Selasa, 26 Februari 2013

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KL shares open higher in early trade

Posted: 26 Feb 2013 06:14 PM PST

Share prices on Bursa Malaysia were slightly higher in early trade today, tracking overnight gains on Wall Street, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.66 points higher at 1,625.84, after 50 minutes of trading.

Wall Street's key equity indices were up between 0.4 per cent and 0.8 per cent at the closing bell.

"Sentiment was torn between better housing data in the US and renewed worries on the sovereign debt crisis in Europe," HwangDBS Vickers Research said.

On the home front, the Finance Index rose 34.5 points to 15,046.61 and the Plantation Index fell 22.22 points to 7,861.95, while the Industrial Index increased 0.32 of a point to 2,782.45.

The FBM Emas Index added 15.91 points to 11,056.8, the FBMT100 rose 14.851 points to 10,910.07, the FBM Ace Index increased 6.05 points to 3,950.67 and the FBM Mid 70 Index was 33.351 points higher at 12,043.37.

Gainers led losers by 158 to 147, with 181 counters unchanged, 1,180 untraded and 53 others suspended.

Total volume stood at 172.38 million shares worth RM122.35 million.

For the actives, The Media Shoppe was flat at six sen, Patimas fell half sen to 4.5 sen and Pan Malaysia Capital declined two sen to 4.5 sen.

Among heavyweights, Maybank gained one sen to RM9.15, Sime Darby was flat at RM9.17 and Axiata rose one sen to RM6.34.-- Bernama

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More spin than solutions as spending cuts near - CNN

Posted: 26 Feb 2013 08:37 AM PST

STORY HIGHLIGHTS
  • President Obama heads to military country to warn of spending cut impacts
  • Military leaders say readiness will be compromised if the cuts take full effect
  • Republicans seek to blame Obama and Democrats for the situation
  • The two sides remain divided over taxes as part of the solution

Washington (CNN) -- Three days before forced spending cuts portrayed by most as an economic body blow, President Barack Obama and Republican rivals relied on spin versus substance Tuesday in trying to prod a deeply divided Congress into action to avert the harshest impacts.

Obama headed to military country in Virginia, where local residents will bear the brunt of mandatory cuts to defense spending, for a campaign-style event intended to highlight the negative situation.

Republicans criticized Obama for what some called scare tactics, but also said the spending cuts would be bad policy and should be changed. Only rigid fiscal conservatives backed the concept of mandatory deep spending cuts as a painful first step of necessary deficit reduction.

Meanwhile, government officials and military leaders continued warning of serious consequences if Congress fails to agree on an alternative to the mandatory $85 billion in cuts for the rest of fiscal year 2013, which ends on September 30.

Federal Reserve Chairman Ben Bernanke said Tuesday the automatic cuts will slow the already sluggish U.S. economy, harming the still-moderate recovery from recession.

However, conflicting messages in the increasingly heated debate raised confusion about exactly what will happen if the spending cuts go into effect as scheduled on Friday.

Talk Back: Who do you believe when it comes to forced budget cuts?

At a House subcommittee hearing on Tuesday, the heads of the nation's military services warned of serious problems if the full effect of cuts are allowed to happen.

Gen. Ray Odierno, the Army chief of staff, said the pending cuts would hollow out the military and were "not in the best interest of our national security."

In particular, he said reduced spending for this year would reduce training, diminish the special operations command and result in layoffs and furloughs of civilian staff that will delay medical care for soldiers and their families.

Rep. Harold Rogers of Kentucky, the GOP chairman of the House Appropriations Committee, told the panel that the spending cuts known in Washington jargon as sequestration were "both terrible politics and terrible policy."

In particular, he warned the cuts to defense spending would impair the nation's overall military readiness.

That contrasted with conservative Sen. John Cornyn, R-Texas, who said Monday that the cuts won't be as harmful as the Obama administration warns.

The veteran senator conceded that he initially agreed with dire predictions from the administration and top Republicans of major harm to the nation's military. After looking into the situation, Cornyn said he now argues that the Pentagon will still see its budget go up despite the forced cuts.

Senate Republicans are considering a proposal this week that could alleviate some impacts of the cuts by giving the president flexibility to decide where they would occur.

The proposal is the GOP counter to a Democratic plan to replace the sequester cuts with more tax revenue collected from millionaires, as well as eliminating agriculture subsidies and reducing defense spending after the end of combat operations in Afghanistan next year.

House Speaker John Boehner expressed continuing frustration over what he called a lack of leadership by Obama and Senate Democrats.

Opinion: If spending is cut, GOP will get the blame

The House has twice passed bills that would replace the mandatory cuts of sequestration with other reductions that avoid harming the military, a concept rejected by Democrats as shifting the impact of deficit reduction to the middle class and needy Americans.

"We should not have to move a third bill before the Senate gets off their ass and begins to do something," Boehner told reporters on Tuesday.

In response, House Democratic leader Nancy Pelosi of California said bills passed last year by the previous Congress no longer matter, and that the Constitution requires legislation involving appropriations and revenue to originate in the House.

"There's not much that is being accomplished by what they are doing," Pelosi said of House GOP leaders, calling their refusal to act on the matter "irresponsible" and "mindless."

The forced cuts were written into law in 2011 to be intentionally indiscriminate so that legislators would compromise on an alternative instead of allowing them to take effect.

However, election year politics in 2012 prevented an agreement, and the continuing partisan divide over how to reduce or at least control chronic federal deficits and debt caused the widely opposed spending cuts to become imminent.

Top Senate Republican doubts damage from defense cuts

The law does not allow the Pentagon or government agencies to shift money to protect some programs or operations from the spending cuts.

While Republicans are divided over how much flexibility Obama should get to avoid the worst impacts of the cuts, they appear unified in opposing any increase in tax revenue to partially offset them.

A January agreement that raised tax rates on top income earners while putting off the forced cuts for two months provided all tax revenue Republicans were willing to consider, party leaders say.

"We can either secure these reductions more intelligently or we can do it the president's way with across the board cuts," Senate GOP leader Mitch McConnell said Tuesday. "But one thing Americans simply will not accept is another tax increase to replace spending reductions we already agreed to."

His Democratic counterpart, Senate Majority Leader Harry Reid, blamed Republican intransigence for the impact.

"My Republican colleagues are standing in the way of a solution," he said. "They only want cuts and more cuts. They are willing to sacrifice three quarters of a million American jobs rather than ask multi-millionaires to pay a penny more."

The full impact of the cuts won't be felt for at least a month, until after a March 27 deadline for Congress to agree on extending funding for the government for the rest of the fiscal year.

An agreement on the overall government funding could soften or eliminate the cuts and much of the hyperbole this week involved posturing for the broader debate of coming weeks.

Where you'll feel forced spending cuts

CNN's Dana Bash, Alan Silverleib, Ted Barrett, Kevin Liptak and Ashleigh Killough contributed to this report.

DHS releasing illegal immigrants before sequestration - Politico

Posted: 26 Feb 2013 09:34 AM PST

WASHINGTON  — The Department of Homeland Security is releasing some illegal immigrants being held in immigration jails in advance of automatic budget cuts set to go into effect later this week.

A spokeswoman for U.S. Immigration and Customs Enforcement, Gillian Christensen, says the immigrants were being held around the country and being released and "placed on an appropriate, more cost-effective form of supervised release." She did not say how many immigrants were released or how they were selected.

Congress requires that ICE maintain 34,000 immigration detention beds. DHS Secretary Janet Napolitano warned Monday that the mandatory cuts would impact the entire department, and specifically mentioned the cost of maintaining jail beds.

Christensen said the deportation cases against the released immigrants would continue.
 

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Isnin, 25 Februari 2013

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Exim Bank plans to sell US$1b sukuk

Posted: 25 Feb 2013 05:30 PM PST

Export-Import Bank of Malaysia Bhd (Exim Bank) plans to sell a debut Islamic bond in the global market, the second by an Asian company in 2013 after a two-year absence.

The state-owned trade finance provider invited proposals from banks to arrange US$1 billion of dollar-denominated debt for a possible second-quarter offering, said three people familiar with the deal.

The lender aims to increase the proportion of Shariah loans to 30 per cent of the total in two years from 20 per cent now, Chief Executive Officer Adissadikin Ali said in an interview yesterday in Kuala Lumpur, declining to comment on the potential issuance.

Exim Bank will become only the fourth Asian corporate to ever tap dollar sukuk investors after Malaysia's Sime Darby Bhd, the world's biggest palm-oil producer, sold US$800 million of notes in January. The government's US currency Islamic bonds maturing in 2021 yield 2.92 per cent, compared with 3.55 per cent for similar ringgit debt.

"More Asian companies will tap the dollar sukuk market given the pace of regional growth and overseas expansion," Mohamed Azahari Kamil, the Kuala Lumpur-based chief executive officer of Asian Finance Bank Bhd, the Malaysian unit of Qatar Islamic Bank SAQ, said in an interview yesterday. "Islamic borrowing costs for well-rated corporates are cheap."

A sale would be the Kuala Lumpur-based institution's second foray into the international debt arena. It sold US$500 million of five-year notes that don't comply with the Quran's ban on interest in May at a coupon rate of 2.875 per cent. Those securities are rated A3 by Moody's Investors Service and A- by Fitch Ratings, the fourth-lowest investment grades and the same ranking as the sovereign.

The 2.875 per cent bonds due in 2017 yielded 1.91 per cent yesterday, down 11 basis points, or 0.11 percentage point, from the end of last year, data compiled by Bloomberg show. The Bloomberg Malaysian Sukuk Ex-MYR Index of foreign-currency Islamic debt listed in the Southeast Asian nation rose 0.1 per cent last week to 111.682 and is little changed in 2013.

Exim Bank started offering Shariah-compliant loans in 2009 and plans to increase total lending by 30 per cent in 2013 under a five-year initiative introduced in 2011, Adissadikin said. The company is getting enquiries from Malaysian companies operating overseas that are looking to expand, he said.

"Since we aren't a deposit-taking bank, we need to consider sukuk to raise funds," Adissadikin said. "This option will allow us to pass on the benefits of lower borrowing costs to our customers so they can be competitive."-- Bloomberg

US stocks close sharply lower

Posted: 25 Feb 2013 03:24 PM PST

NEW YORK: US stocks closed sharply lower Monday amid concerns that Silvio Berlusconi's strong showing in the Italian election could force a coalition government and spark fresh instability in the eurozone.

The Dow Jones Industrial Average fell 216.40 points (1.55 percent) to 13,784.17, the index's biggest single-day drop since November.

The broad-based S&P 500 lost 27.75 (1.83 percent) to 1,487.85, while the tech-rich Nasdaq Composite Index sank 45.57 (1.44 percent) to 3,116.25.

Equity markets rose early as the Italian election appeared heading for a center-left victory.

But as the hours passed, a tight contest for control of the Italian Senate raised the possibility of a coalition including former premier Berlusconi.

Financial markets fear that his return to power could endanger Italy's recent fiscal reforms and revive doubts about the euro zone.

"There was a surprise over the Italian election," said Mace Blicksilver of Marblehood Asset Management.

Some analysts also expressed concerns about the effect of US budget cuts that could take effect Friday if an agreement in Washington is not reached.

Among the biggest losers were Bank of America (-3.7 percent), Home Depot (-2.6 percent) and General Electric (-2.5 percent).

Home improvement retailer Lowe's sank 4.8 percent despite reporting earnings that bested analyst expectations.

Natural gas giant Chesapeake Energy fell 6.8 percent after it announced it was selling a stake in some natural gas properties to Chinese company Sinopec for $1.0 billion.

US shares of British oil giant BP dropped 3.4 percent as a much-watched trial began Monday in New Orleans over the 2010 Gulf of Mexico oil spill.

Barnes & Noble surged 11.5 percent after the company's founder and largest shareholder, Leonard Riggio, announced that he was interested in buying the company's retail assets. -- AFP

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Obama warns governors about sequester - USA TODAY

Posted: 25 Feb 2013 08:53 AM PST

President Obama sought to recruit the nation's governors Monday in his sequestration battle with Congress, telling them that $85 billion in automatic budget cuts will cripple economic progress in their states.

Set to start Friday, the sequestration cuts will lead to fewer teachers, reduced medical care, and idle defense workers in all 50 states, Obama told members of the National Governors Association at the White House.

"The longer those cuts are in place, the bigger their impact will be," Obama said.

The president urged the state executives -- particularly the Republicans -- to lobby members of Congress to avoid the sequestration with a new deal to help reduce the national debt of more than $16 trillion.

Obama wants a debt reduction deal that includes both budget cuts and higher taxes on the wealthy, in the form or closing loopholes and deductions.

Republicans oppose any tax increase, saying Obama got higher tax rates on the wealthy as part of last month's "fiscal cliff" deal.

Beyond the sequester, Obama told the governors he wants to be their "partner" on two major legislative items, infrastructure and education.

Repairing and expanding the nation's system of roads, bridges, tunnels, railways and airports should be a bi-partisan endeavor, Obama said.

As for education, Obama said he wants states to help him achieve his goal of preschool for all of America's children.

Top British Cardinal Resigns After Accusations of 'Inappropriate Acts' - New York Times

Posted: 25 Feb 2013 08:37 AM PST

VATICAN CITY — Britain's most senior Roman Catholic cleric announced his resignation on Monday, a day after being accused of "inappropriate acts" with priests, saying he would not attend the conclave to elect a new pope.

The cleric, Cardinal Keith O'Brien, said that he had submitted his resignation months ago, and the Vatican said Pope Benedict XVI had accepted it on Feb. 18. However, the timing of the announcement — a day after news reports of alleged abuse appeared in Britain —suggested that the Vatican had encouraged the cardinal to stay away from the conclave.

The move is bound to raise questions about other cardinals. It comes amid a campaign by some critics to urge Cardinal Roger Mahony of Los Angeles not to attend the conclave because of his role in moving priests accused of abuse.

It also comes just days after the Vatican Secretariat of State issued a harsh statement against recent media reports —including ones alleging a gay sex scandal inside the Vatican —that cardinals should not be conditioned by external pressures, including from the media, when they vote for the next pope. There are expected to be some 115 cardinals at the gathering.

Vatican watchers said that Cardinal O'Brien's decision not to attend the conclave was rare.

"It's quite unprecedented," said Sandro Magister, a Vatican expert with the Italian weekly L'Espresso. "He made it clear that his resignation came under the pressure of the accusations. His certainly isn't a frequent case and hasn't happened in conclaves in recent memory."

Cardinal O'Brien's announcement came a day after The Observer newspaper reported that four men had made complaints to the pope's diplomatic representative in Britain, Antonio Mennini, that reached him the week before Pope Benedict XVI announced Feb. 11 that he would be stepping down as of Feb. 28.

The Observer said that the accusations, which dated back to the 1980s, had been forwarded to theVatican.

Last week, Cardinal O'Brien drew different headlines, telling the BCC that the next pope should consider abandoning the church's insistence on priestly celibacy, and suggested that it might be time for the papal conclave to choose a new pontiff from Africa or Asia, where church membership has been growing even as it has fallen across Europe and North America.

On Monday, the Vatican spokesman, the Rev. Federico Lombardi, downplayed the connection between the media reports and Cardinal O'Brien's resignation, which the pope accepted under a norm of church law that says he had reached the normal retirement age of 75.

A statement issued by the media office of the Roman Catholic Church in Scotland said Cardinal O'Brien had informed the pope some time ago of his intention to resign as archbishop of St. Andrews and Edinburgh as his 75th birthday approached on March 17 but that no date had been set.

The cardinal said in the statement: "The Holy Father has now decided that my resignation will take effect today, 25 February 2013."

"Looking back over my years of ministry: For any good I have been able to do, I thank God," he said. "For any failures, I apologize to all whom I have offended."

"I also ask God's blessing on my brother cardinals who will soon gather in Rome," the statement said, adding, "I will not join them for this conclave in person. I do not wish media attention in Rome to be focused on me — but rather on Pope Benedict XVI and on his successor."

Cardinal O'Brien, whose office had initially said he would fly to Rome before the conclave, has been the head of the Catholic Church in Scotland since 1985, and was named a cardinal by Pope John Paul II in 2003. He was among the cardinals who attended the conclave that chose Benedict as John Paul's successor in 2005.

The main role of a cardinal is to elect a new pope and they remain eligible to vote under any circumstances, even if they have been excommunicated, Bishop Juan Ignacio Arrieta, the secretary for the Pontifical Council for Legislative Texts, said last week.

Ambrogio Piazzoni, a papal historian, told reporters last week that he could think of no examples of cardinals who refrained from voting for anything other than health reasons — or from the pressures of different governments in past years.

On Monday, Benedict changed the laws governing the conclave to allow cardinals to decide to move up the start date before the traditional 15-20 day waiting period after the papacy is vacant. He also met with three cardinals who had conducted a secret investigation into a scandal of leaked documents and ruled that the contents of their report would be known only to his successor — not to the cardinals entering the conclave.

Alan Cowell contributed reporting from London.

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Ahad, 24 Februari 2013

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JHM buys land in Sg Petani for RM2.97m

Posted: 24 Feb 2013 05:48 PM PST

JHM Consolidated Bhd is buying industrial land in Sungai Petani, Kedah for RM2.97 million to build a precision metal stamping factory.

This deal works out to be RM15 per sq ft.

In its filing to the stock exchange on Friday, JHM said the land is owned by Perbadanan Kemajuan Negeri Kedah and leased to Oxford Prestige Sdn Bhd (OPSB) until 4 March 2050.

This Agreement is conditional upon OPSB obtaining the written consent from PKNK for the sale of the land.

So far, JHM has not appoint an architect and is therefore unable to finalise the construction cost of the factory.

Should the construction of the factory commence in the first quarter of 2014, the factory is expected to be completed by 2016.

KL shares open lower in early trading

Posted: 24 Feb 2013 06:17 PM PST

Share prices on Bursa Malaysia opened lower in early trading Monday in tandem with a few other bourses in the region on selling pressure, dealers said.

As at 9.40am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.82 points lower at 1,620.26.

Some of the regional bourses fell in early trading including South Korea's KOSPI Composite Index easing 1.33 points to 2,017.56 and Shanghai Composite losing 11.79 points to 2,314.16.

"We foresee more downside risks than upside potential, with the benchmark FBM KLCI likely to head towards the psychological mark of 1,600 ahead," HwangDBS Vickers Research said.

The research house said major US equity indices rose between 0.9 per cent and 1.0 per cent on Friday as better economic data in Germany lifted hopes that the eurozone economy remains on a gradual recovery track.

The Finance Index gained 9.63 points to 14,935.8, the Plantation Index dwindled 48.91 points to 7,853.98, while the Industrial Index shed 2.8 points to 2,780.71.

The FBM Emas Index lost 11.46 points to 11,001.05, the FBMT100 declined 11.319 points to 10,866.32, the FBM Ace Index added 3.94 points to 3,944.82 and the FBM Mid 70 Index was 8.29 points lower at 1,966.04.

Losers led gainers by 118 to 103, with 156 counters unchanged, 1,299 untraded and 25 others suspended.

Total volume stood at 101.66 million shares worth RM76.6 million.

Actives, Patimas Computers and Karambunai lost half a sen each to six sen and 11 sen, respectively.

Heavyweights, Maybank advanced six sen to RM9.13, Sime Darby lost one sen to RM9.20 and Axiata was flat at RM6.37.-- Bernama

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Oscar Pistorius 'was told to back off from Reeva Steenkamp' - Telegraph.co.uk

Posted: 24 Feb 2013 08:31 AM PST

"She told me he pushed her a bit into a corner. She felt caged in. I told her I would talk to him. I told him not to force himself on her. Back off.

"He agreed, but his face showed me what he was thinking: 'Oh, this guy is talking nonsense'."

Mr Myers described his anger when he heard about Reeva's death, and that it was Pistorius who had killed her.

"She was my little girl, and he shot her four times from behind a closed door. One shot may have been a mistake – but four times?," he said.

"I have a printing business, and I had large, framed photographs of Oscar and myself. I smashed them all. I don't want to know anything about him.

Miss Steenkamp had lived with Mr Myers, a commercial printer, and his wife Desi since September, and the couple's daughter Kim was the model's closest friend in the city.

Pallbearers carry the coffin of Reeva Steenkamp into the crematorium building in Port Elizabeth (AFP/Getty Images)

He said the Paralympian would have to live with his conscience regardless of the outcome of the forthcoming trial.

"I wouldn't do anything to him, because when it's finished and done, he must live with it. I hope he gets a long sentence. Gets what he deserves.

"People will stay away from him now. Women too, they will be too afraid, no girl wants her a**e shot off. And if my daughter wanted to go out with him, the pawpaw would hit the proverbial fan." Mr Myers said he had decided to talk to the newspaper because, "everywhere you go, it's just Oscar, Oscar".

"But Reeva was the victim, her voice must be heard too. People must know who Reeva Steenkamp was," he said.

did not originally plan to stay with Oscar Pistorius the night she died but changed her mind because it became too late for her to drive home safely, her best friend's father has said.

Oscar Pistorius with Reeva Steenkamp at a friend's engagement party in January

Miss Steenkamp, who grew up in Port Elizabeth, used to introduce him to her friends as her "Joburg dad".

"I've got this thing with all three children (Reeva, and his daughters, Kim and Gina), if they don't come home at night, they must text me," Mr Myers told South Africa's City Press newspaper.

"Then Reeva sent the (SMS) message: 'Hi guys, I'm too tired. It's too far to drive. I'm sleeping at Oscar's tonight. See you tomorrow'.

"Tomorrow never dawned for her I have nightmares at night thinking how frightened she must have been. Can you imagine how terrified she was?"

Police asked Mr Myers, his daughter, Kim, and his son, David, formally to identify Miss Steenkamp's body the morning that she was killed.

"We looked at her through a glass window. She was . . . you know . . . the way someone looks who has been shot . . . The police tried to make it easier for us," he said.

He did not describe Miss Steenkamp's injuries further. Police on Sunday denied reports that Pistorius used a cricket bat found at his house to assault his girlfriend before shooting her.

Mr Myers, who identified Miss Steenkamp's body, told the Daily Telegraph that he was "surprised" by reports that she had been assaulted with a cricket bat.

"When I identified Reeva, I saw no indication of that", he said. "The first I knew about it was when I read it in the papers. I do not know where that came from".

No such evidence was entered by the prosecution during pre-trial proceedings to decide if Pistorius would be granted bail, even though it would likely have affected the magistrate's ruling.

Daytona ready for race, willing to relocate fans - Boston.com

Posted: 24 Feb 2013 08:52 AM PST

DAYTONA BEACH, Fla. (AP) — Fans feeling unsafe after the horrific crash at Daytona International Speedway can change seats for NASCAR's biggest race.

Track President Joie Chitwood says workers successfully repaired a section of fence — 54 feet wide and 22 feet high — that was shredded Saturday when Kyle Larson's car went airborne on the final lap of a second-tier race and crashed through the barrier that separates cars from fans. Large pieces of debris, including a tire, sprayed into the upper and lower section of the stands.

The crash injured more than 30 people, raising more questions about fan safety at race tracks. NASCAR President Mike Helton said ''most everybody'' had been released from local hospitals, but there are a ''few still being treated.''

Chitwood says if any fans are uncomfortable with their up-close seating for Sunday's Daytona 500, officials will work to move them.

''If fans are unhappy with their seating location or if they have any incidents, we would relocate them,'' Chitwood said Sunday. ''So we'll treat that area like we do every other area of the grandstand. If a fan is not comfortable where they're sitting, we make every accommodation we can.''

Track workers finished repairs about 2 a.m. Sunday, having installed a new fence post, new metal meshing and part of the concrete wall.

Officials decided not to rebuild the collapsed cross-over gate, which allows fans to travel between the stands and the infield before races.

Daytona has a grandstand remodel planned. Chitwood said the injuries could prompt a redesign that might include sturdier fences or stands further away from the on-track action.

''It's tough to connect the two right now in terms of a potential redevelopment and what occurred,'' Chitwood said. ''We were prepared yesterday, had emergency medical respond. As we learn from this, you bet: If there are things that we can incorporate into the future, whether it's the current property now or any other redevelopment, we will.

''The key is sitting down with NASCAR, finding out the things that happened and how we deal with them.''

Daytona reexamined its fencing and ended up replacing the entire thing following Carl Edwards' scary crash at Talladega Superspeedway in Alabama in 2009. Edwards' car sailed into the fence and spewed debris into the stands.

''We've made improvements since then,'' Chitwood said. ''I think that's the key: that we learn from this and figure out what else we need to do.''

NASCAR plans to take what remained of Larson's sheared car along with debris back to its research and development center in Charlotte, N.C., for testing.

''We'll bring in the best and brightest,'' said Steve O'Donnell, NASCAR's senior vice president for racing operations. ''Anything we can learn will be put in place. ... Fans are our first priority. Obviously we want everybody to be safe at an event. We've talked to the speedway. We're confident in what's in place at today's event. Certainly still thinking about those affected, but we're confident to move forward for this race.''

The 12-car crash began as the front-runners approached the checkered flag. Leader Regan Smith attempted to block Brad Keselowski for the win, triggering a pileup that could have been much worse.

Larson's burning engine wedged through a gaping hole in the fence. Parts and pieces of his car sprayed into the stands, including a tire that cleared the top of the fence and landed midway up the spectator section closest to the track.

The 20-year-old Larson stood in shock a few feet from his car as fans in the stands waved frantically for help. Smoke from the burning engine briefly clouded the area, and emergency vehicles descended on the scene.

Ambulance sirens could be heard wailing behind the grandstands at a time the race winner would typically be doing celebratory burnouts.

''It was freaky. When I looked to my right, the accident happened,'' Rick Harpster of Orange Park said. ''I looked over and I saw a tire fly straight over the fence into the stands, but after that I didn't see anything else. That was the worst thing I have seen, seeing that tire fly into the stands. I knew it was going to be severe.''

In 1987, Bobby Allison's car lifted off the track at Talladega while running over 200 mph, careening into the steel-cable fence and scattering debris into the crowd. That crash led to the use of horsepower-sapping restrictor plates at Talladega and its sister track in Daytona, NASCAR's fastest layouts.

As a result, the cars all run nearly the same speed, and the field is typically bunched tightly together — which plenty of drivers have warned is actually a more dangerous scenario than higher speeds.Continued...

© Copyright 2013 Globe Newspaper Company.

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Sabtu, 23 Februari 2013

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Vatican denies swirling rumors as pope prepares to step down - CNN

Posted: 23 Feb 2013 09:08 AM PST

Pope Benedict XVI waves in St. Peter's Square in the Vatican in December 2012. Benedict, 85, announced on Monday, February 11, that he will resign at the end of February "because of advanced age." The last pope to resign was Gregory XII in 1415.Pope Benedict XVI waves in St. Peter's Square in the Vatican in December 2012. Benedict, 85, announced on Monday, February 11, that he will resign at the end of February "because of advanced age." The last pope to resign was Gregory XII in 1415.
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Sequester and public opinion? Advantage Obama. (+video) - Christian Science Monitor

Posted: 23 Feb 2013 08:12 AM PST

With just days until the 'sequester' and its automatic spending cuts kicks in, President Obama seems to have the advantage with high poll ratings and a message seen as more compelling.

By Staff writer / February 23, 2013

President Barack Obama speaks about the sequester as he stands with emergency responders, a group of workers the White House says could be affected if state and local governments lose federal money as a result of budget cuts.

Charles Dharapak/AP

Enlarge

A batch of recent headlines gives an indication of where things stand in the Obama-Republican face-off over sequestration and the automatic government spending cuts that could kick in next Friday.

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Correspondent Liz Marlantes with insights into the politics behind the impending spending cuts.

"GOP losing sequester blame game"

"Democrats' Economic Narrative Still Trumps GOP's"

"Poll: President Obama approval highest since '09"

"President Obama's popularity surges to three-year high"

"Congress Approval Holding Steady at 15 percent."

RECOMMENDED: Sequester 101: What happens if $85 billion in cuts hit on March 1

Polls and pundits aren't everything, of course. Most Americans this weekend likely are far more interested in Sunday night's Oscar extravaganza.

And most would likely agree with Atlantic associate editor Matthew O'Brien when he writes – with as much truth as irony – on the magazine's web site: "There is nothing more tedious in the world today than the sequester. The word itself sounds like a prescription sleeping aid." There is, after all the gnashing of teeth over the "fiscal cliff" last month, a bit of "The Boy Who Cried Wolf" here for most people.

Still, if the sequester kicks in, thousands of federal workers could be furloughed, some national park programs could be curtailed, and things could be "very painful for the flying public," as Transportation Secretary Ray LaHood warned Friday.

The sequester no doubt will dominate the Sunday morning TV news shows as Republicans and Democrats angle for rhetorical advantage over the sequester's $85 billion in budget cuts this fiscal year, split evenly between defense and non-defense programs.

At the moment, that advantage seems to be with President Obama and the White House. Just to flesh out those headlines cited above….

Bloomberg News put it starkly this week: "President Barack Obama enters the latest budget showdown with Congress with his highest job-approval rating in three years and public support for his economic message, while his Republican opponents' popularity stands at a record low."

Specifically, 55 percent of those polled by Bloomberg last week approve of Obama's performance in office, his strongest level of support since September 2009. But only 35 percent have a favorable view of the Republican Party, the lowest rating over the same period. The GOP's brand slipped six percentage points in the last six months, the poll shows.

Asked who is more to blame for "what's gone wrong" in Washington, those surveyed picked Republicans over Obama 43-34 percent.

Similarly, Gallup finds public approval of Congress – just 15 percent – is "at the low end of the historical spectrum." It's not great news for either party, but Democrats have a slight edge in public approval – 19 percent to 12 percent for the GOP.

Kredit: www.nst.com.my
 

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