The New Old Age Blog: Time to Recognize Mild Cognitive Disorder?

The Diagnostic and Statistical Manual of Mental Disorders, published and periodically updated by the American Psychiatric Association, is one of those documents few laypeople ever read, but many of us are affected by.

It can make it easier or harder to get an insurance company or Medicare to cover treatments, for example. It factors into a variety of legal and governmental decisions.

And on a personal basis, a psychiatric diagnosis may be welcome (having a name and a treatment plan for what’s bothering us can be comforting) or not (are we really suffering from a mental disorder if we seem depressed after a family member dies?).

That last question refers to a change in the new DSM5, to be published in May, that has generated considerable controversy and that I discussed in an earlier post: the removal of the “bereavement exclusion,” once part of the diagnosis of Major Depressive Disorder.

Another element of the revised DSM could also affect readers: It will include something called Mild Neurocognitive Disorder. The task force revising the manual wanted to align psychiatry with the rest of medicine, which has already begun to distinguish between levels of impairment, said its chairman, David Kupfer, a University of Pittsburgh psychiatrist.

True enough, as we have reported before. Neurologists call it Mild Cognitive Impairment, a stage where cognitive decline becomes noticeable enough to affect daily functioning, yet people can still live independently and have not progressed to dementia.

In fact, a large proportion of people with mild cognitive problems never will develop dementia — but doctors and researchers cannot yet determine who will and who won’t. Biomarkers that could identify the biological brain changes that presage dementia are still years away.

Will it be helpful, then, for health professionals using the DSM5 — most of them not psychiatrists, but primary care doctors — to begin diagnosing Mild Neurocognitive Disorder? Particularly as there is no treatment that can reverse it or reliably slow its progression, if it would progress?

Dr. Ronald Petersen, director of the Mayo Clinic’s Alzheimer’s Disease Research Center and a member of the working group that developed the new DSM5 criteria, said he thought the newly recognized disorder would be useful. “The predementia phase is becoming increasingly important,” he told me in an interview.

Counseling could help people compensate for the memory loss and other deficits they are experiencing, for example. With a DSM-recognized diagnosis, those approaches are more likely to be covered by insurers.

Besides, “one argument against Alzheimer’s therapies is that we wait too late, when there’s too much damage to the central nervous system to repair,” Dr. Petersen said, referring to several recent disappointing drug trials. In the future, with earlier diagnoses, “you may be able to intervene, stop the process and forestall the dementia.”

But as we have seen with screening tests for other diseases, early detection does not always lead to better health or longer lives. It can, however, lead to unnecessary treatments and procedures involving risks of their own. Could that happen with Mild Neurocognitive Disorder?

“It will lead to wild overdiagnosis,” predicted Allen Frances, an emeritus professor of psychiatry at Duke and the chairman of the task force that developed the previous DSM edition. Indeed, about a quarter of people initially diagnosed with mild cognitive impairment are later determined to be normal, a prominent researcher told my colleague Judy Graham last year.

“People will get unnecessary tests and start getting weird treatments that have no proven efficacy,” said Dr. Frances, who has criticized a number of DSM5 changes. “They’re going to worry like crazy about being demented.”

Dr. Petersen agreed that it was a legitimate concern, but “by and large, we’re becoming better at distinguishing between the normal cognitive effects of aging and disease.” (The American Psychiatric Association will publish a specialized DSM for primary care physicians, Dr. Kupfer pointed out, to help guide them through diagnoses.)

It is hard for patients and families to know how to react when experts disagree. But keep in mind that contemporary health care aims for what is called shared decision-making. That means patients and professionals discuss options and weigh the risks and benefits of treatments and procedures, their likely outcomes, patients’ preferences, and come to agreement on how to proceed. This essay in the New England Journal of Medicine calls shared decision-making “the pinnacle of patient-centered care.”

So when Dr. Frances refers to the DSM5 as “a guide, not a bible,” and urges skepticism about some of its diagnoses, he is advocating an approach that patients and families should probably bring to any medical decision.

Seeking further information, asking questions, assessing options — those are reasonable responses if, a few weeks after a loved one’s death, a doctor says you may have major depression. Or if she thinks your memory loss could mean Mild Neurocognitive Disorder.

“The shorter the evaluation, the less the person knows you, the less he or she can explain and justify the diagnosis, the more tests and treatments that will result, the more a person should be cautious and get a second opinion,” Dr. Frances said.

Whatever the DSM5 says, it’s hard to argue with that.

Paula Span is the author of “When the Time Comes: Families With Aging Parents Share Their Struggles and Solutions.”

Read More..

DealBook: S.E.C. Pick Is Ex-Prosecutor, in Signal to Wall Street

9:13 p.m. | Updated

The White House delivered a strong message to Wall Street on Thursday, taking the unusual step of choosing two former prosecutors as top financial regulators.

But translating that message into action will not be easy, given the complexities of the market and Wall Street’s aggressive nature.

At a short White House ceremony, President Obama named Mary Jo White, the first female United States attorney in Manhattan, to run the Securities and Exchange Commission. Mr. Obama also renominated Richard Cordray as the director of the Consumer Financial Protection Bureau, a position he has held for the last year under a temporary recess appointment without Senate approval.

With the appointments, the president showed a renewed resolve to hold Wall Street accountable for wrongdoing, extolling his candidates’ records as prosecutors.

Ms. White spent more than a decade as a top federal prosecutor in New York City, overseeing the prosecution of the crime boss John Gotti and those responsible for the 1993 World Trade Center bombing. As an Ohio prosecutor, Mr. Cordray filed lawsuits against Bank of America and the American International Group.

“It’s not enough to change the law,” Mr. Obama said. “We also need cops on the beat to enforce the law.”

Still, Ms. White and Mr. Cordray face their own challenges.

While Ms. White, 65, is best known as an aggressive prosecutor, she also built a lucrative legal practice defending Wall Street executives, a potential concern for consumer advocates. And she lacks experience in the financial minutiae central to a regulatory role.

Mr. Cordray, 53, presents another potential problem for the White House. The Senate last year declined to confirm him in the face of Republican and Wall Street opposition to the newly created consumer bureau. Several Republicans on Thursday again voiced their concerns.

“There’s absolutely no excuse for the Senate to wait any longer to confirm him,” Mr. Obama said.

Both Midwestern natives, Ms. White and Mr. Cordray arrived in Washington as outsiders. A five-time “Jeopardy” champion from Ohio, Mr. Cordray became the consumer bureau’s enforcement chief after losing re-election for state attorney general. As Ohio’s top prosecutor, he became known as the Midwestern sheriff of Wall Street.

Ms. White, who was born in Kansas City, Mo., changed career paths after graduating with a master’s degree in psychology. She obtained a law degree from Columbia University in 1974, and a few years later, began her first stint as a federal prosecutor in Manhattan.

She ultimately became the United States attorney in Manhattan, earning a reputation as a tenacious prosecutor with an independent streak. Ms. White embraced the often-repeated joke that her office was the United States attorney for the “sovereign,” rather than Southern, district of New York.

In 1997, aides to Manhattan District Attorney Robert M. Morgenthau accused her of trying to thwart a state insider trading investigation by allowing a defendant charged by the district attorney’s office to plead guilty to federal charges. Doing so effectively ended Mr. Morgenthau’s case, but Ms. White was unapologetic. “To prosecute such crimes under only state law diminishes their seriousness,” she said at the time.

As the chief federal prosecutor in Manhattan, Ms. White pursued white-collar crime and Wall Street fraud. She secured a $340 million fine against Daiwa Bank for illegally covering up trading losses and other crimes.

She distinguished her career with a series of terrorism cases. She supervised the original investigation into Osama bin Laden and Al Qaeda, and oversaw six major trials, including those stemming from the 1993 World Trade Center bombing and a plot to blow up New York landmarks.

Patrick J. Fitzgerald, the former United States attorney in Chicago who previously worked under Ms. White, called her “a force of nature.”

She also trained a generation of federal prosecutors. Two former assistants became high-level S.E.C. officials: Robert S. Khuzami, the departing enforcement chief, and George S. Canellos, his deputy. Preet Bharara, the current United States attorney in Manhattan, whom Ms. White hired in 1999, emphasized her “legendary work ethic,” citing her 1 a.m. e-mail dispatches. Her philosophy, Mr. Bharara said, was that prosecuting wrongdoing was “not just about earning notches on your belt.”

While former employees described her as “no nonsense,” she was often spotted sipping a Bud Light at a weekly social gathering for junior prosecutors. And despite being barely 5 feet tall, she also was an exuberant point guard in a local lawyers’ basketball league, and once arrived at a tennis match on a red motorcycle, while Helen Reddy’s “I Am Woman” blared loudly.

With her prosecutorial victories and independent political status, Ms. White is expected to receive broad support on Capitol Hill. Senator Charles E. Schumer of New York joined a chorus of Democratic enthusiasm on Thursday, declaring that Ms. White was a “tough-as-nails prosecutor.”

But she could face questions about her command of Wall Street arcana.

Regulatory chiefs are often market experts or academics. If confirmed, Ms. White will succeed Elisse B. Walter, a longtime S.E.C. official, who took over as chairwoman after Mary L. Schapiro stepped down as the agency’s leader in December. Ms. Schapiro, a seasoned policy maker and specialist in market structure, overhauled the agency after it was blamed for missing the warning signs of the financial crisis. Ms. White, in contrast, built her career on the law-and-order side of the securities industry, with just a brief stint as a director of the Nasdaq.

The gaps in her résumé could complicate Ms. White’s agenda in the face of fierce Wall Street lobbying. Under the next chairman, the agency must write dozens of rules to carry out the Dodd-Frank act, a regulatory overhaul passed in response to the crisis. The agency also must grapple with the increasingly complex markets and rapid-fire trading that dominate Wall Street.

People close to the S.E.C. note, however, that her husband, John W. White, is a veteran of the agency. From 2006 through 2008, he was head of the S.E.C.’s division of corporation finance.

Ms. Schapiro also argued that Ms. White’s outsider status could inject new life into the agency. “Nobody comes in an expert across the board,” Ms. Schapiro said. “A fresh look on some of these policy issues might be exactly what we need.”

Ms. White could face additional questions about her career, a revolving door in and out of government. In private practice, she defended some of Wall Street’s biggest names, including Kenneth D. Lewis, a former chief of Bank of America. As the head of litigation at Debevoise & Plimpton, she also represented JPMorgan Chase and the board of Morgan Stanley.

Barbara S. Jones, who retired recently from the federal bench in Manhattan and now practices law at the firm Zuckerman Spaeder, said Ms. White, a close friend, would benefit from both prosecuting and defending executives over her career. “She has been on both sides,” Ms. Jones said. “She will be tough when she has to be, but she’ll be fair.”

At the White House on Thursday, Ms. White spoke only briefly, saying she would work “to protect investors and to ensure the strength, efficiency and the transparency of our capital markets.” Mr. Obama noted that Ms. White, whose 43rd wedding anniversary fell on Thursday, was a childhood fan of “The Hardy Boys,” as he was, adding that she “built a career the Hardy boys could only dream of.” “You don’t want to mess with Mary Jo,” he said.

Peter Baker and Kitty Bennett contributed reporting.

A version of this article appeared in print on 01/25/2013, on page A1 of the NewYork edition with the headline: Sign to Wall St. In Obama’s Picks For Regulators.
Read More..

California unions grow, bucking U.S. trend









The latest snapshot of the U.S. working class shows that unions are in trouble, their ranks thinning amid a backlash against organized labor and a still sputtering economy.


But California and a few nearby states in the Southwest are showing a vastly different picture — labor's ranks are on an upswing. The Golden State's union organizers signed up more than 100,000 new members last year, while the nation as a whole shed 400,000, according to data released Wednesday.


The reason: Latino workers.





After working hard to get here, many Latino immigrants demand respect in the workplace and are more willing to join unions in a tough economic environment, organizers say.


"There's an appetite among these low-wage workers to try and get a collective voice to give themselves opportunity and a middle-class lifestyle," said Steve Smith, a spokesman for the California Labor Federation.


Just 12.5% of the workforce was represented by unions nationwide in 2012, down from 13% the year before. But 18.4% of California's workforce was represented by a union last year, according to data from the Bureau of Labor Statistics.


The nation is paying attention to labor's ability to gain traction in states such as California.


Strong membership in California could help unions negotiate higher wages, lobby the Legislature and fend off anti-labor attacks that have become common in the Midwest. Unions in once pro-labor states like Wisconsin and Michigan have been put on the defensive by legislation aimed at eroding the bargaining power of public-sector unions.


Labor's more optimistic proponents say that California could serve as a blueprint for unions across the country as they seek to stem membership declines. The trend comes amid forecasts that the Latino population in the U.S. is likely to double in two decades.


"This has a lot to do with the changing demographics of the workforce in these states," said Ruben Garcia, a labor law professor at the University of Nevada Las Vegas. "The big campaigns in the carwash industry in L.A., the janitors in Houston and the people who work on the Strip here tend to be an immigrant Latino workforce that's willing to stand up at the workplace, sometimes with great risks."


Workers fed up with years of stagnant wages may be motivated to join a union for financial reasons. Last year, union members made $943 a week, on average, while non-union members made $742, according to the BLS.


With the economy still shaky, many California workers are also looking for more job security.


Jackie McKay, 48, is one of the new crop of California union members. A nurse in the intensive-care unit at Community Hospital Long Beach, McKay said she and colleagues decided to try to organize after a new company took over the hospital and nurses weren't comfortable with the way they were being treated.


"We were sort of seeking out someone that we felt was on our side," she said. "We needed some backup."


The Long Beach nurses voted 94 to 30 to unionize in December.


"California is doing far better than most other states and far better than the national trend" in union membership, said John Logan, a professor of labor and employment at San Francisco State University. "Unions have had both dynamic organizing efforts and very effective political influence."


Employees are often hesitant to do anything risky at work when the economy is bad and jobs are scarce. Organizers say they were successful because they harnessed frustration with growing nationwide inequality to engage members during the recession.


"To be successful in organizing unions in the United States in 2013, it's not enough just to appeal to workers on the basis of their own individual problems," said David Johnson, organizing director of the California Nurses Assn., which added five new hospitals last year. "There has to be a broader vision set forth so that people see unions and the labor movement as an answer to the corporate domination and the Wall Street greed that has devastated our country."


Still, the labor movement faces significant challenges in applying moderate successes in California to the rest of the country.


Michigan and Indiana both became "right to work" states last year, meaning unions can't collect dues as a condition of employment. Legislators in Wisconsin and Ohio recently supported bills restricting the bargaining rights of public-sector unions, though the law in Ohio was reversed by referendum.


Those actions were reflected in the numbers put out by the Bureau of Labor Statistics. The percentage of people represented by unions last year in Wisconsin fell to 12%, from 14.1% in 2011, while Indiana experienced a significant drop in union membership, to 10% of the workforce, from 12.4% the previous year.


Union membership fell fairly consistently in Rust Belt states as manufacturing jobs, once a labor stronghold, were sent overseas. The decline in unionized manufacturing isn't likely to shift as companies make efforts to return manufacturing to the United States. Auto companies, for instance, have built new plants in the South, an area traditionally resistant to unionization.


Unions don't have the same appeal to workers who change jobs frequently and think of themselves as independent workers, said Michael Lotito, a partner at the labor law firm Littler Mendelson.


"Unions are really struggling to find a message that resonates with individuals such as it did with my father's generation," he said.


But demographic shifts can be only positive for unions in the next few years, said Harley Shaiken, a labor professor at UC Berkeley. Labor has built new alliances and is going into a new, proactive phase, he said.


"Reports of labor's death have been greatly exaggerated," he said.


alana.semuels@latimes.com





Read More..

Lookin' Hot in the Cold: Technical Outerwear for Winter









Photos by Ariel Zambelich/Wired






Read More..

Country singer Gary Allan’s new album gets label’s early push






NASHVILLE, Tennessee (Reuters) – The release of country music singer Gary Allan’s new album “Set You Free,” this week, his first since undergoing vocal surgery in 2010, was not meant to happen so soon.


But when his record label, MCA Nashville, saw his new song “Every Storm (Runs out of Rain),” race up the charts in September, the label pushed the album’s release up two months from March.






“I’ve been doing this forever and it usually goes the other way,” Allan told Reuters. “It’s super exciting for me.”


Now in its 20th week on Billboard’s country chart, “Every Storm (Runs out of Rain),” peaked last week at No. 4 and has been downloaded some 685,000 times, according to Nielsen SoundScan.


Allan, 45, who has scored three country chart toppers in his 17-year career, said his latest hit was the right song at the right time for a country politically divided and seemingly down on its luck.


“It’s a song about hope,” he said. “Sometimes a song really resonates with people and the public because of the timing of its release. This is a time when our country needs hope and I think that’s why it’s doing so well.”


Allan’s voice is stronger on the album and he credits surgery he underwent in 2010 to remove a polyp from his vocal cords, which made it difficult for him to sing high notes.


“I don’t think I realized it really, but there were a few years where I couldn’t hit the falsetto notes on songs like ‘Smoke Rings in the Dark.’ After the surgery, it was like I was 18 again,” he said.


Allan, a California native who often plays down-home American rodeos and state fairs, is best known as a brooding troubadour who likes to pack an emotional punch.


TEAM OF RIVALS


“I don’t want to hear songs about how sunshiny things are,” he said. “I don’t like songs that feel like radio candy … I like the ones that make you think, laugh or cry – they pull some kind of emotion out of you.”


Allan for the first time played a part in writing every song on “Set You Free” to achieve that sentiment. He also used a team of rivals to freshen up his sound on his ninth studio album.


“I think you need to do something new to keep reinventing yourself,” he said. “I used three different producers and we were all a little competitive with each other to see who could get the best songs,” he said.


“The result was we got better quality in the songs and the recording. It’s my favorite album I’ve ever done.”


Among his favorite songs on the album is “One More Time,” a song about the death of his father in 2008, written with Hillary Lindsey and Matt Warren – co-writers on “Every Storm.”


“We just wanted to write an introspective song,” Allan said. “We kept thinking ‘What would you say when you got to the pearly gates?’, and what I would say is ‘I want one more time, I’m not ready to be there.’”


Another song, “Pieces,” describes Allan’s life philosophy.


“No matter who you meet in life, you take something from them, positive or negative,” Allan said. “That’s what the song is about, pieces of what I’ve been through and of the people I’ve met.”


MCA Nashville is part of Universal Music Group, a subsidiary of France’s Vivendi SA.


(Reporting by Vernell Hackett, editing by Eric Kelsey, desking by G Crosse)


Music News Headlines – Yahoo! News





Title Post: Country singer Gary Allan’s new album gets label’s early push
Url Post: http://www.news.fluser.com/country-singer-gary-allans-new-album-gets-labels-early-push/
Link To Post : Country singer Gary Allan’s new album gets label’s early push
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

The New Old Age Blog: Grief Over New Depression Diagnosis

When the American Psychiatric Association unveils a proposed new version of its Diagnostic and Statistical Manual of Mental Disorders, the bible of psychiatric diagnoses, it expects controversy. Illnesses get added or deleted, acquire new definitions or lists of symptoms. Everyone from advocacy groups to insurance companies to litigators — all have an interest in what’s defined as mental illness — pays close attention. Invariably, complaints ensue.

“We asked for commentary,” said David Kupfer, the University of Pittsburgh psychiatrist who has spent six years as chairman of the task force that is updating the handbook. He sounded unruffled. “We asked for it and we got it. This was not going to be done in a dark room somewhere.”

But the D.S.M. 5, to be published in May, has generated an unusual amount of heat. Two changes, in particular, could have considerable impact on older people and their families.

First, the new volume revises some of the criteria for major depressive disorder. The D.S.M. IV (among other changes, the new manual swaps Roman numerals for Arabic ones) set out a list of symptoms that over a two-week period would trigger a diagnosis of major depression: either feelings of sadness or emptiness, or a loss of interest or pleasure in most daily activities, plus sleep disturbances, weight loss, fatigue, distraction or other problems, to the extent that they impair someone’s functioning.

Traditionally, depression has been underdiagnosed in older adults. When people’s health suffers and they lose friends and loved ones, the sentiment went, why wouldn’t they be depressed? A few decades back, Dr. Kupfer said, “what was striking to me was the lack of anyone getting a depression diagnosis, because that was ‘normal aging.’” We don’t find depression in old age normal any longer.

But critics of the D.S.M. 5 now argue that depression may become overdiagnosed, because this version removes the so-called “bereavement exclusion.” That was a paragraph that cautioned against diagnosing depression in someone for at least two months after loss of a loved one, unless that patient had severe symptoms like suicidal thoughts.

Without that exception, you could be diagnosed with this disorder if you are feeling empty, listless or distracted, a month after your parent or spouse dies.

“D.S.M. 5 is medicalizing the expected and probably necessary process of mourning that people go through,” said Allen Francis, a professor emeritus at Duke who chaired the D.S.M. IV task force and has denounced several of the changes in the new edition. “Most people get better with time and natural healing and resilience.”

If they are diagnosed with major depression before that can happen, he fears, they will be given antidepressants they may not need. “It gives the drug companies the right to peddle pills for grief,” he said.

An advisory committee to the Association for Death Education and Counseling also argued that bereaved people “will receive antidepressant medication because it is cheaper and ‘easier’ to medicate than to be involved therapeutically,” and noted that antidepressants, like all medications, have side effects.

“I can’t help but see this as a broad overreach by the APA,” Eric Widera, a geriatrician at the University of California, San Francisco, wrote on the GeriPal blog. “Grief is not a disorder and should be considered normal even if it is accompanied by some of the same symptoms seen in depression.”

But Dr. Kupfer said the panel worried that with the exclusion, too many cases of depression could be overlooked and go untreated. “If these things go on and get worse over time and begin to impair someone’s day to day function, we don’t want to use the excuse, ‘It’s bereavement — they’ll get over it,’” he said.

The new entry for major depressive disorder will include a note — the wording isn’t final — pointing out that while grief may be “understandable or appropriate” after a loss, professionals should also consider the possibility of a major depressive episode. Making that distinction, Dr. Kupfer said, will require “good solid clinical judgment.”

Initial field trials testing the reliability of D.S.M. 5 diagnoses, recently published in The American Journal of Psychiatry, don’t bolster confidence, however. An editorial remarked that “the end results are mixed, with both positive and disappointing findings.” Major depressive disorder, for instance, showed “questionable reliability.”

In an upcoming post, I’ll talk more about how patients might respond to the D.S.M. 5, and to a new diagnosis that might also affect a lot of older people — mild neurocognitive disorder.

Paula Span is the author of “When the Time Comes: Families With Aging Parents Share Their Struggles and Solutions.”

Read More..

DealBook: Commerzbank to Cut Up to 6,000 Jobs

LONDON – Commerzbank, the second-largest lender in Germany, is planning to cut up to 6,000 jobs in a bid to increase earnings, joining other European banks that have announced restructuring plans in recent months.

The bank said on Thursday that it expected to eliminate 4,000 to 6,000 jobs by 2016, or 7 to 10 percent of its work force.

The layoffs will affect Commerzbank’s global operations, particularly a retail division that had expanded rapidly in recent years, according to a person with direct knowledge of the matter who spoke on condition of anonymity because he was not authorized to speak publicly.

In the wake of tougher capital requirements, sluggish economic growth and growing concerns about risky trading activity, several European banks have announced efforts to reduce their work forces, shed unwanted assets and increase capital reserves.

In October, the Swiss financial giant UBS said it would eliminate 10,000 jobs in its investment bank in a move to reduce exposure to risky trading activity and to focus on its wealth management division.

Barclays, which is to formally announce its own restructuring plan on Feb. 12, also started consulting with staff members in its investment banking unit this week over potential layoffs.

The expected job cuts at Barclays could result in up to a 10 percent reduction, or around 2,000 jobs, in the division, according to two people with direct knowledge of the matter who spoke on condition of anonymity because they were not authorized to speak publicly. On Thursday, Barclays started to reduce the size of its investment banking staff in Asia by 15 percent, or 70 jobs, according to one of the people.

On Jan. 17, the firm’s new chief executive, Antony P. Jenkins, told staff members they should leave the bank if they did not want to help rebuild its reputation. Barclays agreed last year to a $450 million settlement with American and British authorities over the manipulation of the London interbank offered rate, or Libor, a crucial benchmark rate.

The layoffs at Commerzbank come after efforts by the bank’s chief executive, Martin Blessing, to sell some of the firm’s 160 billion euros ($213 billion) of noncore assets, including shipping and real estate investments. The bank is also trying to reduce its exposure to European sovereign debt because of continuing volatility in countries like Spain and Greece.

Commerzbank said it would start negotiations with employee unions in early February to decide on the final number of layoffs. The announcement comes a day after Mr. Blessing was spotted at a party on Wednesday night at the luxury Belvedere hotel in Davos, whose attendees also included Deutsche Bank’s co-chief executive Anshu Jain. The Commerzbank chief is attending the World Economic Forum in the Swiss town.

Commerzbank received an 18.2 billion euro bailout from the German government in 2008 after its mistimed acquisition of a rival German bank, Dresdner, for 5.5 billion euros at the height of the financial crisis. As part of the deal, the German government still owns a 24 percent stake in Commerzbank.

Shares in Commerzbank bank rose less than 1 percent in morning trading in Frankfurt on Thursday.

European banks have been struggling through a series of recent financial scandals, mounting demands to increase capital reserves and growing political pressure to increase lending to stimulate local economies.

The Continent’s major financial institutions will begin reporting earnings next week, and analysts will be waiting to see if they will follow UBS’s lead in announcing major changes in response to these pressures.

“We believe that UBS has kicked off the much-awaited industry restructuring, even if each bank takes a different path,” Citigroup banking analysts told investors in a research note.

Neil Gough reported from Hong Kong. Jack Ewing contributed reporting from Davos.

Read More..

Dodgers near TV rights deal with Time Warner Cable









The Los Angeles Dodgers have negotiated a long-term television deal that would pay the team $7 billion to $8 billion, a move that would help cover its recent spending spree and quiet critics who scoffed at the record $2.15-billion purchase price paid by the new owner, Guggenheim Partners.


The expected 20-year agreement with Time Warner Cable could be announced this week, according to people familiar with the matter. They asked that their names not be used because the deal has not yet closed.


The arrangement is bad news for rival News Corp's Fox Sports unit, whose channel Prime Ticket holds cable TV rights to the Dodgers through the upcoming season. Fox will pay $39 million this season — a fraction of what Time Warner Cable would pay under the new contract — and found the proposed price tag too high, people inside News Corp. said.





And the pact would probably mean bigger pay TV bills — even for those who don't watch Dodgers baseball, potentially leading to a backlash against the team and Time Warner Cable.


Under the terms of the proposed contract, Guggenheim would own a Dodgers-dedicated television channel that would start carrying games in 2014, said the people with knowledge of the pact. Time Warner Cable would manage much of the channel's operations and handle distribution to other pay TV companies, including DirecTV and Cox Cable.


The Dodgers' move to control their own channel is driven in part by a desire to pocket as much money as possible while still abiding by Major League Baseball's revenue-sharing agreement — which requires that 34% of each team's locally generated revenue, most of it from TV rights and ticket sales, be contributed to a pool for other teams.


Mark Walter, the Dodgers' controlling owner, was believed to be sharing details of the tentative deal Tuesday with Major League Baseball officials. Walter has negotiated extensively with the league over how much of the television money must be shared with the other 29 Major League teams.


The Dodgers' revenue-sharing bill could range from $1 billion to $2.7 billion, based on the structure of the deal.


The new channel would also give the Dodgers the opportunity to expand team-related programming throughout the day, as the Los Angeles Lakers do on their Time Warner Cable channel.


"If you look at what the Lakers are doing, they're communicating with their client base," Dodgers owner and Guggenheim Partners President Todd Boehly told The Times last fall. "It's fantastic. It becomes self-fulfilling. If you start interacting with the team in all-new ways, you're going to love the team even more."


Boehly was not available for comment.


The addition of a new Dodgers network would bring the number of local sports channels in Los Angeles to six, the most in any major city in the United States. Besides Time Warner Cable's SportsNet and Deportes, and Fox's Prime Ticket and Fox Sports West, the Pac-12 Conference also has its own channel here. Fox Sports West carries Los Angeles Kings and Los Angeles Angels games.


"That's too many channels," said Marc Ganis, a sports industry consultant in Chicago. "I can't imagine that is sustainable on a long-term basis."


Sports channels aren't cheap. Time Warner Cable already charges other cable and satellite operators close to $4 a month a subscriber for SportsNet. The Dodgers and Time Warner Cable are expected to seek as much as $5 for their new channel, which is double what Fox charges for Prime Ticket, according to industry consulting firm SNL Kagan.


Those price hikes are generally passed on to consumers, who may resent the increase.


"Why do I have to pay for the Dodgers when I am not a Dodgers fan?" said Laura Burnes, a mother of two who lives in Orange County. "I don't want to see my cable costs go up any more."


The cost for sports has skyrocketed over the last decade. That's partly because the content is seen as "DVR proof." It is watched live by viewers, which makes it more valuable to advertisers and networks than sitcoms and dramas, which are often recorded and viewed later by people who skip ads.


But non-sports fans and pay TV companies are increasingly frustrated at having to pick up the tab for big sports deals. There have been calls to sell sports channels "a la carte," or separately from other programming.


The Dodger agreement with Time Warner Cable may be a tipping point.


"That is the solution everyone should be looking at seriously," said Derek Chang, a former senior executive at satellite broadcaster DirecTV. Such a move, he added, may be the only way to lower the cost of TV sports. "Ultimately the market for fees would then reset."


The Dodger deal marks the second time in less than two years that Time Warner Cable has outbid Fox Sports for a Los Angeles franchise. In 2011, the company agreed to pay $3.6 billion for a 20-year accord with the Lakers, which had been on Fox Sports West.


Time Warner Cable used the Lakers to create SportsNet and Deportes, a Spanish-language sports channel.


The two media titans have also done battle on other turf.


Last year, Fox acquired an ownership stake in Yes, the New York sports channel that is home to the Yankees. In 2011, Fox outbid Time Warner Cable for rights to the San Diego Padres.


Losing the Dodgers will hurt Fox's Prime Ticket, but the company still has rights to the Los Angeles Clippers and Anaheim Ducks. A Fox executive said there are no plans to consolidate Prime Ticket and Fox Sports West, which besides the Angels also has rights to the Stanley Cup champion Kings.


Distributors will press for a reduction in the fee for Prime Ticket without the Dodgers, but it's not a sure thing they'll get it, Ganis said. When New York's MSG channel lost rights to the Yankees, the subscription fee did not decrease.


joe.flint@latimes.com


bill.shaikin@latimes.com


Times staff writer Meg James contributed to this report.





Read More..

Falling Photos Force Us to Face Our Fundamental Fears



Kerry Skarbakka wants to capture the feeling you get when you’re about to eat it — wrecking your bike, tripping down the stairs, falling off a ladder — and you know it. The ground comes flying up and for a split second you’re resigned to letting events take their course. To do that, he voluntarily throws himself off of things and takes a photo in midair.


He sets up these falling photos by scoping a location he likes and then figuring out what he needs to stay safe during the plunge. If he can get away without using ropes, great, but if he needs to, Skarbakka will wear a harness underneath his clothing and tie off to an anchor. He tries to keep the falls shorter than seven feet. His girlfriend usually snaps the photos, but he says he’s also occasionally resorted to asking random people on the street to push the button.


“I ask [people], ‘Can you press the shutter when I look most compromised?’ which often gets a weird reaction,” says Skarbakka, an assistant professor of digital media and photographic studies at Prescott College in Arizona.


When Skarbakka frames the shot, he likes to try and hide the rope from view. If the rope somehow makes it into the frame, he’ll Photoshop it out in post production. He then makes enormous prints of the photos — almost life size — which helps transport the viewer to the scene of the “accident.”


Predictably, there have been some mishaps during the picture-taking process. The worst injury he’s sustained is a broken rib, but he says there’s been innumerable bumps and bruises. Sometimes the location is so intense he won’t even try to fall. In the railroad bridge photo, for example, he leaned over the edge (while tied to one of the railroad tracks) just far enough to be at what looked like a point of no return. But he never actually jumped off.


He says most of the reaction to the work has been positive but occasionally misunderstood. In 2005 he worked with the Museum of Contemporary Art Chicago on a performance piece where he was photographed as a special effects team dropped him off the museum’s roof dozens of times. A member of the media covering the event made a visual connection between the art and the people jumping out of the World Trade Center during 9/11 and quickly initiated a wave of backlash against Skarbakka, who says a comparison was never his intention.


“People got really mad,” he says.


At the moment Skarbakka says he’s trying to cull all the work together into a book and is actively looking for a publisher. In the future he’ll be incorporating the desert into his work — which is new to him because he recently moved to Arizona. He says he’s curious to know how we might change as a society if we were a little more resolved to the fact that a bit of chaos is inevitable.


“If we can give up that control, worry a little less about that existential anxiety, what would that do for us?” he says.


Read More..

“Cyborg Foundation” wins $100K Focus Forward prize






LOS ANGELES (TheWrap.com) – Spanish director Rafel Duran Torrent has won the $ 100,000 cash prize in the Focus Forward Filmmaker Competition at the Sundance Film Festival. The awards, the most lucrative ever given to short documentaries, went to five different shorts, with the top one being Duran Torrent’s “Cyborg Foundation.”


The director will also be invited to a Sundance Institute ShortsLab program of his choice this year.






Runners-up were Jared P. Scott and Kelly Nyks for “The Artificial Leaf,” Paul Lazarus for “Slingshot,” Kim Munsamy for “Bones Don’t Lie and Don’t Forget” and Callum Cooper for “Mine Kafon.”


The program was launched at last year’s Sundance by Morgan Spurlock and Karol Martesko-Fenster. Focus Forward was run by Spurlock’s and Martesko-Fenster’s company, cinelan, and sponsored by GE.


The top films were chosen by a jury consisting of Sundance senior programmer Caroline Libresco, actress Daryl Hannah and directors Barbara Kopple, Jose Padilha, Joe Berlinger, Floyd Webb and Peter Wintonick.


The winning films and the 15 other finalists can be viewed on the Focus Forward website.


Movies News Headlines – Yahoo! News





Title Post: “Cyborg Foundation” wins $100K Focus Forward prize
Url Post: http://www.news.fluser.com/cyborg-foundation-wins-100k-focus-forward-prize/
Link To Post : “Cyborg Foundation” wins $100K Focus Forward prize
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..