S&P 500 posts worst day since November; McGraw-Hill shares sink

NEW YORK (Reuters) - Stocks slid on Monday, giving the S&P 500 its worst day since November, as renewed worries about the euro zone crisis caused the market to pull back from recent gains.

Shares of McGraw-Hill shed 13.8 percent to $50.30, their worst daily percentage decline since the October 1987 market crash, after news the U.S. Justice Department plans to sue Standard & Poor's, a unit of McGraw-Hill, over its mortgage bond ratings. It would be the first such federal action against a credit rating agency related to the recent financial crisis.

Chevron and Wal-Mart were among the biggest drags on the Dow after analyst downgrades, and all 10 S&P 500 sectors were lower. The losses follow Friday's market climb that left the S&P 500 at a five-year high and the Dow above 14,000.

"The market is extended and due for a pullback. I think people are looking for an excuse to make sales, and there (is) the concern coming from Europe," said Michael James, senior trader at Wedbush Morgan in Los Angeles.

Spanish and Italian bond yields rose, renewing worries about the euro zone's sovereign debt crisis. Spain's prime minister faced calls to resign over a corruption scandal, while a probe of alleged misconduct involving an Italian bank was expected to widen three weeks before a national election.

Adding to market pressure, data from the U.S. Commerce Department showed overall factory orders for December were below economists' expectations.

The Dow Jones industrial average <.dji> was down 129.71 points, or 0.93 percent, at 13,880.08. The Standard & Poor's 500 Index <.spx> was down 17.46 points, or 1.15 percent, at 1,495.71. The Nasdaq Composite Index <.ixic> was down 47.93 points, or 1.51 percent, at 3,131.17.

With 18.7 billion shares traded, it was the busiest day on record for McGraw-Hill shares. Shares of ratings agency Moody's Corp fell 10.7 percent at $49.45, their worst one-day drop since August 2011.

The benchmark S&P 500 rose on Friday, leaving it roughly 60 points away from its all-time intraday high of 1,576.09, while the Dow's march above 14,000 was the highest for the index since October 2007.

The S&P index remains up about 5 percent for the year, with nearly half of the gains coming after U.S. legislators temporarily sidestepped the "fiscal cliff" of automatic tax increases and spending cuts.

The CBOE Volatility index VIX <.vix>, Wall Street's so-called fear gauge, jumped 13.7 percent.

Chevron dipped 1.1 percent to $115.20 after UBS cut its rating to neutral, while Wal-Mart Stores Inc shed 1.2 percent to $69.63 after JP Morgan lowered its rating on the world's largest retailer and reduced its price target.

Shares of household products company Clorox rose 0.7 percent to $79.72 after quarterly profit beat analysts' estimates as a severe flu season boosted sales of disinfecting wipes.

According to Thomson Reuters data, of the 256 companies in the S&P 500 that have reported earnings through Monday morning, 68.4 percent have reported earnings above analyst expectations, compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters.

S&P 500 fourth-quarter earnings are expected to rise 4.4 percent, according to the data. That estimate is above the 1.9 percent forecast at the start of earnings season, but well below the 9.9 percent forecast on October 1.

In deal news, software maker Oracle Corp agreed to buy network equipment company Acme Packet Inc for $1.7 billion net of cash. Shares of Oracle were down 3 percent at $35.13 while Acme Packet shot up 23.7 percent to $29.59.

Shares of Herbalife Ltd ended up 1.3 percent at $35.54, recovering its losses ahead of the close. The New York Post reported the seller of weight loss products is facing a probe by the Federal Trade Commission.

Volume was roughly 6.3 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Decliners outpaced advancers on the NYSE by nearly 4 to 1 and on the Nasdaq also by about 4 to 1.

(Editing by Kenneth Barry and Nick Zieminski)

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The Lede Blog: Malala Yousafzai, Pakistani Girl Shot by Taliban Militants, Speaks in New Videos

Last Updated, 4:54 p.m. Speaking on camera for the first time since she survived an assassination attempt by the Pakistani Taliban last year, the young activist Malala Yousafzai began with the words, “Today you can see that I’m alive.” The 15-year-old, who was shot in the head as she left school in Pakistan’s Swat Valley four months ago, promised that she would continue to be an outspoken advocate of the right for “every girl, every child, to be educated.”

In the brief statement, the young advocate attributed her survival to the prayers of her supporters and urged them to contribute to a fund established in her name to further the cause of education for girls. “Because of these prayers, God has given me this new life,” Ms. Yousafzai said. “And this is a second life; this is a new life. And I want to serve, I want to serve the people.”

A video statement from Malala Yousafzai, a young Pakistani activist who was shot in the head by Taliban militants.

The English-language statement was recorded just before Ms. Yousafzai underwent surgery at the Queen Elizabeth Hospital in Birmingham, England, over the weekend to repair damage to her skull caused by the bullet fired into her head at point-blank range in October.

On Monday, the hospital released more video of the young patient, speaking to one of her doctors after the five-hour operation to reconstruct her skull and implant a device to restore hearing to her left ear.

Video of Malala Yousafzai speaking to a doctor in Birmingham, England after an operation on Saturday.

“I’m feeling alright and I’m happy that the operations, both the operations, were successful,” she told Dr. Mav Manji, a critical care specialist at Queen Elizabeth Hospital. Asked about the future, she said, “My mission is the same, to help people, and I will do that.” She also expressed her gratitude to the doctors in Pakistan and Britain who cared for her. “God gave me a new life,” she said, “because of the prayers of people and because of the talent of doctors.”

At a news conference on Monday, Dr. Anwen White, the neurosurgeon who led the reconstructive surgery, and Dr. Dave Rosser, the hospital’s medical director, explained that the titanium cranioplasty, which involved repairing the missing area of her skull with a specially molded titanium plate, “went very well.” (Video of the news conference was posted online by Britain’s Channel 4 News and the hospital uploaded images of the surgery in progress to YouTube.)

An update posted on the hospital’s Web site explained that, after the skull surgery, “Malala then had a cochlear implant fitted – a small, complex electronic device that provides a sense of sound to someone who is profoundly deaf or severely hard of hearing. The cochlear implant is to restore hearing to her left ear after she was left deaf in that ear by the bullet.”

As Fatima Manji of Britain’s Channel 4 News reports, the activist also recorded statements in Urdu and Pashto, languages spoken in Pakistan and Afghanistan. In the Urdu version, Ms. Manji notes, the girl said, “I would be willing to sacrifice myself again.”

#Malala has released her first public statement on camera #c4news http://t.co/2ZJKCwCO

— Fatima Manji (@fatimamanji) 4 Feb 13

In her Urdu statement #Malala says she is willing to “sacrifice herself again” so that all children can get an education. #c4news

— Fatima Manji (@fatimamanji) 4 Feb 13

The video statement was produced for the Vital Voices Global Partnership, a nongovernmental organization based in Washington “that identifies, trains and empowers emerging women leaders,” which will administer the new “Malala Fund,” in cooperation with the young activist and her family.

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BlackBerry searching high and low in India, Indonesia

NEW DELHI/JAKARTA (Reuters) – Research in Motion Ltd must chart a tough course in its two key emerging markets of India and Indonesia: quickly launch cheaper handsets to woo lower-end subscribers while restoring its tattered brand among the countries’ status-conscious.

The company, which is rebranding itself BlackBerry after its best-known smartphone, has won millions of followers in these two Asian countries, mostly by selling cheaper handsets and offering service packages as low as $ 2 a month. So it’s unlikely that the Z10 model introduced last week, which operators in India expect to sell for around $ 750, will appeal to the users it must reach if it is to build market share.

“It’s clear that not only are India and Indonesia among the largest markets but in terms of future smartphone growth, they’re amongst the ones with the most potential,” said Melissa Chau, senior research manager at technology research group IDC in Singapore. “But the two devices that have been launched are not well aligned to the needs of these two markets.”

While the company does not break down its sales by country, data from IDC shows that Indonesia was BlackBerry’s biggest market outside the United States and Britain last year, while India was ninth.

ABI Research said that BlackBerry accounted for nearly half of Indonesia’s smartphone shipments in 2012. Compare this with a global share of just 5.3 percent. In India, the world’s second-largest mobile phone market, BlackBerry ranks third after Samsung Electronics Co Ltd and Nokia.

In both countries, young people are drawn by low-cost handsets allowing them to communicate for free on the BlackBerry Messaging Service (BBM). Almost all carriers offer services for the device. Indonesia’s XL Axiata Tbk PT, for example, saw a 45 percent jump in BlackBerry subscribers last financial year after offering packages for as little as 20 cents per day.

But this picture is changing rapidly.

The rise of messaging services such as WhatsApp that are not confined to any single operating system and the proliferation of cheap Android devices have diluted the BlackBerry’s appeal.

Mickey Nayoan, a 32-year old product designer in Jakarta, swapped his BlackBerry for a Samsung phone six months ago and isn’t missing it.

“I survived without BlackBerry because there’s WhatsApp,” he said. “More and more people use it and so I don’t need BBM anymore.”

At the same time, higher-end users have deserted what is increasingly seen as a low-end brand.

“When they came up with the cheaper versions, that took the allure off the brand for many Indonesians who are very status-conscious,” said Ong Hock Chuan, a Jakarta-based communications consultant.

ANDROID MAKES INROADS

While BlackBerry remained the number one smartphone brand in Indonesia in the second quarter of last year, the most recent period for which rankings were available, Android overtook it as the most popular operating system, according to IDC.

IDC said when it released the data last September that this was partly because of delays in the launch of the BlackBerry 10. The Z10 is likely to launch in the second half of February in India and in late March in Indonesia.

Data from StatCounter, a website which estimates mobile web traffic, shows BlackBerry’s share in Indonesia falling from about 20 percent in 2011 to about 5 percent last year.

On the other hand, carriers and users say, glitches with BlackBerry services and a perception that the brand has lost some of its luster mean that it will be hard to sell the Z10 and a keyboard model, the Q10, even to better-off users.

“It really depends on how BlackBerry 10 performs. If it can fix problems of previous BlackBerry (services) it could succeed in the market,” said Hasnul Suhaimi, CEO of Indonesia’s XL Axiata. But for now, he said, “it will just be about people swapping out existing devices.”

To reverse this, BlackBerry must announce cheaper devices quickly, analysts say. BlackBerry launched handsets designed on its old platform for just such users in India and Indonesia last year.

“The Z10… is obviously a high-end product and India is not a market at that price point,” said Anshul Gupta, an industry analyst at technology advisory firm Gartner in Mumbai. “We don’t know exactly what will be coming here, but I would expect them to launch different models in India which would give them more traction.”

(Additional reporting by Henry Foy in Mumbai and Jeremy Wagstaff in Singapore; Writing by Jeremy Wagstaff; Editing by Emily Kaiser)

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Harry Styles Celebrates 19th Birthday with a Stripper

By Alison Schwartz

02/03/2013 at 04:35 PM EST

Harry Styles

Weir Photos/Splash News Online

It was just more than a month ago that Harry Styles was helping then-girlfriend Taylor Swift celebrate her birthday with a quiet trip to rural northern England.

But now that he's single, the One Direction hunk opted for a less low-key celebration to mark his 19th birthday. And instead of hanging out with a girlfriend, he got up close and personal with a very, very different lady: a stripper.

Hitting a London club for a Friday night celebration with his friends, including bandmate Niall Horan, the racy rendezvous was a gift from Radio 1's DJ Nick "Grimmy" Grimshaw. And it was more ridiculous than racy, Styles tells the U.K.'s Sun.

"It was great," he said. "I was in stitches – it was really funny."

Added Horan on Twitter: "Was a right laugh."

In character as a cop, his birthday present gave him a lap dance, reports The Sun, before playfully arresting him. Adding to the hilarity: "The funniest part was that when she finished she said, 'I'm really sorry. I couldn't find my truncheon, so I had to bring my nunchucks.' That was a bit weird," he said.

But the festivities weren't quite as X-rated as it sounds. "She stripped down to her underwear," according to Styles, "but unfortunately there was a no-nudity policy in the bar."

The teen idol partied until 3 a.m. before heading to a friend's house. "Put it this way – it was a long day," he said. "We had two nights on the trot, but you have to on your birthday, don't you?"

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New rules aim to get rid of junk foods in schools

WASHINGTON (AP) — Most candy, high-calorie drinks and greasy meals could soon be on a food blacklist in the nation's schools.

For the first time, the government is proposing broad new standards to make sure all foods sold in schools are more healthful.

Under the new rules the Agriculture Department proposed Friday, foods like fatty chips, snack cakes, nachos and mozzarella sticks would be taken out of lunch lines and vending machines. In their place would be foods like baked chips, trail mix, diet sodas, lower-calorie sports drinks and low-fat hamburgers.

The rules, required under a child nutrition law passed by Congress in 2010, are part of the government's effort to combat childhood obesity. While many schools already have improved their lunch menus and vending machine choices, others still are selling high-fat, high-calorie foods.

Under the proposal, the Agriculture Department would set fat, calorie, sugar and sodium limits on almost all foods sold in schools. Current standards already regulate the nutritional content of school breakfasts and lunches that are subsidized by the federal government, but most lunchrooms also have "a la carte" lines that sell other foods. Food sold through vending machines and in other ways outside the lunchroom has never before been federally regulated.

"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should be supported when kids walk through the schoolhouse door," Agriculture Secretary Tom Vilsack said.

Most snacks sold in school would have to have less than 200 calories. Elementary and middle schools could sell only water, low-fat milk or 100 percent fruit or vegetable juice. High schools could sell some sports drinks, diet sodas and iced teas, but the calories would be limited. Drinks would be limited to 12-ounce portions in middle schools and to 8-ounce portions in elementary schools.

The standards will cover vending machines, the "a la carte" lunch lines, snack bars and any other foods regularly sold around school. They would not apply to in-school fundraisers or bake sales, though states have the power to regulate them. The new guidelines also would not apply to after-school concessions at school games or theater events, goodies brought from home for classroom celebrations, or anything students bring for their own personal consumption.

The new rules are the latest in a long list of changes designed to make foods served in schools more healthful and accessible. Nutritional guidelines for the subsidized lunches were revised last year and put in place last fall. The 2010 child nutrition law also provided more money for schools to serve free and reduced-cost lunches and required more meals to be served to hungry kids.

Sen. Tom Harkin, D-Iowa, has been working for two decades to take junk foods out of schools. He calls the availability of unhealthful foods around campus a "loophole" that undermines the taxpayer money that helps pay for the healthier subsidized lunches.

"USDA's proposed nutrition standards are a critical step in closing that loophole and in ensuring that our schools are places that nurture not just the minds of American children but their bodies as well," Harkin said.

Last year's rules faced criticism from some conservatives, including some Republicans in Congress, who said the government shouldn't be telling kids what to eat. Mindful of that backlash, the Agriculture Department exempted in-school fundraisers from federal regulation and proposed different options for some parts of the rule, including the calorie limits for drinks in high schools, which would be limited to either 60 calories or 75 calories in a 12-ounce portion.

The department also has shown a willingness to work with schools to resolve complaints that some new requirements are hard to meet. Last year, for example, the government relaxed some limits on meats and grains in subsidized lunches after school nutritionists said they weren't working.

Schools, the food industry, interest groups and other critics or supporters of the new proposal will have 60 days to comment and suggest changes. A final rule could be in place as soon as the 2014 school year.

Margo Wootan, a nutrition lobbyist for the Center for Science in the Public Interest, said surveys by her organization show that most parents want changes in the lunchroom.

"Parents aren't going to have to worry that kids are using their lunch money to buy candy bars and a Gatorade instead of a healthy school lunch," she said.

The food industry has been onboard with many of the changes, and several companies worked with Congress on the child nutrition law two years ago. Major beverage companies have already agreed to take the most caloric sodas out of schools. But those same companies, including Coca-Cola and PepsiCo, also sell many of the non-soda options, like sports drinks, and have lobbied to keep them in vending machines.

A spokeswoman for the American Beverage Association, which represents the soda companies, says they already have greatly reduced the number of calories that kids are consuming at school by pulling out the high-calorie sodas.

___

Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick

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"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.

That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.

Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.

Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.

Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.

"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."

The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.

Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.

Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .

But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.

Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.

During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.

MOM AND POP STILL WARY

Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.

This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.

Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.

"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.

Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.

He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.

Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.

On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.

Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.

Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.

Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.

(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

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Pentagon Expects U.S. to Retain Presence in Afghanistan

WASHINGTON — The Pentagon’s top civilian and military officials on Sunday expressed expectations, even a desire, that American troops would remain in Afghanistan after the NATO mission ends in December 2014, although they emphasized that no decision had been made.

Defense Secretary Leon E. Panetta and Gen. Martin E. Dempsey, chairman of the Joint Chiefs of Staff, said the United States would sustain a strategic partnership with Afghanistan, and cited a decision by NATO heads of state during a summit meeting in President Obama’s hometown of Chicago that long-term support for Kabul would include military assistance.

“In Chicago, we also said that we’re committing to an enduring presence,” Mr. Panetta said. “And I believe that the president of the United States is going to do everything possible to implement the Chicago agreements.”

During joint appearances on the NBC News program “Meet the Press” and the CNN program “State of the Union,” Mr. Panetta and General Dempsey sought to define and defend an 11-year-old mission in Afghanistan whose objectives have become fuzzy in the minds of many Americans, just as Mr. Obama weighs how rapidly to withdraw the remaining troops and considers how many to propose leaving there after 2014.

In advance of a visit to Washington by President Hamid Karzai of Afghanistan last month, some White House officials said that leaving no troops behind remained an option — though some viewed the comments as a negotiating tactic. Any American troop presence after the conclusion of the NATO mandate requires agreement between Kabul and Washington.

Some sticking points remain, including a Defense Department demand for immunity for American service personnel, whose misconduct would be adjudicated under the Pentagon’s Uniform Code of Military Justice, not Afghan law. The Departments of Defense and State sought, but failed to secure, a similar agreement to leave a sizable training and advising force in Iraq after the end of combat there.

“No one has ever suggested zero to me,” General Dempsey said, referring to the number of postwar troops in Afghanistan, although he stressed that “the decision on numbers hasn’t been made yet.”

Pressed to define the mission in Afghanistan, General Dempsey said it was “to establish a secure and capable Afghanistan that can govern itself and ensure that Al Qaeda never again establishes a safe haven in that country.” He argued that coalition forces have diminished the Taliban’s capabilities. “Violence has gone down,” he said. “We’re also developing an Afghan army that has increased its operational skill to provide security.”

Mr. Panetta also expressed confidence that former Senator Chuck Hagel of Nebraska would be a strong defense secretary, despite a bitterly partisan confirmation hearing last week in which the nominee to succeed Mr. Panetta stumbled over some answers. General Dempsey noted that several important security issues — like Afghanistan, where 66,000 American troops are at war — were nearly absent during a full day of Senate questioning of Mr. Hagel.

Mr. Panetta also criticized the agenda pursued by some senators in their questioning of Mr. Hagel. He said, for example, that not enough attention had been paid to the Pentagon budget and what happens if automatic budget cuts — called sequestration — go into effect as scheduled on March 1.

He said that if a fiscal deal is not reached to forestall those cuts, then the armed forces would be weakened and less able to respond to global crises.

“There are members up on the Capitol Hill that are saying, ‘Oh no, we’re going to stand back and let sequester happen,’ ” Mr. Panetta said. “Let me tell you, if sequester happens, it is going to badly damage the readiness of the United States of America.”

He said the type of cuts that would be required under sequestration “will go right at readiness, right at maintenance, right at training. We are gonna weaken the United States and make it much more difficult for us to respond to the crises in the world.”

General Dempsey said that sequestration cuts would be only part of the limits on military spending. He noted that the Defense Department is now operating under a continuing resolution on its spending, and he estimated that total cuts in the last half of the fiscal year could reach $52 billion.

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The Next PlayStation: 5 Lessons I Hope Sony’s Learned

From wishful thinking to shockingly sudden all-but-certainty, Sony‘s next game system may be here at last (I’ll try to avoid calling it things Sony hasn’t, like “PlayStation 4″ or “Orbis”), apparently head-faking Microsoft to debut earlier than expected at what’ll no doubt be a media circus in New York (and online) come Feb. 20.

The event invite cleared my inbox last night accompanied by, well, see for yourself in Sony’s slick dubstep tease above. Sony labeled the event “PlayStation Meeting,” which is sort of like calling E3 “L.A. Occurrence,” but, well, marketing.

(MORE: How to Watch the Super Bowl Live Online)

At this point, your guess would have been as good as mine: probably the next PlayThing, because what else is Sony going to hype for three weeks and drag folks to from all corners of the earth? Still, I could have flown around the room on a broomstick: a PlayStation VitaPad, a PlayStation Phone (pPhone!), or heck, even Sony’s answer to Google‘s Project Glass (Sony GlassStation!).

But no, the Wall Street Journal went and spoiled the fun by claiming that, yes indeed, Sony’s going to give us a peek at its next games console and ship the thing later this year, probably around the holidays. I consider that slightly more plausible than hearsay since it’s the Journal, but bear in mind it’s still a claim based on unidentified sources (the Journal pulls the phrase “people familiar with the matter” off the shelf at least four times).

No surprise, the story’s taken off like a guy air-riding a horse, prompting a bunch of people to throw odd notions at the wall based on even sketchier sourcing. Instead of regaling you with tales of mystical multi-core processors pulling contextually meaningless speeds, why don’t we look back at some of the things I suspect we’d all agree Sony needs to do better the next time around.

Don’t launch at $ 500-$ 600. I still can’t imagine what Sony was thinking in 2006 (well, beyond “we can barely afford to build this franken-thing!”). Yes, everyone loved the PlayStation 2, and no, not enough to spend that kind of money on the PlayStation 3. No, I don’t know what the company ought to sell a new game console for, but I’ll refer you down the aisle to the Wii U: currently struggling at $ 300-$ 350. If Sony launches higher (and doesn’t include something like a free iPad), especially in a weak economy, it may find it’s looking for dance partners all over again.

(MORE: Are Weak Wii U Sales a Bellwether of Shifting Game Demographics?)

The new PlayStation Network (or whatever Sony rebrands it) needs to be seamless. None of this irritating “synchronizing trophies” business, waiting ages for features like background downloads or “cross-voice game chat is really coming!” except it’s really not. Also, while my lizard brain still sort of responds to the nerdy elegance of the PlayStation 3′s XrossMediaBar, after all these years there’s just something warmer and friendlier about Xbox LIVE. I have a roughly equal number of friends in both ecosystems, so it’s not that; I’ve just come to prefer navigating TV environments that feel a little less clinical. (The Journal says Sony’s new system is more social media-driven, so unless Sony’s launching a standalone answer to Facebook, I expect we’ll see the interface sporting newfangled riffs on Twitter/Facebook/Instagram/Google+/etc. integration.)

Resist the urge to go all three-ring-circus on us. Sitting through Sony/Microsoft pressers sometimes feels like watching Tim Robinson and Will Ferrell squeeze bottles of Cookie Dough Sport over their heads. Spare us the strobe lights and sizzle reels and maybe just level with us like we’re adults and not a bunch of Red Bull-amped teenage boys at a Lady Gaga concert.

Don’t make it all about the graphics. I mean sure, we all like pretty games, but 5x, 10x, 100x the PS3′s oomph…it’s now all kind of abstract and pointless given how sophisticated games already look today. I want to know what those extra cycles are going to do for me gameplay-wise, and I don’t mean visually, e.g. better “god-rays” or “subsurface scattering” or a gazillion bendable blades of grass. Can this thing sustain an artificially intelligent being that’d pass a Turing Test? And can you work that into a game that’s actually fun to play?

Don’t be the last kid to the party. Hello, stuff like Grand Theft Auto IV and Skyrim DLC. Microsoft scored coup after coup this round in terms of timed exclusive or outright exclusive content. And yes, I’m sure it cost the company a pretty penny, but gamers are going to go where the games they want to play live. If their sense is that’s not Sony, well, it’s not rocket science. And some of the dropped balls this round were doozies: Skyrim‘s one of the bestselling games of all time and it’s been out since November 2011. Bethesda just announced today that PS3 users can finally get their hands on the downloadable content in a few weeks, whereas Xbox 360 users have had at it for months.

MORE: 3 Things That Still Worry Me About BlackBerry

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Jim Nabors on Life as a Newlywed and Macadamia Nut Farmer

By Monica Rizzo

02/02/2013 at 05:00 PM EST

When actor Jim Nabors married Stan Cadwallader, his partner of 38 years last month, he wasn't trying to make a political statement about gay marriage. He just wanted to marry the man he calls "best friend."
 

"We've been together a long time and we just thought, 'let's solidify this,'" Nabors, 82, tells PEOPLE from Hawaii.
 

The former Andy Griffith Show and Gomer Pyle star and Cadwallader, 64, flew to Seattle – gay marriage is legal in Washington state – for a no-nonsense ceremony on Jan. 15, presided over by a longtime friend who is a judge. 

"This was kind of dotting the 'Is' and crossing the Ts,'" Nabors says, revealing that the couple did exchange rings along with their "I dos."

 
"That was really weird at my age," he says, laughing. "I never thought this would happen to me. Believe me, I didn't."
 

Nabors has been equally astonished by the response since news broke of the nuptials.
 

"People have called all over and it's kind of surprised me. I appreciate the good thoughts," says Nabors, who adds that he and Cadwallader enjoy what he calls "a good life" in Hawaii. "I'm a farmer! We have a farm that's part of the National Tropical Botanical Garden on Maui and we raise macadamia nuts." 
 

The newlyweds (the term makes Nabors chuckle) "are very happy," says Nabors. "One thing I've learned is when you find a best friend in this life you better hang on."

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New rules aim to get rid of junk foods in schools

WASHINGTON (AP) — Most candy, high-calorie drinks and greasy meals could soon be on a food blacklist in the nation's schools.

For the first time, the government is proposing broad new standards to make sure all foods sold in schools are more healthful.

Under the new rules the Agriculture Department proposed Friday, foods like fatty chips, snack cakes, nachos and mozzarella sticks would be taken out of lunch lines and vending machines. In their place would be foods like baked chips, trail mix, diet sodas, lower-calorie sports drinks and low-fat hamburgers.

The rules, required under a child nutrition law passed by Congress in 2010, are part of the government's effort to combat childhood obesity. While many schools already have improved their lunch menus and vending machine choices, others still are selling high-fat, high-calorie foods.

Under the proposal, the Agriculture Department would set fat, calorie, sugar and sodium limits on almost all foods sold in schools. Current standards already regulate the nutritional content of school breakfasts and lunches that are subsidized by the federal government, but most lunchrooms also have "a la carte" lines that sell other foods. Food sold through vending machines and in other ways outside the lunchroom has never before been federally regulated.

"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should be supported when kids walk through the schoolhouse door," Agriculture Secretary Tom Vilsack said.

Most snacks sold in school would have to have less than 200 calories. Elementary and middle schools could sell only water, low-fat milk or 100 percent fruit or vegetable juice. High schools could sell some sports drinks, diet sodas and iced teas, but the calories would be limited. Drinks would be limited to 12-ounce portions in middle schools and to 8-ounce portions in elementary schools.

The standards will cover vending machines, the "a la carte" lunch lines, snack bars and any other foods regularly sold around school. They would not apply to in-school fundraisers or bake sales, though states have the power to regulate them. The new guidelines also would not apply to after-school concessions at school games or theater events, goodies brought from home for classroom celebrations, or anything students bring for their own personal consumption.

The new rules are the latest in a long list of changes designed to make foods served in schools more healthful and accessible. Nutritional guidelines for the subsidized lunches were revised last year and put in place last fall. The 2010 child nutrition law also provided more money for schools to serve free and reduced-cost lunches and required more meals to be served to hungry kids.

Sen. Tom Harkin, D-Iowa, has been working for two decades to take junk foods out of schools. He calls the availability of unhealthful foods around campus a "loophole" that undermines the taxpayer money that helps pay for the healthier subsidized lunches.

"USDA's proposed nutrition standards are a critical step in closing that loophole and in ensuring that our schools are places that nurture not just the minds of American children but their bodies as well," Harkin said.

Last year's rules faced criticism from some conservatives, including some Republicans in Congress, who said the government shouldn't be telling kids what to eat. Mindful of that backlash, the Agriculture Department exempted in-school fundraisers from federal regulation and proposed different options for some parts of the rule, including the calorie limits for drinks in high schools, which would be limited to either 60 calories or 75 calories in a 12-ounce portion.

The department also has shown a willingness to work with schools to resolve complaints that some new requirements are hard to meet. Last year, for example, the government relaxed some limits on meats and grains in subsidized lunches after school nutritionists said they weren't working.

Schools, the food industry, interest groups and other critics or supporters of the new proposal will have 60 days to comment and suggest changes. A final rule could be in place as soon as the 2014 school year.

Margo Wootan, a nutrition lobbyist for the Center for Science in the Public Interest, said surveys by her organization show that most parents want changes in the lunchroom.

"Parents aren't going to have to worry that kids are using their lunch money to buy candy bars and a Gatorade instead of a healthy school lunch," she said.

The food industry has been onboard with many of the changes, and several companies worked with Congress on the child nutrition law two years ago. Major beverage companies have already agreed to take the most caloric sodas out of schools. But those same companies, including Coca-Cola and PepsiCo, also sell many of the non-soda options, like sports drinks, and have lobbied to keep them in vending machines.

A spokeswoman for the American Beverage Association, which represents the soda companies, says they already have greatly reduced the number of calories that kids are consuming at school by pulling out the high-calorie sodas.

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Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick

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