Agency Investigates Deaths and Injuries Associated With Bed Rails


Thomas Patterson for The New York Times


Gloria Black’s mother died in her bed at a care facility.







In November 2006, when Clara Marshall began suffering from the effects of dementia, her family moved her into the Waterford at Fairway Village, an assisted living home in Vancouver, Wash. The facility offered round-the-clock care for Ms. Marshall, who had wandered away from home several times. Her husband Dan, 80 years old at the time, felt he could no longer care for her alone.








Thomas Patterson for The New York Times

Gloria Black, visiting her mother’s grave in Portland, Ore. She has documented hundreds of deaths associated with bed rails and said families should be informed of their possible risks.






But just five months into her stay, Ms. Marshall, 81, was found dead in her room apparently strangled after getting her neck caught in side rails used to prevent her from rolling out of bed.


After Ms. Marshall’s death, her daughter Gloria Black, who lives in Portland, Ore., began writing to the Consumer Product Safety Commission and the Food and Drug Administration. What she discovered was that both agencies had known for more than a decade about deaths from bed rails but had done little to crack down on the companies that make them. Ms. Black conducted her own research and exchanged letters with local and state officials. Finally, a letter she wrote in 2010 to the federal consumer safety commission helped prompt a review of bed rail deaths.


Ms. Black applauds the decision to study the issue. “But I wish it was done years ago,” she said. “Maybe my mother would still be alive.” Now the government is studying a problem it has known about for years.


Data compiled by the consumer agency from death certificates and hospital emergency room visits from 2003 through May 2012 shows that 150 mostly older adults died after they became trapped in bed rails. Over nearly the same time period, 36,000 mostly older adults — about 4,000 a year — were treated in emergency rooms with bed rail injuries. Officials at the F.D.A. and the commission said the data probably understated the problem since bed rails are not always listed as a cause of death by nursing homes and coroners, or as a cause of injury by emergency room doctors.


Experts who have studied the deaths say they are avoidable. While the F.D.A. issued safety warnings about the devices in 1995, it shied away from requiring manufacturers to put safety labels on them because of industry resistance and because the mood in Congress then was for less regulation. Instead only “voluntary guidelines” were adopted in 2006.


More warnings are needed, experts say, but there is a technical question over which regulator is responsible for some bed rails. Are they medical devices under the purview of the F.D.A., or are they consumer products regulated by the commission?


“This is an entirely preventable problem,” said Dr. Steven Miles, a professor at the Center for Bioethics at the University of Minnesota, who first alerted federal regulators to deaths involving bed rails in 1995. The government at the time declined to recall any bed rails and opted instead for a safety alert to nursing homes and home health care agencies.


Forcing the industry to improve designs and replace older models could have potentially cost bed rail makers and health care facilities hundreds of million of dollars, said Larry Kessler, a former F.D.A. official who headed its medical device office. “Quite frankly, none of the bed rails in use at that time would have passed the suggested design standards in the guidelines if we had made them mandatory,” he said. No analysis has been done to determine how much it would cost the manufacturers to reduce the hazards.


Bed rails are metal bars used on hospital beds and in home care to assist patients in pulling themselves up or helping them out of bed. They can also prevent people from rolling out of bed. But sometimes patients — particularly those suffering from Alzheimer’s — can get confused and trapped between a bed rail and a mattress, which can lead to serious injury or even death.


While the use of the devices by hospitals and nursing homes has declined as professional caregivers have grown aware of the dangers, experts say dozens of older adults continue to die each year as more rails are used in home care and many health care facilities continue to use older rail models.


Since those first warnings in 1995, about 550 bed rail-related deaths have occurred, a review by The New York Times of F.D.A. data, lawsuits, state nursing home inspection reports and interviews, found. Last year alone, the F.D.A. data shows, 27 people died.


As deaths continued after the F.D.A. warning, a working group put together in 1999 and made up of medical device makers, researchers, patient advocates and F.D.A. officials considered requiring bed rail makers to add warning labels.


But the F.D.A. decided against it after manufacturers resisted, citing legal issues. The agency said added cost to small manufacturers and difficulties of getting regulations through layers of government approval, were factors against tougher standards, according to a meeting log of the group in 2000 and interviews.


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Thanksgiving weekend sales top $59B








More people hit the stores this Thanksgiving weekend than did last year, as big-box retailers opened their doors earlier than ever on Thursday.

Spending per shopper averaged $423 -- $25 more than last year -- from Thursday to Sunday, while total spending increased nearly 13 percent, to an estimated $59.1 billion, according to a survey the National Retail Federation released Sunday afternoon.

"I think the only way to describe the Thanksgiving openings is to call it a huge win," said Matthew Shay, the trade group's president and chief executive. Shopping, he said, "has really become an extension of the day's festivities."

About 35 million people visited stores and shopping websites Thursday, up from 29 million last year. More than double that number -- 89 million, up from 86 million -- shopped on Black Friday.

"There were more people shopping every single day of the weekend," Shay said. "Black Friday is a little bit different than historically, but it certainly is not dead."

But whether increased sales over the Thanksgiving weekend will translate to higher sales throughout the holiday shopping season remains to be seen. Analysts have been predicting mediocre sales this year, as shoppers remain uncertain about the broader economy.


Overall holiday sales are expected to increase 4.1 percent from 2011, compared with sales growth of 5.6 percent last year, the National Retail Federation said. Overall holiday sales are projected to total about $586.1 billion.


On average, Americans are expected to spend $749.51 this holiday season, up $9 from last year but still below 2006 figures.

In an effort to defy the stingy projections, some retailers opened at 8 p.m. on Thursday, while others offered to match the prices of their online competitors. But some analysts have projected that retailers would only succeed in prompting customers to buy gifts earlier in the holiday season, rather than to spend more.

Most of the weekend's shoppers -- roughly 58 percent -- bought clothing and accessories, whereas 38 percent bought electronics and 35 percent shelled out for toys.

Much of the weekend's shopping took place online, as consumers logged on to take advantage of Internet-only specials beginning early Thursday morning. The average shopper spent more than $172 online this weekend, which made up approximately 41 percent of the total weekend spending. That is up from 38 percent last year.

"There is no question that online is a real bright spot in the retail industry," Shay said. "For the first time, more than half of those who shopped this weekend said they shopped online."

Online sales are slated to pick up even more, as many retailers kick off Cyber Monday sales a day or two early. Wal-Mart began offering online discounts on Saturday, and Amazon.com started on Sunday with plans to offer deep savings for Internet shoppers all week.






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Hard-fought victory assures Irish spot in national title game









LOS ANGELES — Deliverance arrived on a crisp southern California night, welcomed in a frenzy of leaps and hugs and arms wind-milling helmets and cathartic screams. Notre Dame waited decades for this, all right, the end to the interminable search for its long-lost promise. It just needed to climb to the top of college football to find it.

The Irish will play for a national championship in January, inextricably No. 1 and 12-0 after a 22-13 victory over USC before 93,607 witnesses Saturday night at Los Angeles Memorial Coliseum, a sparkling moment of rapture in the City of Angels. Whether Notre Dame is back maybe isn't the point right now. It's that the Irish have arrived.

"We had a dream," linebacker Manti Te'o said, "and we put in the work to make sure that dream came true."

It was a grinding, imperfect but relentless effort Saturday to get there, and maybe there couldn't be any other way. Everett Golson, the redshirt freshman quarterback, cramped up but cut loose for 217 yards passing and was mistake-free. Theo Riddick, the senior tailback who was a slot receiver at this time last year, stampeded to 146 yards and a score.

And the Heisman hopeful, Te'o, picked off another pass and helped spearhead another adrenalized, fourth-quarter goal-line stand that stomped out USC's last hope and created a save-the-date for Jan. 7. There Notre Dame will play in the BCS title game, almost assuredly against the winner of the SEC, becoming the most galvanizing foil yet to that league's dominance.

"The way it's set up, only two teams can play for a national championship," Irish coach Brian Kelly said. "It feels great that you have that opportunity."

One game now, to look upon everyone else from the summit for the first time since 1988.

"Ecstatic," Irish safety Zeke Motta said. "There's no other feeling like it that I could have ever imagined. You think about the hard work and the competing that we did in the offseason, and to witness it pay off, and to be in this position we're in right now, there's no other feeling like it."

There were other, substantially less exultant feelings swirling in the same stadium tunnel a scant four years ago. Athletic director Jack Swarbrick could laugh about that Saturday night: About being pinned against a wall to discuss the downward spiral of the Charlie Weis era then, and being cornered to talk about a head-spinning revival now.

A year after that utter demolition by USC in 2008, Swarbrick made his coaching change and brought in Kelly. He brought in his program-builder. He thought it was the perfect fit. He also thought it would take longer than this.

"I gotta tell you, I always thought it was next year," Swarbrick said. "From Day 1, I thought it was next year. So it's cool. It's cool to be ahead of schedule."

In fact, maybe the only guy not taken aback was the guy responsible for it all.

"You get this far into it, and now you start to look up and go, oh, we're 11-0 — you want to finish it off," Kelly said.

"It's easy to say well, yeah, I'm surprised. But when you go in that locker room and you're around the guys I'm around, you're not surprised. What they've done, the commitment they've made, they've done everything I've asked them to do. Everything. So it doesn't surprise me anymore."

Notre Dame had USC where it wanted the Trojans early, on-heels and tested, on the spot to demonstrate any mettle or desire at the end of a season gone wrong and going nowhere. The Irish thundered to a 10-0 first-quarter lead, first scoring on a Kyle Brindza 27-yard field goal and then a Riddick 9-yard score.

If this was the last hurdle to the BCS title game, it appeared knee-high. But USC showed it could be resolute, swiftly moving to an 11-yard Robert Woods touchdown reception to reignite some drama. From there, it was field goal after field goal after field goal for both sides, a constant thrust and parry, all the way to a Brindza 33-yarder that made it a 19-10 lead entering the fourth quarter.

"We understood that it was going to be a dogfight, and that's what it was," Te'o said.

Then Notre Dame watched in glee as USC coach Lane Kiffin began exacting self-torture. First came the pre-snap timeout that might have wiped out a touchdown catch, only to watch the ensuing pass sail out of the end zone.

And after the fifth Brindza field goal created a two-score cushion with six minutes left, the pain became excruciating. A 53-yard Marqise Lee reception after a long kickoff return set up a goal-to-go situation for the Trojans. Two pass interference penalties put them on the 1-yard line. They ran once. They ran again. They ran again. Then they threw an incomplete pass.

Notre Dame had made its stand, everyone exploding off the sideline and into celebration.

"If you have followed us all year, that's how we play," Kelly said. "We come up big defensively at some time during the game. We did that again."

All that remained were 21/2 minutes to burn. Irish fans in attendance counted down the Coliseum clock, as if it was New Year's Eve.

And then the celebration began, wild and joyous, for a date decades in the making. Players bobbed and chanted in front of the fans. Te'o grabbed Kelly in the tunnel in a spontaneous embrace, telling his coach he loved him.

Notre Dame will play for a national title. A moment so many waited for, and never saw coming.

"I haven't really grasped the whole situation," Riddick said, sitting on a table in a Coliseum tunnel. "What can I say? We're going to Miami."

bchamilton@tribune.com

Twitter @ChiTribHamilton



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Saudi telco regulator suspends Mobily prepaid sim sales












(Reuters) – Saudi Arabia‘s No.2 telecom operator Etihad Etisalat Co (Mobily) has been suspended from selling pre-paid sim cards by the industry regulator, the firm said in a statement to the kingdom’s bourse on Sunday.


Mobily’s sales of pre-paid, or pay-as-you-go, sim cards will remain halted until the company “fully meets the prepaid service provisioning requirements,” the telco said in the statement.












These requirements include a September order from regulator, Communication and Information Technology Commission (CITC). This states all pre-paid sim users must enter a personal identification number when recharging their accounts and that this number must be the same as the one registered with their mobile operator when the sim card was bought, according to a statement on the CITC website.


This measure is designed to ensure customer account details are kept up to date, the CITC said.


Mobily said the financial impact of the CITC’s decision would be “insignificant”, claiming data, corporate and postpaid revenues would meet its main growth drivers.


The firm, which competes with Saudi Telecom Co (STC) and Zain Saudi, reported a 23 percent rise in third-quarter profit in October, beating forecasts.


Prepaid mobile subscriptions are typically more popular among middle and lower income groups, with telecom operators pushing customers to shift to monthly contracts that include a data allowance.


Customers on monthly, or postpaid, contracts are also less likely to switch provider, but the bulk of customers remain on pre-paid accounts.


Mobily shares were trading down 1.4 percent at 0820 GMT on the Saudi bourse.


(Reporting by Matt Smith; Editing by Dinesh Nair)


Tech News Headlines – Yahoo! News


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‘Gangnam Style’ most watched YouTube video ever












SEOUL, South Korea (AP) — South Korean rapper PSY‘s “Gangnam Style” has become YouTube’s most viewed video of all time.


YouTube says in a posting on its Trends blog that “Gangnam Style” had been viewed 805 million times as of Saturday afternoon, surpassing Justin Bieber‘s “Baby,” which has had 803 million views.












The blog says the “velocity of popularity for PSY’s outlandish video is unprecedented.”


PSY’s video featuring his horse-riding dance was posted on YouTube in July, while “Baby” was uploaded in February 2010.


PSY’s video has become a global sensation, with many people around the world mimicking his “Gangnam Style” dance. In their October meeting, U.N. Secretary-General Ban Ki-moon, a South Korean, joked that he had to relinquish his title as “the most famous Korean,” and tried a few of PSY’s dance moves.


Entertainment News Headlines – Yahoo! News


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Rosenthal: Big Ten getting too big for its own good?








There's a lesson the empire builders at Big Ten Conference headquarters in Park Ridge would do well to heed if they can be convinced to stop peering out to the distant horizon:


Growth through acquisition is fraught with peril.


"In the business world you acquire new companies and you have to deal with different corporate cultures, different priorities and so forth," Robert Arnott, chairman of Research Affiliates LLC, an investment firm, said in an interview. "Merging them is often very messy and often fails. Here you're merging two teams into an existing conference and it creates risks. … Even college football teams have different cultures, different ways of thinking about how to win and different standards."






There undoubtedly was a logic behind each acquisition as the old Sears sought to expand and diversify its corporate profile. By the time the Chicago-area company's portfolio grew to include Allstate insurance, Coldwell Banker real estate and Dean Witter Reynolds stock brokerage, it was clear the increase in size was in no way matched by an increase in strength.


Rather than an all-powerful Colossus astride many sectors at once, it was reduced to an unfocused blob, bereft of identity, covering plenty of ground but hardly standing tall. Years after shedding its far-flung holdings, Sears has yet to regain its muscle, mojo or market share.


"It's hard to find a better example of a company that lost its mission and focus in the quest for growth," Arnott said.


"(Growth) may be partly a defensive move. It may be ego driven. In the corporate arena, you certainly see that in spades," he said. "When growth is through acquisition, you have to figure out what the real motivation is. Is it synergy, the most overused word in the finance community, or is it ego?"


Adding the University of Maryland and New Jersey's Rutgers University in 2014 will push the Big Ten to 14 schools and far beyond the Midwestern territory for which it's known. But doing so may not achieve what its backers envision.


Rather than spread the conference's brand, it may merely dilute it. The fit may be corrosive, not cohesive.


There is a school of thought that this is but the latest evidence that the Big Ten is not about athletics, academics or even the Midwest. Instead, it is just a television network, the schools content providers and student-athletes talent.


As it is, the overall TV payout is said to give each of the 12 current Big Ten schools about $21 million per year. They point to the Big Ten's lucrative deals with ESPN and its own eponymous cable network, a partnership with News Corp. They note that public schools Rutgers and Maryland are near enough to New York, Baltimore and Washington, D.C., to drive a better bargain with cable carriers.


To Big Ten Commissioner Jim Delany, a New Jersey native, the addition is more the result of a paradigm shift that has redrawn the college sports map over the past decade. Some conferences splinter. Others seize new turf. The result: Idaho's Boise State football team is poised to join the Big East Conference next year.


"Institutions that get together for academics or athletics have got to be cognizant that they are competing for students, they are competing for student athletes, they are competing for research dollars," Delany told reporters.


"When you see a Southern conference in the Midwest or you see a Southern conference in the Plains states or whether you see other conferences in the Midwest or Northeast, it impacts your recruitment. ... It impacts everything you do," he said. "At a certain point you get to a tipping point. The paradigm has shifted, and you decide on a strategy to basically position yourself for the next decade or half-century."


Big has always meant more than 10 in the Big Ten, an intercollegiate entity formed by seven Midwestern universities that now boasts 12 with the bookends of Penn State and Nebraska added in 1990 and last year, respectively. Last week's announcement of adding schools 13 and 14 was just a reminder that the conference has only had 10 member schools for 70 of its 116 years and won't again for the foreseeable future.


Rutgers President Robert Barchi said his school looked "forward as much to the collaboration and interaction we're going to have as institutions as we do to what I know will be really outstanding competition on our field of play."


But make no mistake, the Big Ten was born out of sports, specifically football. A seven-school 1896 meeting at Chicago's Palmer House had Northwestern among those still stinging from a scathing Harper's Weekly critique of college sports abuses, the Tribune reported at the time.


A prohibition on allowing scholarship and fellowship students to compete was shot down. But "a move towards the coordination of Faculty committees" in terms of standards and enforcement passed and the precursor to the Big Ten was born.


Along the way, the conference has added member schools and come to recognize that the Big Ten's image has much to say about how those institutions are perceived. Scandals already are no stranger to the Big Ten. But whether you play in a stadium or on Wall Street, the bigger one gets, the bigger target one becomes.


"Whoever's biggest draws scrutiny," said Arnott, co-author of a research paper, "The Winners Curse: Too Big to Succeed." "That means politicians, regulators, the general public generally don't root for the biggest. They look to take them down a notch, so it's harder to succeed as the largest. It's also harder to move the dial and move from success to success as you get really big."


Everyone talks about becoming too big to fail, but there's also too big to scale, companies that are unable to capitalize on the efficiencies of their increased size ostensibly because they are so big that they cannot be managed adequately.


"People talk about economies of scale. There are also vast diseconomies of scale, mostly in bureaucracies," Arnott said. "The more people you have involved, the more people you have who feel they have to have their views reflected in whatever's done. So you wind up with innovation by committee."


That's deadly. That's why companies break up, citing the need to get smaller so they can grow.


"If you break up companies into operating entities that are more nimble," Arnott said, "the opportunities to grow are no longer hamstrung by centralized bureaucracies that have to pursue synergies that don't exist."


Size matters in all fields of play. Sometimes smaller is better.


philrosenthal@tribune.com


Twitter @phil_rosenthal






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Larry Hagman dies at 81; TV's J.R. Ewing









J.R. Ewing was a business cheat, faithless husband and bottomless well of corruption. Yet with his sparkling grin, Larry Hagman masterfully created the charmingly loathsome oil baron — and coaxed forth a Texas-size gusher of ratings — on television's long-running and hugely successful nighttime soap, "Dallas."


Although he first gained fame as nice guy Capt. Tony Nelson on the fluffy 1965-70 NBC comedy "I Dream of Jeannie," Hagman earned his greatest stardom with J.R. The CBS serial drama about the Ewing family and those in their orbit aired from April 1978 to May 1991, and broke viewing records with its "Who shot J.R.?" 1980 cliffhanger that left unclear if Hagman's character was dead.


The actor, who returned as J.R. in a new edition of "Dallas" this year, had a long history of health problems and died Friday due to complications from his battle with cancer, his family said.


"Larry was back in his beloved hometown of Dallas, re-enacting the iconic role he loved the most. Larry's family and closest friends had joined him in Dallas for the Thanksgiving holiday," the family said in a statement that was provided to The Associated Press by Warner Bros., producer of the show.


The 81-year-old actor was surrounded by friends and family before he passed peacefully, "just as he'd wished for," the statement said.


Linda Gray, his on-screen wife and later ex-wife in the original series and the sequel, was among those with Hagman in his final moments in a Dallas hospital, said her publicist, Jeffrey Lane.


"He brought joy to everyone he knew. He was creative, generous, funny, loving and talented, and I will miss him enormously. He was an original and lived life to the fullest," the actress said.


Years before "Dallas," Hagman had gained TV fame on "I Dream of Jeannie," in which he played an astronaut whose life is disrupted when he finds a comely genie, portrayed by Barbara Eden, and takes her home to live with him.


Eden recalled late Friday shooting the series' pilot "in the frigid cold" on a Malibu beach.


"From that day, for five more years, Larry was the center of so many fun, wild and sometimes crazy times. And in retrospect, memorable moments that will remain in my heart forever," Eden said.


Hagman also starred in two short-lived sitcoms, "The Good Life" (NBC, 1971-72) and "Here We Go Again" (ABC, 1973). His film work included well-regarded performances in "The Group," ''Harry and Tonto" and "Primary Colors."


But it was Hagman's masterful portrayal of J.R. that brought him the most fame. And the "Who shot J.R.?" story twist fueled international speculation and millions of dollars in betting-parlor wagers. It also helped give the series a place in ratings history.


When the answer was revealed in a November 1980 episode, an average 41 million U.S. viewers tuned in to make "Dallas" one of the most-watched entertainment shows of all time, trailing only the "MASH" finale in 1983 with 50 million viewers.


It was J.R.'s sister-in-law, Kristin (Mary Crosby) who plugged him — he had made her pregnant, then threatened to frame her as a prostitute unless she left town — but others had equal motivation.


Hagman played Ewing as a bottomless well of corruption with a charming grin: a business cheat and a faithless husband who tried to get his alcoholic wife, Sue Ellen (Gray), institutionalized.


"I know what I want on J.R.'s tombstone," Hagman said in 1988. "It should say: 'Here lies upright citizen J.R. Ewing. This is the only deal he ever lost.'"


On Friday night, Victoria Principal, who co-starred in the original series, recalled Hagman as "bigger than life, on-screen and off. He is unforgettable, and irreplaceable, to millions of fans around the world, and in the hearts of each of us, who was lucky enough to know and love him."


Ten episodes of the new edition of "Dallas" aired this past summer and proved a hit for TNT. Filming was in progress on the sixth episode of season two, which is set to begin airing Jan. 28, the network said.


There was no immediate comment from Warner or TNT on how the series would deal with Hagman's loss.


In 2006, he did a guest shot on FX's drama series "Nip/Tuck," playing a macho business mogul. He also got new exposure in recent years with the DVD releases of "I Dream of Jeannie" and "Dallas."


The Fort Worth, Texas, native was the son of singer-actress Mary Martin, who starred in such classics as "South Pacific" and "Peter Pan." Martin was still in her teens when he was born in 1931 during her marriage to attorney Ben Hagman.


As a youngster, Hagman gained a reputation for mischief-making as he was bumped from one private school to another. He made a stab at New York theater in the early 1950s, then served in the Air Force from 1952-56 in England.


While there, he met and married young Swedish designer Maj Axelsson. The couple had two children, Preston and Heidi, and were longtime residents of the Malibu beach colony that is home to many celebrities.


Hagman returned to acting and found work in the theater and in such TV series as "The U.S. Steel Hour," ''The Defenders" and "Sea Hunt." His first continuing role was as lawyer Ed Gibson on the daytime serial "The Edge of Night" (1961-63).


He called his 2001 memoir "Hello Darlin': Tall (and Absolutely True) Tales about My Life."


"I didn't put anything in that I thought was going to hurt someone or compromise them in any way," he told The Associated Press at the time.


Hagman was diagnosed in 1992 with cirrhosis of the liver and acknowledged that he had drank heavily for years. In 1995, a malignant tumor was discovered on his liver and he underwent a transplant.


After his transplant, he became an advocate for organ donation and volunteered at a hospital to help frightened patients.


"I counsel, encourage, meet them when they come in for their operations, and after," he said in 1996. "I try to offer some solace, like 'Don't be afraid, it will be a little uncomfortable for a brief time, but you'll be OK.' "


He also was an anti-smoking activist who took part in "Great American Smoke-Out" campaigns.


Funeral plans were not immediately announced.


"I can honestly say that we've lost not just a great actor, not just a television icon, but an element of pure Americana," Eden said in her statement Friday night. "Goodbye, Larry. There was no one like you before and there will never be anyone like you again."


___


Associated Press writers Erin Gartner in Chicago and Shaya Mohajer in Los Angeles, and AP Television Writer Frazier Moore in New York contributed to this report.







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Facebook and volatile market still chill IPOs












Making a killing on initial public offerings used to be easy.


At the peak of the technology boom, little more than a decade ago, a plentiful supply of companies vied to sell stock on the exchanges, and investors were assured mouthwatering returns.












These days, the deals are fewer and the returns more modest.


Companies are set to raise more than $ 45 billion through IPOs this year — the most since 2007, according to data provider Dealogic. But if you scratch the surface, there are signs that the market is less healthy than it appears.


Almost a third of the money raised in IPOs this year came from one deal, Facebook‘s $ 16 billion offering in May, and the number of companies taking themselves public may end at a three-year low.


The pipeline, or backlog, of companies planning to sell stock is also thinning.


“It’s a reflection of the psychology of the market today. It’s not strong. It’s moderate to weak,” says Rob Lutts, chief investment officer at Cabot Money Management in Salem, Mass.


While 437 companies have filed for an IPO this year, 178 have withdrawn or postponed their planned listings, Dealogic data show.


The state of the IPO market matters beyond Wall Street. Besides giving investors the chance to buy into fast-growing parts of the market, offerings give companies the money to expand and hire workers.


Scott Cutler, head of global listings at NYSE Euronext, which runs the New York Stock Exchange, estimates that more than 90 percent of a public company’s employee growth comes after it has listed on an exchange.


IPO activity is dictated largely by the health of the overall stock market. Falling markets discouraging companies from going public.


The Standard & Poor’s 500 is up 11 percent this year, but the advance has been punctuated by sharp declines when investors fretted about European debt, the election and, now, a looming “cliff” of tax increases and government spending cuts.


“The general market has been real choppy this year. It really has,” says Sal Morreale, an institutional salesman at Cantor Fitzgerald in Los Angeles who tracks offerings.


Facebook’s calamitous market debut also put the brakes on IPOs.


The social networking site’s offering was the most keenly anticipated market debut at least since Google’s in 2004. But concerns about revenue from smartphone users spooked investors, and the offering was plagued by technical glitches.


The stock was priced at $ 38 and fell almost immediately, dropping as low as $ 17.55 on Sept. 4. The negative publicity helped shutter the IPO market for more than a month until EQT Midstream Partners, an energy company, sold stock June 16. Companies including American Tire Distributors and Crosair, a computer memory company, were among those withdrawing their IPOs.


“That deal has become a textbook case of how not to do a deal,” says Quincy Krosby, a market strategist with Newark, N.J.-based Prudential Financial. “That IPO really chastened investors.”


The backlog of companies planning IPOs fell to 39 in November, according to data from Ipreo, a market analysis company firm. That is the fewest since August 2009, just after the recession. The tally has been declining steadily since September 2011.


NYSE’s Cutler says that much of the decline is because of a law passed in April designed to make it easier for companies to attract funding. They can confidentially notify regulators of their intention to seek a listing.


Cutler says that if the business environment remains stable, the pace of IPO filling will be “slightly up” next year as companies become more familiar with the law.


The law allows companies to avoid disclosing competitively sensitive information and come to the market at much shorter notice. Ultimately, it will encourage more companies to seek listings, Cutler says.


Despite Facebook‘s high-profile slump, most companies have left something on the table for investors.


The average return for IPOs this year has been 11 percent, according to Dealogic data. That’s less than the average 88 percent one-year return that investors garnered in 1999 but roughly in line with the broader market.


Among the best debuts: Guidewire Software, a provider of software for the insurance industry, and Nationstar Mortgage Holdings, a Texas mortgage provider and servicer, according to data from IPO investment advisory firm Renaissance Capital.


Investors that bought Guidewire’s stock at $ 13 at its market debut in January have seen it rise to almost $ 30, while Nationstar’s stock has almost doubled from $ 14 to $ 27.35.


There are some advantages to a slow IPO market, says Lutts of Cabot Money Management. When demand is low, only the best companies are able to attract enough demand to list on the exchanges, raising the quality of companies coming to the market. And it can be an indicator that the broader market is oversold and thus offers some bargains.


“When we’re frothy, everything is coming at a premium,” Lutts says. “I’m interested in equities today because of a weak IPO market.”


Social Media News Headlines – Yahoo! News


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‘Dallas’ star Larry Hagman dies in Texas












J.R. Ewing was a business cheat, faithless husband and bottomless well of corruption. Yet with his sparkling grin, Larry Hagman masterfully created the charmingly loathsome oil baron — and coaxed forth a Texas-size gusher of ratings — on television’s long-running and hugely successful nighttime soap, “Dallas.”


Although he first gained fame as nice guy Capt. Tony Nelson on the fluffy 1965-70 NBC comedy “I Dream of Jeannie,” Hagman earned his greatest stardom with J.R. The CBS serial drama about the Ewing family and those in their orbit aired from April 1978 to May 1991, and broke viewing records with its “Who shot J.R.?” 1980 cliffhanger that left unclear if Hagman’s character was dead.












The actor, who returned as J.R. in a new edition of “Dallas” this year, had a long history of health problems and died Friday due to complications from his battle with cancer, his family said.


“Larry was back in his beloved hometown of Dallas, re-enacting the iconic role he loved the most. Larry’s family and closest friends had joined him in Dallas for the Thanksgiving holiday,” the family said in a statement that was provided to The Associated Press by Warner Bros., producer of the show.


The 81-year-old actor was surrounded by friends and family before he passed peacefully, “just as he’d wished for,” the statement said.


Linda Gray, his on-screen wife and later ex-wife in the original series and the sequel, was among those with Hagman in his final moments in a Dallas hospital, said her publicist, Jeffrey Lane.


“He brought joy to everyone he knew. He was creative, generous, funny, loving and talented, and I will miss him enormously. He was an original and lived life to the fullest,” the actress said.


Years before “Dallas,” Hagman had gained TV fame on “I Dream of Jeannie,” in which he played an astronaut whose life is disrupted when he finds a comely genie, portrayed by Barbara Eden, and takes her home to live with him.


Eden recalled late Friday shooting the series’ pilot “in the frigid cold” on a Malibu beach.


“From that day, for five more years, Larry was the center of so many fun, wild and sometimes crazy times. And in retrospect, memorable moments that will remain in my heart forever,” Eden said.


Hagman also starred in two short-lived sitcoms, “The Good Life” (NBC, 1971-72) and “Here We Go Again” (ABC, 1973). His film work included well-regarded performances in “The Group,” ”Harry and Tonto” and “Primary Colors.”


But it was Hagman’s masterful portrayal of J.R. that brought him the most fame. And the “Who shot J.R.?” story twist fueled international speculation and millions of dollars in betting-parlor wagers. It also helped give the series a place in ratings history.


When the answer was revealed in a November 1980 episode, an average 41 million U.S. viewers tuned in to make “Dallas” one of the most-watched entertainment shows of all time, trailing only the “MASH” finale in 1983 with 50 million viewers.


It was J.R.’s sister-in-law, Kristin (Mary Crosby) who plugged him — he had made her pregnant, then threatened to frame her as a prostitute unless she left town — but others had equal motivation.


Hagman played Ewing as a bottomless well of corruption with a charming grin: a business cheat and a faithless husband who tried to get his alcoholic wife, Sue Ellen (Gray), institutionalized.


“I know what I want on J.R.’s tombstone,” Hagman said in 1988. “It should say: ‘Here lies upright citizen J.R. Ewing. This is the only deal he ever lost.’”


On Friday night, Victoria Principal, who co-starred in the original series, recalled Hagman as “bigger than life, on-screen and off. He is unforgettable, and irreplaceable, to millions of fans around the world, and in the hearts of each of us, who was lucky enough to know and love him.”


Ten episodes of the new edition of “Dallas” aired this past summer and proved a hit for TNT. Filming was in progress on the sixth episode of season two, which is set to begin airing Jan. 28, the network said.


There was no immediate comment from Warner or TNT on how the series would deal with Hagman’s loss.


In 2006, he did a guest shot on FX’s drama series “Nip/Tuck,” playing a macho business mogul. He also got new exposure in recent years with the DVD releases of “I Dream of Jeannie” and “Dallas.”


The Fort Worth, Texas, native was the son of singer-actress Mary Martin, who starred in such classics as “South Pacific” and “Peter Pan.” Martin was still in her teens when he was born in 1931 during her marriage to attorney Ben Hagman.


As a youngster, Hagman gained a reputation for mischief-making as he was bumped from one private school to another. He made a stab at New York theater in the early 1950s, then served in the Air Force from 1952-56 in England.


While there, he met and married young Swedish designer Maj Axelsson. The couple had two children, Preston and Heidi, and were longtime residents of the Malibu beach colony that is home to many celebrities.


Hagman returned to acting and found work in the theater and in such TV series as “The U.S. Steel Hour,” ”The Defenders” and “Sea Hunt.” His first continuing role was as lawyer Ed Gibson on the daytime serial “The Edge of Night” (1961-63).


He called his 2001 memoir “Hello Darlin’: Tall (and Absolutely True) Tales about My Life.”


“I didn’t put anything in that I thought was going to hurt someone or compromise them in any way,” he told The Associated Press at the time.


Hagman was diagnosed in 1992 with cirrhosis of the liver and acknowledged that he had drank heavily for years. In 1995, a malignant tumor was discovered on his liver and he underwent a transplant.


After his transplant, he became an advocate for organ donation and volunteered at a hospital to help frightened patients.


“I counsel, encourage, meet them when they come in for their operations, and after,” he said in 1996. “I try to offer some solace, like ‘Don’t be afraid, it will be a little uncomfortable for a brief time, but you’ll be OK.’ “


He also was an anti-smoking activist who took part in “Great American Smoke-Out” campaigns.


Funeral plans were not immediately announced.


“I can honestly say that we’ve lost not just a great actor, not just a television icon, but an element of pure Americana,” Eden said in her statement Friday night. “Goodbye, Larry. There was no one like you before and there will never be anyone like you again.”


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Associated Press writers Erin Gartner in Chicago and Shaya Mohajer in Los Angeles, and AP Television Writer Frazier Moore in New York contributed to this report.


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Scientists See Advances in Deep Learning, a Part of Artificial Intelligence


Hao Zhang/The New York Times


A voice recognition program translated a speech given by Richard F. Rashid, Microsoft’s top scientist, into Mandarin Chinese.







Using an artificial intelligence technique inspired by theories about how the brain recognizes patterns, technology companies are reporting startling gains in fields as diverse as computer vision, speech recognition and the identification of promising new molecules for designing drugs.




The advances have led to widespread enthusiasm among researchers who design software to perform human activities like seeing, listening and thinking. They offer the promise of machines that converse with humans and perform tasks like driving cars and working in factories, raising the specter of automated robots that could replace human workers.


The technology, called deep learning, has already been put to use in services like Apple’s Siri virtual personal assistant, which is based on Nuance Communications’ speech recognition service, and in Google’s Street View, which uses machine vision to identify specific addresses.


But what is new in recent months is the growing speed and accuracy of deep-learning programs, often called artificial neural networks or just “neural nets” for their resemblance to the neural connections in the brain.


“There has been a number of stunning new results with deep-learning methods,” said Yann LeCun, a computer scientist at New York University who did pioneering research in handwriting recognition at Bell Laboratories. “The kind of jump we are seeing in the accuracy of these systems is very rare indeed.”


Artificial intelligence researchers are acutely aware of the dangers of being overly optimistic. Their field has long been plagued by outbursts of misplaced enthusiasm followed by equally striking declines.


In the 1960s, some computer scientists believed that a workable artificial intelligence system was just 10 years away. In the 1980s, a wave of commercial start-ups collapsed, leading to what some people called the “A.I. winter.”


But recent achievements have impressed a wide spectrum of computer experts. In October, for example, a team of graduate students studying with the University of Toronto computer scientist Geoffrey E. Hinton won the top prize in a contest sponsored by Merck to design software to help find molecules that might lead to new drugs.


From a data set describing the chemical structure of 15 different molecules, they used deep-learning software to determine which molecule was most likely to be an effective drug agent.


The achievement was particularly impressive because the team decided to enter the contest at the last minute and designed its software with no specific knowledge about how the molecules bind to their targets. The students were also working with a relatively small set of data; neural nets typically perform well only with very large ones.


“This is a really breathtaking result because it is the first time that deep learning won, and more significantly it won on a data set that it wouldn’t have been expected to win at,” said Anthony Goldbloom, chief executive and founder of Kaggle, a company that organizes data science competitions, including the Merck contest.


Advances in pattern recognition hold implications not just for drug development but for an array of applications, including marketing and law enforcement. With greater accuracy, for example, marketers can comb large databases of consumer behavior to get more precise information on buying habits. And improvements in facial recognition are likely to make surveillance technology cheaper and more commonplace.


Artificial neural networks, an idea going back to the 1950s, seek to mimic the way the brain absorbs information and learns from it. In recent decades, Dr. Hinton, 64 (a great-great-grandson of the 19th-century mathematician George Boole, whose work in logic is the foundation for modern digital computers), has pioneered powerful new techniques for helping the artificial networks recognize patterns.


Modern artificial neural networks are composed of an array of software components, divided into inputs, hidden layers and outputs. The arrays can be “trained” by repeated exposures to recognize patterns like images or sounds.


These techniques, aided by the growing speed and power of modern computers, have led to rapid improvements in speech recognition, drug discovery and computer vision.


Deep-learning systems have recently outperformed humans in certain limited recognition tests.


Last year, for example, a program created by scientists at the Swiss A. I. Lab at the University of Lugano won a pattern recognition contest by outperforming both competing software systems and a human expert in identifying images in a database of German traffic signs.


The winning program accurately identified 99.46 percent of the images in a set of 50,000; the top score in a group of 32 human participants was 99.22 percent, and the average for the humans was 98.84 percent.


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