Monday, August 5, 2013

Obiturary: John Blodgett Stebbins, 85 | Wilton Bulletin

John Blodgett Stebbins, died peacefully at home, on Thursday, July 25, 2013, after a 15-month fight against lung cancer. Originally from Niagara Falls, New York, he was a graduate of St. Paul?s School (?46) and Harvard College (?50), and became a beloved educator in New York, Vermont, Massachusetts, and Connecticut.? He married the late Mary Emelie Tobias of Charleston, South Carolina while in the Navy there.? He is survived by his second wife, Janet Jones Stebbins of Scarborough, Maine; his children, John Blodgett Stebbins, Jr. of Brockton, Massachusetts, George Tobias Stebbins of Craftsbury, Vermont, and Elizabeth Stebbins Torkelsen of Wilton, Connecticut; four grandchildren: Alex, Ben, Emily, and Kristina; and two great-grandchildren: Bella and Chase.

John was passionate about his career as a teacher.? Although he briefly tried school administration, he always preferred the classroom.? Over the years, he taught subjects as diverse as astronomy, Latin, English and history. Despite his classical education and his ubiquitous bow ties, John never took himself too seriously.

As John would put it, he ?festered as a youth? in Niagara Falls, where he was proud of his parents, Dr. Edward C. Stebbins and Hope Blodgett Stebbins, and his younger brother Ned, Edward C. Stebbins, Jr.? Even so, at a tender age, he tried to run away, but only got as far as the corner because he was not yet allowed to cross the street by himself. ? Later, he fished coins out of the top of the American falls ? securely anchored by old clothesline.? He had a permanent impact on brother Ned ? having dropped a ball-peen hammer on his head from their tree-house, a fact which Ned never let him forget.? John drew pictures of horses, planes and trains at Maple Avenue School, then moved on to act in theater and play drums in the marching band at Deveaux School. When he missed an exam there, he was sent to St. Paul?s School, where he learned discipline, crew, and Latin.? After four merry years at Harvard College (?50), where he was a cartoonist for the Lampoon and a member of Hasty Pudding?s ?Hairy Leg Chorus,? he emerged an English major, which prepared him perfectly for his next four years in the Navy in the exotic port of Charleston, South Carolina.

His time in the Navy was memorable for his having been bitten by an IBM machine (his ?war wound? ? he wanted a purple heart but the corpsman gave him a bandaid and laughed); acting in many productions at the Dock Street and Footlight Theaters; drawing and painting their PlayBills; and meeting and marrying Mary Emelie Tobias (Toby).? He then returned to teach at his old school, Deveaux, in Niagara Falls.? He subsequently seized the opportunity to help found a school in Northern Vermont (Sterling School, now Sterling College, in Craftsbury Common, Vermont) with several Berkshire School faculty. At Sterling, he served in virtually every position from school carpenter to night watchman to Headmaster.

He designed and built his own house near the campus.? He constructed and played three banjoes, helped to launch the local fiddlers? contest, served as the town?s republican representative, was a deacon in his church, and continued to act in local theater.? He earned a Masters in School Administration at Johnson State College, and had brief stints at Manlius Pebble Hill School (New York) and Lamoille Union High School (Vermont) and later? became principal of Craftsbury Academy, the local high school.? Following the death of his first wife, he moved to Ashburnham, Massachusetts where he taught English and Latin and coached shot put and discus at Cushing Academy.? There he met and married his second wife, Janet Elizabeth Jones.

He also continued to pursue his passion for woodworking, building inlaid workbenches, headboards, and coffee tables.? He renovated their Maine summer cottage on MacMahan Island, adding a bedroom, woodshop and custom furniture. After his retirement from Cushing, he lived in Westminster and Walpole, Massachusetts before moving to Pomfret School, in Pomfret, Connecticut.? There, he served as the school?s top English, history, and Latin tutor, while continuing his success in watercolor painting, woodwork, and local theater.? During this time, he moved to an 1840 farmhouse in the neighboring town of Woodstock, where he converted half the old barn into the woodshop of his dreams. After many happy years there, he really retired, this time to Piper Shores Lifecare Community on the ocean in Scarborough, Maine, where he lived for his last four years. Weeks before his death, he celebrated his 85th birthday with children, grand-children, great grand-children, nieces and nephews, during which, as usual, all were riveted by his storytelling. He loved giraffes, model planes and railroads.? He always said his demise would come (embarrassingly) by being trampled by butterflies.? At the time of his death, he had almost finished memorizing Eliot?s The Love Song of J. Alfred Prufrock.? He is survived by Janet, Amber ? the dog, and many wonderful family, friends, and memories. A memorial concert in his honor is being scheduled for September in Scarborough. In lieu of flowers, please consider a contribution to Beacon Hospice, 54 Atlantic Pl., Portland, Maine 04106.

?by the family

Source: http://www.wiltonbulletin.com/7840/obiturary-john-blodgett-stebbins-85/

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Bothell man?s racing horse becomes inspiration to ovarian cancer community

Darrin Paul knew the filly was special from the start.

Bought at the Washington Thoroughbred Breeders and Owner?s Association Yearling Sale in 2008, Cathy Z?s Hope, or simply Hope, however, would prove to be more than special.

Despite a shortened three-session career on the track at Emerald Downs, Hope would become one of the most inspirational horses ever to race at the Auburn track.

?This one has an amazing story,? Paul said.

Paul, a breeder and owner based in Bothell, bought Hope less than a year after his mother-in-law, Catherine Zoe DeMatteis, lost her 10-year battle with ovarian cancer and died on June 10, 2007.

?I thought it might be a good idea to name the horse after her,? Paul said of DeMatteis, the mother of Paul?s wife, Tracie. ?And hope is the slogan or mantra of the Ovarian Cancer Foundation. We decided we would donate a portion of her earnings to the Marsha Rivkin Center (for Ovarian Cancer Research in Seattle).?

Initially, Hope ? trained by Frank Lucarelli ? appeared ready to make a splash at the track.

?Then in 2009 during training, she developed pleuropneumonia and a collapsed lung,? Paul said. ?She was given a very slim prognosis to survive.?

Hope was moved from Paul?s ranch to the Pilchuck Veterinary Equine Hospital in Snohomish and placed under the care of Dr. Wendy Mollat to treat the life-threatening inflammation of the lining surrounding the lungs.

?The doctors gave her a 50-50 chance,? Paul said. ?It was a difficult time. Here was this symbol of my wife?s mother that was going to help us with the healing process. I felt like the biggest schmuck. Why couldn?t I have named her Spot or something??

Hope proved resilient, and on April 21 ? DeMatteis? birthday ? Paul got good news.

?She took a turn for the better,? he said. ?It was a 60-day process to get her better, and after the Fourth of July she came back and resumed the normal life of a horse.?

Initially, Paul said, he didn?t think Hope would ever be able to race again.

?I figured she wouldn?t be good for racing because of the collapsed lung but that she would potentially make a good brood mare,? Paul said.

Despite his doubts, however, Paul turned Hope over to Lucarelli to prepare her for the track.

?We just took it slow,? Paul said. ?I kept expecting the call that she wasn?t going to make it. But she loved it. She loved to run. She would drag the riders to the track.?

In June 2010 Hope took to the track for the first time, three years after the death of her namesake.

?It?s pretty amazing that she had the perseverance to fight through and live,? Paul said. ?It was a victory of sorts for her just to have her on the track and racing.?

In her first outing, Hope ran a strong race, finishing third.

Then Paul and Lucarelli decided to start running the horse in mile events.

?It was amazing because we started running her a mile in her next 12 of 14 races and she ran second or better,? Paul said. ?She?s the only horse that I?m aware of that has come back from something like that and raced.?

Before Hope?s retirement last season, Paul said he invited some of DeMatteis? family and friends down to watch Hope run.

?We also had some of the people from the Rivkin Center come down and watch,? Paul said. ?There was a lot of energy around. She ended up winning. It was a very special and emotional time for a lot of people.?

Now Hope is retired and set to produce the next generation of Thoroughbreds.

?She?s actually in foal to Stevie Wonderboy, the winner of the 2005 Breeders? Cup Juvenile,? Paul said.

He added that any offspring of Hope that makes it to the track will also race to raise money for the Rivkin Center.

?It was just such a wonderful experience, we?ve pledged that we?ll continue it,? Paul said. ?We never could have imagined the heartfelt parallels with Cathy and Hope?s unrelenting will to live. None of us thought she would ever race with all the lung damage she had, but sometimes the unexplained reinforces the faith to never give up.?

Source: http://feeds.soundpublishing.com/~r/bknbsports/~3/zmJuKG_WxhI/217789361.html

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DDA approves land pooling policy - CommonFloor.com

Acquisition of land for civic purposes, as well as housing projects is now an easier task, all thanks to the approval given by the Delhi Development Authority (DDA), to the much-awaited land pooling policy. A DDA spokesperson informed that public-private partnership in land assembly and development in Delhi was approved.

Previously, DDA used to approach private owners and acquire land from them, at a low price, and then develop the same. The developed area, with residential or commercial properties, was then sold at premium rates. However, as the rate of properties escalated, this policy came under threat from land-owners who demanded more compensation.
Features of new policy

Land-owners would be highly benefited with the implementation of the new policy, since land pooling will return a major part of the land to the landowner, unlike expropriation. The new policy would prove to be a perfect method for city development and a good alternative for land banking and expropriation.Forty to sixty per cent of land, which is obtained by landowners through pooling, is returned to them after development of infrastructure by DDA. This can be kept by them or given to private developers.
The Board of Inquiry held hearings on June 22 and 23, suggesting that minimum land pooling size should be either 20 hectares and above, or between 2 and 20 hectares. The same was approved by DDA. In the former case, 60 per cent of the pooled land would be used by DDA (53 per cent for residential purpose, five per cent for commercial and two per cent for public and semi-public use), and in the latter 48 per cent of the pooled land would be used (43 per cent for residential, three per cent for commercial and two per cent for public and semi-public use). The previous ground coverage has also been increased from 33 per cent to 40 per cent.
Advantages of land pooling
?Promotes efficient, equitable and sustainable land development in the urban fringes.
?Provides opportunity for a planned development of the land and infrastructure network.
?Profitable to land-owners as the 40-60% of the developed land is handed back to them.

Future Plans
An additional?of about 48 lac population is expected to be provided with accommodation, under the Master Plan of Delhi 2021. It envisages development of about 20,000-24,000 hectares of land, obtained through land pooling. 50 percent of the pooled land would be utilized by DDA for building EWS units that would provide housing to economically weaker sections of the area.

Before the new policy is implemented, regulations for its operation would be formulated in which the role of DDA and the land owners are clearly mentioned. A proposal for a separate institutional framework with officials from DDA, is also put forward.
A DDA spokesperson said that under this new approach, all the plans shall be prepared through GIS technology, which would ensure exact superimposition of land use plans on revenue maps. It was also mentioned that, if necessary, amendments would be made in Land Acquisition Act, 1894, Delhi Land Reforms Act, 1954, Delhi Development Act, 1957 and Delhi Municipal Corporation Act, 1957. An approval of land pooling proposals or projects and its implementation, has also been approved by the DDA.

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Source: http://www.commonfloor.com/guide/dda-approves-land-pooling-policy-2-27591.html

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Sunday, August 4, 2013

It's not too late: Snap up deals on trips to Florida

Low roundtrip fares to Florida? Discounts on car rentals? Rubio outlines money-saving adventures to be had in Orlando, Key Largo, Fort Lauderdale, and Miami this month.

By Josie Rubio,?Contributor / August 2, 2013

Beachgoers enjoy a sunny day on Okaloosa Island in Fort Walton Beach, Florida earlier this summer. With United Airlines offering deals on fares to Florida, it may be the perfect time to take your family on vacation, Rubio says.

Devon Ravine/Northwest Florida Daily News/AP/File

Enlarge

Where did the summer go? With August here and back-to-school sales in full swing, kids everywhere are sharing a collective sigh thinking about the end of summer fun. But it?s not too late to book a trip to fun-filled Florida and soak up the last of summer at theme parks in Orlando or a beach in Miami, Fort Lauderdale, or the Keys. Start planning your getaway and check out these?roundtrip fares to Florida on United Airlines?(from $185.80, a low by $10; expires August 15).

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Once you?re there, explore the Sunshine State with a?car rental from Sixt, where you'll take 15% off (from $13.25 per day, a low by $53; expires August 15) and cash in on the third-lowest base rate we?ve seen from Sixt in the past 12 months.

Beauty and Adventure in Orlando

Orlando boasts myriad theme parks ? most famously Walt Disney World and Epcot ? but there?s truly something for everyone. Explore water parks such as Discovery Cove and Blizzard Beach, the marine life of Sea World, Florida?s swamp creatures at Gatorland, or out-of-this-world adventures with a visit to John F. Kennedy Space Center. No matter your itinerary, you can kick start your vacation with the excitement of booking a cheap?Orlando-area hotel?for as little as $26 per night. A Hotwire Mystery Hotel deal, you won't actually know the name of the property you'll be staying at until after you've booked. From there, plan your visit to nearby LEGOLAND where a?single-day adult ticket?is 30% off ($59, a low by $22; expires October 27). From there you can survey all of the park?s rides and activities from Island in the Sky, a 150-foot rotating platform, then take the kids to LEGOLAND Water Park where a wave pool, lazy river, tube and body slides, and an interactive play structure will keep them splashing about for hours on end. Deals for the whole family include a?single-day child/senior ticket?for $51, a?single-day child/senior ticket with water park admission?for $59, and a?single-day adult ticket with water park admission?for $67.

After a day of family fun, return to poolside relaxation or take in the setting sun overlooking Lake Davenport with a?4-night stay?in a villa at the?Bahama Bay Resort & Spa?(from $260, a low by $8; expires August 3). You'll be just minutes from theme parks and attractions and be saving: this promotion is the second-lowest rate we've seen this year for stays at this property. What's more, you'll score free parking and a room upgrade (meaning space for you?and?the kids!). The resort also boasts a children?s play area and basketball courts and fishing, which are the perfect places for the kids to get out all their energy pre- and post-theme park visits.

Dive Into Key Largo

Quite the opposite of Orlando, the Florida Keys boast an aura of "Ahh...." These islands have inspired everyone from literary great Ernest Hemingway (who called Key West home) to Old Hollywood, as it was setting for the 1948 film?Key Largo. Book your hotel as Bogey and Bacall would ? by phone ? to reserve a?stay at the Key Largo Resort?(from $99, a low by $20; expires September 30). The resort, which just received a $12 million makeover has its own private beach, where you can relax while the kids go snorkeling and swimming with dolphins.

From politics to the pulpit, faith groups see 'the hand of God' in ...

Maricela Aguilar delivered a cantaloupe to Rep. Steve King after his controversial comments on immigration.

By Carrie Dann, Political Reporter, NBC News

When lawmakers return to their home districts this August, they?re likely to hear strident opinions about immigration reform from local business owners, farmers, political activists, talk radio devotees and regular citizens engaged in the democratic process.

But many Christian leaders are hoping that they also hear the voice of the Almighty as well.

?It is very difficult to argue theologically that Jesus would be opposed to immigration reform,? says Rev. Samuel Rodriguez, the leader of the National Hispanic Christian Leadership Conference. ?Beyond the issue of the public policy, the heart of God is for those that are suffering and for the oppressed and the marginalized.?

Rodriguez?s group ? encompassing more than 40,000 evangelical congregations nationwide ? is just one of many faith-based organizations hoping to influence the immigration debate this fall by invoking scripture and the compassion of God, from the pulpit and at political events.??

Pro-reform Christian organizations trace their support for the overhaul from Biblical passages and parables; the most often-quoted is Matthew 25:35, which reads ??For I was hungry, and ye gave me meat; I was thirsty, and ye gave me drink; I was a stranger, and ye took me in.? Leviticus 19 is another common refrain: ?The stranger that dwelleth with you shall be unto you as one born among you, and thou shalt love him as thyself; for ye were strangers in the land of Egypt.?

Manuel Balce Ceneta / AP

Rep. Raul Grijalva, D-Nev., center, joins immigration reform supporters as they block a street on Capitol Hill in Washington, Thursday, Aug. 1, 2013, during a rally protesting immigration policies and the House GOP's inability to pass a bill that contains a pathway to citizenship.

But there are also very practical reasons for these organizations to engage in the pro-reform effort. Immigrants are increasingly a part of the fabric of American faith communities, advocates say ? even those in congressional districts that are still overwhelmingly white. And when undocumented individuals face poverty, health problems and deportations, they?re turning to churches for help.

?Most evangelicals who are concerned about immigration aren?t concerned about immigration as an abstract issue,? says Dr. Russell Moore, the new head of the Southern Baptist Convention?s Ethics and Religious Liberty Commission. ?They?re concerned about people in their pews who are facing a broken system. They?re concerned about families that are threatened with being split apart.?

The faith-based push is far from new, but it?s reaching peak volume as the effort to pass immigration reform that includes a pathway?to citizenship for undocumented immigrants is bogged down in the GOP-led House going into the August recess.

Some, like the National Hispanic Christian Leadership Conference, are specifically targeting Republican members of Congress who are on the fence by appealing to members of their congregation to attend town hall meetings and visit district offices. Others are more focused on building support for the reform effort through prayer and community events.

The United States Conference of Catholic Bishops is urging local dioceses to organize pilgrimages, devote masses and deliver sermons on the subject; it has also suggested Sept. 8 as a day of action for Catholics to pray for ? and speak up about ? immigration.??

The ?Bibles, Badges and Business? campaign, made up of diverse faith groups as well as law enforcement and business groups, is planning about 50 events nationwide, including roundtables, speeches and town hall visits. The Evangelical Immigration Table, a coalition made of up many of the same evangelical organizations, aims to target about 80 congressional districts with in-person visits, phone calls and op-eds, according to Jim Wallis, founder of Sojourners, a national Christian organization focused on social and racial justice.

?When a pastor with 5,000 members calls his member of Congress, he answers the phone,? Wallis said.

The alliances between different religious groups ? not always on the same page on other issues like sexual morality, war and the economy ? also allow the pro-reform coalition to offer a consistent message to people of faith from born-again Christians and Mormons, who have supported Republicans overwhelmingly in past presidential elections, to Catholics and mainline Protestants, who are more evenly split between the two parties.

Rep. Sheila Jackson Lee, D-Texas, joins MSNBC's Alex Witt to talk about immigration reform and the Voting Rights Act.

?The faith groups can reach to both sides of the spectrum,? said Kevin Appleby, the director of migration policy and public affairs at the U.S. Conference of Catholic Bishops. ?We have an ability to reach into offices where others may not be able to and make the argument that this is the right thing to do.?

Appleby acknowledges that the politics of immigration reform aren?t easy for some lawmakers, who may be hearing overwhelmingly from constituents who oppose the reform effort when they go home to heavily conservative districts.

Not all who hear the message are going to be convinced that creating a path to citizenship is the Christian thing to do. (Critics of the citizenship policy, after all, also cite the Bible, pointing to Romans 13: ?Let every person be subject to the governing authorities.?)

?But,? Appleby adds, ?it certainly doesn?t hurt for members to know that their church or their faith organization would support them on this, and thank them for it.???

Moore, from the Southern Baptist Convention, says that ? although his organization doesn?t specifically organize political activity ? the most effective way to influence lawmakers on the fence about the reform effort is simply to tell the stories of how the broken immigration system affects people in their own churches.

?As our congregations become more ethnically diverse ? and they are, rapidly ? our people are seeing the human element here,? he said. ?Those stories are finding their way out of local congregations and toward elected officials.?

A May 2013 study by the Pew Research Center?s Religion and Public Life Project estimated that, over the last two decades, the United States has admitted about 12.7 million legal immigrants who identify as Christians. ?About 60 percent of new legal immigrants last year were Christian.

And among undocumented immigrants, the percentage of Christians is even more striking. More than eight in ten undocumented immigrants are Christian, the study found, translating to an estimated 9.2 million individuals living in the United States today.

?The future of the churches, all of them ? Catholic, Southern Baptist, evangelical, mainline ? the future of our churches are immigrants,? Wallis says. ?They are our future.?

Rodriguez agrees, citing projections that show the majority of evangelicals in the United States may be Latino by the year 2030.

?The optics that guide the community in addressing immigration reform are not just morally driven ? which is the most important ? but are also about self-preservation,? Rodriguez says. ?

?The very future of American evangelicalism lies in the hands of the immigration reform debate. So it?s a matter of survival.?

This story was originally published on

Source: http://nbcpolitics.nbcnews.com/_news/2013/08/03/19819640-from-politics-to-the-pulpit-faith-groups-see-the-hand-of-god-in-immigration-reform?lite

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HDFC Life child plan sold to senior citizen erodes 96% of investment ...

Another example of how a toxic product, manufactured by an insurer, sanctioned by the insurance regulator, bought through a crooked agent can destroy your savings

Moneylife Foundation Insurance Helpline got a mail from Satish Shah (name changed) who complained, ?I was sold HDFC Life Young Star policy for sum assured of Rs2.5 lakh. After paying them Rs3.2 lakh for 6.25 years @Rs12,500 per quarter from June 2006, they have closed the policy and have offered me a total return of Rs11,678.17 as the value of the policy. The benefit illustration shows a return between Rs2.8 lakh and Rs3.2 lakh @6% and 10% respectively in their table of indicative return attached to the policy.? The customer relied on the misleading benefit illustration that conveniently ignored the steep mortality charges, which made up for 80% of the premium.

?

How did the insurance-cum-investment lose so much of value? Because of 100% loading of mortality charges due to medical condition of coronary artery disease. He says, ?They wanted me to go through some tests. After the test results, they agreed to the policy with the stipulation that the mortality charges would be increased a bit - no clarity as to what the new charges would be and what would be the impact in clear terms.?

?

In short, the insurance company benefits by keeping the customer in the dark about how much part of the premium really goes towards mortality charges. Do you think Mr Shah would have purchased the policy if the agent had simply disclosed that out of Rs50,000 yearly premium, more than Rs41,000 would go toward risk cover charges? Instead, the agent presents deceptive benefit illustration, sanctioned by the regulator, Insurance Regulatory and Development Authority to seal the deal.

?

It is certainly an ingenious way for a life insurance company as they benefit with hefty mortality charges due to higher age of the insured as well as from the expensive Waiver of Premium (WoP) feature. After all the other charges of premium allocation and policy administration charges are deducted, what goes into investment is negligible and hence the corpus after seven years is dismal.

?

The WoP feature, which is what differentiates a child plan, is an expensive affair due to the insurer taking additional risk of paying the premium each year till maturity in the event of insured?s death. So, instead of accumulating wealth for retirement purposes, the senior citizen destroys own savings handing it over to insurance companies. After the fund value becomes smaller than the mortality charges that have to be recovered, the insurance company closes the policy and returns the remaining peanuts to customer. The game is over.

?

HDFC Life cooked up this product when Deepak Satwalekar was the managing director. Mr Satwalekar, himself a highly risk-averse person, was always a vocal defender of such toxic products, the majority of them sold aggressively through HDFC Bank at enormous commission to the bank, revenues to the insurer and huge losses to the customer.

?

The question that begs asking is ?Why do senior citizens even think about buying an insurance plan and why is insurance company selling it to them?? Life insurance needs should be nil at retirement, else your retirement planning needs to be re-looked at. It is the lure of purported product returns along with hard sell of agents for their commissions that sets the trap. Customers seldom try to find out the risk cover charges. The mortality rates vary with insurers, they are allowed to charge without any cap. They rely on past claims? experience as one of the factors.

?

Want to know the fastest way of losing your money quickly? Buy a child plan when you are a senior citizen. That?s the only way insurers make money quickly?

?

Moral of the story: Never mix you insurance and investment needs. You will get the worst of both.

?

Moneylife contacted HDFC Life regarding the case. Here is their response:- ?We would like to bring to your notice that since Mr. Shah has already approached the Insurance Ombudsman, Delhi and Rajasthan with his complaint and the same is still pending before the Hon'ble Forum, hence we would not be in a position to provide any comment on the instant complaint, which is subsequent to the complaint before the Forum.?

Source: http://www.moneylife.in/article/hdfc-life-child-plan-sold-to-senior-citizen-erodes-96-of-investment-amount/33907.html

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Saturday, August 3, 2013

South African stocks surge to near record close

JOHANNESBURG (Reuters) - South African stocks surged 1.7 percent on Thursday, putting the benchmark Top-40 index within shouting distance of a record close, as investors continued to bet resource companies like Anglo American had fallen too far this year.

Petrochemicals firm Sasol gained almost 4 percent after it said it expects full-year earnings to increase by up to 30 percent, helped by higher production volumes.

"We are still seeing a good recovery in the very depressed metals markets," said Ferdi Heyneke, a portfolio manager at Afrifocus Securities.

"Because of all the negative sentiment related to labour issues those share prices have really been under tremendous pressure and the market is now realising that they have been overly discounted."

The benchmark Top-40 index rose 1.71 percent to 37,473.94, its third-highest close on record. The broader All-Share index gained 1.49 percent to 41,909.39.

Impala Platinum, the world's second-largest producer of platinum, was the top percentage gainer on the blue-chip index, advancing 4.6 percent to 101.54 rand while resources group Anglo added 4.1 percent to 222.16 rand.

Shares of gold miner AngloGold Ashanti rose 1 percent to 129.69 rand after South Africa's largest gold producer said its Tropicana project in Australia has been commissioned ahead of schedule and will begin producing gold in the third quarter.

Resources stocks have been hammered by soaring costs and labour unrest, sending their shares into a tail-spin this year.

AngloGold Ashanti is the worst performer on the Top-40 this year, down more than 50 percent. Impala Platinum has given up 40 percent this year, while Anglo American has lost 15 percent of its value.

More than 150 million shares changed hands, according to preliminary bourse data. Advancers outnumbered decliners at 185 to 107, with 58 stocks unchanged.

Source: http://news.yahoo.com/south-african-stocks-surge-near-record-close-164042925.html

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Friday, August 2, 2013

Wall St. hits record on strong data, central bank support

By Caroline Valetkevitch

NEW YORK (Reuters) - Stocks jumped on Thursday, pushing the S&P 500 above 1,700 for the first time, as data suggested the economy is still improving and as the Federal Reserve kept its stimulus plan in place.

Stocks were broadly higher, with all 10 S&P 500 sectors in the black, though growth-sensitive financials, industrials and consumer discretionary shares registered the biggest gains.

JPMorgan Chase , Bank of America and Wells Fargo were among the companies giving the greatest boost to the S&P 500. Shares of JPMorgan gained 1.6 percent to $56.61, Bank of America rose 2.3 percent to $14.94 and Wells Fargo added 1.7 percent to $44.24. The S&P 500 financial index <.spsy> was up 1.7 percent.

Data on weekly U.S. initial jobless claims and national manufacturing came in better than expected, while construction spending dropped 0.6 percent in June, below forecasts calling for a 0.4 percent rise.

They were the latest in a data-filled week. The drop in initial claims, coupled with Wednesday's better-than-expected ADP employment report, bodes well for July payrolls data on Friday.

The benchmark S&P rose to a new intraday high of 1,706.52, surpassing 1,700 early in the session after coming close but failing to break above that level on Wednesday.

"It keeps going higher in the face of skepticism," said Bruce Zaro, chief technical strategist at Delta Global Asset Management in Boston. "In my view, that is one of the positive longer-term signs."

The Dow Jones industrial average <.dji> was up 133.94 points, or 0.86 percent, at 15,633.48. The Standard & Poor's 500 Index <.spx> was up 19.98 points, or 1.19 percent, at 1,705.71. The Nasdaq Composite Index <.ixic> was up 44.49 points, or 1.23 percent, at 3,670.86.

In its latest policy statement on Wednesday, the Federal Reserve gave no hint that a reduction in the pace of its bond-buying program was imminent, as the economy continues to recover but is still in need of support.

Global central banks on Thursday also remained accommodative, with European Central Bank President Mario Draghi reiterating the ECB's rates will remain at their present level or lower for an "extended period.

Yelp Inc surged 25.6 percent to $52.51 after the consumer reviews website posted a smaller-than-expected quarterly loss and forecast third-quarter revenue above analysts' expectations.

Pioneer Natural Resources was the S&P 500's biggest percentage gainer after reporting second-quarter results. The company's shares jumped 13.5 percent to $175.65, after hitting an all-time high of $180.99 earlier in the session.

On the downside, Exxon Mobil Corp dipped 1.4 percent to $92.45, the biggest drag on the Dow and the S&P 500, after reporting a sharp drop in quarterly profit on lower oil and gas output production and weaker earnings from its refining business.

(Additional reporting by Alison Griswold; Editing by Chris Reese and Nick Zieminski)

Source: http://news.yahoo.com/p-500-ends-flat-fed-sticks-easy-money-000228206.html

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Stimulating brain cells can make false memories

[unable to retrieve full-text content]By activating a subset of brain cells in mice, researchers changed the way the animals remembered a particular setting. To determine if they could alter the way a mouse remembered a setting by activating neurons associated with it, researchers attempted to change whether or not a mouse was afraid of a particular cage. Their experiements implicated neurons in the brain's dentate gyrus as being responsible for inducing the animal's false memory of their cage.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/most_popular/~3/hLr-xoKzmwg/130801180303.htm

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Five ways CM Punk can beat Brock Lesnar

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Source: http://www.wwe.com/shows/summerslam/2013/five-ways-cm-punk-can-beat-brock-lesnar

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