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Tuesday, July 3, 2012

Stocks mixed as American manufacturing slows

Specialists Frank Masello, left, and John T. O'Hara work on the trading floor of the New York Stock Exchange in New York shortly before the closing bell on Friday, June 29, 2012. Financial markets around the world stormed higher Friday after European leaders came up with a breakthrough plan to rescue banks, relieve debt-burdened governments and restore investor confidence. The Dow Jones industrial average climbed 277 points, and the Standard & Poor's 500 index had its best day of the year. Stocks advanced even further in Europe, in strong and weak countries alike. (AP Photo/David Karp)

NEW YORK (AP) ? Investors rejoiced over Europe last week. On Monday, they got back to worrying about the United States.

Stocks struggled to stay out of the red in quiet holiday-week trading after a trade group said American manufacturing shrank in June for the first time in almost three years.

The Dow Jones industrial average was higher in early trading but fell after the manufacturing report came out at 10 a.m. EDT and never recovered. It finished down 8.70 points at 12,871.39.

The Standard & Poor's 500 and the Nasdaq composite index both finished slightly higher after hopping between small gains and losses. The S&P rose 3.35 to 1,365.51. The Nasdaq rose 16.18 to 2,951.23.

Chemical company DuPont fell the most in the Dow. It lost $1.14, or 2.3 percent, to $49.43. Caterpillar, General Electric, Alcoa, Exxon Mobil, Boeing and other companies tied to manufacturing were also down.

It was a tepid performance compared with Europe's. Stock indexes in France, Britain and Germany rose more than 1 percent, still riding the euphoria from Friday's announcement that European leaders will make it easier for banks to get bailout loans. That news pushed the Dow up 277 points Friday.

The government did report a sliver of good news about the U.S. economy Monday, though investors seemed underwhelmed: Construction spending rose in May by 0.9 percent, the most in five months.

Monday was the first day of trading for the second half of the year. In the first half, the S&P gained more than 8 percent. Several financial analysts said they expected volatile markets, at least through the November presidential election.

"We don't know who it will be," said Benjamin Segal, portfolio manager for global equities at Neuberger Berman. "And even if we did, we don't know the particular policies they'd pursue."

Analysts also cited tax increases and spending cuts scheduled to take effect in January ? the so-called fiscal cliff.

Derrick Irwin, portfolio manager for Wells Fargo Advantage Funds, said the U.S. market would "muddle through the foreseeable future." Leo Grohowski, chief investment officer of Bank of New York Mellon's wealth management division, said the market would "continue to move from hope to despair."

Investors hope for some clarity later this week. U.S. car companies report monthly sales Tuesday, retailers like Target and Macy's report monthly sales on Thursday, and a closely watched report on U.S. jobs comes out Friday.

And though stocks rose in Europe, some analysts wondered how long those gains would last. Previous steps to ease the debt crisis have been met by market gains that quickly disappeared.

"The eurozone is really uncharted territory for a generation of investors," Irwin said. "I think anybody who thinks they really know what is happening there is, at best, guessing."

The day also brought reminders of how badly Europe needs help: Unemployment in the 17 countries that use the euro hit the highest level since the euro was launched in 1999.

In France, auditors warned that the country still has a big budget hole to plug. In Cyprus, leaders prepared for talks on its own bailout. And in Germany, the highest court announced it would hear arguments from people who want to block the rescue.

The yield on the benchmark 10-year U.S. Treasury note fell to 1.59 percent on Monday, down from 1.63 on Friday. The price of crude oil fell $1.21 to end the day at $83.75 per barrel.

In corporate news:

? Best Buy jumped $1.24, or 5.9 percent, to $22.20 after reports that its founder was nearing an offer to buy the company and take it private. Best Buy, an electronics store, has struggled to keep up with online-only competitors like Amazon.

? Groupon fell $1.12, or 10.5 percent, to $9.51 after analysts at Susquehanna cut their price target for the company, noting higher marketing expenses.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-07-02-Wall%20Street/id-54e1d50a825148828095b468bf633ce1

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Monday, July 2, 2012

Report: Homeless man scammed luxury hotel stays at others' expense

By msnbc.com staff

A homeless man is accused by police of living the high life in hotels, racking up thousands of dollars on other people?s credit cards, according to a report in Florida.

Drifter David Price was arrested on Friday and is being held at the Orange County Jail in Orlando, according to WTFV.

The station said Price would apparently watch hotel guests leave their rooms before slipping inside and claiming to be the guest, calling the front desk and extending the stay, sometimes by 10 days.

Despite being homeless for two years, he had managed to stay at others? expense in top hotels including The Ritz Carlton, Hard Rock Hotel and Loews Portofino Bay.?

At the latter, Price allegedly racked up nearly $9,000 in charges on the credit card of Ohio man Joseph Barak, WFTV said.

??I don?t know how he got in my room, how he got my debit card.? But he got like the best wines, the best restaurants, room service.? He got clothes and the whole ball of wax,? said Barak, was later able to get his money back.

Police reports indicate that investigators at Walt Disney World have also looked into possible fraud by Price, the station said.

The report could not immediately be confirmed with local police.

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Guys who like My Little Pony gather for 'BronyCon'

My Little Pony cartoon fans, some in Little Pony costumes, listen to a presentation at ?BronyCon? Saturday, June, 30, 2012, in Secaucus, N.J. This weekend's "BronyCon Summer 2012" at the Meadowlands Exposition Center attracted 4,000 men, women, boys and girls, many in colorful wigs and costume. (AP Photo/Mel Evans)

My Little Pony cartoon fans, some in Little Pony costumes, crowd isles of vendors at ?BronyCon? Saturday, June, 30, 2012, in Secaucus, N.J. Scores of men in brightly colored costumes were among the 4,000 My Little Pony fans at this weekend?s ?BronyCon? gathering in New Jersey for fans of a My Little Pony cartoon. ?Bronies? are guys who like ?My Little Pony: Friendship is Magic". (AP Photo/Mel Evans)

Matthew Zadonia carries a stuffed animal from the My Little Pony cartoons as he stands with others at ?BronyCon? Saturday, June, 30, 2012, in Secaucus, N.J. Scores of men in brightly colored costumes were among the 4,000 My Little Pony fans at this weekend?s ?BronyCon? gathering in New Jersey for fans of a My Little Pony cartoon. (AP Photo/Mel Evans)

Jeannine Riley, of Bethlehem, Pa., is dressed as the "My Little Pony cartoon character Pinkie Pie as she stands with Michele Moser, of Bethlehem, Pa., dressed as Rainbow Dash, while they walk at ?BronyCon? Saturday, June, 30, 2012, in Secaucus, N.J. This weekend's "BronyCon Summer 2012" at the Meadowlands Exposition Center attracted 4,000 men, women, boys and girls, many in colorful wigs and costume. (AP Photo/Mel Evans)

Josiah Tyrrell, of Syracuse, N.Y., is dressed as the character Flam from the My Little Pony cartoons as he stands with others at ?BronyCon? Saturday, June, 30, 2012, in Secaucus, N.J. Scores of men in brightly colored costumes were among the 4,000 My Little Pony fans at this weekend?s ?BronyCon? gathering in New Jersey for fans of a My Little Pony cartoon. (AP Photo/Mel Evans)

SECAUCUS, N.J. (AP) ? Dale Fjordbotten is a proud "My Little Pony" fan, with the shiny blue body suit and yellow lightning bolt, blue wings and blue tail to prove it.

Like many "Bronies" ? boys and men who like the cartoon "My Little Pony: Friendship is Magic"? the 25-year-old college student turned out over the weekend for "BronyCon Summer 2012" at the Meadowlands Exposition Center, which drew 4,000 men, women, boys and girls, many in colorful wigs and costumes.

"I thought about what people would say. 'It's creepy. It's weird. It's a ... show for little girls,'" said Fjordbotten, from Staten Island, N.Y. "It's just a great show ... the story line, the plot, the beautiful animation."

Bronies say they're a misunderstood lot who've gotten a bad rap from the media. They're all about the show, friendship, love and tolerance, and they have no bad intentions, they say.

"I discovered that there's nothing to be ashamed of being a Brony," said 19-year-old James Penna of Mastic in Long Island, N.Y. "People are into what they're into."

Outside the convention center, young men danced and sang along with songs from My Little Pony cartoon that blasted from loud speakers as a video screen on a large truck showed the show's characters. One observer said it almost felt like a Grateful Dead concert.

Inside, vendors sold stuffed ponies, pony accessories, pony signs, pony hats and just about every pony item imaginable. Stars who do the show's voices signed autographs and gave speeches.

Staff appeared to be a little overwhelmed at times. It was just over a year ago when BronyCon attracted about 100 people to some meeting rooms in New York City. Now there are thousands of Bronies across the country.

Hasbro released the first My Little Pony toys in 1983, and they led to television specials, a film and the first TV series from 1986 to 1987.

The brand stuck around through the years. But along came animator Lauren Faust, who was hired by Hasbro and sparked new life to My Little Pony when she created the "Friendship is Magic" series.

Faust had worked on "The Powerpuff Girls" and "Foster's Home for Imaginary Friends" before dreaming up the land of Equestria, where My Little Pony characters like Twilight Sparkle, Apple Jack, Rainbow Dash and Pinkie Pie get into all kinds of adventures.

Faust told The Associated Press at BronyCon on Saturday that she never imagined the show would be such a hit with teenage boys and young men. She said her main target was little girls, but she hoped to draw in moms and perhaps some boys with strong characters and compelling story lines.

"We live in a society where saying that something is for girls is the equivalent to saying that something is stupid, or saying that something isn't worthwhile," Faust said.

"I think that's awful and I think that kind of attitude needs to be changed," she said. "And these men are doing it. ... They're proud that they're forward-thinking and modern enough to look past this misogynistic attitude."

Faust said she, like the Bronies, is disturbed at the negative images some people have about men who like the show.

"There are a lot of people who when they first hear about men watching a show for little girls, they're taken to a creepy place," she said. "They think there's something wrong with that, something devious about it. I think that's unfortunate.

"I don't think you have to have bad intentions to like little girls or to like the things that they like," Faust said. "And it's upsetting to me that people jump to those conclusions. I think it's unfair to men and I think it's unfair to girls and women."

To set the record straight about Bronies, Faust, John de Lancie and others are producing a documentary that filmed over the weekend at BronyCon. De Lancie is the voice of Discord on "My Little Pony: Friendship is Magic" and is perhaps best known for playing "Q'' on "Star Trek: The Next Generation."

Zac North traveled from his hometown of Dayton, Ohio, to be with fellow Bronies in New Jersey this weekend. He dressed as his favorite character, the antagonistic Discord, wearing a hooded and multicolored costume complete with a dragon tail, since Discord is a pony-dragon hybrid.

Why does he like the show?

"It's colorful and innocent, which is something I don't have in my life," the 26-year-old Sam's Club worker said. "I like the community away from the show."

Twenty-year-old My Little Pony fan Gabby Pantaloni of Hershey, Pa., said she was kind of shocked that so many guys like the show, as she stood in a line at BronyCon to get her picture taken with other enthusiasts dressed like her favorite character Rarity.

"After watching the show, I could see why anyone of any age would like it," she said. "I think it just makes us all feel like kids again. Some of us are afraid of growing up. We're all just kids at heart."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-07-01-Whose%20Little%20Pony/id-fed3e66a1e9d440eadd9fd9c4715c296

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Sunday, July 1, 2012

Video: Chicago: 'A tale of two cities'

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New Vilma lawsuit asks for quick appeal ruling

By BRETT MARTEL

AP Sports Writer

Associated Press Sports

updated 1:45 a.m. ET July 1, 2012

NEW ORLEANS (AP) - Saints linebacker Jonathan Vilma is suing the NFL in federal court, claiming Commissioner Roger Goodell failed to make a timely appeal ruling regarding Vilma's season-long suspension in connection with the league's bounty investigation.

The lawsuit filed Saturday night in U.S. District Court in New Orleans also asks for a temporary restraining order to allow Vilma to continue working if Goodell upholds the suspension.

The suit contends Goodell has undermined "the integrity of the NFL and the Commissioner's office" by handing down punishments to Vilma and others based on evidence that is either flawed or cannot be substantiated.

It is the second lawsuit Vilma has filed in the matter. The first, filed in May and also in federal court in New Orleans, seeks unspecified damages from Goodell for defamation of character.

In his latest filing, Vilma claims that the NFL's collective bargaining agreement required Goodell to rule as soon as was practical following a June 18 appeal hearing. Because players, in protest, declined to present new evidence or argue their case in the hearing, Goodell should have been able to rule by June 25, the first business day after the record was closed in the matter, the lawsuit argues.

It was not clear if the NFL had seen the suit. Messages left with two league spokesmen Saturday night were not immediately returned.

In his latest attack of the NFL's handling of the bounty probe, Vilma contends punished players have only been able to see less than 1 percent of the 18,000 documents the league said it has compiled. His suit also claims that the few key pieces of evidence the league shared are flawed, including printed reproductions of handwritten notes.

"The NFL's alteration of other documents evidences that the NFL cannot substantiate the suspension, and undermines the integrity of the process," Vilma's lawsuit states.

The lawsuit seeks to discredit a key piece of evidence outlining bounty pledges from before the NFC championship game against Minnesota in January 2010, and also takes aim at fired assistant coach Mike Cerullo, who, according to Vilma, produced the document for the league.

Cerullo had a vendetta against the Saints after his firing following the 2009 season, and resented that the Super Bowl ring he received had been made with imitation (cubic zirconia) diamonds, the lawsuit contends.

The lawsuit claims Cerullo created the document "well after the 2009 NFC Championship game and in an effort to gain revenge against the Saints."

The suit further contends that a "close associate" of Cerullo has confirmed that Cerullo retracted his previous claims about the bounty program "in a communication directly with Goodell that occurred in April 2012."

The lawsuit notes that Goodell has not shared notes from interviews with Cerullo. Goodell also did not produce Cerullo as a witness at the appeal hearing or acknowledge Cerullo's retraction.

However, NFL spokesman Greg Aiello has denied that key witnesses in the bounty probe have retracted statements.

Aiello also has said the NFL has not issued any gag orders. Vilma's latest lawsuit, however, claims the NFL has ordered suspended former Saints defensive coordinator Greg Williams not to speak with suspended Saints players, coaches or officials as a condition for his reinstatement.

The NFL has said that Williams, who is suspended indefinitely, organized a bounty system that offered cash for hits that injured opponents, and which ran during his three seasons as defensive coordinator in New Orleans from 2009-11.

A close friend and associate of Williams, who was present for at least one discussion Williams had with Goodell, contends Williams never acknowledged the existence of a bounty program, Vilma's lawsuit said.

Williams' associate also contends that Williams has no information corroborating NFL findings that Vilma offered a $10,000 bounty for knocking quarterbacks Kurt Warner or Brett Favre out of 2009-10 playoff games.

The same associate confirmed that Goodell ordered Williams not to speak about the bounty matter with other punished individuals, the lawsuit said.

Source: http://nbcsports.msnbc.com/id/48030662/ns/sports-nfl/

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Down 2 sets, Federer comes back, wins at Wimbledon

WIMBLEDON, England (AP) ? When Roger Federer found himself down two sets and staring at an early exit from Wimbledon, the crowd at Centre Court thought back to the stunning upset that took place there a day earlier and wondered if it was witnessing a repeat.

Federer was thinking back, too, but his flashbacks had nothing to do with Rafael Nadal. It was the scenario Federer remembered, though, that ended up repeating itself.

"Having been there so often, down two sets to love, knowing how to handle the situation (was key)," Federer said.

He proved that again, as the six-time Wimbledon champion overcame a two-set hole for the eighth-time, beating Julien Benneteau of France 4-6, 6-7 (3), 6-2, 7-6 (6), 6-1 Friday in the third round. With the comeback, he narrowly avoided following Nadal out of Wimbledon after the Spanish two-time winner was stunned by 100th-ranked Lukas Rosol on Thursday.

Just like he had against 2009 U.S. Open champion Juan Martin del Potro in the French Open quarterfinals 3? weeks ago, Federer found a way to wrest back the initiative and fight back.

"The thing, when you're down two sets to love, is to stay calm, even though it's hard, because people are freaking out, people are worried for you," Federer said. "You don't have, obviously, many lives left out there. You just try to play tough and focus point for point. Sounds so boring, but it's the right thing to do out there."

Benneteau said he played perhaps the best match of his life, dictating play for much of the first two sets. Even that, though, proved insufficient against the 16-time Grand Slam winner.

"Mentally, he's a rock. He's two sets down and he doesn't show anything. And after that, if your level is a little bit lower ? right here, right now, he takes the opportunity," said Benneteau, whose cramping thighs were massaged by a trainer during two final-set changeovers. "At the beginning of the third set, I was not as good as I was in the first two sets, and in five minutes, it's 4-0."

Like Federer and Nadal, Novak Djokovic fell behind against someone he was expected to beat easily: The Serb ceded the first set, getting broken at love by No. 28 Radek Stepanek, Rosol's Davis Cup teammate for the Czech Republic. But quick as can be, Djokovic turned things around, breaking Stepanek to begin each of the next three sets for a 4-6, 6-2, 6-2, 6-2 victory that moved him closer to a semifinal showdown against Federer.

Once Djokovic had Stepanek's serve-and-volley style measured, the passing winners and shoetop-high returns started flowing. Talking about falling behind in the second set, Stepanek said: "Not a good move from my side, because once you get these top guys going, then it's tough to stop them."

Benneteau might have sounded the same lament. For quite a lengthy stretch, he played positively Rosol-esque tennis: hard serves and stinging groundstrokes directed at lines. No fear.

But Federer found an opening and barged through, saved in particular by this: He won 63 of the 80 points he served over the last three sets.

Both Djokovic ? who takes on unseeded Viktor Troicki in an all-Serbian matchup Monday ? and Federer ? who begins Week 2 by meeting 2002 Wimbledon semifinalist Xavier Malisse ? found it odd to be playing with Centre Court's retractable roof closed as a precaution, despite a blue sky overhead.

"That's a bit of getting used to. Indoor grass is not something we're quite familiar with," Federer said.

Here's what happened: A drizzle delayed the start of play Monday, so tournament officials decided to shut the roof. By the time it was closed, and Djokovic headed out to play, the sun was out.

"I was a little bit surprised, when I saw sunshine, that the roof is closed," Djokovic said. "Obviously, they're relying on a forecast that I don't think is very reliable here."

Among those moving into the fourth round on outdoor courts: Denis Istomin, the first player from Uzbekistan to make it that far at any Grand Slam tournament, No. 18 Richard Gasquet, No. 26 Mikhail Youzhny and No. 31 Florian Mayer. Unseeded American Sam Querrey, still working his way back up the rankings after right elbow surgery a year ago, finished off a suspended second-round match, eliminating No. 21 Milos Raonic of Canada 6-7 (3), 7-6 (7), 7-6 (8), 6-4.

Seeded women who won included No. 1 Maria Sharapova, No. 3 Agnieszka Radwanska, No. 8 Angelique Kerber and No. 15 Sabine Lisicki. Four-time major champion Kim Clijsters got through when No. 12 Vera Zvonareva, the 2010 Wimbledon runner-up, quit in the second set because of what she said was a respiratory infection, while 145th-ranked qualifier Camila Giorgi of Italy defeated No. 20 Nadia Petrova of Russia 6-3, 7-6 (6).

___

AP Tennis Writer Howard Fendrich contributed to this report.

Source: http://news.yahoo.com/down-2-sets-federer-comes-back-wins-wimbledon-220211476--spt.html

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Video: Faber Report: AB InBev

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