Wall Street Week Ahead: A lump of coal for "Fiscal Cliff-mas"

NEW YORK (Reuters) - Wall Street traders are going to have to pack their tablets and work computers in their holiday luggage after all.


A traditionally quiet week could become hellish for traders as politicians in Washington are likely to fall short of an agreement to deal with $600 billion in tax hikes and spending cuts due to kick in early next year. Many economists forecast that this "fiscal cliff" will push the economy into recession.


Thursday's debacle in the U.S. House of Representatives, where Speaker John Boehner failed to secure passage of his own bill that was meant to pressure President Obama and Senate Democrats, only added to worry that the protracted budget talks will stretch into 2013.


Still, the market remains resilient. Friday's decline on Wall Street, triggered by Boehner's fiasco, was not enough to prevent the S&P 500 from posting its best week in four.


"The markets have been sort of taking this in stride," said Sandy Lincoln, chief market strategist at BMO Asset Management U.S. in Chicago, which has about $38 billion in assets under management.


"The markets still basically believe that something will be done," he said.


If something happens next week, it will come in a short time frame. Markets will be open for a half-day on Christmas Eve, when Congress will not be in session, and will close on Tuesday for Christmas. Wall Street will resume regular stock trading on Wednesday, but volume is expected to be light throughout the rest of the week with scores of market participants away on a holiday break.


For the week, the three major U.S. stock indexes posted gains, with the Dow Jones industrial average <.dji> up 0.4 percent, the S&P 500 <.spx> up 1.2 percent and the Nasdaq Composite Index <.ixic> up 1.7 percent.


Stocks also have booked solid gains for the year so far, with just five trading sessions left in 2012: The Dow has advanced 8 percent, while the S&P 500 has climbed 13.7 percent and the Nasdaq has jumped 16 percent.


IT COULD GET A LITTLE CRAZY


Equity volumes are expected to fall sharply next week. Last year, daily volume on each of the last five trading days dropped on average by about 49 percent, compared with the rest of 2011 - to just over 4 billion shares a day exchanging hands on the New York Stock Exchange, the Nasdaq and NYSE MKT in the final five sessions of the year from a 2011 daily average of 7.9 billion.


If the trend repeats, low volumes could generate a spike in volatility as traders keep track of any advance in the cliff talks in Washington.


"I'm guessing it's going to be a low volume week. There's not a whole lot other than the fiscal cliff that is going to continue to take the headlines," said Joe Bell, senior equity analyst at Schaeffer's Investment Research, in Cincinnati.


"A lot of people already have a foot out the door, and with the possibility of some market-moving news, you get the possibility of increased volatility."


Economic data would have to be way off the mark to move markets next week. But if the recent trend of better-than-expected economic data holds, stocks will have strong fundamental support that could prevent selling from getting overextended even as the fiscal cliff negotiations grind along.


Small and mid-cap stocks have outperformed their larger peers in the last couple of months, indicating a shift in investor sentiment toward the U.S. economy. The S&P MidCap 400 Index <.mid> overcame a technical level by confirming its close above 1,000 for a second week.


"We view the outperformance of the mid-caps and the break of that level as a strong sign for the overall market," Schaeffer's Bell said.


"Whenever you have flight to risk, it shows investors are beginning to have more of a risk appetite."


Evidence of that shift could be a spike in shares in the defense sector, expected to take a hit as defense spending is a key component of the budget talks.


The PHLX defense sector index <.dfx> hit a historic high on Thursday, and far outperformed the market on Friday with a dip of just 0.26 percent, while the three major U.S. stock indexes finished the day down about 1 percent.


Following a half-day on Wall Street on Monday ahead of the Christmas holiday, Wednesday will bring the S&P/Case-Shiller Home Price Index. It is expected to show a ninth-straight month of gains.


U.S. jobless claims on Thursday are seen roughly in line with the previous week's level, with the forecast at 360,000 new filings for unemployment insurance, compared with the previous week's 361,000.


(Wall St Week Ahead runs every Friday. Questions or comments on this column can be emailed to: rodrigo.campos(at)thomsonreuters.com)


(Reporting by Rodrigo Campos; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)



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Boston Priest to Lead Vatican’s Oversight of Sexual Abuse Claims





ROME — Pope Benedict XVI on Saturday appointed a priest who handled sexual abuse cases under Cardinal Bernard F. Law in Boston as the Vatican’s new sex crimes prosecutor.




The pope also pardoned his former butler, who was serving a prison term after leaking confidential documents in the Vatican’s most embarrassing security breach in decades.


The Vatican said the Rev. Robert W. Oliver, the top canon lawyer at the Archdiocese of Boston under Cardinal Sean P. O’Malley, would be the “promoter of justice” at the Congregation for the Doctrine of the Faith, the Vatican’s doctrinal office that reviews all abuse cases.


In a statement released by the Archdiocese of Boston, Father Oliver said, “It is with deep humility and gratitude that I received the news that the Holy Father is entrusting me with this service to the church.”


Father Oliver was among the canon lawyers who advised Cardinal Law on sexual abuse cases in Boston, the center of the church’s child abuse crisis in the United States. He continued advising the Archdiocese of Boston after the cardinal was forced to resign in 2002 amid an uproar over revelations that the cardinal had kept abusive priests working in parishes.


David Clohessy, who helps lead the victims advocacy group Survivors Network of Those Abused by Priests, said the appointment of “anyone with ties to Law” was problematic.


“It just rubs salt into the wounds of hundreds and hundreds of Boston victims when anyone associated with Law is given any kind of responsibility or power or prestige,” he said. “On the other hand, we’d rather someone hold that position who has had a lot of experience, even if their track record is less than stellar.”


Father Oliver currently serves as a canon lawyer in the Archdiocese of Boston and as a visiting professor of canon law at Catholic University of America in Washington.


He was raised in Bay Shore, on Long Island, and his father, Robert W. Oliver, was a justice of the New York State Supreme Court.


In a statement, Cardinal O’Malley said, “Father Oliver is a distinguished canon lawyer who brings the requisite experience and an understanding of the importance of this office within the life of the church.”


Father Oliver succeeds Msgr. Charles Scicluna, 53, who was promoted to auxiliary bishop in his native Malta in October. A friendly canon lawyer, Monsignor Scicluna found himself in the eye of the storm after being named promoter of justice in 2002.


The same year, Benedict, then Cardinal Joseph Ratzinger, the prefect of the Congregation for the Doctrine of the Faith, decreed that all abuse cases be sent directly to the doctrinal office. But bishops later said the decree was not explained clearly and confusion lingered over how dioceses should handle abuse cases.


After his resignation in Boston, Cardinal Law was transferred to Rome and named archpriest of the prestigious Basilica of Santa Maria Maggiore. He remained a member of the Vatican’s powerful Congregation for Bishops, responsible for naming bishops, until he retired last year.


When the scandal erupted anew in Europe in 2010, with cases emerging in Ireland and the pope’s native Germany — including some that called into question how Benedict handled an abuse case when he was archbishop of Munich in 1980 — the Vatican issued new guidelines, essentially telling bishops to report abuse cases to the police.


Victims groups called the Vatican’s actions too little, too late.


The Vatican also said Saturday that Benedict had pardoned his former butler, Paolo Gabriele, 46, who had been sentenced to prison after admitting to leaking confidential documents that formed the basis of a tell-all book on alleged misdeeds, financial mismanagement, back-stabbing and infighting within the Vatican.


On Saturday morning, Benedict met for 15 minutes with Mr. Gabriele in the Vatican police barracks, where he had been serving an 18-month sentence for aggravated theft, and set him free, said the Vatican spokesman, the Rev. Federico Lombardi.


Mr. Gabriele was arrested in May after Vatican authorities found what they called an “enormous” quantity of confidential documents in his Vatican apartment. Mr. Gabriele said he leaked the documents because he believed that exposing the “evil and corruption” within the Vatican would help put the Roman Catholic Church back on track.


Father Lombardi said that Mr. Gabriele would not get his former job back, but that the Vatican would help find him a new job and apartment.


Rachel Donadio reported from Rome, and Laurie Goodstein from New York.



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Katherine Heigl Calls Adalaide's Adoption 'Serendipitous'

When Katherine Heigl announced her family had welcomed a second daughter into their home, fans were shocked — and, apparently, so was husband Josh Kelley.


Interested in giving daughter Naleigh, 4, a sibling, the actress and the singer began the adoption process with their sights set on Korea, only to eventually learn international adoptions were becoming increasingly difficult.


“Korea had gotten very hard to adopt from and China had a very long waiting list. I was kind of, ‘Tick, tick, tick. Any day now!’” Heigl, 34, told Jay Leno Thursday.


That’s when the couple began researching the idea of a domestic adoption and received quite the surprise much sooner than expected. “My lawyer called and said, ‘There’s a birth mother and she’s due in four weeks. She’s all yours if you want her!’” she recalls.


Katherine Heigl Adalaide Adoption Was Serendipitous
Paul Drinkwater/NBC



“So I had to talk Josh into that one. He thought it was going to be a few years and that we were going to end up with more a 9 or 10-month-old. He looked at me and said, ‘You’re telling me in a month we’re going to have a newborn?’”


Reassuring Kelley that it would all work out, the mom-of-two admits the arrival of Adalaide Marie Hope, now 7 months, couldn’t have come at a better point in their lives.


“I said, ‘Yeah, it’s perfect timing … we’re both here, we’re not working, this is great [because] we can spend time with her,’” she explains. “And it actually has been beautifully serendipitous and graceful because we’ve gotten to spend all this wonderful time with her.”


Recently, the family of four — who reside full-time in Utah — continued Heigl’s childhood holiday traditions of hitting the snowy slopes with their skis. But when Kelley had the task of taking Naleigh to her first class, it didn’t take long for her parents to realize some traditions just don’t die.


“All my siblings would go off and ski and [my parents] sent me to ski school, but every day I would come home with a note pinned to my jacket that just said, ‘Katie did not enjoy her day at ski school,’” Heigl shares, adding she would “cry and cry” during the ski session.


“Josh took Naleigh … and I was pretty sure I was going to get a very similar note — I did. She was not into it at all, hysterical in fact.”


As for the doting dad? He was equally beside himself. “Josh is driving home on the phone with me, ‘I’m just so disappointed she won’t even try,’” the actress shares. “And I said, ‘Josh, she’s four … she’ll get it! She’ll get the hang of it.’”


Unfortunately for Kelley, along with the arrival of winter weather comes a few sneezes, sniffles and colds as well.


“Adalaide had a little head cold for about a week and then Josh started thinking he was getting sick. He makes this noise when he thinks he is getting a stuffy nose,” Heigl shares, before imitating the sound.


“I’m dead asleep in the middle of the night, that’s what I hear and I wake up to it. I said to him the next day, ‘What’s the problem Josh?’”


When her husband of almost five years — they celebrate their anniversary Sunday — admitted he couldn’t breathe, she encouraged him to look to the couple’s baby girl for a bit of inspiration.


“I said, ‘Everybody in this world gets head colds. Your baby is handling it better than you are! I think you’re going to survive this,’” she says with a laugh. “But, all in all, 90 percent of him is amazing.”


– Anya Leon


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AP IMPACT: Big Pharma cashes in on HGH abuse


A federal crackdown on illicit foreign supplies of human growth hormone has failed to stop rampant misuse, and instead has driven record sales of the drug by some of the world's biggest pharmaceutical companies, an Associated Press investigation shows.


The crackdown, which began in 2006, reduced the illegal flow of unregulated supplies from China, India and Mexico.


But since then, Big Pharma has been satisfying the steady desires of U.S. users and abusers, including many who take the drug in the false hope of delaying the effects of aging.


From 2005 to 2011, inflation-adjusted sales of HGH were up 69 percent, according to an AP analysis of pharmaceutical company data collected by the research firm IMS Health. Sales of the average prescription drug rose just 12 percent in that same period.


___


EDITOR'S NOTE — Whether for athletics or age, Americans from teenagers to baby boomers are trying to get an edge by illegally using anabolic steroids and human growth hormone, despite well-documented risks. This is the second of a two-part series.


___


Unlike other prescription drugs, HGH may be prescribed only for specific uses. U.S. sales are limited by law to treat a rare growth defect in children and a handful of uncommon conditions like short bowel syndrome or Prader-Willi syndrome, a congenital disease that causes reduced muscle tone and a lack of hormones in sex glands.


The AP analysis, supplemented by interviews with experts, shows too many sales and too many prescriptions for the number of people known to be suffering from those ailments. At least half of last year's sales likely went to patients not legally allowed to get the drug. And U.S. pharmacies processed nearly double the expected number of prescriptions.


Peddled as an elixir of life capable of turning middle-aged bodies into lean machines, HGH — a synthesized form of the growth hormone made naturally by the human pituitary gland — winds up in the eager hands of affluent, aging users who hope to slow or even reverse the aging process.


Experts say these folks don't need the drug, and may be harmed by it. The supposed fountain-of-youth medicine can cause enlargement of breast tissue, carpal tunnel syndrome and swelling of hands and feet. Ironically, it also can contribute to aging ailments like heart disease and Type 2 diabetes.


Others in the medical establishment also are taking a fat piece of the profits — doctors who fudge prescriptions, as well as pharmacists and distributors who are content to look the other way. HGH also is sold directly without prescriptions, as new-age snake oil, to patients at anti-aging clinics that operate more like automated drug mills.


Years of raids, sports scandals and media attention haven't stopped major drugmakers from selling a whopping $1.4 billion worth of HGH in the U.S. last year. That's more than industry-wide annual gross sales for penicillin or prescription allergy medicine. Anti-aging HGH regimens vary greatly, with a yearly cost typically ranging from $6,000 to $12,000 for three to six self-injections per week.


Across the U.S., the medication is often dispensed through prescriptions based on improper diagnoses, carefully crafted to exploit wiggle room in the law restricting use of HGH, the AP found.


HGH is often promoted on the Internet with the same kind of before-and-after photos found in miracle diet ads, along with wildly hyped claims of rapid muscle growth, loss of fat, greater vigor, and other exaggerated benefits to adults far beyond their physical prime. Sales also are driven by the personal endorsement of celebrities such as actress Suzanne Somers.


Pharmacies that once risked prosecution for using unauthorized, foreign HGH — improperly labeled as raw pharmaceutical ingredients and smuggled across the border — now simply dispense name brands, often for the same banned uses. And usually with impunity.


Eight companies have been granted permission to market HGH by the U.S. Food and Drug Administration, which reviews the benefits and risks of new drug products. By contrast, three companies are approved for the diabetes drug insulin.


The No. 1 maker, Roche subsidiary Genentech, had nearly $400 million in HGH sales in the U.S. last year, up an inflation-adjusted two-thirds from 2005. Pfizer and Eli Lilly were second and third with $300 million and $220 million in sales, respectively, according to IMS Health. Pfizer now gets more revenue from its HGH brand, Genotropin, than from Zoloft, its well-known depression medicine that lost patent protection.


On their face, the numbers make no sense to the recognized hormone doctors known as endocrinologists who provide legitimate HGH treatment to a small number of patients.


Endocrinologists estimate there are fewer than 45,000 U.S. patients who might legitimately take HGH. They would be expected to use roughly 180,000 prescriptions or refills each year, given that typical patients get three months' worth of HGH at a time, according to doctors and distributors.


Yet U.S. pharmacies last year supplied almost twice that much HGH — 340,000 orders — according to AP's analysis of IMS Health data.


While doctors say more than 90 percent of legitimate patients are children with stunted growth, 40 percent of 442 U.S. side-effect cases tied to HGH over the last year involved people age 18 or older, according to an AP analysis of FDA data. The average adult's age in those cases was 53, far beyond the prime age for sports. The oldest patients were in their 80s.


Some of these medical records even give explicit hints of use to combat aging, justifying treatment with reasons like fatigue, bone thinning and "off-label," which means treatment of an unapproved condition


Even Medicare, the government health program for older Americans, allowed 22,169 HGH prescriptions in 2010, a five-year increase of 78 percent, according to data released by the Centers for Medicare and Medicaid Services in response to an AP public records request.


"There's no question: a lot gets out," said hormone specialist Dr. Mark Molitch of Northwestern University, who helped write medical standards meant to limit HGH treatment to legitimate patients.


And those figures don't include HGH sold directly by doctors without prescriptions at scores of anti-aging medical practices and clinics around the country. Those numbers could only be tallied by drug makers, who have declined to say how many patients they supply and for what conditions.


First marketed in 1985 for children with stunted growth, HGH was soon misappropriated by adults intent on exploiting its modest muscle- and bone-building qualities. Congress limited HGH distribution to the handful of rare conditions in an extraordinary 1990 law, overriding the generally unrestricted right of doctors to prescribe medicines as they see fit.


Despite the law, illicit HGH spread around the sports world in the 1990s, making deep inroads into bodybuilding, college athletics, and professional leagues from baseball to cycling. The even larger banned market among older adults has flourished more recently.


FDA regulations ban the sale of HGH as an anti-aging drug. In fact, since 1990, prescribing it for things like weight loss and strength conditioning has been punishable by 5 to 10 years in prison.


Steve Kleppe, of Scottsdale, Ariz., a restaurant entrepreneur who has taken HGH for almost 15 years to keep feeling young, said he noticed a price jump of about 25 percent after the block on imports. He now buys HGH directly from a doctor at an annual cost of about $8,000 for himself and the same amount for his wife.


Many older patients go for HGH treatment to scores of anti-aging practices and clinics heavily concentrated in retirement states like Florida, Nevada, Arizona and California.


These sites are affiliated with hundreds of doctors who are rarely endocrinologists. Instead, many tout certification by the American Board of Anti-Aging and Regenerative Medicine, though the medical establishment does not recognize the group's bona fides.


The clinics offer personalized programs of "age management" to business executives, affluent retirees, and other patients of means, sometimes coupled with the amenities of a vacation resort. The operations insist there are few, if any, side effects from HGH. Mainstream medical authorities say otherwise.


A 2007 review of 31 medical studies showed swelling in half of HGH patients, with joint pain or diabetes in more than a fifth. A French study of about 7,000 people who took HGH as children found a 30 percent higher risk of death from causes like bone tumors and stroke, stirring a health advisory from U.S. authorities.


For proof that the drug works, marketers turn to images like the memorable one of pot-bellied septuagenarian Dr. Jeffry Life, supposedly transformed into a ripped hulk of himself by his own program available at the upscale Las Vegas-based Cenegenics Elite Health. (He declined to be interviewed.)


These promoters of HGH say there is a connection between the drop-off in growth hormone levels through adulthood and the physical decline that begins in late middle age. Replace the hormone, they say, and the aging process slows.


"It's an easy ruse. People equate hormones with youth," said Dr. Tom Perls, a leading industry critic who does aging research at Boston University. "It's a marketing dream come true."


___


Associated Press Writer David B. Caruso reported from New York and AP National Writer Jeff Donn reported from Plymouth, Mass. AP Writer Troy Thibodeaux provided data analysis assistance from New Orleans.


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AP's interactive on the HGH investigation: http://hosted.ap.org/interactives/2012/hgh


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The AP National Investigative Team can be reached at investigate(at)ap.org


EDITOR'S NOTE _ Whether for athletics or age, Americans from teenagers to baby boomers are trying to get an edge by illegally using anabolic steroids and human growth hormone, despite well-documented risks. This is the second of a two-part series.


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Wall Street falls on fiscal cliff setback

NEW YORK (Reuters) - U.S. stocks finished lower on Friday after a Republican plan to avoid the "fiscal cliff" failed to gain sufficient support on Thursday night, draining hopes that a deal would be reached before 2013.


Still, stocks managed to rebound from the day's lows near the end of the session, and for the week, major averages still ended higher, with the S&P 500 gaining 1.2 percent.


Trading was volatile as confidence eroded in the prospect of a deal out of Washington, and in part due to quarterly expiration of options and futures contracts. The CBOE Volatility Index <.vix> or VIX, the market's favored anxiety measure, finished below its high of the day.


Republican House Speaker John Boehner failed to garner enough votes from even his own party to pass his "Plan B" tax bill late on Thursday. It was the latest setback in negotiations to avoid $600 billion in tax hikes and spending cuts that some say could tip the U.S. economy into recession.


"The failure with Plan B was disappointing, if not terribly surprising, but now there's a real lack of clarity about what will happen, and markets hate that," said Mike Hennessy, managing director of investments for Morgan Creek in Chapel Hill, North Carolina.


Herbalife dropped for an eighth straight session. Investor Bill Ackman recently ramped up his campaign against the company. The company skidded 19 percent to $27.27 and has lost more than 35 percent this week.


Plan B, which called for tax increases on those who earn $1 million or more a year, was not going to pass the Democratic-led Senate or win acceptance from the White House anyway. But it exposed the reality that it will be difficult to get Republican support for the more expansive tax increases that President Barack Obama has urged.


Still, the declines of less than 1 percent in the three major U.S. stock indexes suggest that investors do not believe the economy will be unduly damaged by the absence of a deal, said Mark Lehmann, president of JMP Securities, in San Francisco.


"You could have easily woken up today and seen the market down 300 or 400 points, and everyone would have said, 'That's telling you this is really dire,'" Lehmann said.


"I think if you get into mid-January and (the talks) keep going like this, you get worried, but I don't think we're going to get there."


Banking shares, which outperform during economic expansion and have led the market on signs of progress on resolving the fiscal impasse, led declines. Citigroup Inc fell 1.6 percent to $39.49, while Bank of America slid 1.9 percent to $11.29. The KBW Banks index <.bkx> lost 1.19 percent.


Volatility on Friday was exacerbated in part by "quadruple witching," the quarterly expiration of stock index futures and options, stock options and single stock futures contracts.


About 8.59 billion shares changed hands on major U.S. exchanges, more than the daily average of 6.47 billion daily in 2012, in part due to expiration.


The Dow Jones industrial average <.dji> dropped 120.72 points, or 0.91 percent, to 13,191.00. The Standard & Poor's 500 Index <.spx> fell 13.52 points, or 0.94 percent, to 1,430.17. The Nasdaq Composite Index <.ixic> lost 29.38 points, or 0.96 percent, to 3,021.01.


"Amazingly, this sharp decline today may not actually change the technical picture much - unless the decline gets worse," said Larry McMillan, president of options research firm McMillan Analysis Corp, in a research note.


The day's round of data indicated the economy was surprisingly resilient in November; consumer spending rose by the most in three years and a gauge of business investment jumped.


But separate data showed consumer sentiment slumped in December. The S&P Retail Index <.spxrt> fell 1.2 percent.


U.S.-listed shares of Research in Motion sank 22.7 percent to $10.91 after the Canadian company, known as the BlackBerry maker, reported its first-ever decline in its subscriber numbers on Thursday alongside a new fee structure for its high-margin services segment.


(Additional reporting by Ryan Vlastelica and Leah Schnurr; Editing by Bernadette Baum, Jan Paschal and Nick Zieminski)



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Obama Nominates Kerry for Secretary of State





WASHINGTON — President Obama on Friday nominated Senator John Kerry of Massachusetts as secretary of state, choosing an elder of the Democratic Party’s foreign policy establishment and a crucial political ally in the Senate to succeed Hillary Rodham Clinton.




“In a sense, John’s entire life has prepared him for this role,” Mr. Obama said, making the widely expected announcement at the White House. “He’s not going to need a lot of on-the-job training.”


With Mr. Kerry standing at his side, the president praised Mr. Kerry’s combat service in the Vietnam War and his three decades in the Senate, which Mr. Obama said had placed him at the heart of “every major foreign policy debate for the past 30 years.”


Mr. Kerry, the president said, had also earned the respect of his Senate colleagues and he expressed confidence that Mr. Kerry would be quickly confirmed. In recent weeks, Senator John McCain, the Arizona Republican, has jokingly referred to his colleague as “Mr. Secretary.”


Mr. Obama’s first choice for the job, Susan E. Rice, the ambassador to the United Nations, asked Mr. Obama to withdraw her name last week after Mr. McCain and other Republicans threatened to block her nomination because of statements she made after the lethal attack on the American mission in Benghazi, Libya.


In addition to Mr. Kerry’s foreign-policy credentials, Mr. Obama noted that he had supported the president’s political career at key moments — not least, he said, by inviting a “young Illinois state senator to address the Democratic National Convention in 2004.”


Mr. Kerry, 69, was his party’s presidential candidate in that election, losing to George W. Bush. He is chairman of the Senate Foreign Relations Committee and has carried out several diplomatic missions for the Obama administration, helping to persuade President Hamid Karzai of Afghanistan to agree to a runoff election in 2009. Early in the administration, he also tried to engage President Bashar al-Assad of Syria, who has waged a brutal crackdown on his own people as he fights to cling to power.


During the last campaign he also played the role of Mitt Romney in Mr. Obama’s debate preparations.


“Nothing brings two people closer together than two weeks of debate prep,” the president joked. “John, I’m looking forward to working with you rather than debating you.”


Mr. Kerry has long coveted the job of secretary of state.


Mrs. Clinton, who is recovering from the effects of a concussion, did not appear at the White House announcement.


“Hillary wanted very much to be here today, but she continues to recuperate,” the president said. “I had a chance to talk to her earlier today, and she is in good spirits and could not be more excited about the announcement that I’m making.”


Mr. Obama still has to fill two other key openings in his national security team, finding replacements for Secretary of Defense Leon E. Panetta, who intends to resign; and David H. Petraeus, director of the Central Intelligence Agency, who resigned in November because of an extramarital affair.


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Huge Savings With MyBatua Season’s Sale






The online Islamic clothing store MyBatua.com brings more reasons to smile. The Store announces huge discounts and assured gifts on every purchase of women Abayas, kurtis and Jibabs.


(PRWEB) December 21, 2012






MyBatua.com has extended its seasonal sale on Islamic clothing range for a fortnight to appreciate the huge response of buyers. Being one of the most renowned stores for a vibrant range of Islamic clothing range, MyBatua has announced discounts up to 60% on modern, contemporary, fashionable and exclusive Islamic apparel for men and women.


The online store offers a huge collection of Jibabs, kurtis, abayas and Hijabs for customers, with the choice of customization. All the clothing items displayed at the sale are designed to reflect exclusive style statements of customers. Islamic outfits at MyBatua are available with contemporary and very stylish looks. Jilbabs and Abaya at the store are also made from natural fabric and with contemporary texture.


At http://www.mybatua.com visitors may choose from an extensive range of hijabs available in different styles, plain solid colors, fantastic design and attractive ones for joyful events. Like their name they are very simple to put on without any wrapp or Hijab pin. The store is well-known for its best quality beautiful hijabs and Abayas with an inexpensive price tag.


The best part of the season sale at the store is the availability of the finest range of ethnic clothing for a diverse array of women buyers who never compromise on quality and style. The store features a diverse variety of modest Women’s clothing items that range from conventional Abayas to custom Hijabs designed with finest craftsmanship.


Apart from a pretty good collection of regular and Plus sizes of Jibabs, Abayas and Hijab, customers also get an option to customize clothes without any additional cost. With every purchase at http://www.mybatua.com seasonal sale, customers find huge cash discounts and assured gifts to turn their shopping spree rewarding and a never before experience. MyBatua range comes with free shipping and hassle free delivery to the customers worldwide.    


MyBatua a leading online store for clothing and accessories has now become a one stop shopping place for Islamic fashion clothing. It is catering to all needs of online shoppers for Abayas, Jilbabs, Hijabs, Sherwanis and variety of accessories including brooches and unique handbags suitable for all occasions and weddings.


Amrish Goel
Mybatua.com
+918826009522
Email Information


Internet News Headlines – Yahoo! News





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High School Football Star Protects Bullied Student with Special Needs






Heroes Among Us










12/20/2012 at 04:50 PM EST







Chy Johnson with Carson Jones (right) and the rest of her "boys," the Queen Creek, Ariz., high school football team


Dave Knoer/K-KAMERA.COM


Carson Jones didn't think he was doing anything special last August when he asked his buddies on the Queen Creek High School football team in Queen Creek, Ariz., to help watch over a special-needs sophomore who was getting picked on by other students.

"I just thought if the other kids saw us treating her nicely, then maybe they'd do the same thing," recalls Jones.

The 18-year-old quarterback with a 4.3 GPA had no idea how his good deed would end up changing the life of Chy Johnson, whose neurological disorder limits her cognitive abilities to that of a third-grader. But over the past three months, Johnson, 16, has gone from being a bullied outcast to becoming one of the most celebrated kids at Queen Creek High.  

"If it wasn't for Carson, I honestly think we would have pulled her out of school and homeschooled her," says Johnson's mom Liz, who first met Jones years earlier while working as a teacher's aide at his elementary school.

When Chy started coming home from her classes in tears, describing how kids were throwing trash at her and calling her names, Liz wondered if maybe the "wholesome, good-natured" Jones might be able to help.
 

Liz tracked Jones down through his Facebook page and asked if he could find out who was picking on her daughter. The next day, Jones found Chy sitting alone in the cafeteria and asked her to come sit with him and a group of other seniors on the football team.   

"She's pretty much been with us ever since,"says Jones, who ended up "having a talk” with her tormentors.
 

Not only has the bullying stopped, but the players have made Chy an unofficial member of their team – walking her to classes, taking her to dances and parties, even inviting her down to the sidelines during games.

Carson and the rest of the team's kindness hasn’t been lost on Chy.

"They're my boys and I'm their lucky girl," she says. "They're awesome."

Know a hero? Send suggestions to heroesamongus@peoplemag.com. For more inspiring stories, read the latest issue of PEOPLE magazine

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AP IMPACT: Steroids loom in major-college football


WASHINGTON (AP) — With steroids easy to buy, testing weak and punishments inconsistent, college football players are packing on significant weight — 30 pounds or more in a single year, sometimes — without drawing much attention from their schools or the NCAA in a sport that earns tens of billions of dollars for teams.


Rules vary so widely that, on any given game day, a team with a strict no-steroid policy can face a team whose players have repeatedly tested positive.


An investigation by The Associated Press — based on interviews with players, testers, dealers and experts and an analysis of weight records for more than 61,000 players — revealed that while those running the multibillion-dollar sport say they believe the problem is under control, that control is hardly evident.


The sport's near-zero rate of positive steroids tests isn't an accurate gauge among college athletes. Random tests provide weak deterrence and, by design, fail to catch every player using steroids. Colleges also are reluctant to spend money on expensive steroid testing when cheaper ones for drugs like marijuana allow them to say they're doing everything they can to keep drugs out of football.


"It's nothing like what's going on in reality," said Don Catlin, an anti-doping pioneer who spent years conducting the NCAA's laboratory tests at UCLA. He became so frustrated with the college system that it was part of the reason he left the testing industry to focus on anti-doping research.


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EDITOR'S NOTE — Whether for athletics or age, Americans from teenagers to baby boomers are trying to get an edge by illegally using anabolic steroids and human growth hormone, despite well-documented risks. This is the first of a two-part series.


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While other major sports have been beset by revelations of steroid use, college football has operated with barely a whiff of scandal. Between 1996 and 2010 — the era of Barry Bonds, Mark McGwire, Marion Jones and Lance Armstrong — the failure rate for NCAA steroid tests fell even closer to zero from an already low rate of less than 1 percent.


The AP's investigation, drawing upon more than a decade of official rosters from all 120 Football Bowl Subdivision teams, found thousands of players quickly putting on significant weight, even more than their fellow players. The information compiled by the AP included players who appeared for multiple years on the same teams.


For decades, scientific studies have shown that anabolic steroid use leads to an increase in body weight. Weight gain alone doesn't prove steroid use, but very rapid weight gain is one factor that would be deemed suspicious, said Kathy Turpin, senior director of sport drug testing for the National Center for Drug Free Sport, which conducts tests for the NCAA and more than 300 schools.


Yet the NCAA has never studied weight gain or considered it in regard to its steroid testing policies, said Mary Wilfert, the NCAA's associate director of health and safety.


The NCAA attributes the decline in positive tests to its year-round drug testing program, combined with anti-drug education and testing conducted by schools.


The AP's analysis found that, regardless of school, conference and won-loss record, many players gained weight at exceptional rates compared with their fellow athletes and while accounting for their heights.


Adding more than 20 or 25 pounds of lean muscle in a year is nearly impossible through diet and exercise alone, said Dan Benardot, director of the Laboratory for Elite Athlete Performance at Georgia State University.


In nearly all the rarest cases of weight gain in the AP study, players were offensive or defensive linemen, hulking giants who tower above 6-foot-3 and weigh 300 pounds or more. Four of those players interviewed by the AP said that they never used steroids and gained weight through dramatic increases in eating, up to six meals a day. Two said they were aware of other players using steroids.


"I ate 5-6 times a day," said Clint Oldenburg, who played for Colorado State starting in 2002 and for five years in the NFL. Oldenburg's weight increased over four years from 212 to 290.


Oldenburg told the AP he was surprised at the scope of steroid use in college football, even in Colorado State's locker room. "There were a lot of guys even on my team that were using." He declined to identify any of them.


The AP found more than 4,700 players — or about 7 percent of all players — who gained more than 20 pounds overall in a single year. It was common for the athletes to gain 10, 15 and up to 20 pounds in their first year under a rigorous regimen of weightlifting and diet. Others gained 25, 35 and 40 pounds in a season. In roughly 100 cases, players packed on as much 80 pounds in a single year.


In at least 11 instances, players that AP identified as packing on significant weight in college went on to fail NFL drug tests. But pro football's confidentiality rules make it impossible to know for certain which drugs were used and how many others failed tests that never became public.


Even though testers consider rapid weight gain suspicious, in practice it doesn't result in testing. Ben Lamaak, who arrived at Iowa State in 2006, said he weighed 225 pounds in high school. He graduated as a 320-pound offensive lineman and said he did it all naturally.


"I was just a young kid at that time, and I was still growing into my body," he said. "It really wasn't that hard for me to gain the weight. I love to eat."


In addition to random drug testing, Iowa State is one of many schools that have "reasonable suspicion" testing. That means players can be tested when their behavior or physical symptoms suggest drug use. Despite gaining 81 pounds in a year, Lamaak said he was never singled out for testing.


The associate athletics director for athletic training at Iowa State, Mark Coberley, said coaches and trainers use body composition, strength data and other factors to spot suspected cheaters. Lamaak, he said, was not suspicious because he gained a lot of "non-lean" weight.


But looking solely at the most significant weight gainers also ignores players like Bryan Maneafaiga.


In the summer of 2004, Bryan Maneafaiga was an undersized 180-pound running back trying to make the University of Hawaii football team. Twice — once in pre-season and once in the fall — he failed school drug tests, showing up positive for marijuana use but not steroids.


He'd started injecting stanozolol, a steroid, in the summer to help bulk up to a roster weight of 200 pounds. Once on the team, he'd occasionally inject the milky liquid into his buttocks the day before games.


"Food and good training will only get you so far," he told the AP recently.


Maneafaiga's former coach, June Jones, said it was news to him that one of his players had used steroids. Jones, who now coaches at Southern Methodist University, believes the NCAA does a good job rooting out steroid use.


On paper, college football has a strong drug policy. The NCAA conducts random, unannounced drug testing and the penalties for failure are severe. Players lose an entire year of eligibility after a first positive test. A second offense means permanent ineligibility for sports.


In practice, though, the NCAA's roughly 11,000 annual tests amount to a fraction of all athletes in Division I and II schools. Exactly how many tests are conducted each year on football players is unclear because the NCAA hasn't published its data for two years. And when it did, it periodically changed the formats, making it impossible to compare one year of football to the next.


Even when players are tested by the NCAA, experts like Catlin say it's easy enough to anticipate the test and develop a doping routine that results in a clean test by the time it occurs. NCAA rules say players can be notified up to two days in advance of a test, which Catlin says is plenty of time to beat a test if players have designed the right doping regimen. By comparison, Olympic athletes are given no notice.


Most schools that use Drug Free Sport do not test for anabolic steroids, Turpin said. Some are worried about the cost. Others don't think they have a problem. And others believe that since the NCAA tests for steroids their money is best spent testing for street drugs, she said.


Doping is a bigger deal at some schools than others.


At Notre Dame and Alabama, the teams that will soon compete for the national championship, players don't automatically miss games for testing positive for steroids. At Alabama, coaches have wide discretion. Notre Dame's student-athlete handbook says a player who fails a test can return to the field once the steroids are out of his system.


The University of North Carolina kicks players off the team after a single positive test for steroids. Auburn's student-athlete handbook calls for a half-season suspension for any athlete caught using performance-enhancing drugs.


At UCLA, home of the laboratory that for years set the standard for cutting-edge steroid testing, athletes can fail three drug tests before being suspended. At Bowling Green, testing is voluntary.


At the University of Maryland, students must get counseling after testing positive, but school officials are prohibited from disciplining first-time steroid users.


Only about half the student athletes in a 2009 NCAA survey said they believed school testing deterred drug use. As an association of colleges and universities, the NCAA could not unilaterally force schools to institute uniform testing policies and sanctions, Wilfert said.


"We can't tell them what to do, but if went through a membership process where they determined that this is what should be done, then it could happen," she said.


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Associated Press writers Ryan Foley in Cedar Rapids, Iowa; David Brandt in Jackson, Miss.; David Skretta in Lawrence, Kan.; Don Thompson in Sacramento, Calif., and Alexa Olesen in Shanghai, China, and researchers Susan James in New York and Monika Mathur in Washington contributed to this report.


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Contact the Washington investigative team at DCinvestigations (at) ap.org.


Whether for athletics or age, Americans from teenagers to baby boomers are trying to get an edge by illegally using anabolic steroids and human growth hormone, despite well-documented risks. This is the first of a two-part series.


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Wall Street bounces back on hope for "cliff' solution

NEW YORK (Reuters) - U.S. stocks rebounded from early losses on Thursday after Republican House Speaker John Boehner said he would keep working on a solution to the "fiscal cliff" while also slamming President Barack Obama's approach to budget talks.


NYSE Euronext was the S&P 500's biggest gainer, surging 34 percent to $32.25 after IntercontinentalExchange Inc said it would buy the operator of the New York Stock Exchange for $8.2 billion.


ICE shares shot up 1.4 percent to $130.10.


Republicans in the U.S. House of Representatives pushed ahead with their own plan to avoid a series of steep tax hikes and spending cuts due in early 2013, complicating negotiations with the White House. Obama has vowed to veto the plan.


Investors have hoped for an agreement soon between policymakers, but progress has been slow. Boehner said he expected to continue to work with Obama, but repeated his charge that the president and Senate Democrats were trying to "slow walk" the country over the fiscal cliff.


"Speaker Boehner went on the air and basically told us he doesn't like what the president's doing or not doing, and the markets rallied on that, which was kind of weird," said Stephen Guilfoyle, a trader at Meridian Equity Partners, in New York.


The Dow Jones industrial average <.dji> gained 59.75 points, or 0.45 percent, to 13,311.72 at the close. The S&P 500 <.spx> rose 7.88 points, or 0.55 percent, to 1,443.69. The Nasdaq Composite <.ixic> climbed 6.02 points, or 0.20 percent, to 3,050.39.


Stocks rallied earlier in the week on signs of progress in the fiscal cliff negotiations. But with the S&P 500 up 14.8 percent so far this year, investors are taking the opportunity to engage in some hedging as 2012 comes to a close.


Herbalife lost 9.6 percent to $33.74 following news that hedge fund manager Bill Ackman was betting against the company as part of his big end-of-the-year short.


The S&P Financial Index <.gspf> gained 1.4 percent.


The U.S. economy grew 3.1 percent in the third quarter, faster than previously estimated, while the number of Americans filing new claims for jobless benefits rose more than expected in the latest week.


Existing home sales jumped 5.9 percent in November, more than expected, and by the fastest monthly pace in three years. An index of housing shares <.hgx> gained 0.78 percent.


But KB Home slid 6.4 percent to $15.60 as the company reported higher homebuilding costs and expenses in the fourth quarter.


About 6.4 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, roughly in line with the daily average so far this year of about 6.46 billion shares.


On the NYSE, advancers outnumbered decliners by a ratio of about 2 to 1. On the Nasdaq, five stocks rose for every three that fell.


(Additional reporting by Ryan Vlastelica and Leah Schnurr; Editing by Jan Paschal)



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