Week With Marilyn" with six, and five nominations each for "The Help" and "War Horse."

STREEP EYES THE PRIZE

As expected, Meryl Streep made it on to the shortlist for best actress for her portrayal of former British Prime Minister Margaret Thatcher in "The Iron Lady." She is heavily favored to land an Academy Award for the performance.

Streep is up against Berenice Bejo (The Artist), Michelle Williams (My Week with Marilyn), Tilda Swinton (We Need to Talk About Kevin) and Viola Davis (The Help).

The best actor category is made up of Brad Pitt (Moneyball), Gary Oldman (Tinker Tailor Soldier Spy), George Clooney (The Descendants), Jean Dujardin (The Artist) and Michael Fassbender (Shame).

The best picture award will either go to The Artist, The Descendants, Drive, The Help or Tinker Tailor Soldier Spy.

"Harry Potter and the Deathly Hallows - Part 2," the last of eight installments in the record-breaking boy wizard franchise, garnered four nominations -- make up & hair, production design, sound and special visual effects.

The movies' supporters have complained that the hugely successful adventures are overlooked in major award categories, and Tuesday's announcement was unlikely to appease them.

The BAFTA awards, sponsored by Orange, will be handed out on February 12 at London's Royal Opera House.

Scorsese will receive a BAFTA Fellowship celebrating his life in cinema, and is also nominated as best director for Hugo and for his documentary "George Harrison: Living in the Material World."

(Reporting by Mike Collett-White, editing by Paul Casciato)

Source: http://us.rd.yahoo.com/dailynews/rss/movies/*http%3A//news.yahoo.com/s/nm/20120117/film_nm/us_baftas_nominations

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