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Market Basket’s Web PR

Written By Unknown on Sabtu, 09 November 2013 | 20.25

The embattled board of the Market Basket supermarket chain has launched a public relations offensive by taking its message directly to the public.

A new website, dsmboardinfo.com, is intended to provide factual information from the board about the Tewksbury company's corporate governance, according to a board spokeswoman.

But it's come under fire from employees already critical of the board's rule, including attempts to fire Market Basket's CEO, approval of a $300 million shareholder payout and its decision to halt construction of three new stores. Each of those issues is addressed under a "frequently asked questions" page.

"The new Market Basket board website is a carefully crafted set of half-truths and propaganda developed by a high-priced New York PR firm and designed to allay people's fears by claiming nothing has changed, while at board meetings they are marching toward significant changes in ... taking on debt, changing leadership and stopping construction, to name but a few areas," Joe Rockwell, a Market Basket vice president, said in a statement.

"The board has no credibility with the company's associates, vendors and customers."

The site states the board has no current plans to change employee compensation and benefits, and voted to make a contribution to their profit-sharing plan at a "level consistent with what it has been for the past several years."

But employees are parsing each sentence.

"'Consistent with,'" said Cindy Whelan, manager at the Epping, N.H., store. "They're creating a gray area is what they're doing. We 'currently' have no plans. That could change tomorrow."


20.25 | 0 komentar | Read More

New rule demands parity for mental health coverage

WASHINGTON — It's final: Health insurance companies must cover mental illness and substance abuse just as they cover physical diseases.

The Obama administration issued new regulations Friday that spell out how a 5-year-old mental health parity law will be administered.

Health and Human Services Secretary Kathleen Sebelius said the rule should put an end to discrimination faced by some mental health patients through higher out-of-pocket costs or stricter limits on hospital stays or visits to the doctor.

The law, signed by President George W. Bush, was designed to prevent that. But mental health advocates said health insurers at times sidestepped lawmakers' intentions by delaying requests for care and putting in place other bureaucratic hurdles. They described the new Obama administration rule as necessary to ensure patients get benefits they are entitled to receive.

The administration had pledged to issue a final mental health parity rule as part of an effort to reduce gun violence. Officials said they have now completed or made significant progress on 23 executive actions that were part of a plan announced in response to the school massacre in Newtown, Conn., last December.

The 2008 mental health parity law affects large group plans. It does not require they offer mental health coverage, but if they do, that coverage must be equal to what is provided for patients with physical illnesses. Meanwhile, the Affordable Care Act extends the parity protections for those participating in individual and small group health insurance plans.

"For way too long, the health care system has openly discriminated against Americans with behavioral health problems," Sebelius said in a telephone conference call with reporters. "We are finally closing these gaps in coverage."

Sebelius said that access to mental health coverage had already been improving since passage of the 2008 mental health parity law. She noted that larger employer health insurance plans have eliminated higher cost-sharing for inpatient mental health care and said most plans have done the same for outpatient care.

HHS officials said mental health services generally amount to only about 5 percent of a large group insurance plan's spending, so there should be limited impact on premiums. They said the small group and individual plans being made available through health insurance exchanges already reflect the parity requirements.

Health insurers said the final rule doesn't really change the landscape they've been operating in since interim rules were released in 2010. Karen Ignagni, president and CEO of American's Health Insurance Plans, said health plans have long supported the legislation and have worked to implement its requirements in an affordable and effective way for patients.

The group said it doesn't have cost estimates for compliance with the regulation.

The National Alliance on Mental Illness called the parity regulations the crowning achievement of a 20-year campaign, but also said that the regulations don't cover managed care plans through Medicaid or the State Children's Health Insurance Program, excluding about 15 percent of Americans covered by health insurance.

"Some of our most vulnerable people are still being left behind," said Michael Fitzpatrick, the group's executive director.

Gil Kerlikowske, director of the National Drug Control Policy Office at the White House, said the rule builds on the need to treat drug problems as a public health issue and not just as a criminal justice issue. He said about 23 million Americans have a substance abuse disorder, but only about 1 in 10 gets the treatment they need.

"Access to drug treatment shouldn't be a privilege to a few who can afford it. It should be provided to everyone who needs it," Kerlikowske said.

Lawmakers instrumental in passing the health parity law had grown impatient with how long it was taking to fully implement it.

"While I am clearly frustrated that this wasn't done sooner, I understand that they had a lot of other things on their plate," said former Rep. Patrick Kennedy, D-R.I., adding that it would be ungrateful not to take into account progress made on other fronts through the health care overhaul.

Kennedy went public about his own struggle with addiction after crashing his car into a barricade near the Capitol in 2006; he was diagnosed with bipolar disorder after winning election to Congress in 1994.

"Ending insurance discrimination against pre-existing conditions is the single biggest mental health bill we could get," Kennedy said.

___

Associated Press writer Josh Lederman contributed to this report.


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South Boston stunner provides scenic style

The contemporary-styled Macallen building in South Boston was built in 2007, but its two penthouses were not built out until this year and a spacious single-story unit is still available.

Penthouse B, a three-
bedroom condo atop the 140-unit building, has a showpiece living/dining area whose roof is a retractable skylight, and a master bedroom with floor-to-ceiling windows and great Boston views. The 3,195-square-foot unit, which comes with two parking spaces in the building's garage, is on the market for $2,875,000.

The staged unit is one of two on the 14th floor, with access restricted by Macallen's 24/7 concierge operating out of a stylish black and beige stone lobby.

You enter the unit into a gray porcelain tile foyer that opens into the condo's signature space, a nearly 40-foot-long open dining/living area with a soaring retractable glass roof. This space has white oak floors, an inset for a flat-screen TV and a gray Silestone-topped bar that opens into an adjacent kitchen.

The long narrow kitchen has gray Silestone floors and large picture windows that bring in lots of light, although the views from here are of the T train yards and industrial areas of Southie. But the finishes are top-end with gray Silestone counters, 14 white Thermofoil cabinets (including five large pantry-sized), and two sinks. Appliances are stainless steel, with a professional grade 6-burner gas stove and oven with an enormous hood. There are two Sub Zero refrigerators and two Thermador dishwashers and even a wine cooler. At the far end, a separate dining area also has large picture windows.

Behind the far end of the living/dining area is a large master bedroom suite with white oak floors and recessed lighting. It features a good-sized bedroom with floor-to-ceiling windows and built-in seats with views past MBTA train yards to the South End and Back Bay, as well as a side window offering views of the Financial District. There are separate home office and dressing rooms in the suite.

The master bathroom has various shades of light porcelain tile and includes a large soaking tub, a walk-in shower and a Silestone vanity with two sinks. One odd note is a pocket door opening from the vanity top into the bedroom.

The unit's two guest bedrooms are off the entry foyer. Both are good-sized and get lots of light from picture windows, but the views are mainly of industrial areas. Both have en-suite bathrooms in muted white tones, with porcelain-like tile floors and Silestone or Caesarstone-topped vanities with white Porcher vessel sinks. One bath has a porcelain-tiled walk-in shower, the other a tub with a rainhead shower.

Also off the foyer is a closet with a washer/dryer hookup.

White oak stairs lead up to a large private deck on the 15th floor, with gray pavers and glass balustrades, that overlooks residential South Boston.

The $2,100-per-month condo fee includes heating, cooling, hot water and access to the building's heated pool, fitness room, screening room and resident's lounge.

Broker: Beth Dickerson of Gibson Sotheby's at 617-510-8565


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Eastie casino foes: Fold Suffok's hand

East Boston casino opponents yesterday called on their elected officials and the state Gaming Commission to reject Suffolk Downs' last-ditch effort to shift its proposed casino to Revere, but a gaming expert said the matter ultimately may be decided by the courts.

"Whether you can do this at the last minute is an interesting question," said Boston College professor Richard McGowan. "I have the feeling the courts are going to be the ones who eventually decide this, and it's going to be interesting to see whether people in East Boston have any standing as a surrounding community."

After Suffolk Downs' casino plan was voted down by East Boston and approved in Revere on Tuesday, the racetrack said it was looking at shifting the casino site to its land in Revere — an idea that has outraged opponents.

"Fifty-six percent of the voting constituency in East Boston voted no. To have that disregarded is something we take huge exception to," said Celeste Myers, co-chairman of No Eastie Casino. "How is this a fair process if you move the target after the fact? As far as we're concerned, it's game over."

Suffolk Downs Chief Operating Officer Chip Tuttle last night said he has had discussions this week with "suitable gaming partners that have been through the process in Massachusetts, and there continues to be strong interest."

"We've also had very constructive discussions with Revere on what alternatives there are that honor both East Boston's no vote and Revere's overwhelming affirmation for gaming development," Tuttle added.

Revere Mayor Daniel Rizzo said he has been talking with Suffolk Downs "two or three times daily."

"Revere is a big part of that site," Rizzo said, "and our voices should be heard as well."

Officials for the other casino plan voted down Tuesday — Mohegan Sun in Palmer — yesterday asked for a recount after losing by 93 votes. A recount date has not yet been set.

The Gaming Commission also has scheduled a suitability hearing Wednesday for Foxwoods' Milford casino, which town residents will vote on Nov. 19.

And, the revised compact between the state and the Wampanoag tribe for its East Taunton casino, which has received the Legislature's conditional approval, is expected to head back to the Senate and the House next week for enactment before it can be signed by the governor and the tribe and sent to the federal government for review.


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Few options for Obama to fix cancellations problem

WASHINGTON — President Barack Obama says he'll do everything he can to help people coping with health insurance cancellations, but legally and practically his options appear limited.

That means the latest political problem engulfing Obama's health care overhaul may not be resolved quickly, cleanly or completely.

White House deputy spokesman Josh Earnest said Friday that the president has asked his team to look at administrative fixes to help people whose plans are being canceled as a result of new federal coverage rules. Obama, in an NBC interview Thursday, said "I am sorry" to people who are losing coverage and had relied on his assurances that if they liked their plan, they could keep it.

The focus appears to be on easing the impact for a specific group: people whose policies have been canceled and who don't qualify for tax credits to offset higher premiums. The administration has not settled on a particular fix and it's possible the final decision would apply to a broader group.

Still, a president can't just pick up the phone and order the Treasury to cut checks for people suffering from insurance premium sticker shock. Spending would have to be authorized by law.

Another obstacle: Most of the discontinued policies appear to have been issued after the law was enacted, according to insurers and independent experts. Legally, that means they would have never been eligible for cancellation protections offered by the statute. Its grandfather clause applies only to policies that were in effect when the law passed in 2010.

More than five weeks after open-enrollment season started for uninsured Americans, Obama's signature domestic policy achievement is still struggling. Persistent website problems appear to have kept most interested customers from signing up. Repairs are underway. Friday the administration said the website's income verification component will be offline for maintenance until Tuesday morning. An enrollment report expected next week is likely to reflect only paltry sign-ups.

Website woes have been eclipsed by the uproar over cancellation notices sent to millions of people who have individual plans that don't measure up to the benefits package and level of financial protection required by the law.

"It was clear from the beginning that there were going to be some winners and losers," said Timothy Jost, a law professor at Washington and Lee University in Virginia, who supports the health overhaul. "But the losers are calling reporters, and the winners can't get on the website."

In the House, a Republican-sponsored bill that would give insurers another year to sell individual policies that were in effect Jan. 1, 2013, is expected to get a floor vote late next week. In the Senate, Louisiana Democrat Mary Landrieu has introduced legislation that would require insurers to keep offering current individual plans. Democrats, who as a group have stood firmly behind the new law so far, may start to splinter if the uproar continues.

The legislation faces long odds to begin with, but it may not do the job even if it passes. The reason: States, not the federal government, regulate the individual insurance market. State insurance commissioners have already approved the plans that will be offered for next year. It may be too late to wind back to where things stood at the beginning of this year.

"It has taken the industry many months to rejigger their systems to comply with the law," said Bob Laszewski, a health care industry consultant. "The cancellation letters have already gone out. What are these guys supposed to do, go down to the post office and buy a million stamps?"

The insurance industry doesn't like the legislative route either. "We have some significant concerns with how that would work operationally," said Robert Zirkelbach, spokesman for the trade group America's Health Insurance Plans.

Behind the political and legal issues, a powerful economic logic is also at work.

Shifting people who already have individual coverage into the new health insurance markets under Obama's law would bring in customers already known to insurers, reducing overall financial risks for the insurance pool.

That's painful for those who end up paying higher premiums for upgraded policies. But it could save money for the taxpayers who are subsidizing the new coverage.

Compared with the uninsured, people with coverage are less likely to have a pent-up need for medical services. At one point, they were all prescreened for health problems.

A sizable share of the uninsured people expected to gain coverage under Obama's law have health problems that have kept them from getting coverage. They'll be the costly cases.

Obama sold the overhaul as a win all around. Uninsured Americans would get coverage and people who liked their insurance could keep it, he said. In hindsight, the president might have wanted to say that you could keep your plan as long as your insurer or your employer did not change it beyond limits prescribed by the government.

Meanwhile, Rep. Darrell Issa, R-Calif., chairman of the House Oversight Committee, said late Friday he had issued a subpoena to Todd Park, Obama's top adviser on technology, to appear before his committee next week. The White House has said Park is too busy trying to fix the health care website to appear.

___

Associated Press writers Julie Pace, David Espo and Kevin Vineys contributed to this report.


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Amenities rival upscale hotels’

Written By Unknown on Jumat, 08 November 2013 | 20.25

It's not new for apartment buildings to be customized with common areas, including pools, gyms and game rooms, but some of today's high-end buildings are outdoing each other with services and features that rival the most upscale hotels.

"Modern and sophisticated amenities are extremely important for developers when differentiating their product in the marketplace," said Ted Tye, managing partner at National Development.

A number of Boston luxury rental buildings can boast of amenities such as a health club or fitness center, an on-site concierge and lobby-level bicycle storage. But even communal party spaces, billiard rooms and screening rooms are becoming more and more common.

Maxwell's Green, located on 5.5 acres in Somerville, features 184 rental units with amenities to rival downtown Boston luxury apartment buildings. The property was completed last year by Gate Residential Properties and includes an on-site fitness center with a TRX training room, a club suite with an outdoor terrace that can be reserved for functions or parties, a cyber cafe, underground bicycle storage and garage parking with electric car charging stations.

"The property is also offering a level of service that adds to a sense of community, with weekly fitness and yoga classes, 'football Sundays' in the theater room and organic cooking classes in an open chef's kitchen at the club suite," said Damian Szary, principal of Gate Residential Properties. Prices range from about $1,965 for a studio to $4,055 for a three-bedroom townhouse.

Recently completed in August by Metric Construction, Gatehouse 75 in Charlestown is a five-story apartment building with 99 apartments. The property features a drive-through portico providing access to an underground garage, an on-site Zip Car, a 2,000-square-foot rooftop deck with trellis and grill, a resident lounge with catering kitchen and a state-of-the-art fitness center. The common roof deck has incredible views of Boston, the Zakim Bridge, Bunker Hill Monument and Charlestown. Apartments range in price from about $2,750 to $3,675.

Boston's newest building to open its doors is the Kensington, a 27-floor, 381-unit tower by National Development in downtown. On the sixth floor known as Club Kensington, residents have access to an outdoor pool, game room, cafe, solarium, quiet library area, gym, exercise room, tech room, lounge and kitchen area, and the "do-it-yourself" pet spa called the groom room. One-bedrooms start around $3,000 and two-bedrooms are priced in the high $4,000s to the $9,000s.

Designed to reimagine the former Boston Herald site, National Development's Ink Block South End will feature 475 units of housing in five buildings and 85,000 square feet of premiere retail space, including a flagship 50,000-square-foot Whole Foods Market. It's set to open in early 2015.

"At Ink Block, we aimed to create a community that sets a new standard for the style of the South End and would attract people looking for all the conveniences associated with luxury urban living," said Tye.

Invented for those who wish to live life South End-style, the Ink Block will include edgy and stylish living accommodations and luxury amenities, including a rooftop pool, outdoor living room, fitness center, bicycle workshop, dog amenities and underground parking.

Jennifer Athas is a licensed real estate broker. Follow her on twitter @jenathas.


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The Ticker

Markets take hit

Frenzied buying in Twitter shares grabbed Wall Street's attention yesterday, as the social media stock surged well above expectations, while major indexes fell, with the S&P 500 suffering its worst daily decline since August.

The broader market was hurt by weak earnings from Whole Foods and Qualcomm. The tech-heavy Nasdaq index recorded its biggest daily decline in a month.

The Dow Jones industrial average was down 152.90 points, or 0.97 percent, at 15,593.98. The Standard & Poor's 500 Index was down 23.34 points, or 1.32 percent, at 1,747.15. The Nasdaq Composite Index was down 74.61 points, or 1.90 percent, at 3,857.33.

Disney reports gain above expectations

Walt Disney Co. reported a gain in profit that beat Wall Street expectations, boosted by higher spending by summer visitors to U.S. theme parks and increased sales of toys and other consumer products.

The media company posted diluted earnings per share of 77 cents for the quarter ended in September, according to a statement released yesterday. That beat the 76 cents per share that was the average estimate of analysts surveyed by Thomson Reuters.

Net income for the quarter rose to $1.4 billion, a 12 percent gain from a year earlier.

Tax refund ID theft growing

More Americans' identities were stolen in tax refund crimes in the first six months of 2013 than in all of 2012, said a U.S. Internal Revenue Service watchdog yesterday, describing the problem as "a growing epidemic."

Tax refund fraud has exploded in recent years. Scammers typically use stolen names and Social Security numbers to file phony electronic tax forms for IRS refunds.

TOMORROW

 Labor Department releases employment data for October.

 American Student Assistance, a Boston-based nonprofit that helps people make better decisions about financing their education and repaying student loans through its SALT financial education program, has named Bryan Spence, left, to the newly created position of director of the Massachusetts SALT Alliance. In his new role, Spence will play a critical role in raising SALT's presence within Massachusetts. He will be charged with establishing a network of partnerships.

 Arrowstreet is pleased to announce the appointment of four firm leaders to the position of principal. The promotion of architects David Bois, Amy Korte, Sean Selby and Larry Spang acknowledges their leadership roles and substantial contributions to the practice of architecture.


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Twitter stock closes 73% above IPO price

Shares of Twitter skyrocketed yesterday on its first day of trading on the Nasdaq in what analysts said was an emotional reaction to the highly anticipated, high-profile IPO.

"It's a passion play," said Max Wolff, chief economist at ZT Wealth. "Buying the IPO of Twitter is like buying the opening night of the Rolling Stones reunion tour."

The stock closed at $44.90, 73 percent above its $26 initial offering price after hitting as high as $50.09. That closing price put the value of the social network that reinvented communication in 140-character bursts at 
$31 billion — nearly as much as Yahoo Inc. and just below Kraft Foods.

The shares shot up because of the combination of a unique company, a relatively scarce initial offering and "stratospheric" attention, said Wolff.

"My guess is you'll see the shares settle below where they are," he said, predicting they'll end up around $30 to $32.

Jeffrey Sixa, president and chief investment officer of Sica Wealth Management, said any price over $40 reflects "hype."

Research firm Outsell Inc. put Twitter's fundamental value at about half of the IPO price, said analyst Ken Doctor. That figure is based on factors such as revenue and revenue growth.

"That's not unusual," Doctor said. "Especially for tech companies. You are betting on a big future."

Wolff said Twitter's $31 billion valuation after the first day of trading is not necessarily wrong, but "that's going to be tough to grow into." Still, Wolff said, "It's a good company with a bright future."

While the soaring stock price made Twitter founders rich, Boston-based Spark Capital also is in for a significant payday. The venture capital firm, led by Bijan Sabet, invested in Twitter in 2008, and owns 6 percent of Twitter shares.

Twitter, which hasn't turned a profit in the seven years since it was founded, worked hard to temper expectations ahead of the IPO, but all that was swiftly forgotten with the stock's opening surge.

The company had initially pitched an offering price of $17 per share, but raised the price twice after the deals became overbooked. The company received orders for about 30 times as many shares as it offered, according to Bloomberg.

The most anticipated initial public offering of the year was carefully orchestrated to avoid the glitches and eventual letdown that beset Facebook's first appearance on the Nasdaq 18 months ago.

Facebook closed just 23 cents above its $38 IPO price on that first day and later fell much lower. It took more than a year for Facebook shares to climb back above $38.


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Massachusetts economy’s running ahead of U.S.

A recovering housing market and resilient consumers boosted the Bay State economy in the third quarter, but federal fiscal policies continue to restrain growth, according to a University of Massachusetts journal.

Massachusetts real gross domestic product grew at an annual rate of 3.5 percent, well above the national rate of 2.8 percent and more than double the state rate of 
1.7 percent in the second quarter, according to the latest MassBenchmarks published by the UMass Donahue Institute in collaboration with the Federal Reserve Bank of Boston.

The improvement was due to slow but better job growth, a recovering housing market, rising incomes and a higher rate of spending on goods subject to sales tax — all providing some relief from the fiscal drag of the across-the-board cuts in federal spending known as sequestration and higher payroll taxes than last year.

"The state housing market, as well as consumer spending, have both firmed up, perhaps more so than nationally," said Robert Nakosteen, executive editor of MassBenchmarks and professor of economics and statistics at the UMass-Amherst Isenberg School of Management. "However, pushing the other way, the sequester and global weakness is hurting the state. The balance seems to be favorable."

Both Nakosteen and MassBenchmarks' senior contributing editor, Alan Clayton-Matthews, cautioned, however, that their estimate of the state's economic growth in the third quarter is based on incomplete data because last month's federal government shutdown caused a delay in the state's employment report for September until Nov. 22.

Using the national employment report for September and the historical average relationship between U.S. and Massachusetts employment, MassBenchmarks estimated the state's missing September payroll employment data at 1,000 new jobs, indicating that state employment expanded at an annualized rate of growth of 
0.7 percent in the third quarter. In contrast, during the second quarter, payroll employment declined at a 
0.3 percent annualized rate, said Clayton-Matthews, associate professor of economics and public policy at Northeastern University.

Nationally, the 2.8 percent annual rate at which real GDP grew in the third quarter was "a tepid number by itself, but still the fastest growth seen so far in 2013," said Doug Handler, chief U.S. economist at IHS Global Insight in Lexington.

"The consensus growth rate was around 2 percent, with most of the gap traceable to a buildup of inventories," Handler said, referring to goods that collect in warehouses and on retailers' shelves.


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Worcester health insurer lays off 62 workers

WORCESTER, Mass. — A Worcester-based health insurance provider has announced that it is laying off 62 workers, or about 6 percent of its total workforce.

Fallon Community Health Plan President and Chief Executive Patrick Hughes said in a written statement Thursday that the insurer made the cuts to operate as efficiently and effectively as possible.

The Telegram & Gazette (http://bit.ly/1bcPjQD ) reports that the statement said the decision was made "following a very careful review of our current and projected costs."

Fallon continues to employ about 1,060 workers.

The health insurer posted net income of $7.3 million during the second quarter ended June 30. At that time, it had 229,385 members.

Fallon reported that workers affected by cuts are receiving severance and job placement services.

___

Information from: Telegram & Gazette (Worcester, Mass.), http://www.telegram.com


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Startups urged to fight patent trolls

Written By Unknown on Kamis, 07 November 2013 | 20.25

The booming Bay State startup economy is being threatened by patent trolls — patent-owning firms with frivolous or overreaching infringement claims — and needs to fight back, industry leaders and Attorney General Martha Coakley said yesterday.

Level Up founder Seth Priebatsch said fighting patent trolls has cost his firm nearly $1 million, and prevented him from hiring as many as 20 workers.

"We're lucky to have great backers," he said. "There's lots of other companies that are smaller and can't afford the legal bills."

Level Up — which makes an app that lets users pay with their phones — is fighting four suits from patent trolls, including one that alleges infringement on a patent designed to monitor traffic.

Priebatsch was joined at the Boston headquarters of Level Up's parent company, SCVNGR, by Coakley and Cambridge Innovation Center CEO Tim Rowe.

"It really is highway robbery," said Rowe, whose Kendall Square center houses about 450 startups. "Over half of all patent litigation is in the troll category."

Coakley said her office is looking into how to defend Bay State companies from the "predatory behavior," including filing unfair business practices lawsuits.

Vermont Attorney General William Sorrell, who sued a patent troll in the spring, told the Herald he has not heard of any other such complaints since then.

"I think Vermont has delivered a pretty strong message that patent trolls should stay out," he said.


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Power players laud Marty Walsh as ‘facilitator’

Power brokers and developers welcomed the prospect of doing business with Mayor-elect Martin J. Walsh yesterday, calling him a fair negotiator focused on "getting to yes," based on his past experience as a union leader.

"People have a trust for Marty because he's very direct and very candid. You know where you stand," said developer Joseph Fallon, whose company negotiated with Walsh for a union agreement to develop Fan Pier. "He's a balanced negotiator. ... He'd push very hard, but he knew not to push too far."

Walsh spent two years as the head of the Building and Construction Trades Council of the Metropolitan District, where he negotiated directly with construction companies and developers.

"Every time I dealt with him he was a facilitator and a problem-solver, not an obstructionist," said John Fish of Suffolk Construction. "If you understand real estate, there are many, many simple ways of getting to no. The challenge is getting to yes. I think he has the intellectual prowess to get us to yes on the develop­ment side in a thoughtful, appropriate way."

Fish called talk of Walsh dismantling the Boston Redevelopment Authority "way overblown."

Meanwhile, Tom Andrews of Alexandria Real Estate Equity said Walsh made a major concession on two Kendall Square developments — agreeing to let workers be paid time and a half instead of double time on weekends.

"Having an outcome that gave some concessions to us ... enabled us to better control the cost of our project," said Andrews. "These things don't get built if costs are out of control."

Mark Erlich of the New England Regional Council of Carpenters said while the media raised concerns about Walsh's union ties, executives have not.

"All the developers I've talked to are welcoming him as a new mayor because they have experience with him," said Erlich.


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Skanska’s ship comes in with third Seaport parcel

Skanska Commercial Development has acquired its third Seaport Square parcel, paying $36 million for a former parking lot on which it plans a 425,000-square-foot office building with ground-floor retail.

"We'll be engaging a design and consulting team immediately and start to plan the project," Executive Vice President Shawn Hurley said.

A construction date hasn't been set, but Skanska has been showing conceptual plans to prospective tenants.

"The market is very strong, and there's a high level of interest," Hurley said. "One of the draws of the Seaport District right now is there's a wide array of tenant types interested in offices down there."

Skanska purchased the one-acre lot from Boston Global Investors and Morgan Stanley, master developers of Seaport Square, an estimated $3.5 billion, 23-acre, 6.5-million-square-foot development on the South Boston waterfront that will convert 3,700 parking spaces into residential, retail, office, hotel and other uses. Known as "L2," the lot is across from Seaport Square's first office building project: Skanska's $126 million, 17-story 101 Seaport Boulevard, which got under way in September.

Skanska and partner Twining Properties are expected to announce soon the start of Skanska's second Seaport Square development: Watermark Seaport, a 346-apartment tower with 25,000 square feet of ground-floor retail.

"It's going very well," Hurley said. "We're trying to put the last touches on planning that deal."

Skanska's three Seaport Square projects will total about 1.2 million square feet combined.


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BRA: Exhibit ‘Vital’ to foot traffic

Faneuil Hall Marketplace is bringing in a new tenant just in time for the holiday shopping season, but it's not a store or restaurant.

"Body Worlds Vital" — an exhibit of human body parts and cadavers preserved through "plastination" — debuts at the center Nov. 22.

An iteration of German doctor Gunther von Hagens' "Body Worlds 2" that ran for six months at the Museum of Science in 2006-2007, it will be open through March on the second floor of Quincy Market, in the former Comedy Connection space that's been vacant since 2008.

It's another short-term move by marketplace manager Ashkenazy Acquisition Corp. to drive foot traffic, following Nintendo's Wii U Tour stop in August and the 1D World pop-up store in April.

"We think it's a great temporary installation," Boston Redevelopment Authority spokeswoman Susan Elsbree said. "This exhibit is supposed to drive over 20,000 people to the marketplace."

The BRA signed off on Ashkenazy's $136 million purchase of the marketplace's lease in 2011 based in large part on its capital commitment to the city-owned center, including upgrades to draw locals. In June, it expressed frustration over the New York real estate investment firm's slow pace of progress on a master plan. Ashkenazy did not return calls yesterday.

But the firm, which hired Boston's Elkus Manfredi Architects in December to help guide the master plan, since has added Watertown planning and design firm Sasaki Associates and New York's Biederman Redevelopment Ventures Corp. to its team.

"We think that that's good news for the marketplace," Elsbree said.

Biederman will concentrate on the center's outside areas, according to Carol Troxell, president of the Faneuil Hall Merchant Association. Troxell and other merchants recently toured New York's Bryant Park with Daniel Biederman, who's also co-founder of Bryant Park Corp.

Troxell is on board with "Body Worlds Vitals" exhibit: "It's opening at a good time, because the tourist season is winding down. If it brings the medical groups in and the school trips and other groups, that will certainly help the merchants."

But in addition to "Body Worlds 2," area residents had the chance to see two copycat exhibits in recent years, including one that filled vacant space at the Atrium Mall in Chestnut Hill in 2011. That exhibit closed three months early due to a lack of visitors — despite aggressive marketing by the mall's owner.


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Fannie Mae posts 7th straight profit in 3Q

WASHINGTON — Mortgage giant Fannie Mae earned $8.7 billion in the July through September period, its seventh straight profitable quarter. The government-controlled company will have nearly repaid in full its taxpayer bailout of five years ago, after paying its third-quarter dividend.

Fannie said Thursday its earnings were boosted by the rise in home prices during the quarter, which enabled it to reduce its reserves set aside for losses on mortgages.

The earnings for the latest period compared with net income of $1.8 billion in the third quarter of 2012.

Washington-based Fannie said it will pay a dividend of $8.6 billion to the U.S. Treasury next month, bringing its payments to about $114 billion. Fannie received about $116 billion from taxpayers when the government rescued it and smaller sibling Freddie Mac during the financial crisis.


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Toyota profit jumps 70 percent despite sales slip

Written By Unknown on Rabu, 06 November 2013 | 20.25

TOKYO — Toyota's quarterly profit soared 70 percent, and the world's top-selling automaker raised its earnings forecast, as cost cuts and the weaker Japanese yen compensated for slightly weaker vehicle sales.

The Tokyo-based maker of cars such as the Prius and the Camry said Wednesday its July-September net profit rose to 438.4 billion yen ($4.4 billion) from 257.9 billion yen a year earlier.

Profits at Japanese automakers have surged in yen terms as the Japanese currency weakened against the U.S. dollar over the past year, helped by a mammoth Bank of Japan effort to expand the money supply and ignite inflation to end years of economic stagnation.

Nissan Motor Co., Japan's second-largest automaker, booked only a 2 percent increase in quarterly profit, but without the bump from the yen its situation would have been worse. Honda's quarterly profit rose 46 percent and earnings at mid-size automaker Mitsubishi Motor Corp. nearly tripled.

A year ago, the yen was trading at about 79 to the U.S. dollar. Now it is just under 100 to the dollar. Any further substantial gains in profits for Japan's auto industry will have to come from cost cuts, stronger sales or other competitive improvements.

Toyota Motor Corp. has been the biggest beneficiary of the weaker yen, gaining 280 billion yen ($2.8 billion) in net income in the latest quarter from foreign exchange effects.

The automaker raised its earnings forecast for the fiscal year ending March 2014 to 1.67 trillion yen ($16.9 billion). But it kept its sales forecast at 9.1 million vehicles, anticipating that higher than expected sales in Japan, North America and Europe will be countered by lower sales in Asia.

Quarterly sales slipped to 2.24 million vehicles from 2.25 million vehicles a year earlier.

Toyota last month said its global sales for January-September this year totaled 7.41 million vehicles, little changed from the previous year but outpacing General Motors to keep its lead as the world's top-selling automaker.

GM lost the global sales throne to Toyota for the first time in 2008 but retook the crown in 2011, when Toyota's plants were stymied by an earthquake and tsunami in northeastern Japan that damaged parts suppliers. Toyota recovered the lead last year.

While rivals GM and Germany's Volkswagen AG have been growing in China, Toyota's sales have suffered from anti-Japanese sentiment that flared up last year over territorial disputes.

Toyota's growth has come largely from the popularity of the Camry, Corolla and Tundra in the U.S. The company's sales number includes heavy trucks made by Toyota's group company Hino Motors, so the competition is hotter when such models, which GM lacks, are excluded from Toyota's tally.

The revival of U.S. automakers and strong line-ups from European and other Asian car makers present a challenge to Toyota, said Karl Brauer, senior analyst for Kelly Blue Book.

"This increased global competition means increased pressure on Toyota to introduce new and better products while controlling costs and maintaining profitability," he said in a commentary.

Japanese automakers have struggled with costly recalls over the past few years, another pitfall for profitability. In announcing a management reshuffle last week, Nissan's CEO and president Carlos Ghosn emphasized his impatience over the car maker's recent troubles with quality glitches, saying they demanded "immediate action."

Toyota's president Akio Toyoda likewise has stressed his determination to avoid quality lapses similar to those that led to a massive recall fiasco in the U.S. that came on the heels of the financial crisis.

Toyota's half-year profit rose 83 percent to 1 trillion yen ($10.1 billion).

The company increased its capital spending plans by 20 billion yen ($203 million) to 940 billion yen ($9.5 billion).


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ECB rate cut hopes shore up markets

LONDON — Markets, particularly in mainland Europe, recovered their poise Wednesday amid hopes that the European Central Bank may be moved to cut interest rates to shore up the recovery from recession.

The Fed has been the central bank most in the news in recent months as investors have tried to gauge when it would start pulling the plug on its monetary stimulus. On Friday, investors will have perhaps the most important economic release of all to digest — the nonfarm payrolls report for October, which was delayed because of the partial shutdown of the U.S. government.

Before then, the ECB will take center stage with one of its most keenly-awaited policy meetings of recent months. Last week's news that inflation in the 17-country eurozone fell sharply to 0.7 percent in the year to October raised expectations that it will cut its main interest rate to a record low of 0.25 percent.

On Wednesday, further evidence emerged that the eurozone's recovery from recession is muted and prone to setbacks. Official figures showed retail sales across the region fell 0.6 percent in September, while a private sector survey of purchasing managers — a gauge of business activity — indicated growth was easing.

"There is cautious optimism about the European Central Bank's forthcoming interest rate decision," said David Madden, market analyst at IG.

In Europe, stock markets where the euro is the currency were having a strong day. Germany's DAX rose 0.5 percent to 9.050 while the CAC-40 in France was 1 percent higher at 4,294. In Britain, which doesn't use the euro as its currency, the gains were more muted, with the FTSE 100 index up only 0.1 percent at 6,755.

Wall Street was poised for a solid opening, with Dow futures up 0.5 percent and the broader S&P 500 futures 0.6 percent higher.

The greater appetite for risk that was evident in stock markets Wednesday was also evident elsewhere. In the currency markets, the euro was 0.3 percent higher at $1.3517 while in commodities, the price of benchmark New York crude rose 68 cents to $94.05 a barrel.

Earlier in Asia, Hong Kong's Hang Seng was barely changed at 23,036.94 and China's Shanghai Composite shed 0.8 percent to 2,139.61. Japan's Nikkei 225 outperformed, reversing early losses to close up 0.8 percent at 14,337.31.

Also looming, and particularly important for Asian investors, is the scheduled meeting of Chinese leaders in Beijing from Nov. 9-12 over a new blueprint for the world's No. 2 economy as its state-led growth model runs out of oomph.

____

Teresa Cerojano in Manila, Philippines contributed to this report.


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ING profit dented by loss on sale of Korean arm

AMSTERDAM — ING Groep NV saw its third-quarter profit fall sharply after it booked a loss on the sale of operations in South Korea.

However the company's new chief executive said Wednesday profits on an underlying basis were stable and that the company is close to repaying rescue money it received from the Dutch state in times of crisis in 2008 and 2009.

Jan Hommen, the executive who stepped in after the bailouts to oversee ING's restructuring, retired on Oct. 1. His replacement, Ralph Hamers, said Wednesday that ING is "grateful" for the taxpayer money.

Net profit for the quarter was 101 million euros ($136 million), down from 659 million euros in the same period a year ago. During the quarter, it booked a 950 million euro loss on the sale of its South Korean insurance arm. Underlying profits, which exclude tax and one-time items, were 891 million euros, up 5.6 percent.

ING received 10 billion euros of state aid in 2008. It has been steadily shedding operations and repaying that debt, plus interest, ever since. On Wednesday it repaid 1.13 billion euros, leaving it with a remaining tab of 1.5 billion euros.

Investors appeared impressed by the underlying performance and the pledge to repay the bailout cash and the company's share price was trading 4.4 percent higher at 9.68 euros in early trading in Amsterdam.

Alongside the quarterly results, ING updated markets on the results of a deal the company struck a deal in 2009 with the Dutch state to offload most of its 24 billion euros portfolio of subprime U.S. mortgage-backed bonds.

That agreement, struck when the value of the portfolio was difficult to determine, has proved surprisingly fair: the portfolio has shrunk to 6 billion euros as homeowners repaid the underlying mortgages, and the state currently stands to book a 400 million euro profit when it sells the remainder of the portfolio next year.

ING said it was near to meeting demands from European regulators for it to hive off its insurance operations to compensate for the advantage of having a state backstop during the financial crisis. Earlier this year, ING's U.S. insurance arm was separated in an initial public offering.

The company also said it expects to float off its European insurance operations next year and has decided to include its Japanese insurance arm in that offering, rather than selling it separately as it has other Asian operations.


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Samsung aims to topple Apple as No. 1 in tablets

SEOUL, South Korea — Samsung Electronics Co. has a new goal after overtaking Apple in smartphones: it wants to be world No. 1 in tablet computers too.

A top executive, Shin Jong-kyun, told analysts on Wednesday that Samsung's tablet business is growing rapidly and the company will become the biggest maker of tablet computers. He didn't give a timeframe.

Shin said Samsung's tablet sales will exceed 40 million units this year, more than double sales in 2012.

"Samsung tablet shipments started to grow remarkably since the second half of last year," he said.

Research group IDC estimates that Samsung sold 16.6 million tablets in 2012, lagging far behind Apple Inc. which sold 65.7 million iPads.

But Samsung is on the rise, capturing 20 percent market share in the July-September quarter while Apple, which led the commercialization of tablet computing, fell to 30 percent.

Apple previously had more than half of the global tablet market but its dominance has eroded as Samsung boosted sales with cheaper Galaxy Tab computers that offer many different screen sizes.

The same trend has already played out in smartphones. Apple transformed the mobile phone industry when it started selling the iPhone in 2007 but its success was quickly imitated and Samsung's smartphone shipments surpassed Apple's iPhone sales in 2011. The following year, the South Korean company became the largest supplier of mobile handsets overall, surpassing Nokia.

Shin's speech was part of Samsung's first event tailored for analysts and investors since 2005 as the South Korean company tries to boost its share price, which has flagged despite a string of record profits.

Responding to pressure to increase returns to investors, Chief Financial Officer Lee Sang-hoon said Samsung plans to double its dividend this year to the equivalent of 1 percent of the average price of its common shares.

Samsung also said it plans to adopt outside technologies and hire talent through aggressive acquisitions.

Kwon Oh-hyun, the company's vice chairman, said Samsung wants to be the top medical device maker through acquiring companies and developing its own technologies. In the last three years, Samsung spent $1 billion to buy 14 companies in medical equipment, mobile software and services.

The event failed to boost investor confidence immediately. Shares of Samsung closed 2.3 percent lower in Seoul.


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In Boston, helping amputees is this family's biz

BOSTON — When amputees take their first steps on artificial legs, that moment of triumph can be tinged with a sudden sense of disappointment that things will never be the way they were before.

Paul Martino, president of a family-run Massachusetts prosthetics company, has seen it many times. Lately, he has seen it with survivors of the Boston Marathon bombing.

Since the April 15 attack, eight people who lost one or both legs have come to United Prosthetics, a company that Martino's Italian immigrant grandfather, originally a shoemaker, started in Boston in 1914.

Inside the company's two-story brick building in the city's Dorchester section, crews use carbon fiber to fabricate sockets that fit over the end of a wounded leg. Then they connect the sockets to artificial knees and feet that are manufactured elsewhere.

The company deals with patients who have lost limbs to accidents, diabetes or combat, and part of the Martino family's job is being honest with those who are suddenly realizing they won't get back everything they had. The Martinos urge people to give it time.

"We're the voice of reality. First, it sucks to be an amputee," said Martino, a 62-year-old National Guard veteran. "Whoever designed us, whatever you believe, made the perfect machine. We're chasing it."

That go-slow, one-day-at-a-time approach was a challenge for bombing victims like Mery Daniel.

The 31-year-old medical school graduate lost most of her left leg and wanted her life to get back to normal quickly. She was disappointed initially that the first socket she got was bulky and didn't seem to be state-of-the-art. But she decided to stick with United Prosthetics.

"I was too quick to judge," Daniel said. "We keep on comparing those legs with what we used to have. But they're not our legs." She added: "The idea of 'Give it time' I think was spot-on."

Martino runs the business along with his siblings Greig, Mary and Gary, and his son Chris.

Gary Martino, 49, said his late father believed in educating people about prosthetics, a field he says has gotten more attention because of the Boston tragedy and the troops who have lost limbs in Iraq and Afghanistan.

"I used to say, 'I make fake arms and legs,'" Gary Martino said. "Now I can tell people I make orthotics and prosthetics."

Some of the bombing victims who came to United Prosthetics have moved on to other companies. The Martinos said they use the latest technology, but unlike some other companies, they don't like to fit new amputees with certain kinds of prosthetic systems while their injured limbs are still changing shape.

Patients replace artificial limbs many times throughout their lives, and the Martinos said some open up and come to feel like part of their family.

Joe LeMar, who has been a patient for about 20 years, is one of those people. The 42-year-old Massachusetts high school track coach began competing with a prosthetic device after losing a foot to a tumor, and he won medals at the Paralympics in 1992 and 2000.

Over the years, United Prosthetics has outfitted him with more than 20 artificial limbs. He said the marathon bombing victims are in good hands with the Martinos.

"They're going to get back to close to where they were pretty soon," he said.


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What is Google building out in San Francisco Bay?

Written By Unknown on Selasa, 05 November 2013 | 20.25

San Francisco's mayor says he doesn't know what it is. Police say it's not their jurisdiction. And government inspectors are sworn to secrecy.

Google is erecting a four-story structure in the heart of the San Francisco Bay but is managing to conceal its purpose by constructing it on docked barges instead of on land, where city building permits and public plans are mandatory. Construction became obvious a few weeks ago.

The Internet giant's actions at Treasure Island appear legal. But the mystery surrounding the bulky floating building — and a similar one off Portland, Maine — is generating rumors and worries.

Privacy experts, environmentalists and legal authorities say that whether it is a store to sell Google's Internet-connected glasses, a data storage center or something else, the secrecy may backfire because Silicon Valley residents are highly protective of one of the most scenic and environmentally sensitive bays in the U.S.

"At some point they're going to have to unveil what it is they're doing, and it will be sad if they have put a lot of money into something that is simply not allowable in the bay," said Deb Self, executive director of the environmental group Baykeeper.

Self said whether the barge-mounted structure is a store, as is widely rumored, or a data center powered by wave action, for which Google has a patent, there are going to be grave concerns.

"We don't really want to see the bay used as a shopping mall. Unacceptable," she said. And environmentalists warn that water-cooled data centers might warm the sea and harm marine life.

Google's usually responsive media relations team has not responded to repeated calls or emails over several days, but records and other official accounts identify the project as Google's.

Google has dodged public scrutiny by essentially constructing a vessel, not a building. Thus it doesn't need permits from San Francisco, a city with copious inspection and paperwork requirements for builders.

Google has also avoided the San Francisco Bay Conservation and Development Commission, a state agency that governs projects on the water and has its own long list of public reviews and permit requirements.

If, when the project's ready, Google wants to sail it out the Golden Gate and into the Pacific Ocean, the tech giant won't ever need to explain what it's been up to.

But if Google wants to do anything with the structure in the bay, it will have to face public scrutiny, said BCDC executive director Larry Goldzband. He said the agency has had a few meetings with Google, but "they've been less than specific about their plans."

"When they decide to let us know what they plan to do with it, or hope to do with it, then we can decide if it's allowable," he said.

Work on the barge is kept under wraps, literally. Supplies are kept onshore in hangars rented by a Delaware corporation named By and Large, (a play on the word "barge"?), under a $79,000-per-month lease that expires next August.

The name and number for By and Large on the lease led to a man named Mike Darby, who seemed baffled by a call from The Associated Press. "I'm not sure how my name got on the lease," he said. "I have nothing to do with it. I'm in Singapore and it's the middle of the night."

A second man on the lease, Kenneth Yi, could not be located.

There is one agency keeping an eye on things: The Coast Guard has been routinely inspecting the two barges on the East and West coasts, as it would any vessel under construction, but spokeswoman Lt. Anna Dixon said she couldn't talk about what the agency has found, citing nondisclosure agreements with an entity other than Google.

Such agreements, she said, are "not a standard practice" at her agency. She said she didn't know the name of the entity.

A similar four-story structure was built this summer in the New London, Conn., harbor, and has now moved north off Maine. The Day newspaper in Connecticut found details tying that barge to Google in documents obtained through a Freedom of Information Act request.

Santa Clara University law professor Dorothy Glancy said nondisclosure agreements involving inspectors are common for land-bound Silicon Valley construction projects because there are plenty of trade secrets in the clean rooms and laboratories where computer chips are built and technology is developed.

But she said Google might want to take a lesson from another bay-area mystery barge. In the 1970s, billionaire Howard Hughes docked an enormous barge called the Glomar Explorer just off Mountain View, Calif., where Google is now headquartered. Hughes said the Glomar was going to mine manganese from the ocean floor, but in reality it was being used for a top-secret CIA mission to search for nuclear missile codes in sunken Soviet submarines.

"That experience should have told Google that being mysterious like this tends not to build public confidence," Glancy said.

Privacy advocate Jamie Court, president of Consumer Watchdog, said it is ironic that the company that wants to open the world's information to everyone "so zealously guards its own corporate secrecy."

"The barge is a perfect metaphor for a company that likes to ask forgiveness for its transgressions rather than permission," he said. "It's also a symbol of how far from mainland values the company is going with Glass and its privacy problems."

___

Follow Martha Mendoza at https://twitter.com/mendozamartha


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China warns local leaders to cut industry bloat

BEIJING — Chinese leaders have ordered local officials to stop expanding industries such as steel and cement in which supply outstrips demand, a Cabinet statement said Tuesday, in a sign previous orders to cut overcapacity were ignored.

Beijing has been trying since 2009 to cut excess production capacity, which has triggered price-cutting wars that threaten the financial health of some industries. But lower-level leaders whose promotions depend on economic development have continued to support local industries.

In a video conference on Monday, planning officials warned local leaders to stop ignoring orders to reduce overcapacity in industries including steel, cement, aluminum and glass.

"Those who still violate discipline will be heavily punished," said the deputy director of the Cabinet planning agency, the National Development and Reform Commission, Hu Zucai, according to the government newspaper China Daily.

Economists and business groups warn industrial overcapacity could hurt Chinese banks if unprofitable companies default on debts.

China's solar panel manufacturers have been especially hard-hit by excess production capacity and price-cutting.

In March, the main Chinese subsidiary of Suntech Power Holdings Ltd., once the country's biggest solar panel producer, was forced into bankruptcy court after missing a $541 million payment to bondholders. That unit was sold to a state-owned company.

In other industries, large amounts of production capacity are idle, the Cabinet statement said.

Cement manufacturers use only 71.9 percent of their capacity as of the end of 2012, according to the statement. The steel industry used 72 percent while the rate for glass manufacturers was 73.1 percent.

The scale of overcapacity is unprecedented, the China Daily said, citing Zhu Hongren, chief engineer of the Ministry of Industry and Information Technology.

Beijing has tried to prod producers in many industries into mergers to reduce output. But lower-level officials in many areas prop up unprofitable local companies with rent-free land and other aid.

The conflict is fed by a political system in which Communist Party officials are judged on their role in economic development. Building steel mills or other industrial assets shows up quickly in local economic statistics, helping leaders win promotion.

The rapid overexpansion of industrial capacity also was fueled by Beijing's multibillion-dollar stimulus in response to the 2008 global crisis, which was based on higher spending on building highways and other public works. That sent a flood of money to suppliers of steel, cement and other raw materials and helped them resist pressure to merge or reduce production.

In some places, the Cabinet statement said, local leaders go through the motions of obeying orders to tear down older steel mills, but then replace them with bigger facilities.


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Oil steady above $94 for second day

BANGKOK — Oil flat-lined for a second day Tuesday as traders waited for a new cue after a month of falling prices.

Benchmark U.S. crude for December delivery was up 11 cents at $94.73 a barrel at midafternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 1 cent to close Monday at $94.62, its lowest since mid-June.

Oil climbed above $108 in September amid worrying headlines about instability in Egypt and the civil war in Syria. It sank after that as Iran re-entered international talks over its nuclear program and rising U.S. crude stockpiles indicated muted demand.

U.S. economic indicators later in the week might determine whether oil continues to fall. The advance estimate of third quarter economic growth will be released Thursday and October hiring figures are due Friday.

Brent crude, a benchmark for international crude also used by U.S. refineries, was up 19 cents to $106.42 a barrel on the ICE exchange in London.

In other energy futures trading on Nymex:

— Wholesale gasoline added 0.4 cent to $2.532 a gallon.

— Heating oil rose 0.8 cent to $2.882 a gallon.

— Natural gas fell 2.1 cents to $3.424 per 1,000 cubic feet.


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Markets subdued in run-up to key global events

LONDON — Financial markets were leaden-footed Tuesday in the run-up to key economic events in Europe, the U.S. and China this week.

In the U.S., a run of economic data culminates on Friday with the publication of the delayed nonfarm payrolls report for October — a series of economic indicators that will go a long way to determining when the Federal Reserve will start to reduce its monetary stimulus.

In Europe, investors will be bracing themselves for the monthly policy meeting of the European Central Bank. Until last week's news that the annual inflation rate in the 17-country eurozone fell to just 0.7 percent in October, no change in policy was expected. Now, many economists think the ECB will either reduce its main interest rate to a record low of 0.25 percent or hint at future easing given that the central bank's main policy target is to keep inflation just below 2 percent.

And in China, leaders are scheduled to meet in Beijing from Nov. 9-12 to craft a new blueprint for the world's No. 2 economy as its state-led growth model runs out of oomph. Hopes are high that the plenum will announce changes to give private businesses a greater say in the economy but reforms will face resistance from officials and state companies who benefit from the status quo.

"Investors remain cautious ahead of U.S. GDP and jobs number, the ECB decision and the China third plenary," said Andrew Sullivan of Kim Eng Securities in Hong Kong.

In Europe, the FTSE 100 index of leading British shares was down 0.6 percent at 6,727 while the CAC-40 in France fell 0.4 percent to 4,271. Germany's DAX was 0.3 percent lower at 9,006.

Wall Street was poised for a soft opening, with both Dow futures and the broader S&P 500 futures down 0.3 percent.

Soon after the U.S. open, investors will be keen to see the impact of the partial government shutdown on the monthly report on the services sector from the Institute for Supply Management.

All the economic news out of the U.S. is being viewed through the prism of the Fed's stimulus. The Fed's $85 billion in monthly asset purchases have supported economic recovery by keeping interest rates low and have also been one of the reasons why many stock indexes, including the main U.S. markets, have struck record highs. Following the Fed's latest policy statement last week, some investors think "tapering" of the stimulus may begin as soon as December or January.

Earlier in Asia, Japan's Nikkei 225 closed 0.2 percent higher at 14,225.37 while Hong Kong's Hang Seng shed 0.7 percent to 23,038.95. China's Shanghai Composite gained 0.4 percent at 2,157.24. Australia's S&P/ASX 200 added 0.8 percent to 5,431.96.

The mood was subdued in other markets, too. In the currency markets, the euro, which was hit hard last week by growing expectations of an ECB rate cut, was down 0.2 percent at $1.3486, while the dollar fell 0.3 percent to 98.29 yen.

____

Teresa Cerojano in Manila, Philippines contributed to this report.


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Correction: Mali-France-Journalists Killed story

PARIS — In a story Nov. 3 about the deaths of two journalists in Mali, The Associated Press reported their ages incorrectly, relying on initial information from their employer, Radio France Internationale. Ghislaine Dupont was 57, not 51, and Claude Verlon was 55, not 58, according to new information from RFI. A corrected version of the story is below:

PARIS (AP) — Two veteran French journalists kidnapped and killed in northern Mali were shot to death, French authorities said Sunday, as questions emerged about how the gunmen managed to carry out the attack near a town where both French troops and U.N. forces are based.

The slayings of Ghislaine Dupont, 57, and Claude Verlon, 55, shocked France and underscored how insecure parts of northern Mali remain months after a French-led military intervention against al-Qaida and other extremists.

The new details, shared by French Foreign Minister Laurent Fabius after a meeting of key ministers with French President Francois Hollande, failed to clarify who was behind the killings and why the pair was targeted.

He said the two were shot multiple times and their bodies found near the vehicle that whisked them away. Earlier, four Malian officials, including the head of the armed forces in Kidal said the journalists' throats had been slit.

Their bodies were flown to the Malian capital of Bamako on Sunday, and were to be returned to France on Monday.

The Radio France Internationale journalists were kidnapped Saturday after interviewing a Tuareg rebel leader in Kidal. The northern town is under de facto rebel control despite the presence of French and U.N. troops.

French troops, alerted to the kidnappings, set up checkpoints, sent out patrols and called in helicopters to search for the journalists, French military spokesman Col. Gilles Jaron said.

But a patrol arrived too late, finding the abandoned vehicle east of the town and the bodies nearby. The French troops, some 200 of whom are based at the Kidal airport, had earlier found no trace of the fleeing vehicle.

Fabius said the bodies were found some 12 kilometers (8 miles) outside Kidal and "several meters" from the vehicle. RFI chief Marie-Christine Saragosse said they were found 80 meters (87 feet) from the kidnappers' vehicle.

The killings were "odious, abject and revolting," Fabius said. He said one journalist had been hit with three bullets, the other two — but that the car, whose doors were locked, showed no impact from bullets.

Cecile Megie, RFI's executive editor, said the two journalists had been seized by a group that spirited them away in a beige pickup truck.

"The site showed no trace of fighting, gunfire. It was an execution," Megie said.

Despite January's French-led intervention and a presidential election since, much of Mali, especially the vast north, remains in turmoil.

Suspicion as to who was behind the killings grew as bits of information trickled out.

Both Tuareg separatists of the National Movement for the Liberation of the Azawad, known as the NMLA, and al-Qaida-linked fighters operate in the area.

The NMLA rebels launched their latest rebellion in 2012. Those rebels were later chased out by al-Qaida's fighters in the region but have returned to prominence in Kidal in recent months.

Al-Qaida in the Islamic Maghreb has kidnapped Westerners, but it tends not to kill them but rather to hold them for ransom as a means of bankrolling its operations.

The killings came four days after France rejoiced at the liberation of four other citizens, who had been kidnapped in neighboring Niger three years ago and were found in northwest Mali.

"The killers are those we are fighting, that is, the terrorist groups who refuse democracy and refuse elections," Fabius said.

Mali is to hold a parliamentary vote later this month. The journalists had traveled to Kidal to report for a special program on Mali ahead of the voting.

Saragosse, who heads France 24 TV along with RFI, was traveling to Bamako on Sunday to accompany the return of the bodies.

She said the slain journalists had been accompanied from Bamako to Kidal, some 1,500 kilometers (930 miles) north, by U.N. troops who have been present since the end of the French intervention.

The pair — both long-time RFI employees familiar with challenging terrain — were taken to the town hall, "the safest place," said Saragosse, who also met with Hollande Sunday.

It was not immediately clear whether the U.N. troops were in the vicinity at the time of the kidnapping.

The French military spokesman confirmed reports that French forces in Mali had refused to take the journalists to Kidal for security and "operational reasons."

A U.N. spokesman said its troops had not noticed the vehicle used in the kidnapping in any of the seven checkpoints in and around the city manned by them.

"These seven checkpoints are at major transit locations and the vehicle of the kidnappers was not noticed at any of these checkpoints," said Olivier Salgado, spokesman for the U.N. mission in Mali.

He added: "You need to put this in the context of the desert. This is a place with dunes. They must have used a non-official road or path."

Lt. Col. Oumar Sy, a Malian officer stationed in Kidal and involved in the investigation, said that all signs point to the NMLA.

"We are in a town that is in the de facto hands of the NMLA," Sy said. "We learn these poor people are taken in front of the house of an NMLA leader. No one lifts a finger to help them. What conclusion would you come to?"

NMLA representatives in Kidal could not be reached for comment by The Associated Press on Sunday.

Dupont, a senior correspondent, and Verlon, a production technician, had worked at RFI since the 1980s.

Dupont spent the bulk of her career in Africa. "She was a sniffer dog, who was never content with the information she had. She always wanted to dig and dig some more," her colleague Nicolas Champeaux recalled.

Verlon had worked in Iraq and Afghanistan and was passionate about Africa, where he had been on numerous assignments, according to RFI.

___

Associated Press writers Rukmini Callimachi in Dakar, Senegal, and Moustapha Diallo in Bamako contributed to this report.

___

Follow Ganley on Twitter at: www.twitter.com/Elaine_Ganley

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Site repair: Hold that online health application

Written By Unknown on Minggu, 03 November 2013 | 20.25

WASHINGTON — The application page of the troubled health insurance website is offline until Sunday morning.

The Health and Human Services Department says a technology team will be working on HealthCare.gov, so people won't be able to apply or enroll through the site.

That part of the site will be down from about 9 p.m. Saturday to about 9 a.m. Sunday.

The government says people can apply for coverage through the health marketplace call center — 1-800-318-2596. That's available 24 hours a day, seven days a week.

The federal website locked up the day it went live, Oct. 1, and has been cranky since. It's been taken down for maintenance before — usually for a few overnight hours.

The administration has said it's aiming to have HealthCare.gov humming along by month's end.


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Food pantries fear EBT cuts

Local charities are bracing for a boost in requests for help now that almost half a million households in the Bay State that rely on government assistance to feed their families are getting less money thanks to the end of a federal stimulus program.

"Demand will go up," said Jarrett Barrios, CEO of the American Red Cross of Massachusetts, which runs food pantries in Boston and New Bedford. "There's no two ways about it."

About 480,000 Massachusetts households — and 47 million around the country — that receive food stamps via EBT cards saw their benefits cut by about 5 percent after a temporary boost in the federal SNAP program's funding that was part of a 2009 economic stimulus package expired Friday. Even as the unemployment rate has dropped and the economy seems to be slowly rebounding, the number of SNAP recipients has continued to rise, including in Massachusetts.

"We are not in a better place yet," said Barrios. "Lines are already really long."

Melissa Sanchez, 32, of Dorchester, was at the Red Cross' Boston food pantry yesterday, and said the food she gets there helps stretch her monthly benefits. She said her benefits were cut before, and the new cuts only add to her worries.

"It's going to affect a lot of people," said Sanchez. "It's going to affect the economy. There's going to be less jobs, less customers because families can't afford to buy as much."

Benefits, which are distributed throughout the first two weeks of the month, dropped by $36 a month for a family of four.

Barrios said the cut may not seem like much, but it matters a great deal to the families that rely on the benefits. For families, "taking those $40 away means 'do I go without breakfast a couple days a week?'" Barrios said.

Lucinda Rodrigues, 43, of Dorchester, said she just started coming to the food pantry last month.

"I have two kids and what I was receiving before wasn't enough to support my family on a monthly basis," said Rodrigues. "Now the cuts are going to be worse, so I have to come to the charities to put more food on the table."

Anti-poverty agency ABCD also is worried about the cuts' effect on the families it serves.

"They're taking away from people who really can't afford to be taken away from," said John Drew, president and CEO of ABCD.

To make matters worse, winter is fast approaching, and with it comes the need for heat, holiday presents and new coats or boots.

"These cuts going into effect right before Thanksgiving couldn't come at a worse time," Barrios said.

There are continued talks in Congress about additional cuts to the food stamp program, which has more than doubled in cost since 2008 to almost $80 billion a year. Both the House and Senate have passed different versions of a farm bill that includes cuts — $4 billion in the GOP-controlled House bill and a tenth of that in the Democratic Senate's bill.

Colneth Smiley Jr. contributed to this report.


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Expressway’s a parking lot

Construction on a new "MassDot Mobility Hub" is under way, with the first 235 of 432 planned parking spaces below Interstate 93 in the South End slated for substantial completion next month.

The state Department of Transportation is soliciting businesses, real estate developers and others who are interested in renting the parking spaces or operating the lots. The agency is feeling out the market, asking respondents to a nonbinding request for information to name what they're willing to pay per spot.

"MassDOT could task one of its existing parking operators with operating these new spaces, or we could enter into a lease or license with another entity or entities," spokeswoman Sara Lavoie said.

The three lots will be developed on an eight-acre swath under I-93 — from Herald Street to Randolph Street — that's transitioning from industrial to residential and commercial uses. MassDOT previously used the space for construction staging and storage.

"MassDot intends to improve connectivity between the surrounding neighborhoods for pedestrians and bicyclists, improve the ability of the traveling public to shift transportation modes at the facility, and design and construct urban ... enhancements which create a sense of place and encourage additional use of the site," the RFI states. MassDOT is working with neighborhood groups, adjacent developers and the Boston Redevelopment Authority on those enhancements, which could include artistic lighting, murals or art installations.

The Washington Gateway Main Street program secured a $5,000 grant to hire Street Plans Collaborative to lead community efforts, and Normandy Real Estate Partners, which plans a 380-unit apartment complex on Albany Street, has offered $250,000 to enliven the space.

The second phase of the project will include construction of a new pathway connecting the South Bay Harbor Trail to Kneeland Street, a Boston Harborwalk extension along the Fort Point Channel and open space.


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Wrangler windshield wipers have a mind of their own

I have a 2008 Jeep Wrangler that has a weird problem with the windshield wipers. When I shut the Jeep off the wipers are tucked down in the normal "park" position, yet most of the time when I return the wipers are up about a third of the way up the windshield. This happens during short stops and overnight in the garage even on days when I don't even use the wipers. It has happened much more in the past two years. Otherwise the wipers act normal. What's going on?

Could your Jeep be "Christine" in disguise? When I read through the Alldata service information covering the front wipers on your vehicle, I was stunned by the system's complex electronics. Yet the wipers provide the exact same functions as older-generation electromechanical systems.

In your vehicle, when the wipers are engaged, the SCM (steering control module) sends a signal to the EMIC (electro-mechanical instrument cluster) over an LIN (local interface network) data buss to the TIPM (totally integrated power module) over the CAN (controller area network) data buss requesting the appropriate wiper and washer system operating modes.

Did you follow all that? The answer is a scan tool to search for DTC fault codes in the front wiper system.

Chrysler did issue a recall on the wiper motor of certain 2008 Jeep Liberty models, but there are no specific recalls or service bulletins on the Wrangler. With that said, I'd try disconnecting and cleaning the wiper motor electrical connector. The motor and connector are located under the cowl at the base of the windshield.

If no fault codes are found and cleaning the connector doesn't help, I'd suggest living with the issue until symptoms are more severe.

I'm having a problem with the ignition, or more specifically the keys, on my 2007 Saturn Vue. The keys are being worn down to the point they no longer work, which forces me to get a new key made. The key does not have a microchip so I got smart and had a local locksmith make several copies costing a few dollars each. My key surplus is now down to one. I fear being stranded, as I travel a lot and I'm never quite sure when a key will finally be worn down and not work. I thought about replacing the ignition with a push button start, but was turned away by the cost. Do you have any suggestions for long-term fixes to this problem?

GM/Saturn service bulletin 06-02-016C dated October 2007 describes how a lack of lubrication in the ignition lock cylinder can lead to wear of metal surfaces and bind the cylinder. I suspect this is what's happened to your vehicle, thus the "fresh" keys are only a Band-Aid fix. The bulletin describes a disassembly/lube process requiring two different lubricants which may fix the problem.

But I can't help but notice that a replacement lock cylinder costs about $70 and takes about 30 minutes to replace. Seems like a simple fix to me.

My 2004 Honda Odyssey was hit about four years ago on the left front and repaired. After the accident it developed a loud, whining sound when I go over 65 or 75 mph. It happens intermittently and can last 20 or more miles, then stop. I have used, you guessed it, duct tape all over the front to stop the wind noise but nothing works.

Have you tried taping down the plastic cowl at the base of the windshield? This was the cause of a loud and annoying whine/buzz that occurred intermittently at highway speed on a Corvette I bought several years ago. Also, if your vehicle is fitted with a roof rack, check for gaps in the rubber inserts for the roof rack crossbars. If the rack was damaged or removed for repair, gaps in these inserts can generate significant noise.

Paul Brand, author of "How to Repair Your Car," is an automotive troubleshooter, driving instructor and former race-car driver. Readers may write to him at: Star Tribune, 425 Portland Ave. S., Minneapolis, Minn., 55488 or via email at paulbrand@startribune.com. Please explain the problem in detail and include a daytime phone number. We cannot provide personal replies.


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EBay says sorry for Holocaust items on site

LONDON — Online auction site eBay has apologized after a newspaper found apparent Holocaust memorabilia, including the clothes of concentration camp victims, being offered for sale.

Britain's Mail on Sunday newspaper said items included shoes and a suitcase from concentration camp prisoners, Star of David armbands that Jews were forced to wear and the alleged uniform of a Polish baker who died in Auschwitz.

EBay said it had removed 30 items from the site and donated 25,000 pounds ($40,000) to a suitable charity.

The company said in a statement that "we don't allow listings of this nature, and dedicate thousands of staff to policing our site and use the latest technology to detect items that shouldn't be for sale. We very much regret that we didn't live up to our own standards."


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