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WASHINGTON - The Rangers applied pressure in the third period Wednesday night while trailing the Capitals, 3-1, but when Ryan Callahan appeared to have narrowed the deficit, replays showed he had kicked in the rebound of a Brad Richards shot from the point, and the goal was disallowed.
It was the right call, but it also pushed the Blueshirts power play to one-for-its last 16, and 0-for-8 in two games since the Christmas break.
Richards, one of the captains of that lifeless power play, registered four shots on goal in 19:32 of ice time, but he was a minus-three and committed that crucial turnover that led to Alexander Semin's goal to make it 3-1 in the second period. Not only that, but check out this stat: since Richards' fluky backhanded goal in the final second of a 3-2 win in Phoenix on Dec. 17, Richards has zero points. Five games, zero points.
Before John Tortorella gave his morning skate interview at the Verizon Center on Wednesday, he stopped in the hallway to talk to Richards, who was standing near one of the workout bikes with Ryan Callahan. Tortorella spoke to Richards for about 30 to 45 seconds, appearing to instruct him on strategy for the night's game. It was a constructive, back-and-forth conversation between a few of the team's leaders and veterans. But clearly, whatever message was delivered then did not sink in at game time.
The Blueshirts also have fallen into second place in the Eastern Conference, after Boston defeated Phoenix, 2-1, in a 9 p.m. start. The Bruins now have 49 points, one more than the Rangers.
The Blueshirts will practice at the Kettler Capitals Iceplex in Arlington, Va. on Thursday afternoon before flying to Fort Lauderdale for Friday's game in Sunrise, Fla. against the Panthers. In the meantime, here are the postgame quotes from Wednesday's 4-1 loss to the Caps:
RANGERS POSTGAME TRANSCRIPT ? JOHN TORTORELLA, RYAN McDONAGH, MARTIN BIRON, BRIAN BOYLE
?
JOHN TORTORELLA
On whether he was disappointed with the defensive effort: ?I wouldn?t say it?s defensive. I?d say it?s some brain-dead plays at our blue line as far as turnovers. It?s unfortunate with Del Z, he loses the puck there on the first one. But a turnover by Mitch and turnover by Richie, not against their third or fourth line, against their top line. It kills us. That?s what?s frustrating. I thought we beat ourselves a little bit there in those situations. They?re an opportunistic team. They don?t want to defend. They want nothing to do with it. So what do we do. We don?t allow them to defend on those plays and they go score goals and they get rolling. That?s where they gained their momentum. So that?s what?s frustrating.
?
RYAN McDONAGH
On what turned the momentum, whether it was lack of puck discipline: ?Yeah I think we definitely wanted some plays back in the second period there. They were coming with good speed. A couple times they catch us and they made us pay for it. We?ve had great goaltending and they can only do so much when you keep giving them breakaways and odd-man rushes, especially with this team they?re gonna score. We didn?t protect the puck as well as we wanted to, but I thought we kept with it in the third period and gave it a good effort there.?
?
On whether allowing Caps get out on rush was the difference between this loss and the win in November: ?Yeah, that?s the thing. That team?s got a lot of talent and speed and they thrive on transition game. Tonight we didn?t get pucks in when we needed to or were trying to look for something prettier, caught out there in shifts, especially on the second it was a long chance. We got pinned in our zone a couple times, and they made us pay.?
?
BRIAN BOYLE
On whether Rangers got away from their trademark forecheck/dump and chase: ?You want to be able to make plays. We want to grind them down, that?s what?s made us successful. We?ve done a pretty good job of that, but sometimes you make mistakes. This was a good team. They countered on us pretty good. But our main focus is we don?t want to give the puck away. You want to make them take it from us, putting it in good areas so we can get it back. It?s not like we didn?t do it at all tonight. We had some really good shifts. In the first period we did a pretty good job of that. But if you let them bring it like that, if it ends up turnovers and they score, we?ve got to come back and score, and we obviously didn?t. We had our chances. It?s frustrating.
?
On not scoring on McDonagh?s rebound midway through the third period with a bouncing puck: ?Well sure it?s bouncing but I?ve got to put that in. We?re supposed to be NHL players and I should handle that. It?s tough. When I got back to the bench, I was pissed. Tried to come back and we got a couple more chances after that, but ??
?
On earning time on the power play: ?Yeah, we?re just trying to play the same way. If we take care of the puck, we had a big responsibility tonight trying to stop that (Ovechkin) line. I turned one over in the D zone, we had a little mishap in the neutral zone, stuff like that. One mistake will kill you. But like I said, I had a chance to make a big play and it?s hard not to get frustrated. You want to stay positive. It?s been a while. It?s tough. I accept that. That?s a lot of responsibility and if I?m going to play these minutes, I want to score. I feel like I?m going to though. We kept coming and kept having shifts. I?m not saying my confidence is sky-high right now offensively, but I?m just trying to keep it positive and I should have buried that.?
?
On earning more minutes even though he?s not scoring: ?When they?re not going in, you can?t give ?em up.?
?
MARTIN BIRON
On what shifted the momentum: ?Obviously little things in the game will make a difference. We all know as a team what those little things were tonight. I?m sure the coaching staff knows. We?ve just got to have the attitude that the little bit of room that we gave their top line, we?ve just got to be careful in the next games, because those are big points and big guys that you?re playing against. You?ve got to be able to control the play against a line like that. So they were able to come back and get a couple good goals and that really made the difference in the second, when we couldn?t sustain the pressure that we had in the first period.?
?
On his own performance: ?Right now, it?s extremely disappointing, knowing that we come in here and this was a big opportunity for us to get a couple points and we just needed to ? I don?t know. It?s just disappointing when you?re gonna chew on that for a little bit here. But tomorrow you?ve got to forget about it. And that?s probably the attitude you?ve got to have.?
?
Have a question about the Blueshirts or a comment? Find Pat on Twitter at @NYDNRangers.
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Bilal Randeree
Source: http://twitter.com/bilalr/statuses/152419995928887299
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Seoul, South Korea ? About 200,000 North Koreans bade a tearful farewell today to ?Dear Leader? Kim Jong-il in a three-hour funeral procession in Pyongyang that made one point clear: North Korean strategists want the world to know that third son Kim Jong-un is their new leader.
While crowds wept and wailed to the stentorian sounds of funeral music, Kim Jong-un, wearing a long black coat, trudged in snow under gray skies on the right side of the hearse bearing the flag-draped coffin of his father on the roof.
That image provides compelling visual evidence of the rapid ascent of Kim Jong-un, still in his late 20s, to the top of the North Korean hierarchy. Regardless of how much power he really wields among the other top leaders ? also walking beside the hearse ? he will hold the country?s highest military and party titles.
Just how isolated is North Korea? 6 facts to consider
Now the question is whether he can endure the advice of his uncle Jang Song-thaek, right behind him in the funeral cortege. The corollary question is whether North Korea will collapse under the weight of the hunger, poverty, and disease afflicting the vast majority of citizens outside the ruling elite and military establishment of some 1.1 million troops, believed to be the world?s fourth or fifth largest.
As far as people here are concerned, stability would be the best outcome for North Korea ? though few might be able to predict the long-range future of a country that?s increasingly dependent on China, its Korean War ally, for fuel, food, military support and much else needed to survive.
?Most people support the theory that Kim Jong-un will settle down successfully,? says Kim Tae-woo, president of the Korea Institute of National Unification. ?He is of royal pedigree? ? an allusion to his inheritance of the dynasty founded by his long-ruling grandfather, Kim Il-sung ? ?and therefore he has a kind of legitimacy.?
RELATED: 4 questions about 'dear successor' Kim Jong-un
That view of continuity and stability in North Korea is common among analysts even as Kim Jong-un has to learn to lead North Korea?s 24 million people.
That task assumes urgency while North Korean planners try to realize Kim Jong-il?s dream of ?a strong and prosperous country? by next year.
Worst case scenario?Most ordinary South Koreans express the idea that it's in their country's interest to keep North Korea stable. Only as a worst-case scenario does the prospect of a ?collapse? of a system that?s endured countless forecasts of failure come up in serious discussion.
?Collapse can be a disaster,? says Kim Tae-woo, who?s followed North Korea closely as a military analyst, but he believes ?China?s unconditional support? is ?one reason why North Korea in its present form will prevail.?
That?s the conventional view among analysts as China steadily increases its influence over the North. Reports here are that China is assiduously spreading propaganda, claiming among other things, that the Korean national dish, kimchi, a spicy confection of pickled cabbage and other vegetables, actually came from China.
?The Chinese strategy, no matter what, is to occupy North Korea,? says Chang Han-jin, a salesman. ?China will send troops or aid to North Korea if necessary to make sure of their power there.?
Shim Jae-hoon, a long-time political consultant here, agrees. ?China is interested in propping up the regime whatever comes,? he says. ?I don?t see any sign of North Korea cracking up. The more North Korea is dependent on China, the better it is for them.?
Strongman or friend? Still, speculation here tends to focus on a question other than collapse ? whether Kim Jong-un will assert himself as a strongman or adopt a conciliatory policy toward his people as well as South Korea and the US.
?There?s no other option for him but to be more cooperative with the outside world,? says Paik Hak-soon, senior fellow at the Sejong Institute, a think tank here. In the quest for food aid from South Korea and the US, both of which stopped shipments of food in 2008, Mr. Paik predicts that Kim will be open to negotiations on suspending the nuclear weapons program that was probably his father?s most obvious legacy.
Paik acknowledges, though, North Korea does not want to ?to appear weak and bow to pressure,? particularly in view of the power of the generals with whom Kim Jong-un might eventually come into conflict.
Kim Jong-un, like his father before him, is now ?supreme commander? of the armed forces, but some observers believe he may find the military holds the final power.
?If he goes the wrong way, they?ll push him back,? says Tim Peters, a missionary with long experience here dealing with refugees from the North. ?Word is he was more harsh than his father when he was taking over security services? ? and ordered the executions of defectors who had fled to China and then sent back by Chinese authorities, says Mr. Peters.
People here are aware of the existence of vast prison camps in North Korea and the depths to which North Korea has fallen economically, but hardly want to consider the implications of the downfall of the regime.
?I don?t want to think about it,? says Moon Su-jin, working in a travel agency here. ?It?s too scary.?
Just how isolated is North Korea? 6 facts to consider
RELATED: 4 questions about 'dear successor' Kim Jong-un
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Source: http://us.rd.yahoo.com/dailynews/rss/nkorea/*http%3A//news.yahoo.com/s/csm/20111228/wl_csm/442348
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Strategy Informer
Source: http://twitter.com/SInformer/statuses/151209892001218560
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BEIJING (Reuters) ? North Korea will shift to collective rule from a strongman dictatorship after last week's death of Kim Jong-il, although his untested young son will be at the head of the ruling coterie, a source with close ties to Pyongyang and Beijing said.
The source added that the military, which is trying to develop a nuclear arsenal, has pledged allegiance to the untested Kim Jong-un, who takes over the family dynasty that has ruled North Korea since it was founded after World War Two.
The source declined to be identified but has correctly predicted events in the past, telling Reuters about the North's first nuclear test in 2006 before it took place.
The comments are the first signal that North Korea is following a course that many analysts have anticipated -- it will be governed by a group of people for the first time since it was founded in 1948.
Both Kim Jong-il and his father Kim Il-sung were all-powerful, authoritarian rulers of the isolated state.
The situation in North Korea appeared stable after the military gave its backing to Kim Jong-un, the source said.
"It's very unlikely," the source said when asked about the possibility of a military coup. "The military has pledged allegiance to Kim Jong-un."
North Korea's collective leadership will include Kim Jong-un, his uncle and the military, the source said.
Jang Song-thaek, 65, brother-in-law of Kim Jong-il and the younger Kim's uncle, is seen as the power behind the throne along with his wife Kim Kyong-hui, Kim Jong-il's sister. So too is Ri Yong-ho, the rising star of the North's military and currently its most senior general.
The younger Kim, who is in his late 20s, has his own supporters but is not strong enough to consolidate power, analysts said.
"I know that he's been able to build a group of supporters around himself who are of his generation," said Koh Yu-hwan, president of the Korean Association of North Korean Studies in Seoul.
"So it is not entirely elders in their 70s, plus some like Jang in their 60s, who are backing him. These young backers will be emerging fairly soon."
Koh said the coterie was put in place by Kim Jong-il before he died. "The relative calm seen these few days shows it's been effective. If things were not running smoothly, then we'd have seen a longer period of 'rule by mummy', with Kim Jong-il being faked as still being alive."
He said the younger Kim would accept the set-up, for now. "Considering the tradition of strongarm rule by his father and grandfather, things can't be easy for him," he said.
"REGIME SURVIVAL"
Ralph Cossa, an authority on North Korea and president of the U.S. think tank Pacific Forum CSIS, said it made sense that the ruling group would stick together.
"All have a vested interest in regime survival," he said. "Their own personal safety and survival is inextricably tied to regime survival and Kim Jong-un is the manifestation of this. I think the regime will remain stable, at least in the near-term."
He added in a commentary that the new group may be inclined to reform, but stressed this was far from confirmed.
"Over the long term, there appears to be some hope, primarily emanating from Beijing, that Kim Jong-un will take North Korea down the path of Chinese-style reform, apparently based on the belief that Jang is or will be a 'reformer'."
"Who knows, this may be true. While this could relieve the suffering of the North Korean people over time, it will do little to promote the cause of denuclearization, however."
The high-level source also said North Korea test-fired a missile on Monday to warn the United States not to make any moves against it. Pyongyang however had no immediate plans for further tests, barring an escalation of tensions.
"With the missile test, (North) Korea wanted to deliver the message that they have the ability to protect themselves," the source said.
"But (North) Korea is unlikely to conduct a nuclear test in the near future unless provoked" by the United States and South Korea, the source said.
The unpredictable North's nuclear program has been a nagging source of tension for the international community.
Pyongyang carried out nuclear tests in 2006 and 2009, and has quit six-party talks with South Korea, the United States, China, Japan and Russia on abandoning its nuclear program and returning to the Non-Proliferation Treaty.
The high-level source also said Beijing was only notified of Kim's death earlier on Monday, the same day North Korean state television broadcast the news. Kim died on Saturday.
A leading South Korean newspaper reported on Wednesday China learned of Kim's death soon after it occurred.
China has given no official comment or even hints suggesting it was told of Kim's death before the public announcement.
Beijing, the North's closest ally and biggest provider of aid, has pulled out the stops to support the younger Kim.
The government has invited him to visit and, in an unusual gesture, President Hu Jintao and Vice-President Xi Jinping also visited the hermit state's embassy in Beijing to express their condolences. Roads leading to the embassy were blocked.
Mainly, the prospect of instability on its northeastern border worries China and it sees the younger Kim and his coterie as the best prospect for keeping North Korea on an even keel.
North Korea has been pressed by China to denuclearize and is willing to do so on condition that North and South Korea, the United States and China sign an armistice replacing a 1953 ceasefire agreement, the source said.
The two Koreas have been divided for decades and remain technically at war since their 1950-53 conflict ended with an armistice but no peace agreement. The United States backed the South, while China supported the North in that conflict.
Pyongyang is also convinced there are U.S. nuclear weapons in South Korea and demands Washington pull them out, the source said.
(Additional reporting by Jack Kim in Seoul; Editing by Raju Gopalakrishnan and Jonathan Thatcher)
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BAGHDAD ? Nearly nine years after American troops stormed across the Iraq border in a blaze of shock and awe, U.S. officials quietly ended the bloody and bitterly divisive conflict here Thursday, but the debate over whether it was worth the cost in money and lives is yet unanswered.
While many of the speeches painted a picture of victory ? for both the troops and the Iraqi people now set on a path for democracy ? the gnawing questions remain: Will Iraqis be able to forge their new government amid the still stubborn sectarian clashes. And will Iraq be able to defend itself and remain independent in a region fraught with turmoil and still steeped in insurgent threats.
Stark reminders of the fragile and often violent nature of the situation in Iraq engulfed the 45-minute ceremony. It was tucked into fortified corner of the airport, ringed with concrete blast walls. And on the chairs ? nearly empty of Iraqis ? were tags that listed not only the name of the VIP assigned to the seat, but the bunker they should move to in case of an attack.
The speeches touched on the success of the mission as well as its losses: Nearly 4,500 Americans and 100,000 Iraqis killed. Another 32,000 American and tens of thousands Iraqis wounded. And $800 billion from the U.S. Treasury.
On the other side of the ledger, an Iraq free from the tyranny of Saddam Hussein, inching forward toward democracy and vowing to be a good neighbor in the region.
"To be sure the cost was high ? in blood and treasure of the United States and also the Iraqi people," Defense Secretary Leon Panetta told the roughly 200 troops and others in attendance. "Those lives have not been lost in vain -- they gave birth to an independent, free and sovereign Iraq."
Gen. Lloyd Austin, the top U.S. commander in Iraq, said the Iraqi people now have an unprecedented opportunity to live in a relatively peaceful environment, but he also acknowledged it will be a challenging time. And he urged Iraqi leaders to make good choices based on what is best for their people.
"Violence and prosperity cannot co-exist," said Austin, who eight years, eight months and 26 days ago gave the order for U.S. troops to storm across the border into Iraq. And on Thursday he gave the order to retire the flag of U.S. Forces-Iraq.
The flag was then rolled up, covered by a camouflage colored sheath and will be brought back to the U.S.
Speaking to the troops in the audience, Panetta lauded their service and their bravery, adding, "You will leave with great pride ? lasting pride ? secure in knowing that your sacrifice has helped the Iraqi people to begin a new chapter in history."
Many Iraqis, however, are uncertain of how that chapter will unfold. Their relief at the end of Saddam, who was hanged on the last day of 2006, was tempered by a long and vicious war that was launched to find non-existent weapons of mass destruction and nearly plunged the nation into full-scale sectarian civil war.
"With this withdrawal, the Americans are leaving behind a destroyed country," said Mariam Khazim, a Shiite whose father was killed when a mortar shell struck his home in Sadr City. "The Americans did not leave modern schools or big factories behind them. Instead, they left thousands of widows and orphans. The Americans did not leave a free people and country behind them, in fact they left a ruined country and a divided nation."
Some Iraqis celebrated the exit of what they called American occupiers, neither invited nor welcome in a proud country.
"The American ceremony represents the failure of the U.S. occupation of Iraq due to the great resistance of the Iraqi people," said lawmaker Amir al-Kinani, a member of the political coalition loyal to anti-American cleric Muqtada al-Sadr.
Others said that while grateful for U.S. help ousting Saddam, the war went on too long. A majority of Americans would agree, according to opinion polls.
The low-key nature of the ceremony stood in sharp contrast to the high octane start of the war, which began before dawn on March 20, 2003, with an airstrike in southern Baghdad where Saddam was believed to be hiding. U.S. and allied ground forces then stormed across the featureless Kuwaiti desert, accompanied by reporters, photographers and television crews embedded with the troops.
The final few thousand U.S. troops will leave Iraq in orderly caravans and tightly scheduled flights.
Austin led the massive logistical challenge of shuttering hundreds of bases and combat outposts, and methodically moving more than 50,000 U.S. troops and their equipment out of Iraq over the last year ? while still conducting training, security assistance and counterterrorism battles.
The war "tested our military's strength and our ability to adapt and evolve," he said, noting the development of the new counterinsurgency doctrine.
As of Thursday, there were two U.S. bases and less than 4,000 U.S. troops in Iraq ? a dramatic drop from the roughly 500 military installations and as many as 170,000 troops during the surge ordered by President George W. Bush in 2007, when violence and raging sectarianism gripped the country. All U.S. troops are slated to be out of Iraq by the end of the year, but officials are likely to meet that goal a bit before then.
The total U.S. departure is a bit earlier than initially planned, and military leaders worry that it is a bit premature for the still maturing Iraqi security forces, who face continuing struggles to develop the logistics, air operations, surveillance and intelligence-sharing capabilities they will need in what has long been a difficult region.
Despite President Barack Obama's earlier contention that all American troops would be home for Christmas, at least 4,000 forces will remain in Kuwait for some months. The troops will be able to help finalize the move out of Iraq, but could also be used as a quick reaction force if needed.
Obama stopped short of calling the U.S. effort in Iraq a victory in an interview taped Thursday with ABC News' Barbara Walters.
"I would describe our troops as having succeeded in the mission of giving to the Iraqis their country in a way that gives them a chance for a successful future," Obama said.
Despite the war's toll and unpopularity, Panetta insisted that it "has not been in vain."
Iraqi citizens offered a more pessimistic assessment. "The Americans are leaving behind them a destroyed country," said Mariam Khazim of Sadr City. "The Americans did not leave modern schools or big factories behind them. Instead, they left thousands of widows and orphans."
The Iraq Body Count website says more than 100,000 Iraqis have been killed since the U.S. invasion. The vast majority were civilians.
Panetta echoed Obama's promise that the U.S. plans to keep a robust diplomatic presence in Iraq, foster a deep and lasting relationship with the nation and maintain a strong military force in the region.
U.S. officials were unable to reach an agreement with the Iraqis on legal issues and troop immunity that would have allowed a small training and counterterrorism force to remain. U.S. defense officials said they expect there will be no movement on that issue until sometime next year.
Obama met in Washington with Iraqi Prime Minister Nouri al-Maliki earlier this week, vowing to remain committed to Iraq as the two countries struggle to define their new relationship. Ending the war was an early goal of the Obama administration, and Thursday's ceremony will allow the president to fulfill a crucial campaign promise during a politically opportune time. The 2012 presidential race is roiling and Republicans are in a ferocious battle to determine who will face off against Obama in the election.
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"Some Cereals Have More Sugar Than a Twinkie" headlined the St. Petersburg Times last Friday. Indeed, added sugar is omnipresent in most processed foods and drinks. Why? It's simple: we like it!
Why We Crave Sugar (Even Though It's Not Good For Us)
The craving for sweets probably originated over thousands of years. The best way the human body could get Vitamin C and other nutrients was from "sweet" fruit. While fruit does contain sugar, amounts are small, and unlike soda, it is difficult to consume large quantities. Imagine you are given an unlimited amount of apples. If hungry, how many would you eat? Probably not many - even if you like apples.
The High Fructose Corn Syrup (HFCS) Controversy
Many blame HFCS consumption for large increases in obesity and diabetes in the U.S. over the last 40 years. I graduated from high school in 1967 - shortly before HFCS was introduced into the U.S. market. Looking through my old yearbook I find hardly anyone overweight. Obviously, something has gone terribly wrong. Although consumption has fallen somewhat in recent years, HFCS is still almost half of all added sugar in the U.S. diet. Gallup now finds 63% of American adults are overweight or obese.
The Corn Refiners Association vehemently denies HFCS is worse than natural sugar. Yet, former Princeton University professor Bart Hoebel, a specialist in sugar addiction and obesity, notes:
When rats are drinking high-fructose corn syrup at levels well below those in soda pop, they're becoming obese -- every single one, across the board. Even when rats are fed a high-fat diet, you don't see this.
Whether it's HFCS or just plain sugar, we eat and drink too much of the stuff, and it's making us sick.
Will Stevia Make Our Beverages and Foods Healthier?
Our cravings for sugar are unlikely to go away. Perhaps, however, consumers will recognize the benefits of satisfying this craving with a healthier alternative - an alternative like stevia.
Stevia is a zero calorie, all natural sweetener, derived from Stevia rebaudiana leaves. Certain extracts from stevia leaves are now FDA approved and marketed by companies such as privately held Cargill, Coca-Cola (KO), and Pepsi (PEP). Truvia is a stevia based sugar substitute developed jointly by Cargill and Pepsi. Stevia is used in flavored water, juice, baked goods, and as a table top sugar substitute. It can be blended with sugar to produce an "all natural" but reduced caloric product.
Coca-Cola is now marketing stevia sweeteners in Brazil and the European Union. It remains to be seen if stevia products will make inroads into mainstream beverage and food markets.
Investing Directly in Stevia
PureCircle (PURE.L - on the London exchange) is the world's leading producer of stevia ingredients. The company's website claims it's the "driving force behind moving stevia from niche to mainstream global acceptance." PureCircle supplies both Coca-Cola and Pepsi with Stevia products. In February 2010 PureCircle launched a joint venture with Imperial Sugar (IPSU) to market sugar/stevia sweetener blends.
Stevia Corporation (STEV.OB) is a farm management company expressly created to grow and market plants (Stevia rabaudiana) to produce stevia. The company has contracted with growers in Vietnam and Indonesia and has a supply contract in place with PureCircle. As far as I can tell the company is still in the organizational stage and has no revenue yet.
The potential for stevia is huge. If the epidemic of obesity and diabetes finally convinces consumers to limit sugar intake stevia may be the answer that keeps everyone happy. I will be convinced when they successfully put stevia in chocolate.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Investments in PureCircle and Stevia Corporation should be considered as highly speculative.
Source: http://seekingalpha.com/article/314025-investing-in-stevia-s-huge-potential
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Despite recent downswings, gold is projected to reach $3400 in the next few years. And outside economic factors should help it climb even higher
Have yourself a merry little depression.
Skip to next paragraph Bill BonnerBill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance. Since 1999, Bill has been a daily contributor and the driving force behind The Daily Reckoning (dailyreckoning.com).
Dow up 45 points. Gold down $9.
We?re still waiting for a major correction in the gold market. Each time one begins, it seems to run out of steam before doing any real damage. At yesterday?s closing price, $1,577, gold is still solidly ahead for the year.
So, where?s the soft spot? Where?s the test? Where will it come from? When?
Don?t worry, dear reader, Mr. Market will test us. He?ll throw his curve ball. We have to be ready.
What if?
?instead of testing us on the downside, he tests us on the upside? This is not a prediction. Just a thought. What if gold suddenly shot up?and looked like it was going to the moon. What would we do?
Citigroup?s metals expert puts a $3,400 price on gold ?in the next year or two.?
Jim Rogers makes a similar forecast.
What if they?re right? We only mention it because The Trickster has more than one trick up his sleeve. And he?s perfectly capable of running the price up to $3,500 BEFORE testing us.
We could get giddy, watching the price of gold hit record after record. And then, just when we think it is ready to scale its final peak, gold could turn tail and run for the valley. We wouldn?t believe it. We would hold on. We would wait for it to go back up.
And then?wouldn?t we feel stupid, if we?d taken that ride all the way to over $3,000?and then rode it all the way back to today?s level? Wouldn?t we be put out with ourselves, if we sold out then?thinking gold had put in its final top and we missed it?
According to the 50% principle?it could hit $3,000?collapse to barely $1,500?and then soar again?possibly going to $5,000?or even $10,000. That?s what we?ll get in the final ?crack up? boom that is coming.
Who knows?
But what we see is more upside than downside for gold. Because the motor pulling gold up still has a lot of gas in the tank.
In the US the feds spend $1.60 for every dollar they raise in taxes. In Europe, the euro-feds prepare to bail out their banks and sovereign debtors.
And guess how much the feds have already spent? They were so desperate to avoid a debt crisis?or a depression?that they threw the throttle wide open on the biggest rescue effort the world has ever seen. Bloomberg calculated that $7.7 trillion were put to work. Our estimate was higher ? about $10 trillion, we guessed.
Well?we were both way off. Here?s the news report:
As part of the Ford Foundation project ?A Research and Policy Dialogue Project on Improving Governance of the Government Safety Net in Financial Crisis,? Nicola Matthews and James Felkerson have undertaken an examination of the data on the Fed?s bailout of the financial system ? the most comprehensive investigation of the raw data to date.
The extraordinary scope and magnitude of the recent financial crisis of 2007-09 required an extraordinary response by the Fed in the fulfillment of its lender-of-last-resort function.
The bottom line: a Federal Reserve bailout commitment in excess of $29 trillion.
Whoa! The feds put at risk an amount equal to 200% of US GDP. And for what? So that a depression wouldn?t knock 5% off GDP? Even the Great Depression of the ?30s only set the US back by 30% of GDP. A similar setback today would cost the economy less than $5 trillion.
Do you see what we see? Even if it worked ? which it didn?t ? the feds? efforts would have been a disaster. Who would spend $29 trillion to save $5 trillion?
But wait. There?s more. This assumes that a depression is unnecessary?or that it doesn?t do any good. We know that?s not true. A depression does a lot of good. It wipes out bad investments and eliminates bad speculators. It forces capital into more productive, more profitable uses. It kills off zombie industries. It retires worn-out industries?and reduces costs so that new industries can arise. It?s the ?destruction? that Schumpeter?s ?creative destruction? needs.
The more we think about it, the more we?re beginning to like depressions. After scammy bailouts and bogus recoveries, a depression would be something to look forward to.
Bill Bonner
?for The Daily Reckoning
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FOR USE AS DESIRED, YEAR END PHOTOS - FILE -In this Oct. 3, 2011 file photo, Amanda Knox breaks in tears after hearing the verdict that overturns her conviction and acquits her of murdering her British roommate Meredith Kercher, at the Perugia court, central Italy. Italian appeals court threw out Amanda Knox's murder conviction and ordered the young American freed after nearly four years in prison for the death of her British roommate. (AP Photo/Pier Paolo Cito, File)
FOR USE AS DESIRED, YEAR END PHOTOS - FILE -In this Oct. 3, 2011 file photo, Amanda Knox breaks in tears after hearing the verdict that overturns her conviction and acquits her of murdering her British roommate Meredith Kercher, at the Perugia court, central Italy. Italian appeals court threw out Amanda Knox's murder conviction and ordered the young American freed after nearly four years in prison for the death of her British roommate. (AP Photo/Pier Paolo Cito, File)
MILAN, Italy (AP) ? The Italian appeals court that overturned Amanda Knox's murder conviction in the slaying of her British roommate gave the reasons for its ruling on Thursday: the evidence that had been used by a lower court against the American and her Italian boyfriend just didn't hold up.
Those shortcomings included no murder weapon, faulty DNA, an inaccurate time for the killing, and insufficient proof that Knox and Raffaele Sollecito were even at the location where the crime occurred. So said the Perugia appellate court in its long-awaited reasoning behind its October ruling that reversed the lower court's convictions.
British college student Meredith Kercher was found slain in a pool of blood on her bedroom floor in Perugia, Italy, on Nov. 2, 2007.
Knox and Sollecito, who had just begun dating at the time of the murder, were arrested several days later, then convicted in what prosecutors' portrayed as a drug-fueled sexual assault. They were sentenced to 26 years and 25 years, respectively, in proceedings that made headlines around the world.
On Thursday, the appellate cited among the other failed elements of the prosecutors' case DNA evidence, which was undermined during a re-examination in the appeals trial, and the failure to conclusively identify the murder weapon. The appellate court even contradicted the lower court's time of death, saying it happened at around 10:15 p.m., not after 11 p.m. The court said the "building blocks" used to construct the case had failed.
The appeals court also said there was no proof of the prosecutors' claim that Knox and Sollecito had helped a third man, who was convicted separately, of sexually assault Kercher, nor was there evidence that the pair had simulated a burglary by throwing a rock through a window to remove suspicion from themselves, as prosecutors alleged.
The appeals court said the lower court had arrived at a verdict "that was not corroborated by any objective element of evidence and in itself was not, in fact probable: the sudden choice of two young people, good and open to other people, to do evil for evil's sake, just like that, without another reason."
"It is not, therefore, sufficient that the probability of the prosecutors' hypothesis is greater than the hypothesis of the defense, not even when they are notably greater in number, but it is necessary that every explanation that differs from the prosecutors' hypothesis is, according to the criteria of reasonability, not at all plausible," the court said.
The only elements of the prosecutors case that were proven, the appeals court said, were the charge of slander against Knox, who was convicted of falsely accusing a bar owner of killing Kercher, and the fact that the Knox and Sollecito alibis did not match.
That the alibis were out of synch "is very different" from the prosecutors' claim of false alibis, the court said.
The proven elements combined, the court said, are not enough to support convictions against Knox and Sollecito.
"The only elements that are sustained don't allow the belief, even when put together, that the guilt of Amanda Knox and Raffaele Sollecito for the crime of murder ... has been proven," the court said.
After her conviction was thrown out, Knox, 24, returned immediately home to Seattle. She was credited with time served for the conviction of slander for accusing bar owner Diya "Patrick" Lumumba of carrying out the killing.
Prosecutors contended a kitchen knife found at Sollecito's house was the weapon because it matched wounds on Kercher's body and carried traces of Kercher's DNA on the blade and Knox's on the handle. However, the court-ordered review discredited the DNA evidence, saying there were glaring errors in evidence-collecting and that below-standard testing and possible contamination raised doubts over the DNA traces on the blade and on Kercher's bra clasp.
In addition, the defense cast doubt on the knife, questioning why Knox and Sollecito would return it to Sollecito's home if it had been used in the murder. They maintain the real weapon has yet to be found.
A third defendant in the case, Rudy Hermann Guede of the Ivory Coast, was convicted in a separate trial of sexually assaulting and stabbing Kercher. His 16-year prison sentence ? reduced on appeal from an initial 30 years ? was upheld by Italy's highest court in 2010.
The appeals court also expressed incredulity that the two would have cooperated in such a crime with Guede, with whom there is no proof of any relationship. "For example, there is no evidence of phone calls or text messages between the three," the court said.
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WASHINGTON ? Federal Reserve Chairman Ben Bernanke has assured Republican senators that the Fed does not intend to bail out Europe from its debt crisis, according to participants in the meeting Wednesday.
Sen. Lindsey Graham, R-S.C., said Bernanke told the group that he did not "have the intention or the authority" to provide bailout support to Europe.
Sen. Bob Corker, R-Tenn., said Bernanke had offered this assurance "multiple times" during the closed-door meeting, which lasted about an hour.
"I think people walked away knowing he has no intentions whatsoever of furthering U.S. involvement in the crisis," Corker told reporters.
Lawmakers in both parties have expressed sharp opposition to any U.S. support for Europe that might put taxpayer money at risk, especially after the uproar that followed the $700 billion bailout of U.S. financial institutions beginning in 2008.
Bernanke was invited to meet with GOP senators by Sen. Lamar Alexander of Tennessee, the chairman of the Senate Republican conference. The session came after a similar discussion Bernanke held with Senate Democrats on Oct. 20.
Senators said Bernanke told them that the Fed was studying developments in Europe and their possible impact on the U.S. economy.
"He's very concerned," Sen. Orin Hatch, R-Utah, told reporters. "He did say, if they can't get their fiscal situation under control, it could affect us. A collapse over there would be detrimental to us."
Fed policymakers held their final meeting of the year Tuesday. In a statement afterward, they portrayed the economy as slightly healthier despite risks from the European crisis. The Fed held off on any new steps to boost U.S. growth.
In its statement Tuesday, the Fed warned of risks to the economy from strains in global financial markets, a reference to Europe's problems
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MOSCOW (Reuters) ? Vladimir Putin's ruling party clung to a much reduced majority in parliament on Monday after an election that showed growing weariness with the man who has dominated Russia for more than a decade and plans to return to the presidency next year.
President Dmitry Medvedev said the election was "fair, honest and democratic", but European monitors said the field was slanted in favor of Putin's United Russia and the vote marred by apparent manipulations including ballot box stuffing.
In the biggest electoral setback for Putin since he rose to power in 1999, the Central E lection Commission said United Russia was set to lose 77 seats in the State Duma and end up with 238, a slim majority in the 450-member lower house.
Medvedev, who led the party into the election at Putin's behest, said voters had sent "a signal to the authorities" and hinted officials in regions where the party did badly could face dismissal if they do not shape up.
"United Russia did not do too well in a series of regions, but not because people refuse to trust the party itself ... but simply because local functionaries irritate them," he said. "They look and they say ... if that's United Russia, there's no way I'm going to vote for him."
Opponents said even United Russia's official result -- just under 50 percent of the vote -- was inflated by fraud. The leader of the Communist Party, on target to increase its representation from 57 to 92 seats, said the election was the dirtiest since the collapse of the Soviet Union in 1991.
Although Putin is still likely to win a presidential election next March, Sunday's result could dent the authority of the man who has ruled for 12 years with a mixture of hardline security policies, political acumen and showmanship but who was booed and jeered after a martial arts bout last month.
"Many Russians voted against the system and Putin is the head of that system," said Stanislav Kucher, a commentator with Kommersant FM radio station.
"Putin has a very difficult choice. To survive politically he needs to reform but he can only reform if he gets rid of many vested interests in the ruling circle. To stay as he is means the opposite of political survival."
Putin has cultivated a tough man image with stunts such as riding a horse bare chested, tracking tigers and flying a fighter plane. But the public appears to have wearied of the antics and his popularity, while still high, has fallen.
Many voters, fed up with widespread corruption, refer to United Russia as the party of swindlers and thieves and resent the huge gap between the rich and poor. Some fear Putin's return to the presidency may herald economic and political stagnation.
PUTIN SAYS OPTIMAL RESULT
Putin and Medvedev, the protege he ushered into the Kremlin when he faced a legal bar on a third consecutive term in 2008, made a brief appearance at a subdued meeting at United Russia headquarters late on Sunday.
Medvedev said United Russia, which had previously held a two thirds majority allowing it to change the constitution without opposition support, was prepared to forge alliances on certain issues to secure backing for legislation.
"This is an optimal result which reflects the real situation in the country," Putin, 59, said. "Based on this result we can guarantee stable development of our country."
But there was little to cheer for the man who has dominated Russian politics since he became acting president when Boris Yeltsin quit at the end of 1999 and was elected head of state months later.
His path back to the presidency may now be a little more complicated, with signs growing that voters feel cheated by his decision to swap jobs with Medvedev next year and dismayed by the prospect of more than a decade more of one man at the helm.
COMMUNIST GAINS
The Communists made big gains and officials projections put the left-leaning Just Russia on 64 Duma seats, up from 38, and Vladimir Zhirinovsky's nationalist LDPR on 56, up from 40.
Many of the votes were cast in protest against United Russia rather than in support of communist ideals because the Party is seen by some Russians as the only credible opposition force.
"I voted against United Russia to support some kind of opposition in the country," said Tamara Alexandrovna, a pensioner in Moscow. "I've seen a one-party system and we cannot go back to that."
The other three parties on the ballot, including the liberal Yabloko, fell short of the 5 percent threshold needed to gain even token representation in the Duma.
A prominent party of Kremlin foes led by Putin's first-term prime minister, Mikhail Kasyanov, was barred from the ballot in advance because it was denied registration earlier this year.
Opposition parties complained of election irregularities in several parts of a country spanning 9,000 km (5,600 miles).
The websites of a Western-financed electoral watchdog and at least two liberal media outlets were taken down by hacker attacks that some said were engineered by state authorities to silence allegations of violations.
Police detained at last 150 people protesting in Moscow and St Petersburg on Sunday against Putin's political system and alleged election fraud.
Opposition parties say the election was unfair from the start because of authorities' support for United Russia with cash, influence and television air time. International observers added weight to those claims.
Election preparations "were marked by a convergence of the state and the governing party, limited political competition and a lack of fairness," observers from the Organization for Security and Cooperation in Europe (OSCE) and the Council of Europe's parliamentary assembly said.
The vote count "was characterized by frequent procedural violations and instances of apparent manipulation, including several serious indications of ballot box stuffing," the monitors said in their preliminary report.
"The country has never seen such a dirty election," said Communist Party leader Gennady Zyuganov, who dismissed the official results as "theft on an especially grand scale."
Zyuganov said police had barred Communist monitors from several polling stations and "some ended up in hospital with broken bones". He said some ballot boxes were stuffed before voting began.
Medvedev said alleged violations must be investigated but asserted that there was no major fraud, saying, "All this talk about unrestrained use of administrative influence ... where did this happen?"
He said United Russia's result reflected "exactly" its level of support among Russians -- "no more, no less. And in this sense the election was fair, honest and democratic."
The result is a blow for Medvedev, whose legitimacy to become prime minister in a planned job swap with Putin after the presidential vote could now be in question.
Putin has as yet no serious personal rivals as Russia's leader. He remains the ultimate arbiter between the clans which control the world's biggest energy producer.
Russian stock and currency markets disregarded the election results at Monday's opening, remaining hostage to global financial developments and the performance of companies.
"In our world the big news is that Russian companies are actually paying dividends -- that's more important than a result that wasn't a surprise," said Roland Nash, chief strategist at hedge fund Verno Capital in Moscow.
($1 = 30.8947 Russian roubles)
(Additional reporting by Alexei Anishchuk, Guy Faulconbridge, Thomas Grove and Douglas Busvine, Writing by Steve Gutterman, Editing by Timothy Heritage)
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WASHINGTON ? Real estate giant Donald Trump says former Massachusetts Gov. Mitt Romney "doesn't get the traction" he needs to nail down the Republican presidential nomination.
Trump, who will moderate a GOP candidate debate on Dec. 28, says Romney struggles to stay in front, saying "I don't know what it is."
Trump tells NBC's "Today" accusations that Romney flip-flops on issues are absurd, saying "we all change our minds on things."
He brushed aside decisions by both Ron Paul and Jon Huntsman to stay out of the debate, calling them "joke candidates."
Trump says "a lot of Republicans, top Republicans, asked me to do the debate." And he also says that if he isn't satisfied the GOP is putting up a viable candidate against President Barack Obama, he'd again consider running himself.
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Kevin Usealman is a meteorologist and reporter for NBC25.
Former Flint Mayor Mike Brown unleashed a wave of firings today, many of them in the Mayor's office
Move is likely the first of many
Read?more: Local, News, Politics, Politics, Flint Politics, Emergency Financial Manager, Flint's Emergency Financial Manager, Governor Rick Snyder, Mayor Mike Brown, Mike Brown Financial Manager, Flint Finances, Flint City Hall, Flint City Council, Flint Mayor Dayne WallingFLINT -- Flint's new state-appointed Emergency Financial Manager isn't wasting any time.? Just days into his new job on Friday he fired four top members of Mayor Dayne Walling's staff.? They are City Administrator Greg Eason, Citizen's Service Director Rhoda Woods, and Director of Human Resources Donna Poplar.? Brown also confirms Eason's assistant has been let go along with Flint Ombudsman Brenda Purifoy and the Flint Civil Service Commission's Ed Parker.
Brown also announced today that the salary and benefits of Mayor Walling and the Flint City Council have been suspended.? Brown added that it was a "tough day".?
In a prepared statement shortly after the firings, Walling praised each departing member of his staff individually, and then collectively saying, "It was an honor for them to choose to serve with me through very difficult times and, on behalf of the Flint community, I thank them for their service."
Flint's Emergency Financial Manager was appointed by Governor Rick Snyder.
Comments are the sole responsibility of the person posting them; they are not reflective of the views or opinions of Barrington Broadcasting, NBC25, its directors or employees. If you believe a comment violates the Barrington Terms of Use, please flag it below.Source: http://www.minbcnews.com/news/story.aspx?id=693328
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FILE - In this Friday, June 17, 2011 file image made from video released by Change.org, a Saudi Arabian woman drives a car as part of a campaign to defy Saudi Arabia's ban on women driving, in Riyadh, Saudi Arabia. A Saudi rights activist says a report given to a high-level advisory group claims that women in the kingdom will have options for premarital sex if allowed to drive. (AP Photo/Change.org, File) EDITORIAL USE ONLY, NO SALES
FILE - In this Friday, June 17, 2011 file image made from video released by Change.org, a Saudi Arabian woman drives a car as part of a campaign to defy Saudi Arabia's ban on women driving, in Riyadh, Saudi Arabia. A Saudi rights activist says a report given to a high-level advisory group claims that women in the kingdom will have options for premarital sex if allowed to drive. (AP Photo/Change.org, File) EDITORIAL USE ONLY, NO SALES
RIYADH, Saudi Arabia (AP) ? A report given to a high-level advisory group in Saudi Arabia claims that allowing women in the kingdom to drive could encourage premarital sex, a rights activist said Saturday.
The ultraconservative stance suggests increasing pressure on King Abdullah to retain the kingdom's male-only driving rules despite international criticism.
Rights activist Waleed Abu Alkhair said the document by a well-known academic was sent to the all-male Shura Council, which advises the monarchy. The report by Kamal Subhi claims that allowing women to drive will threaten the country's traditions of virgin brides, he said. The suggestion is that driving will allow greater mixing of genders and could promote sex.
Saudi women have staged several protests defying the driving ban. The king has already promised some reforms, including allowing women to vote in municipal elections in 2015.
There was no official criticism or commentary on the scholar's views, and it was unclear whether they were solicited by the Shura Council or submitted independently. But social media sites were flooded with speculation that Saudi's traditional-minded clerics and others will fight hard against social changes suggested by the 87-year-old Abdullah.
Saudi's ruling family, which oversees Islam's holiest sites, draws its legitimacy from the backing of the kingdom's religious establishment, which follows a strict brand of Islam known as Wahhabism. While Abdullah has pushed for some changes on women's rights, he is cautious not to push too hard against the clerics.
In October, Saudi Arabia named a new heir to the throne, Prince Nayef, who is a former interior minister and considered to hold traditionalist views, although he had led crackdowns against suspected Islamic extremists. His selection appeared to embolden the ultraconservative clerics to challenge any sweeping social reforms.
Prince Nayef was picked following the death of Crown Prince Sultan.
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PARIS ? Francois Lesage, the heir of the legendary Maison Lesage embroidery atelier which has long been embellishing Paris couture houses' most fantastic creations, died Thursday, the house said. He was 82 years old.
In a statement, the house said Lesage died "after a long battle against his illness," without providing any details.
Founded by Lesage's father, Maison Lesage worked for creme de la creme of early 20th-century designers, including Vionnet and Elsa Schiaparelli.
As the number of embroidery ateliers in the French capital dwindled throughout the century, the house of Lesage became the go-to spot for designers looking for exceptional work. Under Lesage's leadership, the house acquired such prestigious clients as Dior, Givenchy, Balenciaga and Christian Lacroix.
Luxury supernova Chanel bought out the atelier in 2002, as part of its bid to ensure the survival of the "petites mains," or artisans ? from embroiders to flower- button- and hat-makers ? the City of Light's top fashion labels rely on.
"Francois Lesage was an immense lover of couture who established embroidery as a true art form and was internationally renowned," the statement quoted Bruno Pavolvsky, president of fashion at Chanel and president of the Maison Lesage, as saying. Both houses "are committed to perpetuating the exceptional know-how that he bequeathed to his embroiders and thus will pay the greatest homage to his talent as an artisan."
The transmission of the craft was a major preoccupation for Lesage himself, and he founded an embroidery school housed inside the atelier ? a mazelike warren of rooms stacked with feathers, sequins, beads and silk in Paris' scruffy 12th district.
About a dozen women work in the atelier ? with reinforcements ahead of Paris fashion week. Simple jobs, like adding flash to a plunging neckline, generally take around 20 hours of work. More complicated pieces, like the iconic trompe-l'oeil leopard skin gown made for Jean Paul Gaultier in 1998, require upward of 500.
Born on March 31, 1929 into a family of embroiders, Lesage once commented that he "never had any doubt as to what I was to do in life, given I was born into a pile of beads and sequins," according to the statement.
After taking over the embroidery studio as a young man, he became an icon of Paris' fashion scene. A debonaire gentleman impeccably turned out in dark suits, Lesage was a frequent front-row guest at the fashion houses for which he worked.
An accomplished equestrian, Lesage was made a chevalier, or knight, in France's prestigious Legion d'Honneur honor society.
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