Selasa, 5 Februari 2013

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Sunway REIT to raise RM320m

Posted: 05 Feb 2013 06:32 PM PST

Malaysia's Sunway Real Estate Investment Trust (REIT), the country's largest REIT in asset size, said on Wednesday it will issue new units to raise RM320 million to repay debt tied to a recent acquisition.

Sunway REIT will issue 214.8 million new units at RM1.49 per unit for its acquisition of Sunway Medical Center, its first healthcare asset. The move comes after shares of the company were suspended for the past two days pending the announcement. Trading will resume at 1000 a.m. (0200 GMT) on Wednesday.

RHB Investment Bank, Credit Suisse (Singapore) Ltd, Credit Suisse (Securities) Malaysia Sdn Bhd, The Hongkong and Shanghai Banking Corp Ltd and Maybank Investment Bank Bhd were agents for the placement. -- Reuters

CIMB raises UMW target price

Posted: 05 Feb 2013 06:34 PM PST

CIMB Research raised its target price for UMW Holdings Bhd to RM14.45 from RM13.10 after the industrial-to-automotive company's oil and gas unit won a 140 million contract in East Malaysia.

The contract will add a maximum of 3 per cent to UMW's earnings, though a weakening US dollar and yen will have a larger positive effect, CIMB said in a report on Wednesday. The brokerage maintained an 'outperform' call on UMW.

UMW said in December it planned to sell up to RM2 billion in Islamic bonds to cut debt and fund working capital. Shares of UMW fell 0.16 per cent to RM12.16. The stock has gained nearly 25 per cent in the past six months, according to data from Thomson Reuters. -- Reuters

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Dell to go private in landmark $24.4 billion deal - Reuters

Posted: 05 Feb 2013 09:09 AM PST

Dell founder and CEO Michael Dell displays a Dell tablet computer during his keynote address at Oracle Open World in San Francisco, California in this September 22, 2010 file photograph. REUTERS/Robert Galbraith/Files

Dell founder and CEO Michael Dell displays a Dell tablet computer during his keynote address at Oracle Open World in San Francisco, California in this September 22, 2010 file photograph.

Credit: Reuters/Robert Galbraith/Files

Tue Feb 5, 2013 12:07pm EST

(Reuters) - Michael Dell will take Dell Inc private for $24.4 billion in the biggest leveraged buyout since the financial crisis, a deal that allows the billionaire chief executive officer to revive the fortunes of his computer company without Wall Street scrutiny.

The deal - announced on Tuesday and financed with cash and equity from Michael Dell, cash from private equity firm Silver Lake, and a $2 billion loan from Microsoft Corp - will end a rocky 24-year run on public markets for a company conceived in a college dorm room.

To many investors, Dell's decline in market share since its peak in the early 2000s symbolizes the rapidly dwindling prospects of the personal computer industry.

The world's No. 3 PC maker, which Michael Dell began in 1984 as a computer-sales outfit while he was still a 19-year-old pre-med student at the University of Texas, is now going through a painful transition from a pure PC maker to a one-stop provider of enterprise computing services. Sales of PCs still make up the majority of its revenue.

Analysts say the restructuring may entail job cuts and more costly acquisitions, as the company arms itself to do battle with larger and more established rivals like Hewlett-Packard Co and IBM Corp.

"We recognize this process will take more time," Chief Financial Officer Brian Gladden told Reuters. "We will have to make investments, and we will have to be patient to implement the strategy.

"And under a new private company structure, we will have time and flexibility to really pursue and realize the end-to-end solutions strategy."

Gladden said the company's strategy would "generally remain the same" after the deal closed, but "we won't have the scrutiny and limitations associated with operating as a public company."

Michael Dell and private equity firm Silver Lake are paying $13.65 per share in cash for the world's No. 3 computer maker. Michael Dell's MSD Capital investment firm will also provide cash financing for the deal. Bank of America Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets will offer debt financing.

Shares of Dell were up 0.8 percent at $13.38 in morning trading.

Dell, whose fairy-tale rise throughout the 1990s and the early part of the next decade once made it a Wall Street darling, has ceded market share in recent years to nimbler rivals such as Lenovo Group. That is in spite of Michael Dell's efforts in the five years since he retook the helm of the company following a brief hiatus during which its fortunes waned.

As of 2012's fourth quarter, Dell's share of the global PC market had slid to just above 10 percent from 12.5 percent a year earlier as its shipments dived 20 percent - the fastest quarterly pace of decline in years, according to research house IDC.

While analysts said Dell could be more nimble as a private company, it will still have to deal with the same difficult market conditions. International Business Machines Corp last decade underwent what is considered one of the most successful transformations of a hardware company, all while trading on public markets.

"This is an opportunity for Michael Dell to be a little more flexible managing the company," said FBN Securities analyst Shebly Seyrafi. "That doesn't take away from the fact they will have challenges in the PC market like they did before."

RECORD BUYOUT

The deal would be the biggest private equity-backed leverage buyout since Blackstone Group LP's takeout of the Hilton Hotels Group in July 2007 for more than $20 billion, and is the 11th-largest on record.

The parties expect the transaction to close before the end of Dell's 2014 second quarter, which ends in July.

News of the buyout talks first emerged on January 14, although they reportedly started in the latter part of 2012. Michael Dell had previously acknowledged thinking about going private as far back as 2010.

The $13.65-per-share price is a premium of about 24 percent to the average $11 price of Dell stock before news of the deal talks broke and is far below the $17.61 that the shares were trading for a year ago.

"The key question here is will shareholders approve this deal, because there is practically no premium where the stock is trading," Sterne Agee analyst Shaw Wu said.

J.P. Morgan and Evercore Partners were financial advisers, and Debevoise & Plimpton LLP was the legal adviser to the special committee of Dell's board. Goldman Sachs was financial adviser, and Hogan Lovells was legal adviser to Dell.

Wachtell, Lipton, Rosen & Katz was legal adviser to Michael Dell. BofA Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets were financial advisers to Silver Lake, and Simpson Thacher & Bartlett LLP was its legal adviser.

(Writing by Ben Berkowitz and Edwin Chan; Editing by Gerald E. McCormick and Lisa Von Ahn)

Obama calls on Congress to pass spending cuts, tax changes to delay sequester - Washington Post

Posted: 05 Feb 2013 08:38 AM PST

The official did not name any specific spending cuts or tax changes — which ultimately could include the closing of loopholes or deductions benefiting the wealthy or select industries — but said they should postpone the automatic spending reductions, known as the sequester, for a few months.

Obama will make a statement at 1:15 p.m at the White House. Any plan passed by Congress would have to reduce borrowing by tens of billions of dollars through a combination of alternative spending cuts or tax increases. It would be a stopgap measure with only weeks to go until the March 1 deadline for the onset of sequestration.

While Republicans, who have been warming to the idea of allowing the sequester to go forward, may agree to alternative spending cuts, the tax changes would likely be a flashpoint. Obama has made clear he expects wealthy Americans and select industries, such as finance and oil and gas, to pay more taxes toward deficit reduction.

Responding to the White House on Tuesday, House Speaker John Boehner (R-Ohio) reaffirmed House Republicans' opposition to tax increases.

"President Obama first proposed the sequester and insisted it become law. Republicans ... believe there is a better way to reduce the deficit, but Americans do not support sacrificing real spending cuts for more tax hikes," Boehner said in a statement. "The president's sequester should be replaced with spending cuts and reforms that will start us on the path to balancing the budget in 10 years."

The sequester was a mechanism that Congress and the White House designed in 2011 to force policymakers to generate significant deficit reduction over the next 10 years. While they have made progress on that front — accumulating over $2 trillion in deficit savings — they have not come to a broad agreement as many hoped.

The sequester would slice $1.2 trillion in domestic and defense spending over 10 years, indiscriminately cutting most programs. (Some programs, such as Medicaid and food stamps, are exempt.)

"While we need to deal with our deficits over the long term, we shouldn't have workers being laid off, kids kicked off Head Start, and food safety inspections cut while Congress completes the process," the White House official said.

"With our economy poised to continue to strengthen this year, the president will make clear that we can't see another self-inflicted wound from Washington," the official added. "The president will urge Congress to come together and act to ensure these devastating cuts to defense and job-creating programs don't take effect."

The "fiscal cliff" deal at the start of the year postponed the sequester for two months.

Obama favors a broader plan to permanently end the sequester and replace it with a series of reductions in health care and other mandatory spending as well as the elimination of tax breaks that benefit the wealthy and industries.

Republicans favor deep cuts to spending without raising taxes any more.

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Isnin, 4 Februari 2013

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Affin upgrades MAS to 'reduce'

Posted: 04 Feb 2013 06:23 PM PST

Affin Investment Bank upgraded Malaysian Airline System Bhd to 'reduce' from 'sell', saying the national carrier's tough operating environment and its financing risk have largely been reflected in its weak share price.

"Over the last three months, Malaysian Airline's share price has fallen by more than 30 per cent following the proposal of yet another capital raising exercise," Affin said in a research note on Tuesday.

Affin said it expects Malaysian Airline to post positive earnings before interests, tax, depreciation and amortisation in the fourth quarter of 2012, but that it will still be a red bottom line. It said, however, the loss could be narrower because of a "moderating operating statistic performance coupled with a flattish jet fuel price."

Affin kept its target price at 64 sen per share on the counter and did not change its earning forecast for Malaysian Airline.

The counter dropped 0.72 per cent to 69 sen per share, while the benchmark index rose 0.07 per cent. -- Reuters

HwangDBS raises DRB-Hicom

Posted: 04 Feb 2013 06:23 PM PST

HwangDBS Vickers Research has raised the target price for Malaysian automotive-to-insurance conglomerate DRB-Hicom Bhd to RM3.65 from RM3.35, citing the company's land bank.

"DRB has an under-appreciated property business with vast land bank. In total, it has 3,736 acres of land worth a total gross development value of RM20.6 billion (US$6.66 billion)," said the brokerage in a report on Tuesday.

HwangDBS expects the company's property segment to be the fastest-growing division, led by new launches in the next two years. It maintained a 'buy' call on the stock.

DRB, which has national courier Pos Malaysia and Services Holdings Bhd and Proton Holdings Bhd in its stable, remained unchanged at RM2.58 as of 0940am (0140GMT) while the benchmark index was down 0.04 per cent. -- Reuters

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England's King Richard III found after 500 years - Reuters

Posted: 04 Feb 2013 09:10 AM PST

The skeleton of Richard III is seen in a trench at the Grey Friars excavation site in Leicester, central England, in this picture provided by the University of Leicester and received in London on February 4, 2013. REUTERS/University of Leicester/Handout

LEICESTER, England | Mon Feb 4, 2013 11:03am EST

(Reuters) - A skeleton with a cleaved skull and a curved spine entombed under a car park is that of Richard III, archaeologists said on Monday, solving a 500-year-old mystery about the final resting place of the last English king to die in battle.

Cast by Shakespeare as a deformed tyrant who murdered two princes in the Tower of London, Richard was slain in a bid to keep his crown at the 1485 Battle of Bosworth Field, immortalised by the words: "A horse! A horse! My kingdom for a horse!"

In one of the most significant archaeological finds of recent English history, a team from the University of Leicester said evidence showed a skeleton found last year in excavations of a mediaeval friary under a city car park was that of Richard.

"It's the academic conclusion ... that beyond reasonable doubt the individual exhumed at Grey Friars in September 2012 is indeed Richard III, the last Plantagenet king of England," lead archaeologist Richard Buckley said.

The skeleton had 10 wounds, eight of which were to the head clearly inflicted on the battlefield. A photograph showed a sword had cleaved away part of the rear of the skull. A metal fragment was found between Richard's vertebrae.

After the battle, the victor, the future King Henry VII, had Richard's naked body exposed to the people of Leicester to show the battle was won, ending the bloody 30-year civil conflict known as The Wars of the Roses between the houses of York and Lancaster.

Other wounds were consistent with being caused after death when his body was taken from the battlefield to the nearby city of Leicester on the back of a horse. All of the wounds were from swords or daggers and it appeared his hands had been bound.

Confirmation the bones were Richard's hinged on DNA taken from the skeleton matching that of Michael Ibsen, a Canadian-born furniture maker in London who genealogists said was the direct descendant of Richard's sister, Anne of York.

Admirers of Richard hope that the discovery will fuel interest in the mediaeval monarch and dispel Shakespeare's physically impaired protagonist who said: "And therefore, since I cannot prove a lover ... I am determined to prove a villain."

CROOKED BONES REVEAL KING'S SECRET

The curvature of the spine, so ruthlessly mocked by Shakespeare and famously depicted by Laurence Olivier, was striking.

After a detailed presentation focusing on the life, wounds and physique of Richard, Buckley, announced his conclusion to world media amidst cheers and applause. The project almost ended prematurely, but funds from countries ranging from the United States and Germany to Australia and Belgium kept it afloat.

Richard, who died aged 32 after just two years on the throne, will be interred at Leicester Cathedral, which traces its history to a Saxon bishop in AD 680, in line with guidelines about burying bodies close to where they are exhumed.

The grey, concrete car park with its red-brick walls and a payment hut, under which the bones were found contrasts sharply with the grandeur of traditional sepulchres for English kings and queens at Windsor Castle and Westminster Abbey.

Asked whether the prime minister agrees with some Conservative MPs who said they believe the late king should receive a state burial, a spokesman for David Cameron said: "The decision on burial is a matter for Leicester University who hold the licence to exhume the remains."

The evidence ends the centuries-old mystery which has fascinated historians in Britain and around the world and which has provided material for a welter of legends, one of which maintained the body was dug up in the reign of Henry VIII, thrown in a river and the stone coffin used as a horse trough.

One of the most famous English kings, Richard's grave, which was lost after Henry VIII ordered the monasteries dissolved, had been as elusive as his reputation. Richard was cast by Shakespeare as a monster but supporters say he was enlightened and unfairly maligned by a victorious House of Tudor.

"INFAMOUS RICHARD"

There was also a DNA match with another unidentified descendant of Anne of York who wished to remain anonymous. The genetic match was especially significant as it was a rare type of DNA found in only a few percent of the population, said Turi King, a geneticist at the university.

"It's really difficult to come to grips with the fact that there is some part of you that is part of somebody as famous or infamous as Richard III," Ibsen said in an interview, adding that he was stunned to find his royal connection.

Unlike his mediaeval ancestor, Ibsen said he did not plan to put forward his family's claim to the throne: "I think our chances are long gone." Buckingham Palace declined comment on the importance of the discovery, which is expected to increase interest in Richard and bring more visitors to Leicester.

The remains of the king were put on display on a black velvet cloth encased in a glass box for the media and other guests in a small room with a worn red carpet that is part of the University of Leicester's library.

There was reverential silence as two security guards manned the door and a chaplain looked on. No photography was allowed as a mark of respect to the remains of the man who once ruled England.

While the findings may solve the mystery about the whereabouts of the grave of Richard, the last Plantagenet king of England remains a complex figure whose life, made famous by Shakespeare's history play, deeply divides opinion.

In a sign of the widespread public interest in Richard, photographs of his skull were published on the front pages of national newspapers in Britain on Monday and the academic briefing on the find was shown live on television news channels.

A tough soldier and popular in northern England, Richard was crowned at Westminster Abbey in July 1483 after replacing his 12-year-old nephew Edward V on the throne after claims that the young prince and his brother, the sons of Richard's elder brother Edward IV, were illegitimate.

The two boys later disappeared from the Tower of London, and their fate is one of the greatest unanswered historical questions. However, Richard has long been blamed for ordering, or even carrying out, the murder of the "Princes in the Tower".

SHAKESPEARE'S TYRANT RICHARD

Much of that is thanks to Shakespeare's "The Tragedy of King Richard the Third", which portrays him as a power-crazed, evil hunchback who killed off his rivals to get to the throne.

Richard has been played by a multitude of actors including Olivier, David Garrick and Kenneth Branagh. Lines from the play include "Now is the Winter of our discontent" as well as "Where Eagles Dare" which became a film title.

His supporters say Shakespeare's play is misleading, written as it was over a century later when Queen Elizabeth I, the granddaughter of Henry Tudor, who became Henry VII after his victory over Richard at Bosworth, was on the throne.

"People can see he's been done a massive injustice and I think it gets them angry and I think they want people to look at the facts about this man and change everything that we've ... been told about him," said Philippa Langley, of the Richard III Society which launched the four-year search for the lost king.

The level of international interest in the project was shown when the money nearly ran out and supporters from the United States, Canada, Australia, New Zealand, Brazil, Belgium, Germany, Austria, the Netherlands and Britain came forward to help.

Langley's mission is to re-write history.

"No disrespect to Olivier because he was a brilliant actor, but that portrayal of Richard III is going to be consigned to the dustbin of history. (He) was a mediaeval man and mediaeval king," said Langley, adding:

"He just wasn't the monster of Tudor legend."

And the answer to the burning question of whether Richard killed the princes in the Tower?

Langley, a pro-Richard devotee, was adamant. "The evidence that we have says he did not". (Writing by Guy Faulconbridge; Editing by Maria Golovnina and Peter Millership)

Baltimore Ravens Beat San Francisco 49ers in Historic, Unusual Super Bowl - ABC News

Posted: 04 Feb 2013 09:48 AM PST

The Baltimore Ravens emerged Super Bowl champions after one of the strangest and most incredible Super Bowl games in recent memory.

It's the second championship for the Ravens, who pulled out a 34-31 win over the San Francisco 49ers at the Superdome in New Orleans.

The Super Bowl is the biggest spectacle in American sports, and each year becomes the most watched television event in history. This year, Jennifer Hudson kicked things off with a touching performance of "America the Beautiful" with a choir of students from Sandy Hook Elementary School.

RELATED: Super Bowl XLVII: Top 6 Things to Know

Alicia Keys accompanied herself on the piano for a long, jazzy rendition of the national anthem, before the coin toss which resulted in San Francisco receiving to start the first half.

Although the game looked at one point like it was going to be a completely unexpected blow-out, with the Ravens leading 28-6 at the beginning of the 3rd quarter, the 49ers got some unusual help that turned the showdown into a much more exciting battle.

About a third of the way into the 3rd quarter, right after a record-tying Ravens rushing touchdown, the power went out at the Superdome, knocking the lights and air conditioning out in the indoor stadium. The crowd of more than 71,000 strong, along with a lot of antsy players, coaches, and staff waited for 34 minutes for the power to fully come back on and the game to resume.

In a statement, the NFL said authorities were "investigating the cause of the power outage," and law enforcement sources told ABC News it was just an issue with the building.

That didn't stop many people on Twitter from jokingly blaming Beyonce, the energetic halftime performer who surprisingly reunited shortly with her former band Destiny's Child, for shutting down the power. After her performance, even her husband Jay-Z got in on it, tweeting "Lights out!!! Any questions??"

VIDEO: Super Bowl 2013: Beyonce Rocks the Halftime Show

The 49ers quickly followed the long delay with a touchdown, getting themselves right back into the game. Then just a few minutes later, they found themselves in the end zone again, and it appeared the power outage had flipped the momentum towards the 49ers.

With a score of 31-29 with more than 7 minutes left in the game, San Francisco looked poised to make the biggest comeback in Super Bowl history, but the team, trying for its 6th title, wasn't able to overcome the Ravens lead.

Baltimore was able to run out the clock, and the game ended with a final score of 34-31. Purple and gold confetti fell as the Ravens rushed onto the field and celebrated -- with some colorful language from quarterback Joe Flacco audible on the live broadcast, who was caught saying, "f***ing awesome" on CBS' cameras.

The game was already historic thanks to the match-up for John and Jim Harbaugh, the first head coach brothers to ever face each other on football's biggest stage. It was also the final game for the future Hall of Fame linebacker Ray Lewis, who is, as of the conclusion of the game retired from football.

This is the fifth season in a row that the Ravens have made it to the playoffs, led by Coach John Harbaugh, and SB XLVII MVP Quarterback Joe Flacco. It's the team's first Lombardi trophy since 2000. Their victor tonight made them the only team left in the NFL to have never lost a Super Bowl in multiple appearances.

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Ahad, 3 Februari 2013

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Malaysia included in Qantas' Asian strategy

Posted: 03 Feb 2013 06:08 PM PST

MELBOURNE: Qantas, which recently sealed an alliance with Emirates, plans to expand its network within Asia, working with Malaysia Airlines and other partners.

Qantas on Monday outlined its new four-phase strategy for the Asian market with new destinations being considered including Beijing, Seoul, Mumbai, Delhi and Tokyo-Haneda.

Qantas also plans to provide more frequent flights to Singapore and Hong Kong, as well as, reschedule the departure time of those flights and increase capacity on those routes.

The airline said it hoped to expand its network within Asia by working with local partners such as Malaysia Airlines, Japan Airlines, China Eastern, Jet Airways and Cathay Pacific.

Qantas said the improvements to its Asian services would begin on March 31 and be rolled out in four phases.

Qantas International Chief Executive Simon Hickey said the changes meant Qantas' services to Asia were no longer tied to onward links to Europe.

"The number of dedicated seats on Qantas services to Hong Kong and Singapore is increasing significantly because capacity previously set aside for customers going to Europe via these hubs can be freed up.

"The joint Qantas-Emirates network into Asia gives our customers a fresh set of options, including double daily services to Singapore from Melbourne, Sydney and Brisbane," Hickey said in a statement.

From March 31, Qantas will increase capacity on flights to Hong Kong and Singapore by between 10 per cent and 40 per cent, respectively.

More flights would also be available on the Qantas-Emirates network.

Qantas will also schedule earlier arrival times into Hong Kong, Bangkok and Singapore, with flights brought forward by up to three hours to increase the number of onward connections.

Customers will also be able to fly to Kuala Lumpur on the combined Qantas-Emirates network.

However, Qantas will reduce services between Perth and Singapore to one a day.

It will also cancel its Adelaide-Singapore and Perth-Hong Kong services.

However, flights between Brisbane and Hong Kong will rise to seven a week from four, and daily services between Sydney and Singapore will start in June.

Qantas has also brought forward the end date for its loss-making Frankfurt services by six months to April 15.-- Bernama

MISC rises on Petronas buyout offer

Posted: 03 Feb 2013 06:30 PM PST

Shares of Malaysia's MISC Bhd rose as much as 17 per cent after the shipping firm's major shareholder Petroliam Nasional Bhd made an RM8.8 billion (US$2.8 billion) buyout offer, equal to RM5.30 per share.

As of 0102 GMT, MISC was 17.3 per cent higher at RM5.22 per share, outperforming the country's benchmark stock index's 0.54 per cent rise. Trading in MISC has been suspended since the offer was made last Thursday.

Petronas, Malaysia's state oil company, owns 62.7 per cent of the shipping firm. The deal is the latest in a slew of privatisation offers in Malaysia.

Tycoon tycoon Syed Mokhtar Al Bukhary in December offered to buy out commodities firm Tradewinds Bhd in a deal worth RM1.5 billion or RM9.30 per share.

Hong Leong Financial Group Bhd, a Malaysian lender controlled by the country's sixth-richest man Quek Leng Chan, in January offered to take its 79 percent-owned investment banking arm Hong Leong Capital Bhd private. -- Reuters
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'American Sniper' Author Shot and Killed in Texas - New York Times

Posted: 03 Feb 2013 09:01 AM PST

Since retiring from the Navy SEALS, Chris Kyle, who was known as America's deadliest sniper, would occasionally take fellow veterans shooting as a kind of therapy to salve battlefield scars.

Mr. Kyle, author of the best selling book "American Sniper: The Autobiography of the Most Lethal Sniper in U.S. Military History," was with a struggling former soldier on just such an outing on Saturday, hoping a day at a shooting range would bring some relief, said a friend, Travis Cox.

But Texas authorities said Sunday that for unknown reasons, the man turned on Mr. Kyle and a second man, Chad Littlefield, shooting and killing both before fleeing.  

"Chad and Chris had taken a veteran out to shoot to try to help him," Mr. Cox said. "And they were killed."

On Sunday, the police identified the shooter as Eddie Ray Routh, a 25-year-old veteran with a history of mental illness who had served in both Iraq and Afghanistan. The police offered no information about a possible motive.

Mr. Routh shot the men at about 3:30 p.m. on Saturday, at the Rough Creek Lodge, an exclusive shooting range near Glen Rose, about 50 miles southwest of Fort Worth, Sgt. Lonny Haschel, a spokesman for the state Department of Public Safety's Highway Patrol Division, said in a statement. Mr. Routh then fled in a pickup truck and was arrested on Saturday night at his home in Lancaster, a southern Dallas suburb. He has been charged with two counts of capital murder, Mr. Haschel said.

Mr. Cox, the director of a foundation that Mr. Kyle created, said he was not acquainted with Mr. Routh, but said that Mr. Kyle had devoted his life since his military retirement to helping fellow soldiers overcome post-traumatic stress.

In 2011, Mr. Kyle created the FITCO Cares Foundation, to provide veterans with exercise equipment and counseling. He believed that exercise coupled with the camaraderie of fellow veterans could help former soldiers ease back into civilian life.  

"He served this country with extreme honor, but came home and was a servant leader in helping his brothers and sisters dealing with post-traumatic stress disorder," Mr. Cox, also a former military sniper, said by telephone.

Mr. Kyle, who lived outside of Dallas, had his own difficulties adjusting after retiring from the SEALS in 2009. He was deployed in Iraq during the worst years of the insurgency, perched in or on top of bombed out apartment buildings with his .300 Winchester Magnum.

He became proficient at his job, racking up more than 150 kills and becoming the scourge of Iraqi insurgents, who put a price on his head and reportedly nicknamed him the "Devil of Ramadi."

He preferred to think of his job not as killing bad guys, but saving the good.

"I feel pretty good because I am not just killing someone, I am also saving people," he said in a Jan. 2012 interview with The Dallas Morning News. "What keeps me up at night is not the people that I have killed. It is the people I wasn't able to save."

Mr. Kyle was sued by the former governor of Minnesota, Jesse Ventura, over a portion of the book that claims Mr. Kyle punched Mr. Ventura in a 2006 bar fight over unpatriotic remarks. Mr. Ventura says the punch never happened and that the claim by Kyle defamed him.

Mr. Kyle had asked that Ventura's claims of invasion of privacy and "unjust enrichment" be dismissed, saying there was no legal basis for them. But a federal judge said the lawsuit should proceed. Both sides were told to be ready for trial by Aug. 1.

Manny Fernandez contributed reporting.

Details emerge about man at center of Ala standoff - Seattle Post Intelligencer

Posted: 03 Feb 2013 08:50 AM PST

MIDLAND CITY, Ala. (AP) — As an Alabama standoff and hostage drama entered a sixth day Sunday, more details emerged about the suspect at the center, with neighbors and officials painting a picture of an isolated man with few friends and no close family.

Authorities say Jim Lee Dykes, 65 — a decorated veteran of the Vietnam War known as Jimmy to neighbors — gunned down a school bus driver and then abducted a 5-year-old boy from the bus, taking him to an underground bunker on his rural property. The driver, 66-year-old Charles Albert Poland Jr., was to be buried Sunday.

Dykes, described as a loner who railed against the government, lives up a dirt road outside this tiny hamlet north of Dothan in the southeast corner of the state. His home is just off the main road north to the state capital of Montgomery, about 80 miles away.

The FBI said in a statement Sunday that authorities continue to have an open line of communication with Dykes and that they planned to deliver to the bunker additional comfort items such as food, toys and medicine. They also said Dykes was making the child as comfortable as possible.

Government records and interviews with neighbors indicate that Dykes grew up in the Dothan area and joined the Navy in Midland City, serving on active duty from 1964 to 1969. His record shows several awards, including the Vietnam Service Medal and the Good Conduct Medal. During his service, Dykes was trained in aviation maintenance.

Later, Dykes lived in Florida, where he worked as a surveyor and a long-haul truck driver although it's unclear how long.

He had some scrapes with the law there, including a 1995 arrest for improper exhibition of a weapon. The misdemeanor was dismissed. He also was arrested for marijuana possession in 2000.

He returned to Alabama about two years ago, moving onto the rural tract about 100 yards from his nearest neighbors, Michael Creel and his father, Greg.

Neighbors described Dykes as a man who once beat a dog to death with a lead pipe, threatened to shoot children for setting foot on his property, and patrolled his yard at night with a flashlight and a firearm. Michael Creel said Dykes had an adult daughter, but the two lost touch years ago.

The Dykes property has a white trailer which, according to Creel, Dykes said he bought from FEMA after it was used to house evacuees from Hurricane Katrina. The property also has a steel shipping container — like those on container ships — in which Dykes stores tools and supplies.

Next to the container is the underground bunker where authorities say Dykes is holed up with the 5-year-old. Neighbors say that the bunker has a pipe so Dykes could hear people coming near his driveway. Authorities have been using the ventilation pipe to communicate with him.

The younger Creel, who said he helped Dykes with supplies to build the bunker and has been in it twice, said Dykes wanted protection from hurricanes.

"He said he lived in Florida and had hurricanes hit. He wanted someplace he could go down in and be safe," Creel said. Authorities say the bunker is about 6 feet by 8 feet, and the only entrance is a trap door at the top.

Such bunkers are not uncommon in rural Alabama because of the threat of tornadoes.

Greg Creel was a friend of Dykes, but he said he would not comment for The Associated Press. "I will only talk to the police and the FBI," he said.

Michael Creel said Dykes kept to himself and listened a lot to conservative talk radio.

"He was very into what's going on with the nation and the politics and all the laws being made. The things he didn't agree with, he would ventilate," he said.

James Arrington, police chief of the neighboring town of Pinckard, put it differently.

"He's against the government, starting with Obama on down," he said.

Morris Dees of Southern Poverty Law Center in Montgomery, a group that tracks hate crimes, said Dykes was not on the group's radar.

Although the fatal shootings in December at a school in Newtown, Conn., are still on everyone's mind, Dees said he doesn't think Dykes was trying to be a copycat.

"Probably not. He had a whole bus load full of kids, and he could have walked up there and shot the whole crowd of them," he said.

"I think he's just a really angry and bitter guy with some anger management issues," Dees said. "He is just against everything - the government and his neighbors."

______

Bruce Smith contributed to this report from Midland City, Ala.

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President Claims Shooting as a Hobby, and the White House Offers Proof - New York Times

Posted: 02 Feb 2013 09:09 AM PST

WASHINGTON — When President Obama mentioned last week that he had picked up a new hobby — skeet shooting at Camp David — it was a surprising disclosure by a president whose main identification with guns these days is his effort to ban assault rifles and high-capacity magazines.

To some, Mr. Obama's newfound enthusiasm for shooting clay pigeons — he said in an interview that he did it "all the time" at his retreat in the Maryland mountains — also seemed a bit suspicious.

So on Saturday, the White House tried to silence the skeptics by releasing a photo of Mr. Obama shooting on the range at Camp David in August. In the photo, the president, wearing protective glasses and ear-muffs, is squinting down the barrel of a gun, moments after pulling the trigger. Smoke shoots out of the front of the gun.

The White House said the photo was taken on Aug. 4, which was Mr. Obama's 51st birthday. But it offered no further details on whether his target practice was a regular hobby or a one-time event.

The notion of the president taking aim at targets flung into the air captivated some in the political and social media worlds at a time when he is pushing Congress to enact sweeping restrictions on high-capacity rifles and magazines. Conservatives scoffed, comics mocked, a congresswoman challenged him to a skeet-shooting contest, a fake picture of an armed Mr. Obama circulated on the Internet, and the White House tried to make the whole matter go away.

"It was a surprise to a lot of people in the industry when we saw that and heard that," said Michael Hampton Jr., the executive director of the National Skeet Shooting Association, whose 35,000-member rolls do not include the president.

Mr. Obama is hardly the first politician to draw scorn for boasting of experience with guns. In 2007, during his first presidential campaign, former Gov. Mitt Romney of Massachusetts was ridiculed when he said, "I've always been a rodent and rabbit hunter — small varmints, if you will." In 2004, John Kerry, then a presidential candidate and now secretary of state, was lampooned for showing up in camouflage to go hunting less than two weeks before the election.

The latest commotion has its origins in the interview Mr. Obama gave to The New Republic, now owned by Chris Hughes, a Facebook co-founder and former Obama campaign aide. During the interview, Franklin Foer, the magazine's editor, referred to the fight over gun control and asked the president if he had ever fired a gun.

"Yes, in fact, up at Camp David, we do skeet shooting all the time," Mr. Obama said.

"The whole family?" Mr. Foer asked.

"Not the girls," he said, "but oftentimes guests of mine go up there. And I have a profound respect for the traditions of hunting that trace back in this country for generations. And I think those who dismiss that out of hand make a big mistake."

Mr. Obama went on to say that the reality of guns in urban areas differs from that in rural areas. "So it's trying to bridge those gaps that I think is going to be part of the biggest task over the next several months," he said. "And that means that advocates of gun control have to do a little more listening than they do sometimes."

The skeet-shooting comment caught many off guard because it is not something the president has talked about. While other presidents have used the skeet shooting range at Camp David, database searches of Mr. Obama's speeches and interviews turned up no prior mention of participating. No friend or guest has come forward in recent days to publicly describe shooting with the president.

"I would refer you simply to his comments," Jay Carney, the White House press secretary, told reporters who asked after the interview was published how often the president shoots. "I don't know how often. He does go to Camp David with some regularity, but I'm not sure how often he's done that."

Asked why no one had seen a picture or heard about it before, Mr. Carney said, "Because when he goes to Camp David, he goes to spend time with his family and friends and relax, not to produce photographs."

That did not satisfy the skeptics. The Washington Post's "Fact Checker" column cast doubt on the claim, while Fox News quoted an unnamed person saying Mr. Obama had participated once during a Marine competition at Camp David but not "all the time." Representative Marsha Blackburn, Republican of Tennessee, went on CNN to question the assertion.

"I tell you what I do think," Ms. Blackburn said. "I think he should invite me to Camp David, and I'll go skeet shooting with him and I bet I'll beat him."

Gun rights supporters said the president was evidently trying to reach out to gun owners to assuage their concerns about his legislative proposals.

"He clearly doesn't get it," said Chris Cox, the chief lobbyist for the National Rifle Association. "But in his effort to pursue a political agenda, he apparently is willing to convince gun owners that he's one of us, that he's a Second Amendment supporter."

Mr. Cox said no one was fooled. "Skeet shooting, whether you've done it or not, doesn't make you a defender of the Second Amendment," he said.

While White House officials privately dismissed skeptics by comparing them to "truthers" who doubted that Mr. Obama was born in Hawaii, even some liberals found the skeet-shooting comment hard to believe.

Jon Stewart of "The Daily Show" made fun of Mr. Obama's statement as well as those who doubted it. He essentially agreed with Mr. Cox that it was pointless for the president to try to reach out to gun rights supporters who do not believe him.

"The point is, Mr. President, what are you doing? Why try?" Mr. Stewart asked. "As far as most of your opponents go, no measure of detente, true or disingenuous, will ingratiate you to your opponents. It's a fool's errand."

Marxist Group Claims Attack on US Embassy in Turkey - New York Times

Posted: 02 Feb 2013 09:18 AM PST

ISTANBUL — In a statement that called the United States "the murderer of the peoples of the world," a Marxist group, with a history of political violence in Turkey, claimed responsibility for a suicide bombing at the American Embassy in Ankara.

The statement, which also denounced American foreign policy, was reportedly released by the Revolutionary People's Liberation Party, and a translation was distributed by the Site Intelligence Group, which monitors the communications of extremist groups. The message, which was released on a Web site that has previously carried statements from the group, condemned Turkey's policy of supporting Syria's rebels against the government of Bashar al-Assad.

The statement included details that were similar to those released so far by the Turkish authorities, although the group's message had a different first name for the bomber than the one given by Turkish officials and reported in the local news media.

The Turkish authorities said Saturday that the man who detonated himself at the American Embassy in Ankara on Friday, killing himself and one other, was a convicted terrorist who had twice attacked government facilities in Istanbul but was released from prison in 2002 under an amnesty program.

Officials in Ankara said Saturday they were awaiting the results of a DNA test before releasing the bomber's name, but officials in the Black Sea coastal town of Ordu identified him as Ecevit Sanli, 40, and said he was a registered citizen of their town. Authorities in Ordu said the bomber was identified by relatives through photographs.

The statement by the militant group included two photographs of the bomber (in one, he is holding an assault rifle, and a banner bearing the hammer-and-sickle communist symbol is behind him) that appeared to be the same person seen in photographs published by the news media. The group identified the bomber with the first name "Alisan."

The attack, coming in the wake of the assault on an American diplomatic facility in Benghazi, Libya, by Islamic extremists, raised fears that it was the work of jihadists. That the bomber appears to have ties to a relatively minor Marxist group, which was responsible for political violence in the 1970s, is likely to challenge assumptions about the nature of international terrorism and the risks to American interests abroad. American officials, however, have not confirmed the identity of the attacker, nor a motive, and the United States plans to conduct an investigation.

The statement from officials in Ordu said on Saturday that Mr. Sanli spent five years in prison after being arrested in 1997 for attacking a military hostel and police station in Istanbul. He was then released in 2002 under an amnesty program for inmates with medical conditions, the statement said.

The authorities said Mr. Sanli lobbed a hand grenade during Friday's attack just before detonating himself, suggesting there were actually two explosions.

As the investigation continues, the authorities are trying to determine whether Mr. Sanli had any collaborators. The Turkish newspaper Hurriyet reported that Mr. Sanli had fled to Germany after being released from prison, and had returned to Turkey only a few days before the attack.

The group has struck American and western targets in Turkey before, including during the gulf war in the early 1990s, and in its statement Saturday, the group condemned the recent deployment by NATO of Patriot missile batteries in southern Turkey.

In a report published several days before the bombing, Soner Cagaptay, director of the Turkish research program at the Washington Institute for Near East Policy, warned that Turkey's support of Syrian rebels in their fight against the government of Mr. al-Assad, as well as the deployment by NATO of Patriot missile batteries, was rallying Turkey's extreme left.

"The country's political landscape still bears vestiges of violent leftist movements from the 1970s, as well as deeply anti-American ultranationalism," he wrote. Mr. Cagaptay noted that some militant left-wing groups organized protests against the Patriot missile deployment in the southern port city of Iskenderun, where protesters have fired smoke grenades at NATO troops and burned American flags.

Sebnem Arsu contributed reporting.

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