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Wednesday, May 23, 2012

Verizon says global capabilities coming to select Android handsets this summer

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Tuesday, May 22, 2012

Officials: Syrian rebels kidnap 12 Lebanese

BEIRUT (AP) ? Syrian rebels kidnapped 12 Lebanese Shiites in northern Syria on Tuesday, fueling fears that Lebanon is getting drawn into the chaos next door, security officials said.

The Shiites were on their way home from a religious pilgrimage in Iran when rebels intercepted their vehicles in Syria's Aleppo province and abducted the men, Hezbollah's Manar TV station said. The women were in a "safe place," Manar reported, without elaborating.

Lebanese security officials confirmed the kidnapping.

Some Lebanese took to the streets of Beirut's southern sector, a Shiite area, and burned tires to protest the abductions. The leader of Hezbollah, Lebanon's powerful Shiite militant group and a strong ally of Syria, appealed for calm and warned his followers against revenge attacks targeting Syrians.

"This is strictly prohibited," Sheik Hassan Nasrallah said in a televised speech.

He urged protesters not to block the roads and he said the Lebanese government must press for the pilgrims' release.

"We will work day and night until these beloved people are with us," Nasrallah said.

Hezbollah has stood by the Syrian President Bashar Assad as he struggles to put down a 15-month-old uprising. Sunnis form the backbone of the uprising, which has unleashed boiling sectarian tensions.

Assad and the ruling elite in Syria belong to the tiny Alawite sect, an offshoot of Shiism.

Tuesday's kidnappings come at a time of deep tension in Lebanon over the conflict in Syria. The countries share a complex web of political and sectarian ties and rivalries, which can quickly turn violent.

The conflict already has spilled across the border, with deadly results.

Lebanese Sunni groups supporting and opposing the Damascus regime fired rocket-propelled grenades and machine guns in the Lebanese capital early Monday, killing at least two people. It was the most serious outbreak of violence in Beirut since the uprising began next door.

The spark for the violence was the killing Sunday of Sheik Ahmed Abdul-Wahid, an anti-Syrian Sunni cleric, and his bodyguard in northern Lebanon. A Lebanese soldier shot the men, apparently after they failed to stop at an army checkpoint. The killing fueled deep anger over the perceived support of some of Lebanon's security forces for the Syrian regime.

Syria had troops on the ground in Lebanon for nearly 30 years until 2005 and still has strong ties to Lebanon's security services.

Earlier this month, the arrest of Shadi Mawlawi, an outspoken Lebanese critic of Assad, set off several days of clashes in northern Lebanon that killed eight people. Mawlawi was accused of belonging to a terrorist group.

On Tuesday, authorities released him from jail on $330 bail, a move many hoped would defuse tensions. During a news conference in the northern Lebanese city of Tripoli, Mawlawi said he was "subjected to psychological pressure and torture" following his May 12 arrest and was forced to give false confessions that he was connected to terror groups.

Mawlawi denies any links to such groups.

As he spoke, supporters at the news conference lashed out at the Syrian regime, saying, "Assad is the enemy of God."

There is an array of die-hard pro-Syrian parties and politicians in Lebanon, as well as support for the regime at street level.

But there is an equally deep hatred of Assad among other Lebanese, who fear Damascus is still calling the shots in their country.

The tensions can be traced in part to Syria's virtual rule over Lebanon from 1976 to 2005, when Syrian troops were driven out.

During the time of Syrian dominance, Lebanese leaders used to travel frequently to Damascus to get marching orders.

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Re-Financing-With-A-Line-Of-Credit-Loan | TravelBuddies.us ...

Re-Financing with a Line of Credit Loan

Some homeowners might consider re-financing with a home equity line of credit as opposed to a traditional loan. There are definite advantages and disadvantages to these types of situations. The key to understanding whether or not re-financing with a home equity line of credit is worthwhile involves understanding what a home equity line of credit is, how it differs from a home loan and how it can be used. This article will briefly cover each of these topics to give the homeowner some useful information which may help them decide whether or not a home equity line of credit is ideal in their re-financing situation.

What is a Home Equity Line of Credit?

A home equity line of credit, sometimes called a HELOC, is essentially a loan in which funds are made available to the homeowner based on the existing equity in the home. However, in this case, it is not really a loan but rather a line of credit. This means a certain amount of money is made available to the homeowner and the homeowner may draw on this line of credit as funds are needed. There is a specified period in which the homeowner is able to make these withdrawals. This is known as the draw period. Additionally there is a repayment period in which the homeowner must repay all of the funds they withdrew from the account during the draw period.

How Does a Home Equity Line of Credit Differ from a Home Equity Loan?

The difference between a home equity line of credit and a home equity loan is really quite simple. While both loans are secured based on the existing equity in the home, the manner in which the funds are disbursed to the homeowner is rather quite different. In a home equity loan the homeowner is given all of the funds immediately. However in a home equity line of credit the funds are made available to the homeowner but are not immediately disbursed. The homeowner is able to draw against this line of credit as he sees fit. There are limits to the amount which can be withdrawn and there is also a limit on when funds can be withdrawn. A home equity has a draw period and a repayment period. Funds can be withdrawn during the draw period but must be repaid during the repayment period.

How Can a Home Equity Line of Credit Be Used?

One of the biggest advantages of a home equity line of credit is that the funds can be used for any purpose specified by the homeowner. While other loans such as an auto loan or even a traditional mortgage might have strict restrictions on how the money lent to the homeowner can be used, there are no such restrictions on a home equity line of credit. Common uses of a home equity line of credit include the following:

* Home renovations or improvement projects
* Opening a small business
* Taking a dream vacation
* Pursuing higher educational goals
* Opening a small business

In some cases the interest paid on a home equity line of credit may be considered tax deductible. This may apply in situations where the funds are used to make repairs or improvements to the home. However, these expenses are not always tax deductible and the homeowner should consult with a tax professional before making decisions regarding which interest payments can be deducted.

This entry was posted in Finance Tips and tagged credit, draw, equity, financing, funds, home, homeowner, line, loan, period, situation. Bookmark the permalink.

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Romney faced leadership test in Big Dig tragedy (The Arizona Republic)

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Monday, May 21, 2012

Iran MPs urge respect of 'rights' in nuclear talks

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Thousands gather for Lebanese Sunni cleric funeral

BIREH, Lebanon (AP) ? Mourners fired guns in the air as thousands poured into the streets Monday in a northern Lebanese town for the funeral of a Sunni Muslim cleric whose killing sparked intense clashes in Beirut and raised fears the crisis in Syria was spilling across the border.

The Beirut street battles overnight killed at least two people and wounded 15, and were the most serious clashes in the capital in four years. The streets were calmer by Monday morning but some shops remained closed and many parents kept children home from school.

The violence in Beirut's predominantly Sunni neighborhood of Tariq Jadidah erupted hours after Sheik Ahmed Abdul-Wahid and his bodyguard were shot dead at a checkpoint in northern Lebanon. Abdul-Wahid was an anti-Syrian cleric.

Authorities braced for the possibility of more violence Monday in the north, where Abdul-Wahid was to be buried. Gunmen carrying automatic rifles shouted for the downfall of the Syrian regime in the cleric's hometown of Bireh.

The fighting underscores how the bloodshed in Syria, where President Bashar Assad's regime is cracking down on an uprising against his rule, can fuel violence across the border in Lebanon.

Lebanon has a fragile political faultline precisely over the issue of Syria.

There is an array of die-hard pro-Syrian Lebanese parties and politicians, as well as support for the regime on the street level. There is an equally deep hatred of Assad among other Lebanese who fear Damascus is still calling the shots here. The two sides are the legacy of Syria's virtual rule over Lebanon from 1976 to 2005 and its continued influence since.

Thousands poured into a square outside a mosque in Bireh to take part in the funeral. The cleric's coffin, which was brought to his home, was covered with a Lebanese flag and a flag used by Syrian rebels.

"Oh cleric, we want revenge against Nasrallah and Bashar," screamed the men who carried the coffin. The leader of Lebanon's Hezbollah militant group, Sheik Hassan Nasrallah, is a strong ally of Syria.

Earlier, gunmen shouted "Down with Bashar!" and said the Syrian leader was trying to "transfer the crisis to Lebanon." Scores of men opened fire with their rifles in the air as a sign of mourning.

Most businesses and schools were closed in the predominantly Sunni northern Lebanon after local officials called for a general strike to protest the cleric's killing.

The circumstances surrounding Sunday's shooting death of the Abdul-Wahid remained unclear but the state-run National News Agency said the cleric and his bodyguard appeared to have been killed by soldiers after their convoy failed to stop at an army checkpoint.

The Lebanese army on Sunday issued a statement, saying it deeply regretted the incident and that a committee will investigate.

Amid fears the situation might deteriorate, four Gulf countries ? Kuwait, Qatar, Bahrain and United Arab Emirates ? have warned their citizens against travel to Lebanon.

Lebanon and Syria share a complex web of political and sectarian ties and rivalries, which can easily turn violent. Last week, clashes sparked by the Syrian crisis killed at least eight people and wounded dozens in the northern city of Tripoli.

The revolt in Syria began 15 months ago, and there are fears the unrest will lead to a regional conflagration that could draw in neighboring countries. The U.N. estimates the conflict has killed more than 9,000 people since March 2011.

Syrian activists said regime forces killed dozens of people during a raid Sunday on the central town of Soran in Hama province, security officials said.

One activist group, the Britain-based Syrian Observatory for Human Rights, put the death toll at 39, citing a network of sources on the ground. Syria-based activist Mustafa Osso said the figure was more than 20.

The death toll could not be independently confirmed.

Syria's state media reported that four soldiers were killed Sunday in the Hama province during clashes with gunmen.

A video posted online by activists showed the bodies of five people said to be of the same family who were killed during the shelling of Soran.

Syria is a geographical linchpin in the Middle East, raising the possibility that the crisis there will bleed into other countries.

The clashes in Beirut subsided around 4 a.m. Monday after anti-Syrian gunmen took control of the headquarters of the pro-Syrian Arab Movement Party.

The fighting was among the most intense fighting in Beirut since May 2008, when gunmen from the Shiite Hezbollah militant group swept through Sunni neighborhoods after the pro-Western government tried to dismantle the group's telecommunications network. At the time, more than 80 people were killed in the violence, pushing Lebanon to the brink of civil war.

Also Monday, Syria's state-run news agency SANA, said Assad issued a presidential decree calling on the country's newly elected parliament to hold its first meeting on Thursday. A parliament speaker is usually elected on the first meeting of a new parliament.

Assad has pointed to the parliamentary elections earlier this month as a sign of his long-promised reforms, but the opposition dismissed the vote as a sham meant to preserve his autocratic rule.

As the violence intensified, there are growing fears that al-Qaida or other extremists could be entering the fray. In a statement posted on a militant web site late Sunday, a group calling itself the Al-Nusra Front claimed responsibility for a suicide car bomb attack in the parking lot of a Syrian military compound in the eastern city of Deir el-Zour.

Saturday's attack, the latest in increasingly frequent bombings in major Syrian cities to target the regime's security services, killed at least nine people and wounded dozens.

Little is known about the group although Western intelligence officials say it could be a front for a branch of al-Qaida militants from Iraq operating in Syria. The group claimed responsibility for several other suicide attacks in Syria.

____

Mroue reported from Beirut.

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Facebook shares sink 11 percent as reality overtakes hype

(Reuters) - Facebook shares sank 11 percent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday and driving others to switch back to more established stocks.

Facebook's debut was beset by problems, so much so that Nasdaq said on Monday it was changing its IPO procedures. That may comfort companies considering a listing, but does it little for Facebook, whose lead underwriter, Morgan Stanley, had to step in and defend the $38 offering price on the open market.

Even so, one source said Morgan Stanley's own brokers were at one point "ranting and raving" about glitches that left unclear what trades had actually been executed.

Without a fresh round of defense, Facebook shares ended down $4.20, at $34.03, on the Nasdaq. That was a decline of almost 25 percent from Friday's intra-day high of $45 a share.

"At the moment it's not living up to the hype," said Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago, adding that some people may have decided to hang back and buy the stock on the decline.

"Look at the valuation on it. It might have said 'buy' to a few people, but boy it was awfully rich," he said.

The drop in Facebook's share price wiped more than $11 billion off of the company's market capitalization -- it became a sufficiently interesting pop culture story that even gossip website TMZ did a brief item Monday morning.

Volume was again massive on Monday, with nearly 168 million shares trading hands, making it by far the most active stock on the U.S. market. Nearly 581 million shares were traded on Friday.

The drop was so steep that circuit breakers kicked in a few minutes after the open to restrict short sales of the stock, according to a notice from Nasdaq.

EMOTIONAL TRADING

"One of the things that we are seeing in Facebook is a lot of emotional trading, in that over the weekend much of the media coverage was negative, and that could be weighing on investors' decisions to get out of the stock," said JJ Kinahan, TD Ameritrade's chief derivatives strategist.

Shares of other one-time Internet darlings fell in lock step with Facebook before rebounding on their own merits, with Yelp and Groupon rising. Zynga and LinkedIn fell, though.

The news was not all bad, though, as the Nasdaq rose 2.46 percent. High-profile tech stocks rose sharply, with Apple up 5.8 percent and Amazon 2 percent higher.

FuturePath's Lesh said some investors took money out of Apple to buy Facebook, and now could be going right back in to Apple given the lackluster performance of Facebook thus far.

By mid-afternoon on Monday, though, there were indications that investors might be coming back in to Facebook. The stock was well off the lows of the morning, and some market players saw an entry point forming.

"We see 38 percent of the ideas on Facebook are short and 62 percent have a more long bias," said Tim Murphy, general manager for the Americas at TIM Group, which transmits and tracks equity trade ideas from 750 brokerage firms for institutional investors globally. "Brokers are saying to their clients there is a good opportunity here."

NASDAQ CHANGES

Still there was a long list of questions -- ranging from whether the underwriters priced the shares too high to how well prepared the Nasdaq was to handle the biggest Internet IPO ever -- and few easy answers.

"It was just a poorly done deal and it just so happens to be the biggest deal ever for Nasdaq and they pooched it; that's the bottom line here," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.

Nasdaq said Monday morning the changes it was making would prevent a repeat of what happened Friday, when glitches prevented some traders from knowing for hours whether their trades had been completed.

The exchange also said it would implement procedures to accommodate orders that were not properly executed last week, which could ultimately lead to compensation for some investors.

"It doesn't instill confidence for clients. Talk about trying to convince them it isn't a casino," one Midwestern financial adviser told Reuters on Monday.

Separately, a source said Morgan Stanley's brokerage arm still had a "large number" of share orders from Friday that were not confirmed, which it was working to resolve.

A Facebook spokeswoman declined to comment on the share price issue.

Some financial advisers, who might have been furious last week at getting left out, were counting themselves lucky by Monday that they did not get their clients involved.

"By pure luck I failed to talk it up with a lot of clients because I didn't think I would be able to get much," said one Raymond James adviser, who sought, and received, only 500 shares for one client.

"I basically told people they weren't going to get any, and luckily, it proved to be a bust," the adviser said.

(Additional reporting by Jennifer Saba, David Gaffen, Edward Krudy, Ashley Lau and Rodrigo Campos in New York, Doris Frankel in Chicago and Jennifer Merritt in Orlando, Florida; Writing by Ben Berkowitz in Boston; Editing by Edward Tobin, Maureen Bavdek and Steve Orlofsky)

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