Dennis Santiago: Four More Bank Closures Mark the Week of January 27, 2012

The FDIC shuttered four additional banks today bringing the 2012 count to seven. The four banks closed were BankEast in Knoxville, Tenn., Patriot Bank Minnesota in Forest Lake, Minn., Tennessee Commerce Bank in Franklin, Tenn. and First Guaranty Bank and Trust Company of Jacksonville in Jacksonville, Fla. The general pattern of the FDIC closing banks with weak operating characteristics and deepening asset quality troubles continues. All four banks found buyers and will be spending the weekend changing over to their new owners.

Forensic analysis pages for these banks can be found here:

First Guaranty Bank and Trust Company of Jacksonville -- Jacksonville, FL 1/27/2012

Patriot Bank Minnesota -- Forest Lake, MN 1/27/2012

Tennessee Commerce Bank -- Franklin, TN 1/27/2012

BankEast -- Knoxville, TN 1/27/2012

?

Follow Dennis Santiago on Twitter: www.twitter.com/DennisSantiago

Source: http://www.huffingtonpost.com/dennis-santiago/four-more-bank-closures-m_b_1238177.html

jerome harrison ryan leaf ryan leaf jahvid best libya map libya map world series game 2

[OOC] Character Pages

Forum rules
This forum is for OOC discussion about existing roleplays.

Please post all "Players Wanted" threads in the Roleplayers Wanted forum!

This topic is an Out Of Character part of the roleplay, ?Bad Blood?. Anything posted here will also show up there.

Topic Tags:

online roleplay roleplay online -->

HTML, for websites and MySpace:

BBcode, for forum posts and signatures:

--> Forum for completely Out of Character (OOC) discussion, based around whatever is happening In Character (IC). Discuss plans, storylines, and events; Recruit for your roleplaying game, or find a GM for your playergroup.

Post pictures and descriptions of your characters here, and review other people's characters before posting, or after posting.

User avatar
anaka
Member for 0 years



Is this where we would talk about dorms to? Since it has to do with characters and all. If so I was wondering if girls had to be bunked with girls and if guys had to be bunked with guys.

My Music Ratings-
Paramore= Awesomeness
Fall Out boy= Head banging time!
Justin Beiber= I'm Deaf
Cody Simpson= Somebody kill me now

User avatar
gezzygezzy
Member for 1 years


Haha....just read the places and I think I found my answer, but still...dorm mateless!

User avatar
gezzygezzy
Member for 1 years


The names for the roommates are posted on the doors, my sign( Christina's) is blue, and Raina's is red. So, take your pick. The other girls should arrive soon.

User avatar
anaka
Member for 0 years



Post a reply

RolePlayGateway is a site built by a couple roleplayers who wanted to give a little something back to the roleplay community. The site has no intention of earning any profit, and is paid for out of their own pockets.

If you appreciate what they do, feel free to donate your spare change to help feed them on the weekends. After selecting the amount you want to donate from the menu, you can continue by clicking on PayPal logo.

Who is online

Registered users: -raven-, 106.Whit(;, 4ever_dreaming*, Abalyth*, Ace, Airanea, AiraValkov, Allana, anaka*, Anansi, Andreis*, Aniihya*, Annaky, aod0209*, ArcticFox*, Aria Montgomery, AugustaBlaze*, Auricambrflaym, Azure Limit*, Beach-Born-Boy, BekaL101, Beta Type Jakuri, BilgeWater, Billie_blujean, birdguard, Black, Blackangel22, Blackbird26*, BlueWind_22, BSDJoker*, Caelus*, cass-isnt-here, Centraiu, Chaningm92, ChaosxChild13, chaoticklaud, Cheshire_Cat, Choclate~Pyrus*, chocolateloversuntie, ChristineF, Chulance*, cmpuncle, CountessMomo, CriminalMinds*, Cure, DA_SHADOW_PHOENIX*, danm36*, DarknessToDeath23*, dealing with it*, DemiKara*, Demonoid, dig17*, DragonWriter*, Draruto, Drowssword*, DTalon*, Eiris*, Elite-Tiger, emotionless, evilfang, Fatal_Flaw_Enki*, Fearful-lover*, Finalhazard3*, Forensic_Anthro*, gezzygezzy, girlwt*, Google [Bot], Google Adsense [Bot], Google Feedfetcher, Grimpunker96*, Guardian Angel, Halfanelf, HerHeroine*, Horseygirl, iCat, Ikuto Tsukiyomi Fan, Irish Wolf, IronPhoenix, jackrules158, jacobsmacob, Jadeling Hawkins, Jaybt9, JayZeroSnake*, Jeffrey!, JustDrinkTea, Kai, KapugenWolf, Katana_Wing*, kathrin*, Ken Shiro, Kenzi, Kesteven, kkpigs, ktownknight, KuruLesperance, Lady Marmalade, LeNarcissus, Lifecharacter, Lloyd999, Loriana, Lost Socks, lostamongtrees*, LostInFantasy, LuckyNumber24, Lucy100, Luv-is-a-Bug, LycanGod13, MarchHare, Marcus*, Mat_z6, McDevious*, Meesha, mgoodwin2, MidnightDreams, Mr. Crow, Mr_Doomed, MrGuy0250*, MSN [Bot], MSNbot Media, mwills47*, NarrowEye, NasiaWords*, Nemo, Nevermore90, nibblesnbits, nightwolf, NorthernSoul*, oetunianne, Omega_Pancake, Otowar*, Pandex, pathfinder Z, peachyme123, Penfold, pieluver, Planter777*, poeticjustice8012, PolarOpposites*, Porecomesis, Pretty, PrincessBoy*, PrincessX18, Quantumlegacy*, rabble_rouser, Random Kat*, Rawr413*, RedRidingHood*, Rem?us*, Renmiri, rizzyrat, Ropeburn*, RubyBlue, Ryand-Smith*, RydeDawg, Script*, Scumbag_Brain, Scythe Massak?r*, Setsugie, Shiva*, shmband*, SilentButterflies, SinAngel*, SkullJester*, SkullsandSlippers, SkyRight, Smith, Smokescreen, smrtazz13*, Something?, sparkleshine, StandardFiend, Starryskies*, Steppin' Razor*, stormwolf321, SuperQ19, Sweet Angel Jocelyn, sweetgal, Sylwyn, SynapticError, Taiyon, Tearen Wover*, TechGorilla*, teffi90*, The Angry Penguin, The Harbinger*, The Illusionist*, The Painkiller*, The Sickness, The Vampire Mistress*, the_judged*, TheDarkWorgen*, TheFlag, ThePsycoWarlock, TheTreForce*, Thorait, ThumpersDarkSyde, Tiko*, Trickster, True Grave, Usui*, utahann, Velvet_Harmony, VitaminHeart, Vyral*, WadeJackel*, Wake*, Walking-travesty, warlord001, Wet Matches*, WindsOfWhimsy, winged1107, Wudgeous, XavierDantius32*, Xinbane*, Yahoo [Bot], yogitheambrangyl, Zenia, ZeroTolerance, zerr0max*, Ziddie, ? Reality ?

Source: http://feedproxy.google.com/~r/RolePlayGateway/~3/_f2CwlfhYGo/viewtopic.php

new ipod touch new ipod touch dwts results vanessa paradis vanessa paradis when will ios 5 be released when will ios 5 be released

Facebook IPO could value it among top companies (AP)

LOS ANGELES ? When Facebook makes its long-expected debut as a public company this spring, the social-networking company will likely vault into the ranks of the largest public companies in the world, alongside McDonald's, Amazon.com and Bank of America.

The Wall Street Journal reported Friday that Facebook is preparing to file initial paperwork for an offering that could raise as much as $10 billion and value the company at $75 billion to $100 billion. The filing with the Securities and Exchange Commission could come as early as Wednesday, with an initial public offering of stock in three or four months.

The targeted amount would slot it among the world's 25 largest IPOs, although as recently as November 2010, General Motors raised $15.8 billion when it shed majority control by the U.S. government.

The IPOs of 14 companies would rank higher than Facebook's, according to investment adviser Renaissance Capital. Among them were Visa Inc.'s $17.9 billion IPO in March 2008, the largest for a U.S. company, and world-topper Agricultural Bank of China Ltd., which raised $19.3 billion in July 2010, not including extra shares issued to meet demand.

Facebook spokesman Larry Wu said the company will not comment on IPO-related speculation. The Journal had cited unnamed people familiar with the matter.

The Journal also said that Facebook was close to picking Morgan Stanley as the lead underwriter, which would be a setback for rival Goldman Sachs. Both declined comment to The Associated Press.

The buzz surrounding an outsized haul for Facebook's founders, employees and early investors remains a hopeful sign for capital markets following a deep recession. At the reported price, Facebook's IPO would be the biggest for a U.S. Internet company ever ? topping the debut of one of its main rivals, Google Inc.

"We are expecting 2012 to be a year of recovery for the IPO market led by the Facebook IPO," said Kathy Smith, Renaissance Capital's principal.

The event will follow a string of tepid debuts by technology startups including social game maker Zynga and discount advertiser Groupon. The stocks of both companies are just pennies above their offering prices in December and November respectively. Zynga's stock fell 5 percent below the IPO price on its first day of trading.

Facebook's will be the most anticipated tech IPO since Google went public in August 2004. Not including shares sold by early investors, the Internet search giant raised $1.2 billion and grabbed a market value of $23 billion, the biggest so far for a U.S. Internet company. The IPO raised $1.9 billion, including shares sold by early investors and extra stock issued to meet the heavy demand. It's not known whether Facebook's $10 billion target includes shares owned by early investors.

Facebook's reported valuation of $75 billion to $100 billion compares with about $100 billion for McDonald's Corp., $90 billion for Citigroup Inc. and Amazon.com Inc. and $75 billion for Bank of America Corp. It would exceed the market cap of $55 billion for Hewlett-Packard Co., one of the world's largest technology companies by revenue.

Both Facebook and Google earn most of their money from advertising and are now competing to gain as much information as possible about their users to help advertisers target niche audiences.

According to eMarketer, Facebook is expected to grow its share of the U.S. display ad market to about 20 percent this year from 16 percent in 2011, above second-ranked Yahoo's expected share of about 13 percent. For overall online ad revenue, Facebook is seen grabbing just 8 percent of the market this year, compared with 45 percent for Google.

EMarketer estimates that Facebook's ad revenue will grow 52 percent to $5.78 billion this year and will reach $7 billion in 2013.

Despite presumably topping Google's public launch, Facebook spent more time growing behind the veil of private ownership than its rival.

Facebook was founded by Mark Zuckerberg and his college roommates in 2004 and is debuting on stock markets in its eighth year. Google's IPO came six years after being founded by Larry Page and Sergey Brin. When Google turned eight in August 2006, its market cap was roughly $116 billion. Today, the company is worth nearly $190 billion ? down from a peak of about $235 billion in November 2007.

Investors may be asked to bet heavily on the belief that Facebook will continue to revolutionize the way people communicate around the globe. Even with Facebook's heady growth rate, Google had ad revenue last year of more than five times what Facebook is expected to get in 2013. Yet it is Google that is mimicking Facebook in building a rival social network called Plus.

"There's the general feeling that Facebook might be the future of the way the Internet works," said eMarketer analyst Debra Aho Williamson.

Zuckerberg, 27, is already worth $17.5 billion, based on the latest estimates from Forbes magazine. Most of that wealth is drawn from the value of Facebook shares that have traded among a small universe of well-heeled investors that buy stakes in companies before they go public.

As the company gauges public demand for its stock, the number of shares offered and the price asked could change significantly. Groupon had to refile its securities paperwork repeatedly as regulators questioned some of its accounting methods. Even Google took in less than it hoped as people shunned an unorthodox auction-based offering.

John Fitzgibbon Jr., publisher of IPOScoop.com, said it's too early to get excited.

"Until they actually put the ink on the paper and push it across the desk of the SEC, it's all speculation," he said.

The possible filing next week isn't all that surprising.

Federal rules require companies with at least $10 million in assets and more than 500 shareholders to disclose its quarterly financial results and other details. The reporting requirement kicks in 120 days after the fiscal year in which a company exceeds the shareholder threshold for the first time.

Facebook's fiscal year ends Dec. 31, so it has until late April 2012 to comply with this requirement, having hit the 500-shareholder threshold last year. Because it typically takes three or four months after filing paperwork to issue the IPO, a Wednesday filing would allow it to meet the deadline. If it happens in May, it could become a lucrative birthday gift for Zuckerberg, who will turn 28 that month.

Source: http://us.rd.yahoo.com/dailynews/rss/tech/*http%3A//news.yahoo.com/s/ap/20120128/ap_on_hi_te/us_facebook_ipo

dwight howard louis ck michelle duggar heisman cp3 lakers news rachel crow

Kenny Chesney leads ACM Awards nominations with 9 (AP)

NASHVILLE, Tenn. ? Kenny Chesney's steamy duet, "You and Tequila" with Grace Potter, continues to radiate heat.

The song helped Chesney to nine Academy of Country Music Awards nominations Thursday morning, including the top honor of entertainer of the year.

In a phone interview from Key West, where he was about to step on his boat for a few days of fishing and fun, Chesney called the success of "You and Tequila," written by Matraca Berg and Deana Carter, one of the highlights of his career.

"That song's been around for a while," Chesney said. "To me it just goes to show you a great song just has to some extent an infinite life and good songs never go out of style, and this one surely hasn't, thank God."

Jason Aldean, next with six nominations, Brad Paisley, Blake Shelton and 2011 winner Taylor Swift round out the fan-voted entertainer of the year category.

Lady Antebellum had five nominations, Paisley had four and several were deadlocked at three, including Swift.

Nominees were announced via social media with the help of stars like Reba McEntire and Lionel Richie. Fans were chosen to announce the entertainer of the year candidates. They'll have a chance to pick the winner in that category and new artist of the year for the 47th annual ACM Awards, which will air live April 1 from Las Vegas on CBS with McEntire and Shelton hosting.

Chesney is a four-time entertainer of the year winner and was the first victor under the academy's current fan-voted format. He's nominated for a 10th time in the male vocalist category and received double nominations as artist and producer for album of the year for "Hemingway's Whiskey" and single record of the year and vocal event of the year for "You and Tequila." He also receives a song of the year nomination as performer on "You and Tequila."

Potter, best known as an indie rock performer with her band The Nocturnals, received three nominations for the collaboration.

The nominations were in some sense a validation of Chesney's choice to take a year off the road in 2010. He used that time to focus on the music of "Hemingway's Whiskey," work on film projects, re-energize and even to give the fans a little break.

He returned to the road last year and again broke the million-mark in attendance.

"I feel like I did the right thing," Chesney said. "I know that this past summer was one of the most intense summers in a lot of great summers that we've had. The connection with the fans felt stronger than ever and I felt like the music we made because we took the year off was equally as strong. And the fact that the cycle's starting where people are recognizing that makes me excited and makes me feel great."

Aldean also is up for male vocalist, album of the year for "My Kinda Party," single record and vocal event of the year for the duet "Don't You Wanna Stay" with Kelly Clarkson, and video of the year for "Tattoos on This Town."

Lady Antebellum will compete for its third straight vocal group of the year win. The trio of Hillary Scott, Dave Haywood and Charles Kelley also is up for album of the year for "Own the Night" as artist and producer, and both song and video of the year for "Just a Kiss."

Along with his fifth straight entertainer nomination, Paisley will be going for another win in the male vocalist category. He's won it five times in a row. He also scored a double nomination in the vocal event category for "Old Alabama" with Alabama and "Remind Me" with Carrie Underwood.

Eric Church's "CHIEF" and Miranda Lambert's "Four the Record" round out the album of the year category. Lady A won last year for its breakthrough "Need You Now."

Nominees for the new artist of the year will be announced after the close of online voting Jan. 30. Fans are currently picking the nominees in that category from a list of eight semifinalists.

Fans can begin voting at the ACM website for entertainer and new artist nominees on March 19. The other award winners are picked by the academy's membership.

It's Shelton's first nomination for the academy's top award. The news comes the week after Shelton's father, Dick, passed away.

"The support I have felt this week is overwhelming," Shelton said in a statement. "Thank you everyone for this honor."

"The Voice" coach isn't the only rising star reaching new heights at the ACMs. Chris Young took a large step into the spotlight, earning nominations in the male vocalist and single record of the year categories.

He said during a call from his stop in Baltimore on the Miranda Lambert tour that 2011 was a whirlwind of highlights. He was recently talking with friends about all the great things that happened, from the success of his album, his tour with Aldean to the response to his nominated song "Tomorrow."

"We were sitting there going, `I don't know how you can top this,'" Young said. "And it looks just into January we've at least got a good shot at trying."

___

Online:

http://www.acmcountry.com

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

stop online piracy act spear of destiny rock hill sc kate middleton pregnant national book awards jessica sutta sexiest man alive 2011

`War Horse' star one of Hollywood's equine elite (AP)

ACTON, Calif. ? One star of Steven Spielberg's latest epic likes to end his work day by rolling around in the dirt, kicking his legs in the air and flaring his nostrils.

Finder, a 12-year-old thoroughbred, is among more than 150 equine performers featured in the Oscar-nominated "War Horse," and one of 14 who play the scene-stealing Joey. He lives on a ranch about 45 miles northeast of Hollywood with veteran horse trainer Bobby Lovgren, who oversaw all the equine action on "War Horse."

"Plowing, riding, chasing ? you name it, it's in there," said Lovgren, who calls "War Horse" "the biggest horse movie ever made." Lovgren is the prot?g? of legendary Hollywood horseman Glenn Randall, who trained Roy Rogers' Trigger.

Thanks to the enduring appeal of horses on screen, Lovgren, Finder and "War Horse" continue a longtime tradition of Hollywood horses that began with the earliest motion pictures.

"Bobby and his team literally performed miracles with the horses on this film," Spielberg said. "I wanted it to feel like the horses were performing their parts as much as (actors) Emily Watson or Peter Mullan, and that is what happened. There were times during production when the horses reacted in ways I had never imagined a horse could react. You just sit back and thank your lucky stars that these horses are so cognizant that they are able to give everything to a moment."

Those moments took months of training and a 22-member team of trainers, handlers and yes, equine makeup artists.

Set in England during World War I, "War Horse" centers on the enduring relationship between Joey and the farm boy who trained him. When Joey is sold to soldiers heading into battle, the horse begins a journey that brings him through various fighting factions and into the lives of soldiers and civilians who are moved by his strength and spirit.

The film has been nominated for six Academy Awards, including cinematography and best picture.

As the film's "horse master," Lovgren oversaw everything horse-related. His team prepared the equine actors for their various duties. Some became expert jumpers, others learned to stumble or feign a struggle. There were horses for riding and horses for pulling, and even stand-ins for the star horses while shots were being set. Lovgren's team was also responsible for teaching the actors how to ride and handle the animals.

"We all became incredibly attached to the horses," said cast member Patrick Kennedy. "Getting to know these horses and learning to ride them was the greatest privilege I've ever had."

None of the horses are credited by name in the film, and the filmmakers wouldn't say why. Lovgren said it's not uncommon: "Sometimes they'll put a few of the horses' names, but you know, realistically, it's very difficult to say that there was one hero Joey."

The trainer, whose many credits include last summer's "Cowboys & Aliens," typically spends about three months preparing his equine actors for a film shoot. He specializes in "liberty" work, meaning the horses are not restrained in any way and learn to respond to hand signals and body language.

The 46-year-old horseman grew up in an equestrian family in South Africa that runs a large jumping and dressage barn. Lovgren said he didn't much enjoy the public dealings that work required, so he headed to Hollywood to learn a new type of horse training. The 23 years he's spent working in movies prepared him for the challenges of "War Horse."

"All the scenes that we had to do had really all been done before in other films that I'd worked on, but never all in one. This took everything and put everything in one basket," he said. "I'm very proud of my other films, like `Zorro' and `Seabiscuit,' but it just has a little bit in there. The horse isn't the focal point. But in `War Horse' it is, and it's all the time."

Though Lovgren doesn't typically work with his own horses on set (he owns three, including Finder), he said he was lucky on this film that Finder was the right color. (Finder and the other horses playing Joey relied on makeup to make them look identical, with four white socks and a white star on their heads.)

Lovgren met Finder while working on "Seabiscuit" and loved him so much that he bought him. The thoroughbred is more expressive than most horses, Lovgren said, which makes him an ideal movie star.

Plus, he can play both genders. Finder played the mother in an early scene in the film showing the birth of Joey. That sequence and working with a foal was among the most difficult, Lovgren said. "They're very young, so you don't have much time to train them."

Almost everything in "War Horse" was shot with real horses, except for a few scenes that would have caused injury to the animals. Lovgren praised Spielberg's team for their respectful approach to the horses.

The toughest part of Lovgren's job isn't working with the animals, but communicating with filmmakers and other workers on set about what the horses need and what they can and can't do. Once filming begins, "it's more about communication skills than it is about training. That's something I've had to really learn," he said. "Obviously, I started working with animals because I don't work well with people (laughs), so that's been very important to learn to do that."

Watching Lovgren with Finder, it's easy to see the mutual love and respect between the two. Lovgren raises his arm and the powerful animal rears up. He makes a backward motion with a whip and the horse backs up. He strikes the whip on the ground and Finder bangs his hoof into the dirt. Lovgren throws a piece of wood two dozen yards away, and Finder runs to it and stands on his mark.

Lovgren doesn't train with treats, because "if you go on set and someone walks by with an apple, what's he going to do then?"

Instead, the animal's reward is "I leave him alone," Lovgren said. Still, Finder stands confidently by his side.

So with all the challenges of "War Horse," is it harder working with four-legged performers or two-legged Hollywood types?

"I'm not going to answer that!" Lovgren said with a smile. "We all know that answer, but I'm not going to answer that."

___

AP Entertainment Writer Sandy Cohen is on Twitter: www.twitter.com/APSandy.

___

Online:

www.warhorsemovie.com

Source: http://us.rd.yahoo.com/dailynews/rss/entertainment/*http%3A//news.yahoo.com/s/ap/20120125/ap_en_ot/us_film_hollywood_horses

the hunger games neil degrasse tyson neil degrasse tyson bears lions bears lions heavy d heavy d

CNN en Espanol anchor to participate in Fla debate

(AP) ? CNN en Espanol is joining the list of Spanish-language networks to co-host debates and forums with the GOP presidential candidates.

On Thursday, CNN en Espanol's top anchor Juan Carlos Lopez will moderate questions from a panel in Miami during the CNN debate in Jacksonville. The debate is also co-hosted by the Hispanic Leadership Network and the Republican Party of Florida.

Last fall, Telemundo anchor Jose Diaz-Balart asked questions related to immigration during an MSNBC debate, and he has since interviewed several of the candidates, including Newt Gingrich. On Wednesday, Univision anchor Jorge Ramos went head-to-head in a series of "Meet the Candidate" interviews with Mitt Romney, Gingrich and Rick Santorum.

Lopez has collaborated with CNN before, but Thursday's event will showcase his talents to a much broader, English-speaking audience.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2012-01-26-CNN%20Debate-Spanish/id-63e940374b844ac78a32004c7c97236f

walter isaacson zodiac killer battlefield 3 review battlefield 3 review real housewives of new jersey coraline coraline

Between Nothing And A Blog: Check Out CheckThis, A Cool New Micro-Publishing Tool

checkthisI don't often get a chance to write about a startup from my home country (Belgium) that I'm super excited about, so consider me a happy camper. Meet CheckThis.com, a new micro-publishing service that lets you create and share a single, good-looking Web page in mere seconds. CheckThis is designed for people who need a little more space than a tweet but don't want to go through the hassle of setting up a new blog. In literally instants, you can use CheckThis to create a stand-alone page to sell your bike, hire a new developer for your startup, tell people what you've been up to today, set up a really quick poll, share an Instragram or Flickr photo, a party invitation with a map, a Vimeo video or whatever other simple need you might have. Quick, simple, beautiful.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ZlVxQmASHqg/

rosie o donnell st nicholas st nicholas mindy mccready mindy mccready cliff harris cliff harris

How the Big Three forgot Accounting 101

[ Back to EurekAlert! ] Public release date: 25-Jan-2012
[ | E-mail | Share Share ]

Contact: Andy Henion
henion@msu.edu
517-355-3294
Michigan State University

EAST LANSING, Mich. The Big Three were so driven by short-term profits that they forgot or ignored basic accounting practices that could have helped guard against production decisions with long-term damage, according to an award-winning study by Michigan State University and Maastricht University in the Netherlands.

Essentially, the domestic automakers built far more vehicles than they needed while failing to appropriately account for the costs of excess capacity or the damage the overproduction would have on their reputations.

"I was surprised they were not following fundamental accounting practices like we teach in our introductory accounting classes," said Karen Sedatole, MSU associate professor of accounting. "They were basically fooling themselves into thinking that, by making more cars, the true cost of one car goes down. For the most part, it doesn't."

Sedatole co-authored the study with Ranjani Krishnan, MSU professor of accounting, and Alexander Bruggen, associate professor at Maastricht.

From 2005 to 2006 several years before the auto bailouts the researchers did field interviews with managers from one of the domestic automakers and collected a wealth of production data on the entire North American auto industry.

What they found was a culture of emphasizing short-term gain over long-term brand stability at General Motors Co., Ford Motor Co. and Chrysler Group LLC.

By building more cars than the market demanded, domestic automakers could better compete with their foreign counterparts on the hours-per-vehicle metric used in the influential Harbour Report and widely considered an indicator of automotive efficiency. Increasing production also allowed them to keep significant and rising costs of excess capacity off the Income Statement and on the Balance Sheet in the form of inventory. This practice, although acceptable for financial reporting purposes, is contrary to good accounting practices from a management decision-making perspective.

By doing this, the automakers made it appear as though their costs-per-vehicle were lower and their profits higher. Such behaviors are not uncommon for firms facing pressure from stockholders to boost operating profit and pressure from the public to justify large bonuses to executives. Sedatole characterized all these factors coming together as the "perfect storm."

Krishnan said the problem was worsened by high turnover in the management ranks. "The fact is, five years from now a certain manager may not be working here, so he needs to make his production numbers today so his analysts are happy, his investors are happy, his customers are happy and he makes his bonus," Krishnan said.

In the field interviews, many managers indicated they knew the short-term strategy would hurt their company's brand image, or reputation, in the long-term, but could not alter the culture. "It was something they had an intuition about, but it was like a big moving train that no one could stop," Sedatole said.

As a result, the automakers were left with an excess supply of vehicles they had to sell by offering huge incentives to consumers, a costly endeavor that also exacerbated the decline in brand image.

Since the industry crisis of 2008-2010, which led to the bailouts, the automakers have reduced some excess capacity, the researchers said. But as long as the automakers still can exceed market demand for short-term gain, Krishnan believes they will continue to do so.

"The point is, they can stop doing this it's just a question of wanting to stop doing it," Krishnan said.

To the extent that other industries show the same "perfect storm" characteristics excess capacity, internal and external incentives to overproduce, and the willingness to offer customer concessions to absorb the unwanted inventory they could fall into the same trap of harmful overproduction, Sedatole said.

The study, which appears in the journal Contemporary Accounting Research, was recently named the paper with the greatest potential impact on practice by the Management Accounting Section of the American Accounting Association.

###



[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?


AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.


[ Back to EurekAlert! ] Public release date: 25-Jan-2012
[ | E-mail | Share Share ]

Contact: Andy Henion
henion@msu.edu
517-355-3294
Michigan State University

EAST LANSING, Mich. The Big Three were so driven by short-term profits that they forgot or ignored basic accounting practices that could have helped guard against production decisions with long-term damage, according to an award-winning study by Michigan State University and Maastricht University in the Netherlands.

Essentially, the domestic automakers built far more vehicles than they needed while failing to appropriately account for the costs of excess capacity or the damage the overproduction would have on their reputations.

"I was surprised they were not following fundamental accounting practices like we teach in our introductory accounting classes," said Karen Sedatole, MSU associate professor of accounting. "They were basically fooling themselves into thinking that, by making more cars, the true cost of one car goes down. For the most part, it doesn't."

Sedatole co-authored the study with Ranjani Krishnan, MSU professor of accounting, and Alexander Bruggen, associate professor at Maastricht.

From 2005 to 2006 several years before the auto bailouts the researchers did field interviews with managers from one of the domestic automakers and collected a wealth of production data on the entire North American auto industry.

What they found was a culture of emphasizing short-term gain over long-term brand stability at General Motors Co., Ford Motor Co. and Chrysler Group LLC.

By building more cars than the market demanded, domestic automakers could better compete with their foreign counterparts on the hours-per-vehicle metric used in the influential Harbour Report and widely considered an indicator of automotive efficiency. Increasing production also allowed them to keep significant and rising costs of excess capacity off the Income Statement and on the Balance Sheet in the form of inventory. This practice, although acceptable for financial reporting purposes, is contrary to good accounting practices from a management decision-making perspective.

By doing this, the automakers made it appear as though their costs-per-vehicle were lower and their profits higher. Such behaviors are not uncommon for firms facing pressure from stockholders to boost operating profit and pressure from the public to justify large bonuses to executives. Sedatole characterized all these factors coming together as the "perfect storm."

Krishnan said the problem was worsened by high turnover in the management ranks. "The fact is, five years from now a certain manager may not be working here, so he needs to make his production numbers today so his analysts are happy, his investors are happy, his customers are happy and he makes his bonus," Krishnan said.

In the field interviews, many managers indicated they knew the short-term strategy would hurt their company's brand image, or reputation, in the long-term, but could not alter the culture. "It was something they had an intuition about, but it was like a big moving train that no one could stop," Sedatole said.

As a result, the automakers were left with an excess supply of vehicles they had to sell by offering huge incentives to consumers, a costly endeavor that also exacerbated the decline in brand image.

Since the industry crisis of 2008-2010, which led to the bailouts, the automakers have reduced some excess capacity, the researchers said. But as long as the automakers still can exceed market demand for short-term gain, Krishnan believes they will continue to do so.

"The point is, they can stop doing this it's just a question of wanting to stop doing it," Krishnan said.

To the extent that other industries show the same "perfect storm" characteristics excess capacity, internal and external incentives to overproduce, and the willingness to offer customer concessions to absorb the unwanted inventory they could fall into the same trap of harmful overproduction, Sedatole said.

The study, which appears in the journal Contemporary Accounting Research, was recently named the paper with the greatest potential impact on practice by the Management Accounting Section of the American Accounting Association.

###



[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?


AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.


Source: http://www.eurekalert.org/pub_releases/2012-01/msu-htb012512.php

the x factor execution execution facebook music facebook music daphne guinness daphne guinness

Lively NKorean capital celebrates Lunar New Year (AP)

PYONGYANG, North Korea ? North Koreans bundled against the freezing cold paid respects again to late leader Kim Jong Il in Pyongyang's main plaza Monday and celebrated the Lunar New Year holiday with colorful flowers and children's games.

A massive portrait of Kim Jong Il, absent after the mourning period for his death last month, has been restored at the vast Kim Il Sung Square. People stood in line to bow and lay single red flowers ? the late leader's namesake "kimjongilia" begonias ? made of fabric.

The capital city that was barren and somber for several weeks is filled with color again: flower beds and planters bursting with blossoms and the red, white and blue national flag fluttering from signposts. Banners celebrating the year and posters marking the holiday called "Sol Myong Jol" here were pinned to buildings and walls.

The North Korean year "Juche 101" counts from 1912, the year founder Kim Il Sung was born.

The holiday comes as new leader Kim Jong Un, who has pledged to uphold his father's "military first" policy, visits military units. North Korea recently credited him with commanding nuclear tests and working closely with his father on military and economic matters, dismissing other countries' doubts about his ability to lead a country with an active nuclear program and chronic food shortages.

The new era of leadership comes as North Korea prepares to celebrate the 100th anniversary in April of the birth of national founder, late President Kim Il Sung.

In downtown Pyongyang, lanterns printed with "2012" and "Congratulations" dangled from the eaves of Pothong Gate. At the plaza in front of the Pyongyang Grand Theater, hundreds of children scampered and shouted as they flew kites and played traditional Korean games in freezing temperatures.

Pyongyang residents said they were encouraged to celebrate the holiday as they usually do, despite the death of Kim Jong Il, only the second leader North Koreans have known since the Democratic People's Republic of Korea was founded in 1948. State television aired a segment late Sunday on making rice cake soup, a traditional New Year's meal in both Koreas.

At the Mangyongdae Schoolchildren's Palace, high-ranking military and political officials watched an annual song-and-dance performance by students and a troupe of performers from the ethnic Korean community in Japan.

On Mansudae Street, Ro Chang Hae said his first emotion on Lunar New Year's Day was to miss the late leader.

"My eyes sting with tears whenever I think about how he provided us with such a comfortable home and always worried so much about us year after year," he told The Associated Press.

His granddaughters, an 8-year-old dressed in a school uniform and a 3-year-old wearing in a pink Korean dress, bowed as they wished him well.

The girls poured a tumbler of Korean liquor for him, saying: "Grandfather, we hope you'll be healthy and hope for your longevity."

Ro, 68, said the whole family would gather at lunchtime for rice cake soup.

___

Follow AP's North Korea coverage on Twitter at twitter.com/newsjean and twitter.com/dguttenfelder.

Source: http://us.rd.yahoo.com/dailynews/rss/nkorea/*http%3A//news.yahoo.com/s/ap/20120123/ap_on_re_as/as_nkorea_new_year

matthew shepard matthew shepard aaron curry aaron curry ios 5 features ios 5 features ellen degeneres show

Rowley to receive Japan Prize for her role in the development of targeted cancer therapy

[ Back to EurekAlert! ] Public release date: 24-Jan-2012
[ | E-mail | Share Share ]

Contact: John Easton
john.easton@uchospitals.edu
773-795-5225
University of Chicago Medical Center

Janet Davison Rowley, MD, the Blum-Riese Distinguished Service Professor of Medicine, Molecular Genetics & Cell Biology and Human Genetics at the University of Chicago, will share the 2012 Japan Prize for Healthcare and Medical Technology with Brian J. Druker, MD, from the Oregon Health and Science University, and Nicholas B. Lydon, PhD, formerly with Novartis. They were chosen for their roles in the development of the first precisely targeted anti-cancer drug, called imatinib (Gleevec).

The three recipients, according to the Japan Prize Foundation's announcement on Jan. 25, "have made significant contributions to society by achieving momentous scientific and technological breakthroughs in creating and promoting new technologies for medical diagnosis and treatment."

They each will receive a Certificate of Merit, a Japan Prize Medal and an equal share of 50 million Japanese yen (approximately $215,000 apiece).

Imatinib is a highly effective leukemia medication with few side effects. Most conventional treatments for cancer have been based on their ability to kill rapidly dividing cells. The challenge has been finding a treatment that doesn't harm healthy cells. A series of discoveries enabled the prize winners to develop a more focused medication, designed to interfere with the specific proteins that cause rapid multiplication of the cells that cause chronic myelogenous leukemia (CML), but without damaging healthy cells.

Rowley, Druker and Lydon were key players in a four-decade sequence of breakthroughs leading to the development of Gleevec. It began in the 1960s when two Philadelphia researchers Peter Nowell and David Hungerford found that patients with CML had an abnormally small chromosome 22 in their tumor cells, which was labeled the "Philadelphia" chromosome.

In 1973, using newly developed methods for visualizing segments of chromosomes, Rowley showed that chromosomes from CML cells did not lose genetic material, but rather they exchanged it, a phenomenon she has described in several types of leukemia.

The Philadelphia chromosome was the result of such a translocation. In patients with CML, a crucial segment of chromosome 22 broke off and moved to chromosome 9, where it did not belong. At the same time, a tiny piece of chromosome 9, which included an important cancer-causing gene, had moved to the breakpoint on chromosome 22. Because of this transfer from one chromosome to another, important genes that regulated cell growth and division were no longer located in their normal positions on the chromosome.

Other scientists used this discovery as a road map to narrow the search for specific genes that were disrupted by chromosome translocations. In 1993, Lydon a medicinal chemist at Ciba-Geigy, later purchased by Novartis began a collaboration with Druker, who had created cellular models of the genetic changes that drive CML. The two physicians developed the lead candidate drug from this program, then known as STI-571, and showed that Lydon's drug exerted powerful effects against Druker's CML cells.

In subsequent clinical trials, led by Druker, imatinib "shocked the world of clinical medicine," according to the Japan Prize Foundation. It demonstrated dramatic clinical effectiveness in reducing leukemia cells, achieving long-term remissions in more than 90 percent of patients with CML. It was approved by the Food and Drug Administration in 2001 and has proved effective against several other cancers caused by similar genetic mechanisms.

"Before the development of the molecularly targeted drug imatinib, CML was a fatal disorder where patients progressed to blastic crisis within a few years and died due to a treatment-refractory acute leukemia," notes the Foundation's Award Citation. The molecular-targeting approach used to develop Imatinib, has given "great hopes for the future of cancer drug development."

For this "extraordinary achievement, the development of a revolutionary therapy for cancers," the Foundation has deemed Rowley, Druker and Lydon "most eminently deserving of the 2012 Japan Prize given to honor contributions in the fields of Healthcare and Medical Technology."

The Japan Prize Presentation Ceremony will be held in April in the presence of Their Majesties, the Emperor and Empress of Japan, with leaders "from every field of endeavor" in attendance.

Rowley, 86, has received many honors, including the Lasker Award, the National Medal of Science and the Presidential Medal of Freedom, the nation's highest civilian honor. In December, the American Society of Hematology honored Rowley and Druker with its 2011 Ernest Beutler Lecture and Prize for their work on CML. Druker and Lydon received the Lasker Award in 2009.

"Janet is a pioneer in what is now called 'translational research,' the direct application of laboratory studies to understanding and treating human disease," said leukemia specialist Richard Larson, MD, professor of medicine at the University of Chicago and one of the prinicipal investigators in the initial trials of imatinib. "She opened a window that allowed us to see the genetic basis of the leukemias and other cancers."

Rowley's contributions to identifying chromosomal abnormalities in leukemias and lymphomas have changed the way these diseases are diagnosed and treated. Today, newer techniques can identify the DNA damage within individual cells, offering a much more precise diagnosis of disease and more effective treatments.

She continues to head an active laboratory at the University of Chicago Medical Center that focuses on the connections between genetic changes and cancer.

###


[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?


AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.


[ Back to EurekAlert! ] Public release date: 24-Jan-2012
[ | E-mail | Share Share ]

Contact: John Easton
john.easton@uchospitals.edu
773-795-5225
University of Chicago Medical Center

Janet Davison Rowley, MD, the Blum-Riese Distinguished Service Professor of Medicine, Molecular Genetics & Cell Biology and Human Genetics at the University of Chicago, will share the 2012 Japan Prize for Healthcare and Medical Technology with Brian J. Druker, MD, from the Oregon Health and Science University, and Nicholas B. Lydon, PhD, formerly with Novartis. They were chosen for their roles in the development of the first precisely targeted anti-cancer drug, called imatinib (Gleevec).

The three recipients, according to the Japan Prize Foundation's announcement on Jan. 25, "have made significant contributions to society by achieving momentous scientific and technological breakthroughs in creating and promoting new technologies for medical diagnosis and treatment."

They each will receive a Certificate of Merit, a Japan Prize Medal and an equal share of 50 million Japanese yen (approximately $215,000 apiece).

Imatinib is a highly effective leukemia medication with few side effects. Most conventional treatments for cancer have been based on their ability to kill rapidly dividing cells. The challenge has been finding a treatment that doesn't harm healthy cells. A series of discoveries enabled the prize winners to develop a more focused medication, designed to interfere with the specific proteins that cause rapid multiplication of the cells that cause chronic myelogenous leukemia (CML), but without damaging healthy cells.

Rowley, Druker and Lydon were key players in a four-decade sequence of breakthroughs leading to the development of Gleevec. It began in the 1960s when two Philadelphia researchers Peter Nowell and David Hungerford found that patients with CML had an abnormally small chromosome 22 in their tumor cells, which was labeled the "Philadelphia" chromosome.

In 1973, using newly developed methods for visualizing segments of chromosomes, Rowley showed that chromosomes from CML cells did not lose genetic material, but rather they exchanged it, a phenomenon she has described in several types of leukemia.

The Philadelphia chromosome was the result of such a translocation. In patients with CML, a crucial segment of chromosome 22 broke off and moved to chromosome 9, where it did not belong. At the same time, a tiny piece of chromosome 9, which included an important cancer-causing gene, had moved to the breakpoint on chromosome 22. Because of this transfer from one chromosome to another, important genes that regulated cell growth and division were no longer located in their normal positions on the chromosome.

Other scientists used this discovery as a road map to narrow the search for specific genes that were disrupted by chromosome translocations. In 1993, Lydon a medicinal chemist at Ciba-Geigy, later purchased by Novartis began a collaboration with Druker, who had created cellular models of the genetic changes that drive CML. The two physicians developed the lead candidate drug from this program, then known as STI-571, and showed that Lydon's drug exerted powerful effects against Druker's CML cells.

In subsequent clinical trials, led by Druker, imatinib "shocked the world of clinical medicine," according to the Japan Prize Foundation. It demonstrated dramatic clinical effectiveness in reducing leukemia cells, achieving long-term remissions in more than 90 percent of patients with CML. It was approved by the Food and Drug Administration in 2001 and has proved effective against several other cancers caused by similar genetic mechanisms.

"Before the development of the molecularly targeted drug imatinib, CML was a fatal disorder where patients progressed to blastic crisis within a few years and died due to a treatment-refractory acute leukemia," notes the Foundation's Award Citation. The molecular-targeting approach used to develop Imatinib, has given "great hopes for the future of cancer drug development."

For this "extraordinary achievement, the development of a revolutionary therapy for cancers," the Foundation has deemed Rowley, Druker and Lydon "most eminently deserving of the 2012 Japan Prize given to honor contributions in the fields of Healthcare and Medical Technology."

The Japan Prize Presentation Ceremony will be held in April in the presence of Their Majesties, the Emperor and Empress of Japan, with leaders "from every field of endeavor" in attendance.

Rowley, 86, has received many honors, including the Lasker Award, the National Medal of Science and the Presidential Medal of Freedom, the nation's highest civilian honor. In December, the American Society of Hematology honored Rowley and Druker with its 2011 Ernest Beutler Lecture and Prize for their work on CML. Druker and Lydon received the Lasker Award in 2009.

"Janet is a pioneer in what is now called 'translational research,' the direct application of laboratory studies to understanding and treating human disease," said leukemia specialist Richard Larson, MD, professor of medicine at the University of Chicago and one of the prinicipal investigators in the initial trials of imatinib. "She opened a window that allowed us to see the genetic basis of the leukemias and other cancers."

Rowley's contributions to identifying chromosomal abnormalities in leukemias and lymphomas have changed the way these diseases are diagnosed and treated. Today, newer techniques can identify the DNA damage within individual cells, offering a much more precise diagnosis of disease and more effective treatments.

She continues to head an active laboratory at the University of Chicago Medical Center that focuses on the connections between genetic changes and cancer.

###


[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?


AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.


Source: http://www.eurekalert.org/pub_releases/2012-01/uocm-rtr012312.php

cleveland cavaliers war horse k cups best buy we bought a zoo we bought a zoo ipad accessories