Tuesday, September 13, 2011

Berkshire names Weschler to stock portfolio post

(AP) ? Warren Buffett's investment company on Monday named hedge fund manager Ted Weschler to oversee a portion of its stock portfolio, alongside another hedge fund manager appointed last fall. Both are potential successors to the legendary 81-year-old investor.

Weschler will join Berkshire Hathaway early next year. The 50-year-old has announced to the partners of his hedge fund, Peninsula Capital Advisors, that he will begin winding up the fund so he can join Berkshire.

Weschler founded Peninsula Capital in 1999, and is a managing partner of the firm, based in Charlottesville, Va. The hedge fund makes investments in publicly-traded companies.

His appointment comes after Berkshire Hathaway last fall named Todd Combs to help run a segment of Berkshire's stock holdings. Weschler also will run a segment.

Buffett, 81, will continue to manage most of Berkshire Hathaway's funds until his retirement. He is the company's chairman and CEO, and his retirement date hasn't been announced.

Weschler's appointment expands the list of internal candidates for the top job.

"With Todd and Ted on board, Berkshire is well-positioned for successor investment management at the time Mr. Buffett is no longer CEO," the company said.

Monday's announcement said that Combs and Weschler will have responsibility for Berkshire's entire equity and debt portfolio, after Buffett no longer serves as CEO. The announcement said that they could be aided by one additional manager, and their management of the entire portfolio would be subject to the direction of the CEO at that time, as well as the company's board.

In February, Berkshire Hathaway disclosed in a regulatory filing that the pool of internal candidates to replace Buffett had been expanded to four. Prior to that disclosure, Buffett had said for several years that his Omaha-based company had three internal candidates, but he has refused to name them.

In addition to helping run Peninsula Capital, Weschler is a director of WSFS Financial Corp. In 1989, he was a founding partner of Quad-C, a private equity firm. Before that, he spent six years with W.R. Grace & Co. in several positions.

He received his bachelor's degree in economics from The Wharton School of the University of Pennsylvania.

Before joining Berkshire Hathaway, Combs managed the Castle Point Capital hedge fund for five years.

Class B shares of Berkshire Hathaway stock rose 28 cents in morning trading to $68.05.

Besides investments, Berkshire owns clothing, insurance, furniture, utility, natural gas pipeline, brick, railroad, carpet, jewelry and corporate jet companies.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2011-09-12-US-Berkshire-Hathaway-Manager/id-64d0dd8125c14aa7b6643574cfac2bf1

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In Russia, UK's Cameron seeks trade and new ties

Russian Prime Minister Vladimir Putin, front, visits Russian Armament Exhibition in the Urals city of Nizhniy Tagil on Friday, Sept. 9, 2011. (AP photo/ RIA Novosti, Alexei Druzhinin, pool)

Russian Prime Minister Vladimir Putin, front, visits Russian Armament Exhibition in the Urals city of Nizhniy Tagil on Friday, Sept. 9, 2011. (AP photo/ RIA Novosti, Alexei Druzhinin, pool)

(AP) ? British Prime Minister David Cameron arrived in Russia for a rare visit Sunday, seeking to secure crucial new trade and warmer ties with an often difficult ally, five years after the poisoning death of a Kremlin critic in London exposed bitter differences.

Cameron was making the first visit to Russia's capital by a British leader in six years, and will hold the first talks by any British official with Prime Minister Vladimir Putin in more than four years ? hoping to revive relations before the ex-president's possible return to power in a 2012 election.

Accompanied by Foreign Secretary William Hague and business executives, including oil company BP's chief executive Bob Dudley and Royal Dutch Shell CEO Peter Voser, Cameron will attempt on the two-day visit to increase trade with another awkward partner after similar trips to India and China.

Cameron wants to kick-start Britain's stagnant economy by targeting emerging markets, but the policy has caused concern among those who fear it may lead the U.K. to overlook the human rights records of new allies.

Ahead of the visit, Russia's Embassy in London said its website was brought down in an apparent cyberattack.

Ties between Britain and Russia soured over the 2006 poisoning death of dissident ex-Russian security agent Alexander Litvinenko in London. On his deathbed, Litvinenko accused Putin of authorizing his killing.

Russia has repeatedly refused British requests for the extradition of the chief suspect in the case, ex-KGB agent Andrei Lugovoi.

British government officials acknowledged Cameron would raise the issue, but said the leader's visit would be focused on businesses opportunities ? knowing there is little prospect of progress on the Litvinenko case.

Litvinenko's friend Alex Goldfarb said the dissident's widow and associates were disappointed that Cameron had agreed to meet with Putin.

Putin's last contact with any British official was a brief phone call in June 2007 to congratulate Cameron's predecessor Gordon Brown on his appointment. Cameron has met four times with Russia's President Dmitry Medvedev.

The last visit by a British leader to Russia was Tony Blair's trip to attend a G8 summit in St. Petersburg in 2006. Blair also held meetings in Moscow in 2005.

"It is understandable that there is need for trade and better international relations, but Mr. Putin has blood on his hands," Goldfarb said. "The meeting is a change of policy, and is an endorsement of Mr. Putin, it is very disappointing."

In a joint letter to Britain's Sunday Times newspaper, four former foreign secretaries called on Cameron to press Russian leaders over Litvinenko and on the regime's hostility toward businessmen and journalists, including jailed oil tycoon Mikhail Khodorkovsky.

Last month, BP complained that a Moscow office had been illegally raided after Russian bailiffs accompanied by armed policemen searched its premises in connection with a lawsuit.

Russian officials plan to press Cameron to resume intelligence cooperation, after Britain halted work with security agencies in response to Litvinenko's death.

"We believe that this is in the interests of both countries and in the interests of all countries in the world," Russia's ambassador in London Alexander Yakovenko said.

Yakovenko acknowledged that Britain had shown no indication that it planned to change its stance. "Everything is in the hands of the British side. We are ready," he said.

Jonathan Evans, the head of Britain's domestic intelligence agency MI5, told a committee of lawmakers in a private evidence session last year that Russia and China posed a significant espionage threat in the U.K.

A Russian diplomat was expelled from London in December and accused of spying, while the Russian aide of a lawmaker has been questioned over espionage allegations and faces possible deportation.

Yakovenko warned Cameron that he is unlikely to succeed in pressing Moscow to support a tougher stance on Syria at the United Nations Security Council.

Cameron, who will hold talks Monday with Medvedev and Putin, hopes to encourage trade for British financial and legal services companies, and was joined by representatives from leading law firms.

Trade between the two nations increased by 49.1 percent in the first six months of this year, compared to January-June of 2010, to $10.3 billion. There was an 80.3 percent rise in British exports to Russia, to $3.1 billion, and a 38.7 percent rise in Russian exports to Britain.

Dudley was likely to use the visit to smooth relations between BP and Russia following the collapse earlier this year of a planned Arctic oil deal with state-owned energy company Rosneft ? an agreement that had been seen as critical to the company's recovery from the Gulf of Mexico spill.

Rosneft last month agreed a partnership with U.S. company Exxon Mobil to develop offshore oil fields in the Russian Arctic, one of the world's last regions with major untapped hydrocarbon deposits. In return, Rosneft has the option to acquire parts of oil projects in Texas and the Gulf of Mexico.

___

Lynn Berry in Moscow contributed to this report

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2011-09-11-EU-Britain-Russia/id-9acd4b1049084b0baa5ffc622c2666bd

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Raina Wallens: The Tenth Anniversary of September 11th: Round Numbers Don't Mean Anything (Huffington post)

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Monday, September 12, 2011

Libyan teachers get ready for education overhaul

Teachers at Nemuthajia Elementary School in Benghazi, Libya, will return Sept. 17 for the first day of classes in a new Libya. It will be the first time in 42 years they can teach the truth, they say.

Benghazi, Libya

At a small elementary school here in Libya?s second-largest city, dozens of teachers are preparing for the first day of classes since the fighting started in February and abruptly forced all schools to close.

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They gather in sunny but spare classrooms surrounding a bare courtyard with peach walls. According to a sign above the entrance, this is Maarakat El Karama Elementary School. But the teachers shake their heads at mention of the name. It was bestowed on the school after the 1969 coup led by Muammar Qaddafi, who became Libya?s leader for the next 42 years before being ousted by this year?s revolution. The teachers have decided to return to the original name of the school, El Nemuthajia. It means ?exemplary.?

But the school?s name isn?t the only thing that will change when students come back on Sept. 17. ?Next week, for the first time in 40 years, the teachers will begin teaching the truth,? says Zakia Abdel Nabi, an elderly Arabic language teacher.

Getting rid of Qaddafi propaganda that fills the textbooks is just one of the tasks ahead as Libya faces the enormous challenge ? and opportunity ? of rebuilding an education system that was systematically eroded for four decades. Libya?s new leaders must also work to transform a system that sought to instill the regime?s ideology in unquestioning students into one that encourages dissenting opinions, critical thinking, and dialogue. Doing so, say education experts, will be key to building a strong and democratic Libya.

?If education doesn?t change, nothing else will change,? says Hana El Gallal, a law professor at Benghazi University and rights activist. ?This is for me the biggest challenge and the biggest fight ahead.?

And there is much work to be done. Teachers receive dismal salaries, and little, if any, training. Corporal punishment for students is rife. Officials say that new school construction has been mostly nonexistent for 20 years while the population grew, leading to overcrowding. (Making matters worse, during the revolution hundreds of school buildings across the country were damaged or mined, looted, or used as makeshift munitions storage depots, prisons, or housing for refugees.)

And while teaching standards were low, 9th and 12th grade exams were purposefully made so difficult that only 30 percent of the students would pass and go on to secondary and higher education. That left 70 percent of them to drop out of school altogether or go to technical training, says Wafa Bugaighis, an official with the transitional leadership?s Ministry of Education who helped develop the ministry?s plan for getting education back on track.

?There was a systematic destruction of the education sector,? she says. ?There has been no training, no investment, no upgrading.?

Textbooks were infused with Qaddafi regime ideals to train obedient citizens. The most blatant was a subject called ?The People?s Society," in which students studied, among other things, Qaddafi?s Green Book laying out his political philosophy. But his propaganda was also woven into history textbooks, which teachers say almost totally omitted mention of the monarchy that Qaddafi?s coup overthrew.

?A huge period was missing? from the history books, says history teacher Abdel Salam El Imami. "I didn't know who tried to unite all of Libya after colonization ? it was the monarchy." But under Qaddafi, he couldn't teach that to students. In Arabic language lessons, the text to be studied often contained stories about the leader.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/TgOQZ2U-XOw/Libyan-teachers-get-ready-for-education-overhaul

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Sunday, September 11, 2011

Enjoying A Central Florida Vacation: Top Reasons Why It's Summer ...

Even after summer vacation is over and the kids are back in school, there's no reason not to enjoy a Central Florida vacation. With temperatures that remain warm throughout autumn, families can easily enjoy summer-quality vacations, even after the calendar changes into the fall.

Watersports On A Central Florida Vacation

The area boasts a wide range of family friendly water sports, including thrilling airboat rides, water skiing, Florida fishing and more. Families can take an airboat ride to see a number of different local animals, such as alligators, wild hogs, turkeys, bobcats, raccoons, deer and more. There are a number of different companies that provide airboat rides, including Camp Mack's River Resort, Alligator Cove Excursions, Mild To Wild Airboat & Nature Tours, Captain Fred's Airboat Nature Tours and Grape Hammock Fish Camp.

If your kids are hoping to catch a glimpse of a certain animal, let the company know before you book. These professional guides are well-versed in the animals of their region and might have an idea of the best place to see each species.

Water skiing and wakeboarding are also popular vacation sports for adventure seeking kids. Whether you're a beginner or an expert, local instructors can help you take to the water and achieve your goals. Popular local companies are Fluid Ski & Sports, World Barefoot Center, Barefoot Etc., and Ron Scarpa's Watersports. Families can also visit the AWSEF Water Ski Hall of Fame to learn more about this sport.

If Florida fishing is more your family's style, you're in luck. If you're new to fishing, there are a number of Florida fishing guides who can help you make the most of your catch of the day.

One popular species is the large mouth bass and there are over 550 lakes to explore in the region. If you're looking for a guide, consider the Southern Outdoorsman Guide Service, Central Florida Bucketmouths, Memory Makin' Guides, Natural High Adventures or Ray Frenette Pro Guide Service. Remember that adults and teens 16 and older will need a Florida fishing license before trying to catch that record breaking fish (kids under 16 do not require a license). Your guide can help you purchase this, so make sure to ask before you take to the water.

More Than Water

These vacations offer more than just watersports, however. If the kids are interested in everything from airplanes to rodeos, you're in luck. Fantasy of Flight offers hot air balloon rides and biplane rides, while Westgate River Ranch Resort gives families the complete dude ranch experience. At Westgate River Ranch, kids and parents can experience everything from horseback riding, trap and skeet shooting, go on nature walks and hayrides, enjoy cookouts and more. It's a unique 'Western-style' experience not found elsewhere, which is why it is often the highlight of a Central Florida vacation.

Where To Stay

While the region boasts a number of chain hotels, a family isn't limited to a hotel during their stay. Local vacation homes, bed and breakfasts and even RV parks all provide families with one of a kind lodging. Guests looking for holiday homes and resorts can choose from Bahama Bay Resort, Regal Palms Resort, Sunsplash Vacation Homes or Contempo Vacation Homes. RV parks in the area include the Orlando SW/Fort Summit KOA, Themeworld RV or Deer Creek RV Golf Resort. For a more personal experience, choose to stay in the Town Manor on the Lake Bed and Breakfast, the Stanford Inn or Chalet Suzanne Country Inn & Restaurant.

Just For Mom And Dad

Mom and dad deserve some down time on their vacations as well. Dad can spend the day on one of the area's many golf courses, while mom finds unique treasures antique shopping. Afterwards, the entire family can enjoy the peaceful atmosphere found at Bok Tower Gardens.

A Central Florida vacation has it all, even after the summer is over. If you're considering a one of a kind trip your family will remember for years to come, consider a Central Florida vacation. Your family will likely ask to come back year after year, especially once LEGOLAND? Florida opens on October 15, 2011. Regardless of the time of year you visit, you're sure to have a memorable vacation packed with fun activities for the entire family.

Source: http://travel.ezinemark.com/enjoying-a-central-florida-vacation-top-reasons-why-it-039-s-summer-vacation-all-year-round-18566b65313.html

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Saturday, September 10, 2011

No, phone app can't cure acne, FTC says

When I was a teenager, if you had pimples you bought a tube of Clearasil. Now there are apps for that. ?AcneApp? and ?Acne Pwner? claimed to use the light given off from a smart phone to treat acne.

Today, the companies marketing these two apps settled charges brought by the Federal Trade Commission that they were making ?baseless? health claims.

?The commission alleges that these two companies were making claims about treating acne and they did not have the proper substantiation or science to support those claims,? says FTC attorney Stacey Ferguson.

Neither company admits doing anything illegal, but they did agree in court documents to stop making health claims that are not based on ?competent and reliable scientific evidence.? That effectively stops them from selling these products. Both companies also agreed to forfeit the money they made.

According to the FTC complaint, there were approximately 11,600 downloads of AcneApp from the iTunes store at $1.99 each. Acne Pwner sold about 3,300 downloads for $ .99 each in the Android Marketplace.

Both of these apps do basically the same thing: they make the screen on the mobile device turn blue and red, alternating colors every few seconds. The blue light supposedly fights bacteria. The red light supposedly helps heal the skin.

Users are instructed to activate the app and hold the screen next to the area of skin to be treated for a few minutes each day. You could even do it while talking on the phone, the ultimate in convenience.

The ads for Acne Pwner proclaimed: ?Kill ACNE with this simple, yet powerful tool! Light exposure has long been used as a short term treatment for acne. Recently visible light has been successfully employed to treat mild to moderate acne.?

AcneApp was created by Dr. Greg Pearson, a dermatologist in Houston. The web site for his application promised: ?Acne therapy without risky medication.? And it featured glowing reviews, such as:

  • ?This is the best money I have ever spent it works amazing for me already seeing the difference in 2 days.?
  • ?I will have to say that I was skeptical at first but am amazed by the results of really dedicating time to this.?
  • ?Maybe the best app I?ve bought!?

The advertising for AcneApp cited a study published in the British Journal of Dermatology that it says showed ?blue and red light treatments eliminated p-acne bacteria (a major cause of acne) and reduces skin blemishes by 76 percent.?

FTC attorney James Prunty says that British study ?does not prove that blue and red light therapy, such as that delivered by AcneApp, is effective at treating acne.? That?s why the FTC complaint charges DermApps (the Houston company selling the product) with false advertising.

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Some dermatologists do use red and blue light therapy to treat acne. But in a doctor?s office the light is thousands of times stronger than what could ever be given off by a smart phone.

This is the first time the Federal trade Commission has targeted health claims in the mobile application marketplace. You can expect more cases in the future. I?m told the commission is already investigating other companies selling apps that claim to treat acne.

?The commission wants anyone out there who is making health claims with apps to know that the same rules apply to that marketplace as any other,? Prunty says. ?You can?t make a claim unless you have a reasonable basis to make that claim.?

Read more
FTC: Acne Cure Mobile App Marketers Will Drop Baseless Claims Under FTC Settlements
Mayo Clinic: Acne Treatments: Emerging therapies for clearer skin

? 2011 msnbc.com.? Reprints

Source: http://www.msnbc.msn.com/id/44440180/ns/business-consumer_news/

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Friday's Endnotes ? 09/09/11 - Legal News Directory

The 2011 Music-Sales Boost, By the Numbers ? Billboard reports some good news: music sales are up in 2011. Nielsen presented the numbers at a NARM-sponsored webinar and looked at possible causes. One of them: the shutdown of LimeWire late last year. "The spike in sales was immediate, noticeable and lasting." Great Digital Expectations ? The Economist surveys the rapidly-changing publishing industry. This year, for the first time, e-book sales overtook adult hardcover sales. And shuttering physical book stores ? long the primary promotional channel for publishers ? cast a gloom over the industry. Visual Cues Impact Judgment of Piano Performances ? Very interesting article about recent research that shows that what we see effects what we hear. "Despite the fact the soundtracks were identical, 'Nearly all participants identified differences between the pairs of video recordings,' the researchers report. Duplicating the results of the 1990 study, the 'performances' by the male pianists were perceived as more precise, while the female pianist's 'performance' of Chopin was judged as more dramatic." Tunes on the Tube, What Does it all Mean? ? "Have you noticed how much more music is on television today?" asks the RIAA's Mitch Glazier. From shows like The Voice, Glee, and Dancing With the Stars to the record-high ratings for music award shows, the common theme seems to be "fans' healthy appetite for music discovery and their desire to be blown away by a voice, a song, a talent." Copyright law puts brakes on Internet traffic ? After New Zealand's recent graduated response laws went into effect, ISPs have reported that international P2P traffic has dropped by as much as 10% before a single warning notice had even been sent. Tech Execs Should Read the PROTECT IP Act Before Attacking It ? The MPAA responds to yesterday's letter from tech company bosses opposing the PROTECT IP Act. It notes specifically that the definition of infringing sites is anything but "vague" and the "burdens for smaller tech companies" are largely imaginary. Still a Long Way to Go for Anti-Counterfeiting Trade Agreement ? The ACTA largely dropped from the news once negotiations wrapped up last year, but it is open for signature until May 2013. IP Watch takes a look at where that process is at and some of the issues that have cropped up. In the Courts To the extent that Perfect 10 can be read to stand for the proposition that inline linking can never cause a display of images or videos that would give rise to a claim of direct copyright infringement, we respectfully disagree. In our view, a website's servers need not actually store a copy of a work in order to "display" it. The fact that the majority of the videos displayed on myVidster reside on a third-party server does not mean that myVidster users are not causing a "display" to be made by bookmarking those videos. The display of a video on myVidster can be initiated by going to a myVidster URL and clicking "play"; that is the point of bookmarking videos on myVidster-a user can navigate to a collection of myVidster videos and does not have to go to each separate source site to view them. FLAVA WORKS, INC. v. Gunter, No. 10 C 6517, Memorandum Order (N.D.Illinois September 1, 2011) Friday's Endnotes ? 09/09/11 was originally posted on Copyhype

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