Monday, November 21, 2011

California unemployment rate falls to 11.7 percent

SACRAMENTO ? California?s unemployment rate fell slightly to 11.7 percent in October from 11.9 percent a month earlier as the state added nearly 26,000 jobs in areas including professional and business services, education and health services, the state Employment Development Department said Friday.

The job gain is remarkable in light of the fact that the United States added a total of 80,000 jobs in the same period, said Michael Bernick, a former director of EDD who is now a fellow at the Milken Institute.

?This is one of the best job numbers, best job months we?ve seen in the past four years,? Bernick said. ?On the other hand, it?s still an economy that?s going to have a number of fits and starts. We still have a long way to go to make up those 1.4 million payroll jobs lost between 2008 and 2010, and we still have over 2 million Californians unemployed.?

California?s unemployment rate has hovered around 12 percent for months and has been stuck above 11 percent since 2009. The state?s jobless rate is the second highest in the nation, behind Nevada, which had a rate of 13.4 percent in September, the most recent data available.

California?s new payroll jobs were spread among various sectors of the economy, including some in the hard-hit construction field, which is a positive sign, Bernick said.

Steve Levy, an economist with the Center for Continuing Study of the California Economy in Palo Alto, said the state?s urban coastal regions are leading the economic comeback, benefiting from the growth in technology, trade and tourism.

Job growth has also returned to the Inland Empire, which added 15,200 jobs in the last year, Levy said.

In October 2010, California?s unemployment rate was 12.5 percent. The state has added 192,000 jobs since January.

The national unemployment rate also dropped slightly to 9 percent in October.

About 495,000 people continue to receive unemployment insurance benefits in California, and nearly 69,000 new claims were received in October, the Employment Development Department said.

Source: http://www.smdailyjournal.com/article_preview.php?id=222986

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Eyeing Deal Flow, Bain Capital Ventures Heads West; Opens Silicon Valley Office

Bain Ventures, the Boston-based venture capital arm of private equity firm of Bain Capital, has recently opened a Palo Alto office, the firm's first presence on the West Coast. The new office is being led by Bain partner (and former Trilogy alum) Ajay Agarwal. "We needed to be part of the ecosystem out here, and we want to build a business out here for the long term," he explains. Agarwal says that the Palo Alto office will focus on sourcing Series A opportunities and growth capital for startups, in the range of $3 to $5 million. The fund will be investing out of Bain's $525 million fund.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ICj5eljdlvg/

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32 homes lost to Reno fire; scores saved

Arcing power lines likely caused the wind-fueled wild fire that destroyed 32 homes and damaged at least 40 more, Reno fire investigators said Saturday.

Nevada Gov. Brian Sandoval said it's a miracle scores more weren't lost.

The governor said after a helicopter tour of the area that while the loss of homes was a tragedy, the 400 firefighters on the lines are heroes for saving more than 4,000 houses that could have burned.

The 2,000-acre fire is now 65 percent contained, Reno Fire Chief Mike Hernandez said at a morning press conference. It could be 90 percent contained or better by Sunday, he said.

The nearly 10,000 people who were evacuated on Friday were given permission to start returning to their homes.

Hernandez said there's no official cause yet, but all signs point to the power lines. He said investigators ruled out the possibility that teenage partiers or a homeless campfire was to blame.

"It's not uncommon to have power lines arcing and that kind of thing when you have 50, 60 mph winds," Hernandez said.

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He said 50 fire engines worked on the fire overnight and 140 firefighters were on the job Saturday morning.

The fire was blamed for the death of a 74-year-old man who had a heart attack while trying to flee. It also left a firefighter first- and second-degree burns and sent 16 people to hospitals, many for smoke inhalation.

At least 400 firefighters from as far as 260 miles away flocked to Reno early Friday as multiple fires roared from the Sierra Nevada foothills in northwestern Nevada and spread to the valley floor.

PhotoBlog: Residents return home to view fire damage

The wind grounded firefighting helicopters and made it difficult for firefighters to approach Caughlin Ranch, the affluent subdivision bordering pine-forested hills where the fire likely began after 12:30 a.m. It also helped the fire spread from 400 acres to more than 3 square miles.

The gusts were comparable to the Santa Ana winds that often aggravate and spread wildfires in the hills surrounding Los Angeles, officials said.

"The wind is horrific," said Reno spokeswoman Michele Anderson. "We just watched a semi nearly blow over on the freeway."

Hernandez said residents ran from their homes dressed in pajamas, frantically trying to grab as many possessions as possible. One elderly man dressed in his underwear ran out with a blanket wrapped around his body.

Dick Hecht said that when he escaped from his home with his wife, "the whole mountain was on fire," and it was so windy he could barely stand.

"It was like a tornado," he said.

The couple tried to return to their home before morning, but they were turned back by high winds and erupting flames. As they made their way back down the mountain roads, flames burned less than 40 yards from their vehicle.

The Associated Press and msnbc.com staff contributed to this report.

Source: http://www.msnbc.msn.com/id/45366977/ns/weather/

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Sunday, November 20, 2011

At British hearing, stars turn tables on tabloids

FILE - In this Monday, May 9, 2011 file photo of British actor Hugh Grant, as he poses with fans as he arrives for the European premiere of the 'Fire in Babylon' film at a cinema in London. Film star Hugh Grant, "Harry Potter" author J.K. Rowling, and the father of missing girl Madeleine McCann are among those due to testify starting Monday Nov. 21, 2011 and over the next week at the U.K. inquiry into media ethics _ a judicial body that could recommend sweeping changes to the way Britons get their news. (AP Photo/Lefteris Pitarakis, File)

FILE - In this Monday, May 9, 2011 file photo of British actor Hugh Grant, as he poses with fans as he arrives for the European premiere of the 'Fire in Babylon' film at a cinema in London. Film star Hugh Grant, "Harry Potter" author J.K. Rowling, and the father of missing girl Madeleine McCann are among those due to testify starting Monday Nov. 21, 2011 and over the next week at the U.K. inquiry into media ethics _ a judicial body that could recommend sweeping changes to the way Britons get their news. (AP Photo/Lefteris Pitarakis, File)

(AP) ? They've been hacked and libeled, stalked and slandered. Now the public figures whose personal lives have long offered grist for Britain's news mill have been given a rare chance to confront their tabloid tormentors.

Film star Hugh Grant, "Harry Potter" author J.K. Rowling, and the father of missing girl Madeleine McCann are among those due to testify over the next week at the U.K. inquiry into media ethics ? a judicial body that could recommend sweeping changes to the way Britons get their news.

The nationally televised inquiry would give many of those in the public eye an unprecedented chance to challenge those who write about them, said Cary Cooper, a professor at northern England's Lancaster University and the author of "Public Faces, Private Lives."

"This is the first time the celebrities have been able to strike back," Cooper said. "I think it will have an impact, and the media might ? for a while at least ? pull away."

Speaking ahead of the testimony, victims' lawyer David Sherborne told the inquiry multiple tales of shattered privacy, broken lives and even suicides stemming from relentless media intrusion.

"When people talk of public interest in exposing the private lives of well-known people or those close to them, this is the real, brutally real impact which this kind of journalism has," Sherborne said.

Britain's media ethics probe was set up in the wake of the scandal over phone hacking at Rupert Murdoch's News of the World, which was shut in July after it became clear that the tabloid had systematically broken the law. Most horrific was the news that the tabloid had broken into the phone of murdered schoolgirl Milly Dowler in its search for scoops.

Cooper acknowledged that celebrities like Grant or actress Sienna Miller ? another star due to give evidence ? have struggled to get much in the way of public sympathy even when it was shown that their privacy had been invaded. But he said their appearance alongside crime victims such as Bob and Sally Dowler or Gerry McCann could mark a shift in attitudes.

"They're going to get hit worse by the Milly Dowler family and witnesses of that ilk," he said.

Sherborne, in a two-and-half-hour-long presentation Wednesday, promised to make journalists squirm.

Most powerful among his accusations was the suggestion that media coverage had driven some celebrities' family members to the brink of suicide ? or beyond.

Sherborne said that former Formula One racing boss Max Mosley believed that the suicide of his 39-year-old son Alexander could also be at least in part attributed to "the very public humiliation" dealt to his father by the News of the World's expose of his sexual shenanigans.

He went on to outline the case of soccer player Garry Flitcroft, whose life was turned upside down by a newspaper's revelation that he'd cheated on his wife. Flitcroft's children were teased in school, his family was tracked by helicopter and his ailing father fell into a deepening depression before taking his own life, the lawyer said.

Another case involved Charlotte Church, the British singer who shot to stardom as a teenager. Sherborne said she'd been subjected to waves of harassment. Photographers chased her in cars, tried to take pictures up her skirt and cut holes in bushes to install secret cameras. So hungry was the press for scoops about her private life that journalists revealed she was pregnant before she had even told her parents.

Worse still was the News of the World's expose of her father's affair in 2005. Sherborne said that Church's mother had attempted suicide shortly before the story ran, but that rather than hold back, "the newspaper approached her mother directly and persuaded her to give them an exclusive, despite her fragile condition, as part of a Faustian pact that in return they would not run another lurid follow-up story about her husband's affair."

Others testifying over the next seven days include comic actor Steve Coogan, whose romantic exploits have been exhaustively documented, and broadcaster Anne Diamond, who was targeted by Murdoch's press after she challenged the mogul about his ethics.

Chris Jeffries, who was wrongly implicated in the murder of his tenant, is also due to give evidence, along with soccer star Paul Gascoigne's ex-wife Sheryl; human rights activist Jane Winter; former army intelligence officer Ian Hurst; and Margaret Watson, whose teenage daughter Diane was stabbed to death in 1991.

___

Online:

The Leveson Inquiry: http://www.levesoninquiry.org.uk/

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2011-11-20-EU-Britain-Tabloids-on-Trial/id-f9a6e620e97c4c518f627bd2686f5c92

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House sets Friday vote on balanced budget proposal (tbo)

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UFC 139 video: Faber, Bowles and Benavidez agree Cruz is good, but far from scary or unbeatable

Dominick Cruz has beaten three guys in attendance at today's UFC 139 prefight press conference, but that doesn't mean any of them would hesitate for a second if offered another shot at the 135-pound title.

All three respect Cruz, but don't view him as a dangerous guy.

"I wasn't having too much trouble hitting him. I hit him plenty of times. I just wasn't throwing as many punches," Faber said. "But he's not scary. I'll fight him any day. Every day, all day."

Faber lost to Cruz back at UFC 132. The fight was razor thin although the judges gave the unanimous decision to Cruz, 50-45, 49-46 and 48-47.

FightMetric had Cruz outlanding Faber 97-58. He also attempted 246 strikes compared to 181 by Faber. Cruz was 4-of-13 on takedowns as well. Faber explained today that he has to do a better job of playing to the judges, who he's not exactly fond of.

"I learned when you're doing P.R. and you're talking a really large group that isn't really familiar with mixed martial arts ... they're always saying 'hey, explain it like you're talking with kindergarteners who've never seen the sport before. I think i need to do that with judges," joked Faber. "I want to paint a picture that I'm winning this fight for someone who doesn't know what they're doing."

Faber knows Cruz is a good points fighter and he'll have to adjust his game if he's going to take out the champ the next time they meet.

"I have to be cognizant of the fact that I'm playing to a couple of people who's opinions matter. I don't like fighting like that, but sometimes you have to," said Faber.

Brian Bowles, Faber's opponent on Saturday night agreed that Cruz is good, but because he's awkward and essentially does everything you're not supposed to when striking.

Joe Benavidez, who lost to Cruz two times, said you really have to mix up the striking with some takedowns to win over the judges when you face the champ.

Watch UFC 139 right here on Yahoo! Sports

Source: http://sports.yahoo.com/mma/blog/cagewriter/post/UFC-139-video-Faber-Bowles-and-Benavidez-agree?urn=mma-wp9575

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Saturday, November 19, 2011

Barnes makes the case for Newt (Politico)

Fred Barnes, the Weekly Standard executive editor who - as JMart noted - presaged the John McCain comeback in 2007, makes the case for why Newt Gingrich's current primary boom is to be taken seriously, despite the frequent discussion of the former House Speaker's "baggage:"

Gingrich probably has at least as good a chance of getting a pass on his various transgressions in 2012 as Reagan, Schwarzenegger, and Clinton did. If 2012 were an ordinary election year, Gingrich would be doomed by his gaffes, three marriages, and fleeting alliances with Hillary Clinton on health care and Nancy Pelosi on global warming. But 2012 is different. Republicans are fixated on defeating President Obama. They?re obsessed. They think about little else. And if that means choosing a candidate with a lurid past and a penchant for self-destruction to beat Obama, Republicans are likely to swallow hard and nominate Gingrich.

In their hearts, Republicans have always wanted a candidate who is bold and tough, and Gingrich is. They?re not sure about Mitt Romney, who is cautious, conventional, and sounds more conciliatory than Gingrich. There?s a reason Romney?s support has been stuck for months at roughly a quarter of the Republican electorate. His blandness explains it. Gingrich is anything but bland.

To rally behind Gingrich, Republicans wouldn?t have to forgive his past sins, just treat them as irrelevant. They already talk about how sweet it would be to see Gingrich crush Obama in presidential debates. They don?t see Romney that way.

And yet, Barnes notes, much of that depends on whether it's "good Newt" or "bad Newt" who shows up in the coming weeks, a point Jonathan and John Harris made earlier this week:

But Romney has two important traits Gingrich lacks: carefulness and self-discipline. He doesn?t shoot off his mouth recklessly, as Gingrich often has. In May, the former House speaker practically blew up his campaign by attacking Representative Paul Ryan?s Medicare reform plan as ?right-wing social engineering.? He later apologized.

This is a point we made last night as Gingrich talked about his need to survive scandal vetting in order to be taken seriously - at least in the primary, the present may be more problematic for the historically undisciplined Gingrich.

Continue Reading

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//us.rd.yahoo.com/dailynews/external/politico_rss/rss_politico_mostpop/http___www_politico_com_news_stories1111_68746_html/43656229/SIG=11m04k81t/*http%3A//www.politico.com/news/stories/1111/68746.html

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