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5 things to know: Obama health law again in play

Written By Unknown on Rabu, 31 Desember 2014 | 20.25

WASHINGTON — New episodes in the nation's long-running political drama over health care are coming via your news feed in 2015.

The fate of President Barack Obama's health care law again hangs in the balance as the Supreme Court weighs another legal challenge to the program, now covering millions of people. And a Republican-led Congress prepares for more votes to repeal the Affordable Care Act, ignoring threatened vetoes by the president.

Five things to know about health care in the year ahead:

THE MAIN EVENT

The biggest health care news of 2015 probably won't come from Congress or the White House, but the Supreme Court. The court has agreed to hear another lawsuit that goes to the heart of Obama's strategy for providing health insurance to people who can't get coverage through their jobs. The case will be argued early in March, with a decision expected late in June.

The plaintiffs contend that the law as written only allows the government to subsidize coverage in states that have set up their own their own health insurance markets, or exchanges. With Washington currently running the markets in 37 states, much of the law's coverage expansion could unravel if the Supreme Court agrees.

It would be a moment of truth for the law's opponents and its supporters alike.

DOES ANYBODY HAVE A PLAN B?

If the Supreme Court rules against Obama, both sides would need a fallback plan, and quickly.

Opponents of the health care law would face the prospect of more than 4 million people losing federal subsidies that cover about 75 percent of their premiums. Most of those consumers would wind up uninsured again, and presumably none too happy.

The president would have to contemplate going hat-in-hand to the Republican leadership of Congress to ask for fixes to his signature legislation, possibly opening up other contentious issues in the law.

Republican governors and state legislators would have a choice, too. They could establish insurance exchanges, or watch many of their constituents lose coverage.

REPEAL-A-THON

With the Senate and the House both under Republican leadership, expect dozens more congressional votes to repeal "Obamacare," whether in whole or in part.

It's not clear that full repeal can get through the Senate, where Democrats retain sufficient strength to block legislation by using procedural maneuvers.

But some provisions of the law are also unpopular with significant numbers of Democrats, and bills to roll those back may emerge from Congress. Examples: a requirement that 30 hours per week counts as fulltime employment, a tax on medical device manufacturers, and a Medicare cost control board.

THOUGHT HEALTH CARE WAS COMPLICATED? TRY TAXES

Obama's health care law uses the income tax system to deliver carrots and sticks.

The subsidies that have made premiums affordable for millions are distributed as tax credits. And the penalties imposed on those who ignore the law's mandate to get health insurance are collected as additional taxes.

In 2015, the law's connection to the tax system will become clearer for most people.

All taxpayers will have to report on their 2014 tax return whether or not they had insurance.

Those who got subsidies will have to show they got the right amount. If they received too much, their refunds will get dinged.

Those who remained uninsured will either have to pay the taxman, or show that they qualify for an exemption.

Tax preparation companies are expecting lots of new business.

HOW MANY COVERED, ANYWAY?

At last count, about 6.7 million people got private coverage through the insurance exchanges in 2014. Another 9.7 million got on Medicaid, the insurance program for low-income people, expanded under the law by more than half the states.

Some of those people would have switched from other coverage.

Still, the number of uninsured Americans has dropped significantly — by more than 10 million people as of mid-2014. While the economic recovery doubtless contributed, Obama's law does seem to be delivering on a core promise.


20.25 | 0 komentar | Read More

Apple devices dominate at christmas

The holidays were filled with a lot of Apples lighting up for the first time.

Mobile devices made by Apple accounted for 51% of the devices being activated around the world on Dec. 25, according to Yahoo-owned research firm Flurry. The iPhone 6 was the No. 1 device.

Samsung came in second with 18%, followed by Microsoft's Nokia unit at 5.8%. Sony and LG trailed at 1.6% and 1.4%, respectively.

In other words, for every Samsung device that was activated, Apple activated 2.9 devices.

Apple is expected to sell 71.5 million iPhones during the fourth quarter, according to KGI analyst Ming-Chi Kuo, 40% more than the 51 million iPhones sold in the last quarter of 2013. Apple sold more than 10 million iPhones during the first three days of the release of the iPhone 6 and iPhone 6 Plus in September, a record for the company.

In comparison, Samsung sold 12 million Galaxy S5 smartphones in its first three months of release, off 4 million from when the S4 was launched, analysts say. Overall, it's sold 40% fewer S5 units than it expected, with China, in particular, accounting for much of the decline as rivals there take a larger percentage of the business.

Christmas Day typically marks the time when more new mobile devices are activated than any other time on the calendar.

The same is true for apps, with more software purchased for devices on the day, Flurry said, which makes sense, given that consumers are looking for software to put on their new hardware.

This year was no different.

Flurry, which tracks more than 600,000 apps, found that app installs increased 2.5 times the number on an average day in the first three weeks of December.

The firm also found that larger screens are also becoming more popular.

Apple recently released the iPhone 6 Plus, with a 5.5-inch screen, while Samsung has the 5.7-inch Galaxy Note 4 in the phablet category -- devices with larger screens that fall in between a smartphone and a tablet.

In the week leading up to Christmas, 13% of new device activations were phablets, compared to just 4% in 2013.

Overall, the findings are notable, given how consumers are spending more time accessing entertainment on mobile devices.

In fact, 2014 marked the first time that more time was spent watching a smartphone or tablet than a television.

The time consumers spend on mobile devices has grown to 2 hours and 57 minutes -- up 9.3% -- topping the time spent watching TV, which has remained flat at 2 hours and 48 minutes daily, according to the US Bureau of Labor Statistics.

The Christmas numbers are also notable for Apple, given that its iOS operating system trails Google's Android around the globe. Android devices made up 84% of the smartphone sales in the third quarter, according to IDC, versus nearly 18% for iOS. For tablets, Android powered 68% of tablets, versus iOS at 28%.

The new iPhone 6 and iPhone 6 Plus were the first smartphones Apple released worldwide.

©2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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France drops its super tax on millionaires

PARIS — It was supposed to force millionaires to pay tax rates of up to 75 percent: "Cuba without the sun," as described by a critic from the banking industry. Socialist President Francois Hollande's super tax was rejected by a court, rewritten and ultimately netted just a sliver of its projected proceeds. It ends on Wednesday and will not be renewed.

And that critic of the tax? He's now Hollande's economy minister, trying mightily to undo the damage to France's image in international business circles.

The tax of 75 percent on income earned above one million euros ($1.22 million) was promoted in 2012 by the newly-elected Hollande as a symbol of a fairer policy for the middle class, a financial contribution of the wealthiest at a time of economic crisis.

But the government was never able to fully implement the measure. It was overturned by France's highest court and rewritten as a 50 percent tax paid by employers.

Faced with a stalling economy and rising unemployment, the government reversed course in 2014 with a plan to cut payroll taxes by up to 40 billion euros ($49 billion) by 2017, hoping to boost hiring and attract more investments.

All the while, Prime Minister Manuel Valls kept repeating his new credo: "My government is pro-business".

Ultimately, while the super tax affected only a small number of taxpayers, it triggered huge protests in business, sporting and artistic communities.

French actor Gerard Depardieu decried it vociferously and took Russian citizenship. Soccer clubs threatened to boycott matches for fear that 114 of their players or coaches would be taxed. The final version of the tax allowed them to minimize the burden.

The announcement of the 75 percent tax had "a very bad psychological effect" in business circles, says Sandra Hazan, a lawyer who heads Dentons Global Tax Group. Even if most of the companies were able to minimize or avoid the tax, "I think it had an extremely devastating impact on the attractiveness of France for foreigners."

At the time of its proposal, British Prime minister David Cameron ironically proposed to "roll out the red carpet" to French companies willing to avoid the tax.

Economist Thomas Piketty, author of the book "Capital in the Twenty-First Century", criticized it as "a millstone around the neck" of the government, asking instead for global reform of tax laws.

Proceeds from the tax are estimated to total 420 million euros ($512 million) for about 1,000 employees in 470 companies, according to the government. By comparison, France's budget deficit has soared well over 80 billion euros ($97 billion).


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'American Sniper' tops this week's TV ad spend

In this week's edition of the Variety Movie Commercial Tracker, powered by iSpot.tv, "American Sniper" held the top ad spend position last week, with an estimated $9.8 million spent across 985 national airings on 46 networks, led by MTV and Comedy Central.

Falling to No. 2 was last week's frontrunner, "Unbroken," with an estimated $6.5 million spend spanning 1,620 national airings across 52 networks, led by Cloo and USA Today. But that was it for the list veterans, as the bottom three entries are all newcomers.

In the No. 3 spot this week is the third installment of the "Taken" franchise -- "Taken 3" -- with an estimated $5.9 million spent on 1,045 national spots over 33 networks, led by MTV and Comedy Central. Next is "Blackhat" with an estimated $5.5 million spent on 765 national airing across 40 networks, led by Comedy Central and Spike. "Into the Woods" rounded out the list with a $4.6 million estimated spend on 714 national spots across 31 networks, led by ABC Family and E!

$9.8M - American Sniper

Online Activity: 12.21% within the movie category*

National Airings: 985

Networks: 46

Most Aired On: MTV, Comedy Central

Creative Versions: 17

Est. Lifetime TV Spend: $20.4M

Studio: Warner Bros.

Started Airing: 12/05/14

$6.5M - Unbroken

Online Activity: 2.56% within the movie category*

National Airings: 1,620

Networks: 52

Most Aired On: Cloo, USA Network

Creative Versions: 24

Est. Lifetime TV Spend: $37.3M

Studio: Universal Pictures

Started Airing: 11/20/14

$5.9M - Taken 3

Online Activity: 2.31% within the movie category*

National Airings: 1,045

Networks: 33

Most Aired On: MTV, Comedy Central

Creative Versions: 13

Est. Lifetime TV Spend: $11M

Studio: Twentieth Century Fox

Started Airing: 12/08/14

$5.5M - Blackhat

Online Activity: 1.24% within the movie category*

National Airings: 765

Networks: 40

Most Aired On: Comedy Central, Spike

Creative Versions: 8

Est. Lifetime TV Spend: $8M

Studio: Universal Pictures

Started Airing: 11/20/14

$4.6M - Into the Woods

Online Activity: 4.01% within the movie category*

National Airings: 714

Networks: 31

Most Aired On: ABC Family, E!

Creative Versions: 40

Est. Lifetime TV Spend: $20.3M

Studio: Walt Disney Studios

Started Airing: 11/12/14

1 Movie titles with a minimum spend of $100,000 for airings detected between 12/22/2014 and 12/28/2014.
* Percent of digital activity captured across online video, social media, and search activity that was stimulated by these movie trailers and measured in comparison to all online activity in the movie category.

Variety has partnered with iSpot.tv, a company that catalogs, tags and measures activity around TV commercials in real time, to bring you this weekly look at what studios are spending to market their movies on TV. Learn more about the iSpot.tv platform and methodology.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Gas explosion at Chinese factory kills 17

BEIJING — A gas explosion at an auto parts factory in southern China killed 17 people and injured 33 others on Wednesday, state media reported.

Three of the injured were in critical condition, the official Xinhua News Agency said.

The Southern Metropolis Daily said witnesses heard three blasts at the Fuhua Engineering and Manufacturing Co. factory in Foshan city. The blasts destroyed the facility's walls and ceiling and also damaged a nearby glass factory and other plants.

Pictures on the newspaper's website showed panels blown off the building's structure and people lying injured on the ground. Xinhua said the factory was closed for cleaning at the time of the blast.

Officials were investigating the cause of the explosion, it said.


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Developer serves up plan for building behind Back Bay tennis club

Written By Unknown on Selasa, 30 Desember 2014 | 20.25

Developers are proposing a 10-story mixed-use, glass-faced building that would rise above a 1902 Beaux Arts building on Boston's Boylston Street, across from the Hynes Convention Center.

The $40 million project by Boston-based Hamlen Co. would replace an existing 18-space parking lot behind 927-939 Boylston St. and build upon what's considered an original building in the Back Bay neighborhood, according to documents filed with the Boston Redevelopment Authority. It would include 15 residential units, two ground-floor retail spaces, a second level of shell office or educational space and a new enclosed parking garage with 35 spaces.

"The proposed project will create much-needed housing and retail space in the Back Bay neighborhood in a manner that is consistent with and complimentary to the existing architecture and character of the neighborhood," the project developers said in a letter submitted to the Boston Redevelopment Authority.

Hamlen's plans include refurbishing the existing classical revival style building at 927-939 Boylston St. that's home to the Boston Tennis and Racquet Club — Boston's oldest athletic and social club. Residents of the proposed project would have access to the club's fitness facilities, food service, social areas and meeting space. The existing building also houses Berklee College of Music facilities, including its student-run Cafe 939 music venue and coffee house.

The project still must be vetted by the Neighborhood Association of the Back Bay's Architectural Committee and the Back Bay Architectural Commission in addition to the BRA.


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Chipotle apologizes for NY worker's police protest

NEW YORK — Two Chipotle chief executives have apologized to New York City police officers who were greeted by a restaurant employee making the "hands up, don't shoot" gesture popular with protesters.

Co-Chief Executive Officers Steve Ells and Monty Moran said in a statement Monday that the employee's action appeared to be spontaneous. They said it happened at one of their Brooklyn restaurants on Dec. 16 when a group of nine police officers entered. They said the officers were not refused service, but chose to leave after encountering the gesture while in line.

The executives said appropriate actions had been taken toward the crew member after the Denver-based Chipotle Mexican Grill Inc. reviewed video footage from security cameras. They said they could not discuss what actions were taken.


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Making their Fort Point: Group to brand Southie district

Fort Point residents, businesses and property owners are backing a branding campaign that celebrates the historic South Boston neighborhood's waterfront location, industrial warehouse buildings, artists and growing number of companies and hot restaurants.

The first step calls for a five-year, $50,000 streetlight banner initiative highlighting Fort Point, which encompasses about 55 acres in the broader South Boston Seaport District area that's taken on the city-coined Innovation District name in recent years.

The goal is to give Fort Point a "sense of place," said Rachel Borgatti, executive director of the Friends of Fort Point Channel.

The branding is intended to reflect Fort Point as those who live and work there see it — a thriving neighborhood with artists, restaurants, businesses, industry and amazing architecture, said Gabrielle Schaffner, a 25-plus-year Fort Point ceramic artist.

"There was time when you said you lived in Fort Point, and nobody knew where you were," she said. "The Innovation District is not just Fort Point. That's something that came about without input from Fort Point — that was just decided by the mayor's office ... or the (Boston Redevelopment Authority)."

The Boston Wharf Co. developed Fort Point starting in the 1830s. It has the city's "largest, most cohesive and most significant" collection of late-19th and early-20th century industrial loft buildings, according to the city's Fort Point Channel Landmark District Commission. Artists began moving there in the 1970s, and it's recognized as one of New England's largest artist communities.

Fort Point's Stoltze Design was selected from 14 companies to design the banners. "We want to project the fact that (Fort Point) has these historic buildings, a sense of history and a lot of culture, but also it's a very contemporary area and has a lot of innovative things happening," said founder Clif Stoltze, who's lived in Fort Point for more than 30 years.

The banners include plays on phrases that include the word "point." "Point After" banners with a wine glass and bottle signify after-work options such as restaurants and nightlife spots in the neighborhood, while "Point of View" banners with an easel refer to the artist community. "Point of Purchase" banners are a nod to growing retail options.


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Alert issued after likely HIV porn set infection

LOS ANGELES — California public health officials issued an alert Monday after finding "very strong evidence" that an adult film actor became infected with HIV as a result of unprotected sex on an out-of-state film shoot.

The Department of Public Health said the male actor tested positive for the virus that causes AIDS after engaging in unprotected sex with several other male actors during two separate film shoots. He had tested negative before the shoot.

"During the second film shoot, he had symptoms of a viral infection," the alert states. "The actor went to a clinic and had another blood test that showed he had recently become infected with HIV."

One actor from the second shoot has since tested positive for HIV. According to the health department, lab results indicate the first actor who tested positive "probably transmitted" HIV to the second.

A health department official was unable to immediately release further details regarding the lab testing and investigation. The alert notes that very early in an HIV infection, the test can be negative "even though the actor really does have HIV."

"In this case, the actor and production company thought he was HIV-negative during filming," the alert states. "Shortly after his negative test, HIV levels in his body rose rapidly to where he could infect other actors through unprotected sex.

A California-based trade group for the adult film industry declined to comment.

A health department official declined to release any information regarding when the transmission had taken place or which company it involved, citing privacy restrictions, but said the apparent transmission occurred in Nevada.

"It's happened before, it's happened now, and it will happen in the future," said Michael Weinstein, president of the Los Angeles-based AIDS Healthcare Foundation. "The big lie the industry has been saying all these years, there are no on-set transmissions, has been proven to be untrue."

The foundation championed an ordinance adopted by Los Angeles County voters in 2012 requiring actors in pornographic films to use condoms. The porn industry has fought the ordinance, saying having actors use condoms would interfere with a film's fantasy element by subjecting viewers to real-world concerns like pregnancy and sexually transmitted diseases.

A federal appeals court recently ruled the ordinance does not violate First Amendment rights.

Several porn companies have moved shoots out of the county over the last two years in response to the ordinance. The number of porn filmmakers applying for permits in LA County has declined sharply, from 485 in 2012 to 40 in 2013.

The last confirmed on-set HIV infection was in 2004. After that, the porn industry adopted monthly testing for a range of STDs. Last year, the industry increased testing to every 14 days after a woman who performs under the name Cameron Bay contracted HIV. Her diagnosis triggered a moratorium on adult film production until all performers who worked with her were medically cleared.


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No health insurance? Penalties to rise in 2015

WASHINGTON — The cost of being uninsured in America is going up significantly next year for millions of people.

It's the first year all taxpayers have to report to the Internal Revenue Service whether they had health insurance for the previous year, as required under President Barack Obama's law. Those who were uninsured face fines, unless they qualify for one of about 30 exemptions, most of which involve financial hardships.

Dayna Dayson of Phoenix estimates that she'll have to pay the tax man $290 when she files her federal return. Dayson, who's in her early 30s, works in marketing and doesn't have a lot left over each month after housing, transportation and other fixed costs. She'd like health insurance but she couldn't afford it in 2014, as required by the law.

"It's touted as this amazing thing, but right now, for me, it doesn't fit into my budget," she said.

Ryan Moon of Des Moines, Iowa, graduated from college in 2013 with a bachelor's degree in political science and is still hunting for a permanent job with benefits. He expects to pay a fine of $95. A supporter of the health care law, he feels conflicted about its insurance mandate and fines.

"I hate the idea that you have to pay a penalty, but at the same time, it helps other people," said Moon, who's in his early 20s. "It really helps society, but society has to be forced to help society."

Going without health insurance has always involved financial risks. You could have an accident and end up with thousands of dollars in medical bills. Now, you may also get fined. In a decision that allowed Obama's law to advance, the Supreme Court ruled in 2012 that the coverage requirement and its accompanying fines were a constitutionally valid exercise of Congress' authority to tax.

In 2015, all taxpayers have to report to the IRS on their health insurance status the previous year. Most will check a box. It's also when the IRS starts collecting fines from some uninsured people, and deciding if others qualify for exemptions.

What many people don't realize is that the penalties go up significantly in 2015. Only 3 percent of uninsured people know what the fine for 2015 will be, according to a recent poll by the nonpartisan Kaiser Family Foundation.

Figuring out your potential exposure if you're uninsured isn't simple.

For 2014, the fine is the greater of $95 per person or 1 percent of household income above the threshold for filing taxes. It will jump in 2015 to the greater of 2 percent of income or $325. By 2016, the average fine will be about $1,100, based on government figures.

People can get a sense of the potential hit by going online and using the Tax Policy Center's Affordable Care Act penalty calculator.

Many taxpayers may be able to get a pass. Based on congressional analysis, tax preparation giant H&R Block says roughly 4 million uninsured people will pay penalties and 26 million will qualify for exemptions from the list of more than 30 waivers.

But it's unclear whether taxpayers are aware of the exemptions.

Deciding what kind of waiver to seek could be crucial. Some can be claimed directly on a tax return, but others involve mailing paperwork to the Health and Human Services Department. Tax preparation companies say the IRS has told them it's taking steps to make sure taxpayers' returns don't languish in bureaucratic limbo while HHS rules on their waivers.

TurboTax has created a free online tool called "Exemption Check" for people to see if they may qualify for a waiver. Charges apply later if the taxpayer files through TurboTax.

Timing will be critical for uninsured people who want to avoid the rising penalties for 2015.

That's because Feb. 15 is the last day of open enrollment under the health law. After that, only people with special circumstances can sign up. But just 5 percent of uninsured people know the correct deadline, according to the Kaiser poll.

"We could be looking at a real train wreck after Feb. 15," said Stan Dorn, a health policy expert at the nonpartisan Urban Institute. "People will file their tax returns and learn they are subject to a much larger penalty for 2015, and they can do absolutely nothing to avoid that."

The insurance requirement and penalties remain the most unpopular part of the health care law. They were intended to serve a broader purpose by nudging healthy people into the insurance pool, helping to keep premiums more affordable.

Sensitive to political backlash, supporters of the health care law have played down the penalties in their sign-up campaigns. But stressing the positive — such as the availability of financial help and the fact that insurers can no longer turn away people with health problems — may be contributing to the information gap about the penalties.

Dayson, the Phoenix resident, says she's hoping her employer will offer a health plan she can fit into her budget, allowing her to avoid higher fines for 2015.

In Des Moines, recent college graduate Moon has held a succession of temporary local and state government jobs that don't provide affordable coverage. The penalties are on his mind.

"When it gets up to $325, I hope I have a career that actually offers me a good health care plan," he said.

___

Associated Press Social Media Editor Eric Carvin contributed to this report.

___

Online:

Tax Policy Center ACA penalty calculator: http://tinyurl.com/mrppjoe

TurboTax Exemption Check: http://bit.ly/1xu9hDl


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Key decisions on drones likely from Congress

Written By Unknown on Senin, 29 Desember 2014 | 20.25

WASHINGTON — The Obama administration is on the verge of proposing long-awaited rules for commercial drone operations in U.S. skies, but key decisions on how much access to grant drones are likely to come from Congress next year.

Federal Aviation Administration officials have said they want to release proposed rules before the end of this month, but other government and industry officials say they are likely to be delayed until January. Meanwhile, except for a small number of companies that have received FAA exemptions, a ban on commercial drone flights remains in place. Even after rules are proposed, it is likely to be two or three years before regulations become final.

That's too long to wait, say drone industry officials. Every year the ban remains in place, the United States loses more than $10 billion in potential economic benefits that drones could provide, according to the Association for Unmanned Vehicle Systems International, a trade group.

"We need some sort of process that allows some of the low-risk operations," said Jesse Kallman, the head of regulatory affairs for Airware, a drone technology company backed by Google Ventures. "I think Congress understands that, and hopefully they'll take steps in the coming year to address that."

That appears to be what some key lawmakers have in mind. "We in Congress are very interested in UAS," Rep. Bill Shuster, R-Pa., chairman of the House Transportation and Infrastructure Committee, said at a hearing this month, referring to unmanned aerial systems, or drones. "We understand UAS are an exciting technology with the potential to transform parts of our economy. ... It is our responsibility to take a close look."

One of the committee's first priorities next year is writing legislation to reauthorize FAA programs and overhaul aviation policy. The bill is expected to include directions from lawmakers on how to integrate drones into the nation's aviation system. The last reauthorization bill, passed in 2012, directed the agency to integrate drones by Sept. 30, 2015, but it's clear the FAA will miss that deadline.

The FAA is expected to propose restricting drones weighing less than 55 pounds to altitudes below 400 feet, forbid nighttime flights and require drones be kept within sight of their operators. Drone operators may also be required to get pilot's licenses, a possibility already drawing fire from critics who say the skills needed to fly a manned aircraft are different from those needed to operate a drone.

Shuster indicated he's concerned that requiring pilot's licenses might be burdensome and unnecessary. And keeping drones within sight of operators would be too strict and limit their usefulness, he said.

The reason for keeping drones within line of sight is that they don't yet have the ability to detect and avoid other aircraft.

AUVSI, the drone industry trade group, recently hired Mark Aitken, former legislative director to Rep. Frank LoBiondo, R-N.J., as its government relations manager. LoBiondo is chairman of the House Subcommittee on Aviation, which will write the FAA reauthorization bill.

"We're really looking at an incremental approach still," Aitken said. "It's not something that is going to happen overnight."

FAA officials have been working on drone regulations for nearly a decade. The agency twice drafted regulations that were later rejected by the White House or Transportation Department. The FAA has long maintained that unmanned aircraft must meet the same regulations as manned aircraft unless waiving or adjusting those regulations doesn't create a safety risk. However, FAA officials more recently have begun talking about "risk-based" regulations, giving industry officials hope the agency might propose a blanket exemption from regulations for the smallest drones — usually defined as weighing under 5 pounds — as long as operators follow a few basic safety rules. Canadian authorities recently approved a blanket exemption for very small drones.

Congress already is getting pushback from private and commercial pilots who worry about possible collisions. The FAA receives reports nearly every day about drones sighted flying near manned aircraft or airports.

"As a (Boeing) 737 captain, I'll be damned if myself and 178 other people are taken down by a 12-pound or a 50-pound or a 150-pound piece of metal coming through my windshield," said Ben Berman at a recent forum hosted by the Air Line Pilots Association. "There are too many near misses occurring every day like this."

Mark Baker, president of the Aircraft Owners and Pilots Association, which represents private pilots, said online videos show that "operators are flying near airports, in the clouds and in congested airspace." He called such actions "reckless" and said they will inevitably lead to a collision.

FAA regulations permit recreational users to fly small drones as long as they stay at least 5 miles away from an airport, limit flights to less than 400 feet in altitude, keep the aircraft in line of sight and fly only during the daytime.

Last week, drone industry trade groups teamed up with the FAA and model aircraft hobbyists to launch a safety campaign aimed at amateur drone operations. The campaign includes a website, www.knowbeforeyoufly.com , where operators can find FAA regulations and advice on how to fly safely. The trade groups said they also plan to distribute safety pamphlets at industry events and are working with manufacturers to see that safety information is enclosed inside the package of new drones.

Retailers say small drones, which are indistinguishable from today's more sophisticated model aircraft, were popular gifts this Christmas.

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Follow Joan Lowy on Twitter at http://www.twitter.com/AP_Joan_Lowy

___

Online:

Drone safety campaign: http://www.knowbeforeyoufly.com


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Russian ruble drops 7 percent as economy shrinks

MOSCOW — The Russian currency extended its losses on Monday after a report showed the economy has started shrinking in annual terms for the first time since 2009 as the country is buffeted by falling oil prices and Western sanctions.

Meanwhile, the government, which has been scrambling to support the ruble and the economy, announced fresh steps to keep the banks afloat.

The ruble has been one of the world's worst performing currencies this year and was down another 5 percent on Monday, trading at 56 rubles per dollar in early afternoon in Moscow, wiping off some of the gains it made last week.

The fall came as the Economic Development Ministry issued a report showing the economy shrank by 0.5 percent in November compared with a year earlier. The ministry attributed the year-on-year decline in the economy, Russia's first in five years, to a sharp drop in manufacturing and investment.

The economy has been buffeted by a combination of lower prices for the country's crucial oil exports and the impact of Western sanctions.

Stabilizing the ruble is a priority for the country's monetary authorities. The Central Bank in past weeks raised its key interest rate to 17 percent and said it will offer dollar and euro loans to banks so they can help major exporters that need foreign currencies to finance operations.

The bank's foreign currency reserve has now dropped below $400 billion for the first time since August 2009, as the government has been selling the currency on the market to support the ruble.

Many Russian companies and banks have been locked out of Western capital markets following the sanctions imposed on the country for its involvement in Ukraine.

The government on Monday announced new steps to prop up the banking sector. Prime Minister Dmitry Medvedev told a government session that he has just signed a decree to provide a total of 1 trillion rubles ($19.6 billion) to Russian banks. The list of the banks and the amount that each of them will receive is expected drawn up by mid-January, according to Deputy Prime Minister Igor Shuvalov.

Shuvalov said the measures should help "the banking sector be more stable in the new circumstances and safeguard it from new shocks if they do occur," he was quoted by Tass.


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Greece heads for early election, stoking financial concerns

ATHENS, Greece — Greece will hold early national elections on Jan. 25, stoking concerns over the future of the country's financial bailout, after lawmakers failed to elect a new president in a third and final round of voting Monday.

The conservative-led coalition government's candidate for the presidential post, 73-year-old former European commissioner Stavros Dimas, garnered 168 votes from parliament's 300 seats — short of the 180 votes needed to win.

According to the country's constitution, parliament must now be dissolved within 10 days. Prime Minister Antonis Samaras said national elections will be held "at the soonest possible date" — Sunday, Jan. 25.

"The country has no time to waste," he said in a televised address just after the presidential vote. "I am here to guarantee that the country continues on a safe course ... so that the sacrifices made and the (economic) recovery are not endangered."

The government's fall — two and a half years into its four-year mandate — comes among deep uncertainty over the debt-ridden country's international bailout. Investors sold off Greek stocks Monday, with the Athens stock exchange's benchmark general index losing 7.3 percent in midday trading, after falling as much as 11.3 percent just after the vote.

Investors are worried that the main left-wing main opposition Syriza, which is consistently ahead in opinion polls, might try to renege on the terms of the bailout deal that is keeping the country afloat.

Syriza has pledged to roll back some of the reforms the country has implemented in order to qualify for billions of euros in rescue funds from other eurozone countries and the International Monetary Fund — although it has recently somewhat softened its rhetoric about unilaterally pulling out of the bailout deal.

"The main opposition party today forced elections," senior conservative lawmaker Dora Bakoyiannis said. "Elections at the worst possible moment for the country's economy."

Syriza leader Alexis Tsipras said Monday's vote marked a "historic day for Greek democracy."

"When the majority of the people is determined to end the policies of the bailout agreements and austerity, then lawmakers can do no else than respond to their duty to keep in line with the will of the people," he said.

"Today Mr Samaras' government, which for two and a half years plundered our society and had already decided and committed to take new measures, belongs to the past," Tsipras added. "With the will of our people, in a few days, the austerity agreements will also belong to the past.


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Vermont Yankee plant prepares to shut down

VERNON, Vt. — The Vermont Yankee nuclear plant is getting ready to shut down.

Its owner, Entergy Corp., says it is closing the plant for economic reasons. The plant in Vernon is expected to disconnect from the regional power grid Monday.

The plant employed more than 600 people when it announced it would close. The workforce will be cut in half after a round of layoffs and retirements Jan. 19.

In 2016, the plant will see another big reduction as it prepares for a 30-year period during which time its radiation will cool. The plant likely won't be dismantled until the 2040s or later.


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Allianz says it's lead insurer for AirAsia plane

BERLIN — Allianz says it is the lead insurance firm for the AirAsia jetliner that went missing off Indonesia with 162 people on board.

The Munich-based reinsurance giant said Monday that its subsidiary Allianz Global Corporate & Specialty UK is the lead insurer for AirAsia, including for liability insurance.

Allianz said in a statement that it is too early to comment on the incident itself, but expressed its support for those affected by it.

An international search is underway to determine the fate of AirAsia Flight 8501, which disappeared from radar Sunday morning over the Java Sea on its way from Surabaya, Indonesia, to Singapore.


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Movie co. hack is the great cyber whodunit

Written By Unknown on Jumat, 26 Desember 2014 | 20.25

LOS ANGELES — Everyone has a theory about who really hacked Sony Pictures Entertainment Inc.

Despite President Obama's conclusion that North Korea was the culprit, the Internet's newest game of whodunit continues. Top theories include disgruntled Sony insiders, hired hackers, other foreign governments or Internet hooligans. Even some experts are undecided, with questions about why the communist state would steal and leak gigabytes of data, email threats to some Sony employees and their families and then threaten moviegoers who planned to watch "The Interview" on Christmas.

"Somebody's done it. And right now this knowledge is known to God and whoever did it," said Martin Libicki, a cyber security expert at RAND in Arlington, Va., who thinks it probably was North Korea. "So we gather up a lot of evidence, and the evidence that the FBI has shown so far doesn't allow one to distinguish between somebody who is North Korea and somebody who wants to look like North Korea."

Perhaps the only point of agreement among those guessing is that even the most dramatic cybercrimes can be really, really hard to solve convincingly. When corporations are breached, investigators seldom focus on attributing the crime because their priority is preventing it from happening again.

"Attribution is a very hard game to play," said Mike Fey, president of security company Blue Coat Systems Inc. and former chief technology officer at McAfee Inc. "Like any criminal activity, how they get away with it is a very early step in the planning process, and framing another organization or individual is a great way to get away with something.


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Booting Up: Sony runs with chance to test new marketing model

Sony Pictures has pioneered a new model for marketing films, bypassing big theaters and instead looking to a startup and streaming services to distribute the movie that sparked an unprecedented North Korean cyber attack.

Reversing its decision to pull the plug on distribution of the satirical comedy "The Interview," which depicts a group of young guys trying to assassinate the North Korean dictator, Sony this week turned to a streaming startup called Kernel, as well as Google and Microsoft, to show the film. (It's nice to know that Google and Microsoft aren't afraid of the North Koreans. Not Apple, which reportedly passed on distributing the movie through iTunes.)

The film costs $5.99 to rent and $14.99 to own an HD copy. The monetary success or failure of this effort will be watched closely by everyone with a stake in live-streaming video.

Kernel runs seethe
interview.com, which is just what it sounds like: a portal for buying and viewing the movie. Kernel was a virtual unknown until a few days ago, but Sony tapped the company to distribute "The Interview" because they were already working on a pilot project with the startup to promote and distribute films differently. Both companies have taken the opportunity to lift the curtain on their project for "The 5th Wave," a screenplay due out in 2016, the first in a series of books about a teenage girl fighting against the end of humanity.

Kernel's role is to pre-sell exclusive, behind-the-scenes content such as bonus downloads, VIP experiences and tickets to "The 5th Wave." Packages go all the way up to $1,000, which includes two tickets to a yet-to-be-scheduled movie premiere.

With an entire subculture of movie buffs, it's a wonder we haven't found a better way than overpriced tickets and popcorn to monetize the industry. Kernel and Sony may be onto something.

YouTube, Google Play and Xbox have all begun distributing "The Interview," along with some small independent theaters such as Apple Cinemas near Fresh Pond in Cambridge.

I got to have my Christmas viewing of "The Interview" after all, and if enough people do the same, Google and Microsoft will become a much more viable option for movie distribution in the future.


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High-end digs dominate Boston in รข€™14

Real estate in Greater Boston this year has been somewhat of a paradox.

The market saw a huge influx of luxury apartment complexes, with high rents and lots of amenities, and construction is under way on some of the city's most expensive condos.

Yet there's been a shortage of inventory, especially mid-priced properties, and sales have slowed. And Boston has yet to solve a major problem — there are not enough condos or apartments that average city dwellers can afford.

Several thousand new luxury apartments — more than any in the city's history — opened this year in areas ranging from the Seaport District to the Greenway to Back Bay. Some of the first wave of high-rent digs, such as the Kensington and 315 on A, leased up well, but others have struggled, offering anywhere from one to three months of free rent, with fears that there may be a glut of upscale apartments on the market.

Looking for rental relief, some have opted to lease in places like Chelsea, where One North over the Mystic Bridge and new apartments in the Box District have done well. In an industrial area of Everett, apartments were carved out of a former Charleston Chew candy factory.

Two new apartment buildings at Assembly Row developed by AvalonBay Communities have leased up well, part of a successful urban village in East Somerville with 40 outlet stores and a dozen restaurants next to a newly completed Orange Line Station.

On the condo side, Boston has seen higher prices but lower condo sales this year because of low inventory, with midpriced units snapped up quickly. Meanwhile, the upper end of the condo market is going gangbusters driven by foreign buyers and local empty nesters. Preconstruction sales at condo projects now going up, such as the Ink Block's Sepia in the South End, Twenty-Two Liberty on Fan Pier and downtown's Millennium Tower have been brisk.

The highest price condo and single family sold in Boston this year were on the same Beacon Street block across from the Public Garden — at 96 Beacon St., a 6,337-square-foot, four-bedroom penthouse condo went for $13 million in March, and 74 Beacon St., a redone 6-bedroom, five-story, single-family townhouse with its own rooftop lap pool, sold for $12.5 million in October.

This year saw the highest price condo ever listed in Boston, a 12,000-square foot penthouse at the Millennium Tower that's asking $37.5 million.

The market in Somerville and Cambridge remains hot, with prices increasing and not enough inventory to meet demand. But the Alewife area of Cambridge saw several new apartment developments this year.

Along the banks of the Charles River in Watertown, several luxury apartment complexes have opened this year, and new rental properties have also sprung up near Orange Line stops in Malden Center and over the Melrose line near Oak Grove.

In the city, East Boston saw the first phase of Portside At East Pier, a luxury waterfront apartment complex.

South Boston real estate stayed hot this year, with dozens of high-end apartment and condo projects opening, a number around West 1st on D Street such as the Flats on D, West Square and Seaport Crossing that helped to knit together the gap between the Seaport District and the West Side.

To spur construction of more housing for moderate-income residents, the city has just designated corridors along Dorchester Avenue between the Broadway and Andrews Red Line T stations in Southie, and around the Forest Hills T station area in Jamaica Plain for higher density, transit-oriented development. But high labor, land and materials costs remain a challenge.

Next week we'll take a look at the real estate prospects for 2015.


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Post-Christmas shopping spree

A perfect post-Christmas shopping storm of blowout sales and gift card mania is brewing, according to retail analysts.

Expect stores and malls across the region and nationwide to be flooded today and parking lots packed as eager buyers hunt for the best deals.

"It's usually in the top 10 shopping days of the year, but I wouldn't be surprised if it cracked the top five this year," said Ken Perkins, analyst at Retail Metrics Inc. in Swampscott, predicting today will be "a very sound day for retail."

Big sales — many stores boasting 60 percent off deals even before Christmas — combined with the popularity of gift cards this holiday season mean big profits for retailers, Perkins said.

Today will cap off an already successful shopping season, Perkins said. The retail scene has been packed with promotions since the beginning of November, and Super Saturday saw $23 billion in sales nationally, surpassing Black Friday's $20 billion this year.

Norwell's Retail Concepts owner Michael Tesler said the plummeting popularity of clothes-centered gifts — a negative for stores going into the holiday season — will be a positive this weekend. It means fewer returns and more competitive sales to clear out lingering merchandise.

"There has been a shift from apparel to things like toys and electronics, which are less likely to be returned," Tesler said. "With the markdowns and sales, you'll see more shoppers than in previous years."

The unseasonably high temperatures in the Northeast will also serve as an "incredible plus," Tesler said, as will the upcoming weekend days.

"You have a Friday, Saturday, Sunday grouping coming up, so a larger percentage of people will probably be free after Christmas than usual," he said. "This is like a Black Friday weekend, everyone's got the time off."

In the week leading up to Super Saturday, retail sales increased 3.1 percent from the same week last year, according to the International Council of Shopping Centers.

The weekend prior to Christmas saw $42 billion in shopping sales, compared to $41 billion last year, according to research firm Customer Growth Partners.

According to Perkins, lower unemployment numbers across the country help to account for some of the shopping boom, particularly in more affluent areas like Boston.

Massachusetts shopping numbers going into Super Saturday weekend pointed to the best Christmas for state retailers since 2006, according to Jon Hurst, president of the Retailers Association of Massachusetts, which expects statewide holiday sales to climb 3.9 percent to $15.4 billion.


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Sony says online PlayStation disrupted

TOKYO — Sony's online PlayStation store and Microsoft's Xbox site suffered disruptions to users on Christmas Day in the latest possible cyber-attacks on the companies.

The PlayStation Store Twitter feed said Friday that some users were having trouble logging into its network. It said engineers were investigating.

A notice on Microsoft's Xbox website said it knew some users were having trouble signing in. it said, "We're aware of this issue, and we're working to find a fix ASAP!"

The problems were affecting Xbox Live Core Services, though most other applications were up and running, it said.

Earlier this month the PlayStation store also experienced spells of inaccessibility. That followed a cyberattack on computer systems of Sony Pictures Entertainment that led to the release of confidential information on the Internet.

A hacker group calling itself Lizard Squad appeared to take responsibility for the disruptions on its Twitter account.


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Honda recalls 1,252 Crosstours over side air bags

Written By Unknown on Kamis, 25 Desember 2014 | 20.25

NEW YORK — Honda is recalling 1,252 Crosstour vehicles due to a faulty side air bag made by troubled air bag supplier Takata.

The Honda recall is for 2015 model year Crosstours. The National Highway Traffic Safety Administration says the side air bag may not inflate properly because of a problem with its inflator tube. Crosstour owners will receive a letter in the mail asking them to take their car to a Honda dealer and have the side air bags replaced free of charge.

Honda said no injuries were reported. Takata Corp. declined to comment.

Takata, a Japanese air bag maker, is at the center of massive recalls around the world. Several automakers have recalled vehicles with air bags made by the company because they can explode and send shards flying at drivers and passengers. In response to the recalls, Takata on Wednesday apologized to those killed or hurt by its faulty air bags and announced it was reshuffling its executives.


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Sony tries to save face with 'Interview' flip-flop

ATLANTA — Sony's flip-flop on releasing "The Interview" shows the studio is working furiously to try to chart the right course through political and public-opinion minefields.

Although analysts don't believe the decision will have any effect on Sony's image, it will at least give the movie-going public a chance to vote with their wallets and send North Korea a protest message.

Last week, Sony canceled the Christmas Day release of "The Interview" in the wake of an extensive hacking attack and release of confidential emails by a group linked with North Korea. The movie stars Seth Rogen and James Franco as journalists tasked by the CIA with killing North Korean leader Kim Jong Un. The hackers threatened violence if Sony didn't pull the movie. Sony did so after major theater chains decided not to screen it.

But the company then wavered in the face of public outcry and criticism from President Barack Obama. On Tuesday, Sony Entertainment CEO Michael Lynton said Seth Rogen's North Korea farce "will be in a number of theaters on Christmas Day."

The film is set to open in over 200 theaters, down from an original release planned in 3,000. Atlanta's Plaza Theater and 16 theaters that are part of the Alamo Drafthouse chain in Texas are among those that plan to show it.

Lynton said Sony also is continuing its efforts to release the movie in more theaters and through more platforms — namely digital channels, such as Internet streaming or video on demand on cable systems. But Sony isn't offering specifics. Starz, which has first pay TV and streaming rights to Sony releases, didn't respond to requests for comment. Streaming service Netflix declined comment, while YouTube didn't respond to requests.

Plaza Theater owner Michael Furlinger said he was thrilled to be showing the movie. He canceled plans to fly to Long Island, New York, to see his parents for the holidays.

"We play a lot of controversial pictures, things I don't necessarily agree with, but I will never censor them," he said. "It's not for me to decide. It's for the customer to decide. If they want to come, they'll spend their money. If they don't, that's their choice. It should not be the choice of somebody from North Korea or China or anywhere else."

Atlanta Police spokesman Sgt. Greg Lyon said police will monitor the location for potential threats, but he wouldn't discuss specifics. Furlinger said the theater will take some precautions, though he said he wasn't worried about the threats.

If anything, the controversy has raised awareness about the movie. Although fewer theaters are showing it, those theaters might be more packed than they would have been otherwise.

Anthony LoRusso, 54, of Atlanta, thought the premise of the movie was "silly" and initially planned to wait for the DVD. Now, he plans to see it at The Plaza.

Colby Cohen, 29, of Atlanta said he probably would have seen it anyway, but the brief cancellation made him want to see it more.

"I'm going to get to fight terrorism on Christmas Day now," he said.

Because Sony has been wavering on its release of "The Interview" since last week, deciding to release it after all should not have a major effect on its image. Laura Ries, president of Atlanta-based branding consulting company Ries & Ries, said most moviegoers don't tie movies with the studio that makes them in the first place.

If Sony ends up expanding the theatrical release and sells the movie through digital channels, it could end up recouping some of its box offices losses. Doug Stone, president of film industry newsletter Box Office Analyst, had estimated domestic box office for the movie would be $75 million to $100 million, of which Sony keeps about 55 percent. But the release is too limited so far to give Sony much of a financial bump.

Furthermore, costly damage from the email leaks to relationships and future projects cannot be recouped, and there is a threat of more leaks as Sony plans on releasing the film now.

"Panic-based decisions are not sound crisis management," said Jonathan Bernstein, president of Los Angeles-based crisis management company Bernstein Crisis Management. The studio is making decisions too quickly and could face more embarrassment if hackers leak additional documents and emails in retaliation for showing the movie, he said. He said Sony should have waited until it is sure it can protect itself.

Still, moviegoers seemed enthusiastic Tuesday. Isaac Sokol, a 21-year-old university student in the Dallas suburb of Richardson, bought two tickets for a Christmas night show at the Alamo Drafthouse theater in Richardson.

"The only way to tackle world conflicts and human rights violations and all of the dreaded things around the world is to take them with a grain of salt," he said. "If you don't, it's going to just be sadness."

The Alamo Drafthouse said many showtimes across the chain were selling out for Christmas Day, but the company did not provide specifics.

Once James Wallace, the Richardson theater's creative manager, received word Tuesday morning that the movie was back on, the theater got to work preparing for several shows. Among other touches, the theater will offer a patriotic menu featuring burgers, "freedom fries" and apple pie.

"You better believe it's going to be all-American," Wallace said.

___

AP Film Writer Jake Coyle in New York and AP writers Kathleen Foody in Atlanta, Nomaan Merchant in Dallas, Joseph Pisani in New York and Michael Liedtke in San Francisco contributed to this report.


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Mayor Marty Walsh makes Dorchester tour

It was a merry Christmas Eve day in Dorchester yesterday as the mayor and police commissioner went on a goodwill tour of businesses.

The event began with a gathering at the Teen Center at St. Peter's where neighborhood kids received presents from police and seasons greetings from community leaders including Mayor Martin J. Walsh, police Commissioner William B. Evans and state Rep. Evandro C. Carvalho.

Walsh and police officers then took to Bowdoin Street towards Geneva Avenue to shake hands and wish happy holidays to shoppers along the boulevard.


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Single-family home sales fall in Nov.

Single-family home sales fell last month while the median price rose, particularly in Greater Boston, driven by a continuing shortage of inventory, according to the Massachusetts Association of Realtors.

Statewide, the number of closed sales dropped by 6.7 percent, from 3,817 in November 2013 to 3,560 last month, while the median price increased 4.4 percent, from $316,000 to $330,000 over the same period, MAR statistics show.

Condominium sales fell even more precipitously — by 10.2 percent — from 1,494 to 1,342, but the median price increased only 1 percent, from $299,000 to $302,000.

"Both the falling numbers of sales and the increasing median prices are a reflection of low inventory," said MAR President Peter Ruffini. "There's a lack of affordable housing for first-time buyers. It's very rare to see new construction priced at under $400,000. That's simply not a viable price point for most people looking to enter the housing market."

In the Metro Boston area, the median selling price for a single-family home rose even more dramatically — by 9.4 percent, the largest percentage increase since April — from $480,000 in November 2013 to $525,000 last month, the highest median home price ever recorded for November in the area, according to the Greater Boston Association of Realtors.

"Even at these prices, what is available is being jumped on pretty quickly," said Michael DiMella, the association's president and managing partner of Charlesgate Realty Group in Boston. "We're still seeing some multiple offers and bidding wars, although not as much."


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Quincy residents to be left with emergency facility only

The long-struggling Quincy Medical Center will permanently close its doors tomorrow, leaving Quincy residents without an official health facility sooner than originally planned, which could spur legal action from the Attorney General's office.

"Because of significant declines in patient volume, the department has determined that this closure timeline is necessary and appropriate to protect the health and safety of patients served by QMC and the department waives the remainder of the 90-day closure notice period," Department of Public Health official Sherman Lohnes wrote Tuesday in a letter to QMC owner Steward Health Care System.

Hospitals are obligated to give 90 days' notice before closing, which would have required the medical center to stay open until February if DPH had not waived the requirement.

The for-profit company previously agreed in a contract with Attorney General Martha Coakley to keep the 196-bed center open until at least 2017, and Coakley's office has raised the possibility of taking legal action if the hospital's emergency services did not stay open past Dec. 31.

Although AG spokesmen declined to specifically comment on whether that still may be in the cards, talks with Steward were said to be ongoing.

"We have made clear that any efforts to close Quincy Medical Center must maintain emergency services beyond Dec. 31," said Brad Puffer, spokesman for Coakley. "This is an important step in that process and we are continuing our discussions with Steward."

According to a press release, Steward QMC will close at 11:59 p.m. tomorrow, and the Steward Satellite Emergency Facility will officially open at midnight.

Steward said it will keep the emergency facility open until Dec. 31, 2015, through Carney Hospital's license.

The center has been fraught with financial woes and a dwindling patient base for several years.

But the closing of the center leaves Quincy residents without a hospital and the center's health care workers in employment limbo.

Brooke Thurston, a spokeswoman for Steward, said many of the center's employees will be paid and receive benefits through Jan. 6, and that a majority will be transferred into new positions within the Steward network.


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Bitcoin now available at local stores

Written By Unknown on Rabu, 24 Desember 2014 | 20.25

You can now pick up some bitcoin with that bottle of soda and bag of chips at the store down the street.

LibertyX, a company that originally made and operated bitcoin vending kiosks, has expanded to let any store sell bitcoin for cash at the register, just like anything else they have in stock.

"You hand over cash, you get a code," said Kyle Powers, co-founder of LibertyX, formerly known as Liberty Teller. A cashier gives the customer a pin number, which can be redeemed for bitcoin. LibertyX is working with 2,500 stores, mostly local businesses including convenience and computer stores, across the country in the obvious places — Cambridge and San Francisco — and some less obvious, such as Lowell and Missoula, Mont.

The move away from dedicated ATMs that sell bitcoin came from overwhelming demand, Powers said.

"We had people driving for hours," Powers said. "The whole thing was to reach areas that we couldn't otherwise."

The ATMs are still operational, including the one at South Station.

"We're doing the same thing (as the ATMs), just cheaper, faster, more convenient," Powers said.

To help LibertyX expand, the company has raised a little more than $400,000 in private investment. Project 11, the venture capital firm headed by Katie Rae, Reed Sturtevant and Bob Mason, formerly of TechStars Boston, led the investment.

Powers said much has been made of bitcoin's ups and downs, but he continues to have faith in the online currency.

"Bitcoin is like gold, except the market is a thousand times younger" he said. "What we're doing is a fundamental, foundational piece of the bitcoin ecosystem."


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Single-family home sales fall in Nov.

Single-family home sales fell last month while the median price rose, particularly in Greater Boston, driven by a continuing shortage of inventory, according to the Massachusetts Association of Realtors.

Statewide, the number of closed sales dropped by 6.7 percent, from 3,817 in November 2013 to 3,560 last month, while the median price increased 4.4 percent, from $316,000 to $330,000 over the same period, MAR statistics show.

Condominium sales fell even more precipitously — by 10.2 percent — from 1,494 to 1,342, but the median price increased only 1 percent, from $299,000 to $302,000.

"Both the falling numbers of sales and the increasing median prices are a reflection of low inventory," said MAR President Peter Ruffini. "There's a lack of affordable housing for first-time buyers. It's very rare to see new construction priced at under $400,000. That's simply not a viable price point for most people looking to enter the housing market."

In the Metro Boston area, the median selling price for a single-family home rose even more dramatically — by 9.4 percent, the largest percentage increase since April — from $480,000 in November 2013 to $525,000 last month, the highest median home price ever recorded for November in the area, according to the Greater Boston Association of Realtors.

"Even at these prices, what is available is being jumped on pretty quickly," said Michael DiMella, the association's president and managing partner of Charlesgate Realty Group in Boston. "We're still seeing some multiple offers and bidding wars, although not as much."


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The Ticker

Pier 4 owner cashes out

Pier 4 master developer New England Development has cashed out of the 1-million-square-foot South Boston waterfront project, selling 130 and 140 Northern Ave. to the deeper-pocketed Tishman Speyer, the New York owner of properties including Rockefeller Center, Chrysler Center and Yankee Stadium.

The Newton company sold the two Seaport District parcels, which had been slated for an office building, a separate condominium building and waterfront public park, for $70 million, according to Registry of Deeds documents filed yesterday.

New England Development executives could not be reached for comment. Tishman Speyer, which also owns 125 High St. and One Federal St. in Boston, declined comment, but is expected to move faster with the development of the two parcels.

New Balance seeks sneaker design ruling

Boston's New Balance has filed pre-emptive court action against Massachusetts rival Converse to protect its ability to continue selling its 77-year-old PF Flyers brand of sneakers.

The federal lawsuit follows the North Andover-based Converse's October trademark infringement lawsuits against Wal-Mart Stores Inc., H&M, Skechers, Ralph Lauren and 27 other retailers and companies for allegedly knocking off the design of its iconic Chuck Taylor All-Star sneakers that date to 1917.

New Balance, which wasn't included in that round of lawsuits, is asking for a U.S. District court ruling that its PF Flyers don't infringe on Converse's trademark and that Converse doesn't have exclusive rights to use the design.

"Converse brought its case to the International Trade Commission to prevent consumer confusion, to protect its legitimate intellectual property rights, and to stop the sale of knockoff Chucks, all of which remain unchanged," Converse said in a statement.

Quincy hospital to close midnight Friday

The Department of Public Health yesterday signed off on the proposed closure of Quincy Medical Center, set for midnight Friday.

Steward Health Care, the owner of the hospital, said Quincy Medical will halt operations Dec. 26, at 11:59 p.m., with a satellite emergency facility set to open in the same location at 12 a.m. on Saturday, Dec. 27.

Steward said that Quincy Medical, as of yesterday, no longer has any inpatients.

Local elected officials have criticized Steward for the speed with which the for-profit company has moved to close the hospital after it claimed in November that it suffered financial losses and a decreasing number of patients at the Quincy hospital.

Cornerstone Pub to be redeveloped

The Cornerstone Pub and Restaurant in South Boston will soon be history as a developer has filed a project notification form with the city to build a mixed-use development on the 14 West Broadway site. The Southie landmark, which sits across from the Broadway T station, will be razed and replaced with a complex that would include 47 residential units, commercial and retail space, a ground-floor restaurant and garage parking.

THE SHUFFLE

Emmanuelle Debouverie has joined Boston-based criminal defense firm Rankin & Sultan as an associate. Debouverie was previously an associate at Clifford Chance.


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Record Dow, U.S. growth spurs biz, consumer hopes

Business is booming again, the economy is going "gangbusters" and there's no end in sight, as even recession-weary economists are taking heart from yesterday's record high Dow and a revised report showing the biggest quarterly growth in the U.S. in more than a decade.

"This market is on a tear. There's momentum in place that will continue. All good things are happening right now," said Christine Armstrong, a senior vice president at Morgan Stanley in Boston.

"We have kicked and clawed and scratched our way to these record highs," Armstrong said. "We don't have anything that's taking our focus away from what's a good, solid, strengthening economy that looks good in the future as well."

The Dow closed at an all time high of 18,024.17, up 0.36 percent, after the government revised gross domestic product growth in the July-September third quarter to a whopping
5 percent — the largest quarterly gain since the summer of 2003. The GDP was revised upward from 3.9 percent.

"The higher numbers instill greater consumer or business confidence to add some credence to the durability and sustainability of the recovery," said Doug Handler, chief U.S. economist for IHS Global Insight. "It was really gangbusters."

The Standard and Poor's 500 index also posted a record high — its 50th record high this year, according to Armstrong.

The third-quarter growth came on the heels of 
4.6 percent growth in the GDP in the April-June second quarter.

"The revisions were reflective of a stronger consumer, and more business investment," said Lindsay Piegza, chief economist of Stern Agee, in a research note. "In a word, wow!"

The Commerce Department yesterday also reported that consumer spending increased 0.6 percent in November, the most in three months, and income rose 0.4 percent, the biggest gain in five months. Consumer spending accounts for 70 percent of the GDP, so that increase is likely to contribute to strong economic growth in the fourth quarter.

"It's pointing to a better fourth quarter than anticipated," said Handler. "November looks like it was a really good month."

Consumer spending has been buoyed in large part by a strengthening job market and plunging gas prices. According to AAA, gas prices have fallen for 88 straight days, the longest stretch on record, and cheaper fuel has acted as an unexpected tax cut for consumers, experts said.

In its research note, IHS said third-quarter GDP did not include a bump from lower gas prices, but Armstrong sees a bright forecast for the economy in the new year.

"It continues to be a good market and we'll probably have another few good years left," she said. "We're going to be seeing these big ups and big downs. It's going to be two or three steps forward, one step back."

Sal Guatieri, senior economist at BMO Capital Markets, said he expects consumer spending to fuel economic growth of 2.6 percent in the current October-December period. Guatieri also foresees solid growth of 3.1 percent next year, which would be the best performance since the economy grew 3.3 percent in 2005.


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Sony tries to save face with 'Interview' flip-flop

ATLANTA — Sony's flip-flop on releasing "The Interview" shows the studio is working furiously to try to chart the right course through political and public-opinion minefields.

Although analysts don't believe the decision will have any effect on Sony's image, it will at least give the movie-going public a chance to vote with their wallets and send North Korea a protest message.

Last week, Sony canceled the Christmas Day release of "The Interview" in the wake of an extensive hacking attack and release of confidential emails by a group linked with North Korea. The movie stars Seth Rogen and James Franco as journalists tasked by the CIA with killing North Korean leader Kim Jong Un. The hackers threatened violence if Sony didn't pull the movie. Sony did so after major theater chains decided not to screen it.

But the company then wavered in the face of public outcry and criticism from President Barack Obama. On Tuesday, Sony Entertainment CEO Michael Lynton said Seth Rogen's North Korea farce "will be in a number of theaters on Christmas Day."

The film is set to open in over 200 theaters, down from an original release planned in 3,000. Atlanta's Plaza Theater and 16 theaters that are part of the Alamo Drafthouse chain in Texas are among those that plan to show it.

Lynton said Sony also is continuing its efforts to release the movie in more theaters and through more platforms — namely digital channels, such as Internet streaming or video on demand on cable systems. But Sony isn't offering specifics. Starz, which has first pay TV and streaming rights to Sony releases, didn't respond to requests for comment. Streaming service Netflix declined comment, while YouTube didn't respond to requests.

Plaza Theater owner Michael Furlinger said he was thrilled to be showing the movie. He canceled plans to fly to Long Island, New York, to see his parents for the holidays.

"We play a lot of controversial pictures, things I don't necessarily agree with, but I will never censor them," he said. "It's not for me to decide. It's for the customer to decide. If they want to come, they'll spend their money. If they don't, that's their choice. It should not be the choice of somebody from North Korea or China or anywhere else."

Atlanta Police spokesman Sgt. Greg Lyon said police will monitor the location for potential threats, but he wouldn't discuss specifics. Furlinger said the theater will take some precautions, though he said he wasn't worried about the threats.

If anything, the controversy has raised awareness about the movie. Although fewer theaters are showing it, those theaters might be more packed than they would have been otherwise.

Anthony LoRusso, 54, of Atlanta, thought the premise of the movie was "silly" and initially planned to wait for the DVD. Now, he plans to see it at The Plaza.

Colby Cohen, 29, of Atlanta said he probably would have seen it anyway, but the brief cancellation made him want to see it more.

"I'm going to get to fight terrorism on Christmas Day now," he said.

Because Sony has been wavering on its release of "The Interview" since last week, deciding to release it after all should not have a major effect on its image. Laura Ries, president of Atlanta-based branding consulting company Ries & Ries, said most moviegoers don't tie movies with the studio that makes them in the first place.

If Sony ends up expanding the theatrical release and sells the movie through digital channels, it could end up recouping some of its box offices losses. Doug Stone, president of film industry newsletter Box Office Analyst, had estimated domestic box office for the movie would be $75 million to $100 million, of which Sony keeps about 55 percent. But the release is too limited so far to give Sony much of a financial bump.

Furthermore, costly damage from the email leaks to relationships and future projects cannot be recouped, and there is a threat of more leaks as Sony plans on releasing the film now.

"Panic-based decisions are not sound crisis management," said Jonathan Bernstein, president of Los Angeles-based crisis management company Bernstein Crisis Management. The studio is making decisions too quickly and could face more embarrassment if hackers leak additional documents and emails in retaliation for showing the movie, he said. He said Sony should have waited until it is sure it can protect itself.

Still, moviegoers seemed enthusiastic Tuesday. Isaac Sokol, a 21-year-old university student in the Dallas suburb of Richardson, bought two tickets for a Christmas night show at the Alamo Drafthouse theater in Richardson.

"The only way to tackle world conflicts and human rights violations and all of the dreaded things around the world is to take them with a grain of salt," he said. "If you don't, it's going to just be sadness."

The Alamo Drafthouse said many showtimes across the chain were selling out for Christmas Day, but the company did not provide specifics.

Once James Wallace, the Richardson theater's creative manager, received word Tuesday morning that the movie was back on, the theater got to work preparing for several shows. Among other touches, the theater will offer a patriotic menu featuring burgers, "freedom fries" and apple pie.

"You better believe it's going to be all-American," Wallace said.

___

AP Film Writer Jake Coyle in New York and AP writers Kathleen Foody in Atlanta, Nomaan Merchant in Dallas, Joseph Pisani in New York and Michael Liedtke in San Francisco contributed to this report.


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Sony threatens legal action against Twitter after users post hacked emails

Written By Unknown on Selasa, 23 Desember 2014 | 20.25

Sony Pictures Entertainment is threatening Twitter with legal action and is calling on the social media platform to prevent its users from posting emails exposed during the recent hack of the studio.

In a letter sent to Twitter's general counsel by Sony Pictures' attorney David Boies, the company threatens that if "stolen information continues to be disseminated by Twitter in any manner," Sony will "hold Twitter responsible for any damage or loss arising from such use or dissemination by Twitter."

One letter cited musician Val Broeksmit, in particular, whose Twitter feed includes screenshots of emails by Sony execs including Michael Lynton, Amy Pascal, Clint Culpepper, Hannah Minghella, Doug Belgrad and Dwight Caines, among others.

Sony also demanded Twitter "comply with all future requests with regard to any other account holder seeking to disseminate the Stolen Information via Twitter. In addition, we ask that you provide the Account Holder with a copy of this letter, and request that the Account Holder cease publication of the Stolen Information on Twitter."

"SPE does not consent to Twitter's or any Twitter account holder's possession, review, copying, dissemination, publication, uploading, downloading, or making any use of the Stolen Information, and to request your cooperation in suspending the Account Holder's Twitter account and the account of any other user seeking to disseminate the Stolen Information via Twitter," according to an email.

In response, Twitter sent Broeksmit a message letting him know that the platform "cannot provide legal advice" and that he "may wish to contact your own attorney about this matter."

While Twitter does not let its users post another person's private information via text or images, it does not prevent users to link to that kind of information through posts.

Reddit currently bans users who post links of emails and other documents stolen from Sony's computer servers, but does not prevent them from posting news stories of the hacks. It already had taken down a forum that included links to the hacked documents.

Earlier this month, Sony's attorneys demanded press destroy any information it may have obtained after information and emails were leaked online and emailed to journalists.

The letter, sent from Boies to Twitter's general counsel, Vijaya Gadde, and subsequent emails to Broeksmit, were first reported by Motherboard.

Broeksmit has told Vice that "I'm not with a newspaper and I think I can get away with it. It's important -- the reason is it's so new and different from anything we've seen before."

The musician started posting images of Sony emails after hackers, calling themselves the "Guardians of Peace," posted data and films stolen from SPE online, including salaries of top execs and personal info for thousands of current and former employees, forcing the studio to ultimately pull the Christmas Day release of the comedy "The Interview," starring Seth Rogen and James Franco, in which North Korean leader Kim Jong-un is assassinated.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Business Protocol: Toe the line in kissing under mistletoe at holiday parties

Hung over a doorway during Christmas, mistletoe remains one of the season's most beloved traditions.

They say mistletoe has spiritual and healing powers. It is also said to be a sexual symbol and an aphrodisiac. One legend states couples kissing underneath mistletoe will have good luck but a couple not performing the ritual will have bad luck. And while mistletoe is widely viewed as a symbol of love, it was traditionally a symbol of peace. Enemies who encountered each other underneath mistletoe-bearing trees are supposed lay down their arms, embrace and agree to a truce until the next day. This gesture of goodwill evolved into the custom of kissing as we know it today.

Finding yourself underneath the mistletoe can be festive and fun, especially after a few cocktails, but be careful not to get cornered … or carried away! For starters, full "lip lock" should be reserved for your spouse/significant other.

Here are some options to consider before you get near those innocent-looking dangling sprigs:

• Consider kissing at least one other person before an office crush, to conceal your true intentions!

• Men should consider offering a female co-worker the hand kiss, showing the ultimate respect.

• Rest your hands on the other person's shoulders to help respect personal space/comfort zone issues:

• The cheek kiss — always appropriate.

• The "never wrong" air kiss, even better, while simultaneously shaking the other person's right hand, and squelch any budding office rumors.

• The corner to corner kiss — allowing the corner of your lips to just barely touch their lips.

• The motherly forehead kiss.

• Finally, you will never go wrong with the old-fashioned handshake.

Some other things to bear in mind: Your mistletoe should be real — with white berries. Fake mistletoe is tacky. If the berries are red, it's probably holly. Hang it from the ceiling — beforehand! Don't walk around with it, holding it over people.

And tradition calls for men to remove a berry when they kiss a woman. When all the berries are gone, the kissing is over.

Bottom line: Treat other people with respect and defer to their wishes while protecting your own dignity and reputation. And if you're uncomfortable with any of this ... steer clear of the mistletoe!

Judith Bowman is the president and founder of Protocol Consultants International and author of "Don't Take the Last Donut: New Rules of Business Etiquette" and "How to Stand Apart @ Work ... Transforming '"Fine'" to Fabulous!" Email her at Judith@ProtocolConsultants.com.


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Two top execs leaving MassChallenge

Two members of MassChallenge's executive team are stepping down.

In emails yesterday, Akhil Nigam, president and co-founder of the Boston-based startup accelerator and competition, and Karl Buttner, chief mentorship officer, said they will remain advisers to the organization but did not say what their next career move would be or who would replace them.

"Akhil and Karl are two of the most dedicated, sincere, enthusiastic and fun people I know ," John Harthorne, co-founder and CEO, said in a separate email. "We've been planning for this moment for a while now. MassChallenge has made some new hires, reorganized the team and worked to ensure a smooth transition. We'll announce more in the coming months as we head into an exciting 2015."

Nigam, a Harvard Business School alumnus and former Bain and Co. employee, did not say why he is leaving. Buttner, an MIT graduate, said he is trading his "lengthy car commute" to spend more time with his family.


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Netflix cuts CEO Reed Hastings salary

Netflix said co-founder and CEO Reed Hastings' baseline salary would be $1 million in 2015 -- down from $3 million this year -- in a regulatory filing.

At the same time, Hastings had an annual stock-option allowance worth up to $13.7 million of shares, per Netflix's filing.

Also in the 8-K filing, Netflix said CFO David Wells would receive $2 million in salary and up to $1.675 million value in the company's stock-option allowance. Chief content officer Ted Sarandos, with a $1 million salary, will receive $9.6 million value in stock options as well as up to $2 million in bonus for 2015.

In other compensation: Netflix chief product officer Neil Hunt stands to receive $1 million in salary as well as $1.87 million worth of stock options and up to $5 million in bonus. Greg Peters, chief of Netflix's streaming and partnerships office, will earn $1 million as well as 2.725 million stock options and a potential $1 million bonus, according to the company's regulatory filing.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Keurig recalls 'Mini Plus' coffee makers

WASHINGTON — Keurig is recalling some 7 million of single-serve coffee brewing machines because of reported burns.

Keurig says its Mini Plus Brewing Systems, with model number K10, can overheat and spray water during brewing. Keurig says it had received about 200 reports of hot liquid escaping from the brewer, including 90 reports of burn-related injuries.

The U.S. Consumer Product Safety Commission released details on the recall Tuesday. The recalled brewers have an identification number starting with "31" printed on the bottom. They were sold online and in stores in the U.S. and Canada between 2009 and 2014.

Consumers are being urged to call Keurig Green Mountain Inc. of Waterbury, Vermont, at 1-844-255-7886 to arrange for free repair.

___

On the Web:

http://www.cpsc.gov/en/Recalls/2015/Keurig-Recalls-MINI-Plus-Brewing-Systems/


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Cambridge frets over business climate

Written By Unknown on Senin, 22 Desember 2014 | 20.25

Two of Cambridge's top priorities — supporting biotech companies and being green — are in a tug-of-war as the city mulls tougher emissions standards for new construction.

A city task force has been meeting for nearly a year to come up with a way for new buildings in Cambridge to be "net zero" to significantly reduce emissions. But some of the most energy-intensive buildings in Cambridge are biotech labs, which require a significant amount of specialized infrastructure, including high-powered ventilation systems to deal with any potentially hazardous gases.

"We want to reduce greenhouse gas emissions in the built environment," said Susanne Rasmussen, director of environmental and transportation planning for Cambridge and co-chairwoman of the task force. "The actions we take could have much broader impact than in our own community."

Joe McGuire, vice-president of development for Alexandria Real Estate Equities, one of the largest developers of lab space in Cambridge and also a member of the task force, said, "There are less than a handful of cases where a lab can be made net zero. (Labs) could be five or six times more expensive (to power) than an office building."

He said his own company makes energy efficiency a priority, but developing a net-zero emissions lab in Cambridge would be nearly impossible.

Because Cambridge is so densely packed, particularly in Kendall Square where most labs sit, there is less room for renewable energy infrastructure, such as solar panels.

McGuire estimates roughly half of Cambridge's commercial office space is taken up by laboratories, a far greater percentage than anywhere else in the world.

"It's impossible with technology that's currently available to build a 200k-square-foot lab building that's net zero," said Peter Abair, director of economic development for the Massachusetts Biotechnology Council.

McGuire said increased costs to developers will be passed on to companies, some of which may start to look outside of Cambridge if the cost gets too high.

"I'm concerned that what Cambridge does is so aggressive that it makes other communities more attractive," he said.

The task force is anticipating that there will be significant technological breakthroughs in the coming years for renewable energy.

Under current plans, which have not been finalized, the task force would require new lab space to have net-zero emissions by 2030.

"We recognize that laboratory buildings have unique circumstances that make them at least right now have a higher energy consumption," Rasmussen said.

The task force plans to reevaluate the timeline and other regulations every five years.


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Sony lawyer says 'The Interview' 'will be distributed'

"The Interview" will see the light of day, according to Sony lawyer David Boies.

Boies appeared on NBC's "Meet the Press" on Sunday and claimed that Sony's controversial comedy "The Interview" "will be distributed." How it will be distributed, however, he admitted is unclear right now.

"Sony only delayed this," Boies told "Meet the Press" host Chuck Todd. "Sony has been fighting to get this picture distributed. It will be distributed. How it's going to be distributed, I don't think anybody knows quite yet. But it's going to be distributed."

On Wednesday, the same day Sony pulled the Christmas Day theatrical release of "The Interview," the studio said it has "no further release plans" for the comedy, which stars Seth Rogen and James Franco as a duo attempting to assassinate North Korean leader Kim Jong-un.

On Friday, Sony Pictures CEO Michael Lynton said Sony "immediately began actively surveying alternatives" to release the film on a different platform.

Boies also touched on President Obama's comments on the aftermath of the Sony hack attack.

"I think that what we have to do is use the President's recognition of the importance of this issue as a rallying cry, so that all Americans can unite against what is really a threat to our national security," said Boies. "If state-sponsored criminal acts like this can be directed against Sony, it can be directed against anybody."

Obama has been critical of Sony's decision in the last week, saying the studio "made a mistake" in pulling the theatrical release of the film.

"We can not have a society in which some dictator some place can start imposing censorship in the United States, because if somebody is able to intimidate us out of releasing a satirical movie, imagine what they start doing once they see a documentary that they don't like or news reports that they don't like," Obama said. "That's now who we are. That's not what America is about."

Obama also called the hack attack "cyber vandalism," rather than an act of war.

"I'm not debating whether it ought to be called 'criminal,' 'vandalism,' 'terrorism.' What we know is that that was a state-sponsored attack on the privacy of an American corporation and its employees," Boies said.

Sony pulled "The Interview's" theatrical release after a number of large theater chains refused to show it, due to threats in which hackers evoked the memory of 9/11 in claiming they would attack theaters that showed the film.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Global markets gain as oil rebounds

SEOUL, South Korea — Global markets were mostly higher Monday after the Federal Reserve's pledge not to rush to raise interest rates prompted investors to add risky assets ahead of the year-end holiday. A rise in the price of oil boosted energy stocks.

KEEPING SCORE: Britain's FTSE 100 rose 1 percent to 6,607.17 while Germany's DAX gained 0.8 percent to 9,862.75. France's CAC 40 advanced 1.1 percent to 4,288.34. Wall Street appeared to be headed for another day of gains, with futures for the Standard & Poor's 500 and Dow Jones industrial average both up 0.3 percent.

ASIA'S DAY: China's Shanghai Composite Index was up 1.6 percent to 3,158.94. South Korea's Kospi added 0.7 percent to 1,943.77 and Hong Kong's Hang Seng rose 1.5 percent to 23,452.25. Japan's Nikkei 225 dipped 0.1 percent to 17,610.33 while Australia's S&P/ASX 200 jumped 1.9 percent to 5,422.00. Stocks in Southeast Asia and Taiwan also rose.

ANALYST'S TAKE: "Our markets have opened firmer after the strong rebound in energy prices," said Tony Kwok, a sales trader in Sydney for CMC Markets. "Oil futures in particular, jumped 3.3 percent, despite Saudi Arabia refusing to cut production, which is seen as a very positive sign for the recently battered commodity."

OIL REBOUND: Saudi Petroleum Minister Ali Naimi said Sunday that he was certain the oil market would recover with the improvement of the global economy. Oil peaked at $107 a barrel in June but has plunged since then due to weak demand, especially after Saudi Arabia and other members of the Organization of Petroleum Exporting Countries agreed to maintain production levels. Naimi, in a speech at an energy summit in Abu Dhabi, denied his government was trying to suppress oil prices.

ENERGY STOCKS: Shares of energy companies, which have underperformed benchmarks, made gains as crude prices rebounded after the Saudi petroleum chief, Naimi, expressed confidence the market would stabilize. State-owned Chinese oil and gas producer PetroChina Co. jumped 4 percent while another state-owned energy company, Sinopec Shanghai Petrochemical Co., advanced 2.6 percent.

FED PLEDGE: Last week's volatile stock movements found an upward direction after the Federal Reserve reassured investors on Wednesday it was in "no hurry" to hike interest rates and that a rate hike will not take place during the first quarter of next year. The news emboldened investors and the U.S. dollar rose against other major currencies.

ENERGY: Benchmark U.S. crude was up 56 cents to $57.69 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $2.77 on Friday to settle at $57.13 a barrel. Brent crude, used to price international oils, rose $2.03 to $62.04 per barrel in London.

CURRENCIES: The dollar strengthened to 119.838 yen while the euro rose to $1.226 from $1.2230.


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'The Interview' fallout: theater owners angry at Sony for shifting blame

Theater owners are incensed that Sony Pictures Entertainment has insisted in public statements that they are the major reason the studio canceled the release of "The Interview."

Exhibitors believe that they are being made the scapegoat for the cancellation when many of them only wanted the film's premiere to be delayed or modified, three theater industry executives tell Variety.

After hackers threatened theaters that screened "The Interview" and moviegoers who bought tickets to the film while evoking the memory of 9/11, Sony said in a statement last week that the majority of exhibitors cancelled their bookings. That characterization has been disputed in exhibition circles. The exhibition executives said that several chains asked only to delay playing the movie until the authorities could discover who was behind the message or had apprehended the criminals who hacked the studio.

Authorities have since said that North Korea is behind the hackings as punishment for Sony backing "The Interview," which centers on a plot to kill the country's leader Kim Jong-un.

In an interview with CNN on Friday, Sony Entertainment CEO Michael Lynton said, "The only decision that we have made with respect to release of the film was not to release it on Christmas Day in theaters, after the theater owners declined to show it...Without theaters, we could not release it in the theaters on Christmas Day. We had no choice."

His remarks came after President Barack Obama said Sony had made a "mistake" in pulling the film because it emboldened the North Korean hackers who have tormented the studio for weeks. Lynton said Sony still hopes to release the film.

Following his interview on CNN, Lynton reached out the heads of major theater chains such as Carmike, Regal and AMC by phone to say that he had not meant to imply they were wholly responsible for the film being pulled and that he understood their safety concerns. Those conversations were civil on both sides, according to individuals with knowledge.

His words may not have done enough to assuage feelings across the exhibition industry. Among the repercussions being weighed are that some exhibitors will refuse to pay Sony the film terms they once did or will decline to guarantee the same screen counts for its lower profile films. They may also be more lax when it comes to promoting Sony films on their websites or in their theaters with posters and other materials. These potential measures have yet to be communicated to Sony.

Sony Pictures still hopes to release "The Interview" by the end of 2014, but the comedy will likely forgo a theatrical release, according to a source close to studio.

Instead, the film will be made available through a patchwork of electronic sell through, video on demand and other home entertainment platforms, the source said. There may be some road blocks. No major distributor has signed on yet and some have expressed concerns that they will be targeted by the hackers who have terrorized Sony for weeks if they carry the picture.

Even if the film secures enough distribution platforms, it may have difficulty recouping the roughly $75 million the studio spent to make and market the picture.

There will also be ruffled feathers to smooth over with theater owners, particularly those that dispute Sony's claims that their refusal to show the picture led the studio to pull the film. Some theater chains, including Canadian chain Cineplex, suggested opening the film in limited release in a few key markets over the holidays in order to gauge if threats were real. Others, such as Carmike, were careful to say in public statements that they were delaying the release.

Instead of postponing the release or doing a limited rollout, Sony said Wednesday that it had no further release plans for the film - a position it has since modified.

A spokesman for Sony declined to comment.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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