Friday, April 12, 2013

Fed's easy policy faces real test when it's time to exit: Fisher

EL PASO, Tex. (Reuters) - The Federal Reserve's unprecedented effort to ease monetary policy will face its biggest test when it comes time to withdraw the policy accommodation, a top Fed official said on Wednesday.

Once the economy begins to grow more quickly and banks start lending out more of the money that they now hold on the sidelines, "We are going to have to titrate or taper back the way that money flows back into the system," Dallas Fed President Richard Fisher said at the University of Texas at El Paso.

If the Fed fails to do so at the right rate, inflation could start to take hold, he warned.

Fisher repeated his view that he would not favor an immediate end to the Fed's asset purchases, but wants an end to them because they are less effective than they were at the beginning. He said and his colleagues at the Fed last month had a "serious discussion" about when and whether to taper bond buys.

(Reporting by Ann Saphir; Editing by Leslie Adler)

Source: http://news.yahoo.com/feds-easy-policy-faces-real-test-time-exit-222415813--business.html

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Great white sharks gorge on dead whale blubber

Chris Fallows / Apex Expeditions

A 15-foot great white shark tears off a 44-pound piece of blubber, sinew and flesh with lateral head shakes.

By Becky Oskin
LiveScience

Great white sharks feast together on dead whales, which are important food resources for the normally solitary predators, a new study finds.

Drawn by wind-blown slicks of chemicals from decomposing flesh, great white sharks measuring up to 16 feet (5 meters) long gathered at floating carcasses near South Africa's Seal Island, gorging on blubber, researchers found during observing trips in 2000-2010. These giant sharks rarely appear near the coast but may cruise nearby, waiting to pounce on dead or dying whales, the researchers said.

"These massive sharks come in pretty quickly ? within less than 24 hours," of a dead whale?s arrival, said study co-author Neil Hammerschlag, a marine ecologist at the University of Miami. "We hypothesize these animals are cruising the coastline to take advantage of these types of situations."

The communal feasts attracted as many as 40 great white sharks throughout the day, with up to five feeding at once, the authors reported in the April 9 issue of the journal PLOS ONE. There was no fighting, even when one shark accidentally bit another on the head, leaving behind two teeth, Hammerschlag said. However, a definite pecking order existed.

"The biggest sharks?came right in,?targeting areas of highest blubber content, while smaller sharks?fed on areas with less blubber or kept their distance from the whale, mostly?scavenging on pieces of blubber that drifted away from the carcass," lead study author Chris Fallows of Apex Shark Expeditions said in a statement.

Chris Fallows / Apex Expeditions

A great white shark removes blubber around the jaw of a southern right whale carcass.

Pecking order
The great whites apparently knew how to find the choicest whale flesh. One shark nibbled its way down a carcass, "like eating corn on the cob," Hammerschlag said. Several times, researchers watched sharks swallow blubber and barf it back up, then immediately tear off another piece, seemingly searching for the best chunks. One shark also removed and ate the dead near-term fetus of a Bryde's whale. [Watch a video of the shark feasts]

Eventually, the sharks ate so much they couldn?t open their jaws wide enough to take another bite, though they kept bumping their heads against the whale, the study found.

While shark foraging at whale carcasses has been seen before, the new study emphasizes the important role whale carcasses play as high-calorie food for mature great white sharks, the researchers said.

"Scavenging is a really important component of the foraging ecology of predators," Hammerschlag said.

How you doin??
And doesn't a feeding frenzy with blood, guts and slabs of dead whale sound like a perfect place for a date? The amiable mood created by the abundant food could be the perfect ambiance for shark mating, the study suggests.

The feeding frenzy also could have a cascading effect on local marine life: If sharks fill up on whale blubber, they eat fewer seals, which, in turn, start eating more of their favorite foods, like sea urchins, the researchers said. And after the great white sharks strip the whale blubber, the carcass sinks to the seafloor, where a host of species finishes off the remaining flesh.

"Apex predators play an important role in ecosystems, and this is another example," Hammerschlag said. "(Great white) sharks are a species of conservation concern globally, and this will help us understand more about their food web dynamics."

Email Becky Oskin or follow her @beckyoskin. Follow us?@OAPlanet, Facebook?or Google+. Original article on LiveScience's OurAmazingPlanet.

Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Thursday, April 11, 2013

Brazil authorizes Chevron to resume production

RIO DE JANEIRO (AP) -- Brazil's National Petroleum Agency says it has authorized Chevron Corp to resume production on six offshore wells off the coast of Rio de Janeiro after more than 100,000 gallons of crude seeped into the ocean there.

The agency says Friday's authorization will last one year. In an emailed statement, the Rio-based agency said a security team would be monitoring the U.S.-based company's operations.

An estimated 110,000 gallons (416,300 liters) of crude seeped into the ocean near the Chevron well in November, 2011. The leaks resumed several months later, and the company's production in the Frade field was suspended. The field had been producing around 62,000 barrels a day.

Criminal charges against Chevron and driller Transocean Ltd. were dropped but both still face two civil lawsuits seeking $20 billion in damages.

Source: http://news.yahoo.com/brazil-authorizes-chevron-resume-production-162322653.html

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Wednesday, April 10, 2013

A path to peace in land, resource disputes

A Taiwan-Japan agreement on fisheries near the Senkaku islands sets a model for China in avoiding dangerous moves on island claims.

By the Monitor's Editorial Board / April 10, 2013

One of the small islands in the East China Sea known as Senkaku in Japanese and Diaoyu in Chinese is seen from a Chinese marine surveillance plane last December. Taiwan also claims the islands.

Xinhua/AP Photo

Enlarge

When nations clash over land and resources, peace can often come like a cat moving in small, quiet steps. A good example is an agreement announced Wednesday between Taiwan and Japan.

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The pact allows the two Asian democracies to share the fisheries around a group of islands claimed by both countries but administered for decades by Japan. Known as the Senkaku in Japanese and the Diaoyu in Chinese, the islands have become a dangerous flash point between Beijing and Tokyo, driven by China?s strategy to dominate the sea lanes of East Asia.

Unlike nondemocratic China, however, both Taiwan and Japan recognize the wisdom of sidestepping sensitive sovereignty claims and instead seek joint use of natural resources. China?s use of force to stake its island claims has had the effect of forging alliances among its neighbors.

The pacifist approach by Taipei and Tokyo is a pragmatic way to avoid war, create prosperity, and build up enough trust to settle a dispute later. This kind of shared economic activity is done, of course, ?without prejudice to the final delimitation,? as lawyers like to say.

China, as expected, erupted with anger at the agreement. This is in sharp contrast to the fact that just a few years ago China was in talks with Japan for joint development of gas reserves in disputed waters of the South China Sea. Back then, Beijing?s leaders still adhered to the late Deng Xiaoping?s advice to shelve territorial differences and conduct joint development.

To be sure, a sharing of economic activity on disputed territory does not always guarantee resolution of political differences. One example is Secretary of State John Kerry?s strategy to boost the chances for Israeli-Palestinian talks by improving the economic flow between the two peoples.?

In his visit to the region, Mr. Kerry announced a plan Tuesday to boost the livelihoods of Palestinians by encouraging investment through US government and private-sector funds. A key part of such a plan would be an easing of Israeli checkpoints on Palestinian workers, allowing more cross-border commerce and investment.

?Economic growth will help us be able to provide ... an atmosphere, within which people have greater confidence about moving forward,? he said.

Such hopes for an ?economic peace,? as Israeli Prime Minister Benjamin Netanyahu calls it, will be difficult as long as Israel controls so much of Palestinian land, airspace, water, and communications.

The world does not lack for examples of mutual investment as a pacifying tool. Russia and Norway agreed in 2010 to joint oil development in a disputed area of the Barents Sea. Mexico and the United States agreed this year to jointly manage oil drilling along a maritime boundary. Many bilateral agreements have taken place in Southeast Asia, including Malaysia, Thailand, Brunei, and Singapore.

The pacts set a model for China to follow. ?Joint development can probably provide some tactical level victories in managing flash points,? said Lloyd Thrall of the RAND Corp. at a recent hearing of the US-China Economic and Security Review Commission. But he warns that such agreements ?treat symptoms rather than addressing root causes.?

Buying time, however, is a common strategy in diplomacy. It allows nationalist passions to cool and a common purpose between nations to grow.

Lest Beijing?s new leaders forget, Japan and China declared in a summit meeting just six years ago to make the East China Sea a ?sea of peace, cooperation and friendship.?

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/hj0S9U3_ptU/A-path-to-peace-in-land-resource-disputes

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'It was a sign': Lapsed Catholics lured back by Pope Francis

Gregorio Borgia / AP

Pope Francis waves as he is driven through a crowd in St. Peter's Square prior to the start of his weekly general audience on Wednesday.

By Tracy Connor, Staff Writer, NBC News

Twenty million Americans consider themselves lapsed Catholics, but Pope Francis is convincing many to test the holy waters again with his bold gestures and common touch.

After years of disenchantment with the church's hierarchy and teachings, former members of the flock say they are willing to give the Vatican a second chance under new leadership.

Dallas teacher Marilyn Rosa is one of them.

"He's being studied very closely," Cardinal Edward Egan of the Archdiocese of New York said of Pope Francis, added that wherever he goes, priests want to know how the Pope will change the Catholic Church and what the implications will be. Cardinal Edward Egan is interviewed by TODAY's Lester Holt.

"It was a sign," Rosa, 57, said of the Argentine Jesuit's election as pontiff last month. "It was like a miracle."

Born and raised Catholic, Rosa attended parochial schools and had a church wedding for her first marriage. Over the years, she drifted away from the religion that had been such an integral part of her Puerto Rican family's life.

She questioned the relevance of church policies in the modern world. As a divorced woman, she felt cast out. The pedophile-priest scandals disgusted her.

Three years ago, she quit going to Mass and joined an evangelical church. But she didn't feel at home and she started to wonder how she could fill the void.

"The day the pope got elected, I turned on the TV and when I learned he was Latin, I went crazy at home," said Rosa.

"When they started to talk about how he lived by himself and didn't move into the archbishop's residence, how he took the bus to work, I said, 'I know God is talking to me. This is the man we needed.'"

On Palm Sunday, she and her second husband "reverted," attending services at Dallas' St. Pius X Catholic Church.

"It was packed. I had to stand up the whole time. But I felt so happy. It was like a revival," she said.

Ron Feldman

Father Peter Mussett of St. Thomas Aquinas Catholic Center in Boulder, Colo., had five people tell him they were returning to the faith in a week because of Pope Francis.

Rosa has kept going to back to St. Pius, encouraged by what she's seen of the pope: from the simple white robe he wears to his rejection of the opulent papal apartment in favor of a spartan guest house.

"He's not letting himself be controlled by the rest of the church," Rosa said. "He's his own man."

Embrace of poor, emphasis on service
It's unknown how many others have joined Rosa around the country and globe and the vast majority of lapsed Catholics have not been enticed back. In the U.S., that's a huge pool of potential "new" members for an institution challenged by secularism and rival religions.

A 2009 report by the Pew Forum on Religion and Public Life estimated one in 10 adults in the U.S. was raised Catholic but has broken with the church. Its teachings on?abortion, homosexuality, birth control and treatment of women were often cited as reasons.

Pope Francis hasn't given any hint of radical change on those issues, but his man-of-the-people persona is appealing to some of the unfaithful.

Tom Peterson, president of Catholics Come Home, which airs ads aimed at the lapsed, said his website traffic tripled the day of the election, adding several thousand visitors. It's been double ever since.

Some interest could stem from the hubbub surrounding the selection of any pontiff, but Peterson thinks Francis' "love for the poor and his humility is exciting people to a great extent."

Father Peter Mussett, pastor of the St. Thomas Aquinas Catholic Center, which serves the University of Colorado at Boulder, agrees.

Marcos Brindicci / Reuters

Cardinal Jorge Bergoglio of Argentina was elected to lead the Catholic Church following the resignation of Pope Benedict XVI.?

"I had five people in a week who were saying, 'Pope Francis has inspired me to return to my faith,'" he said. "It's pretty remarkable."

Brian O'Neill, 48, an Irish-American cop from Washington State, went to Catholic elementary school and a Jesuit high school but hasn't practiced since graduating from a secular college. He says that could change soon.

The Vatican's stance on social issues, along with the gilded lifestyle of some higher-ups previously drove O'Neill away. Francis' embrace of the poor and his background as a service-minded Jesuit might bring the father of two back.

"I was shocked and amazed when he started doing those things -- you know, 'No Popemobile for me,'" said O'Neill, who wrote a column for his local newspaper about possibly returning to Catholicism.

He said that while Francis' views on church teachings might still be far from his own, his election heralds change.

"When the church says that's the guy we're going to put on St. Peter's throne, that says enough about where the church wants to go," O'Neill said. "Will I go back? I'm planning on it -- if I can find a good service."

'He's another retro pope'
Last weekend, when he was formally installed as bishop of Rome, the pope used the opportunity to appeal to defectors, urging them to come back to the fold.

The News Tribune (Tacoma)

Brian O'Neill, a cop and father of two from Washington state, is a lapsed Catholic who is considering returning to the church because of Pope Francis.

It will take more than an invitation for Kathy Budreski, though. The 70-year-old left Catholicism after the abuse scandal and has been attending a Unitarian church in Cape Cod.

She was heartened to see the cardinals pick a pope from South America, and loved seeing Francis hug a little boy with cerebral palsy after Easter Mass but says he's not a progressive.

"He has a big heart and he loves the poor people, but he's not going to do anything to change the stance of the church on birth control and gay rights," she said.

"I don't see him as a mover and shaker. He has some wonderful qualities but he's another retro pope."

/

Cardinals from around the world gathered in the Vatican to elect the next leader of the Roman Catholic Church.

Related:

Sex-abuse crisis: Experts draft to-do list for Pope Francis

'Peace to the whole world': Pope urges unity in?Easter Sunday address

Pope chooses simple residence over regal papal apartment

Full coverage of Pope Francis?from NBC News

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The Great Gatsby Trailer: Watch Now!

Source: http://www.thehollywoodgossip.com/2013/04/the-great-gatsby-trailer-watch-now/

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Tuesday, April 9, 2013

A Modular, Fully Customizable Wine Rack For Every Type of Drinker

Regardless of whether you're a sommelier-hopeful or just a dedicated lush, you're going to need a wine rack to match your distinct, personal tastes and—er, volume. This is exactly what makes the completely customizable and optionally mountable Nucleus wine rack from Thijs Goossink so fantastic. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/v3NJuqDPvyA/a-modular-fully-customizable-wine-rack-for-every-type-of-drinker

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