Armstrong admits doping: 'I'm a flawed character'


CHICAGO (AP) — He did it. He finally admitted it. Lance Armstrong doped.


He was light on the details and didn't name names. He mused that he might not have been caught if not for his comeback in 2009. And he was certain his "fate was sealed" when longtime friend, training partner and trusted lieutenant George Hincapie, who was along for the ride on all seven of Armstrong's Tour de France wins from 1999-2005, was forced to give him up to anti-doping authorities.


But right from the start and more than two dozen times during the first of a two-part interview Thursday night with Oprah Winfrey on her OWN network, the disgraced former cycling champion acknowledged what he had lied about repeatedly for years, and what had been one of the worst-kept secrets for the better part of a week: He was the ringleader of an elaborate doping scheme on a U.S. Postal Service team that swept him to the top of the podium at the Tour de France time after time.


"I'm a flawed character," he said.


Did it feel wrong?


"No," Armstrong replied. "Scary."


"Did you feel bad about it?" Winfrey pressed him.


"No," he said. "Even scarier."


"Did you feel in any way that you were cheating?"


"No," Armstrong paused. "Scariest."


"I went and looked up the definition of cheat," he added a moment later. "And the definition is to gain an advantage on a rival or foe. I didn't view it that way. I viewed it as a level playing field."


Wearing a blue blazer and open-neck shirt, Armstrong was direct and matter-of-fact, neither pained nor defensive. He looked straight ahead. There were no tears and very few laughs.


He dodged few questions and refused to implicate anyone else, even as he said it was humanly impossible to win seven straight Tours without doping.


"I'm not comfortable talking about other people," Armstrong said. "I don't want to accuse anybody."


Whether his televised confession will help or hurt Armstrong's bruised reputation and his already-tenuous defense in at least two pending lawsuits, and possibly a third, remains to be seen. Either way, a story that seemed too good to be true — cancer survivor returns to win one of sport's most grueling events seven times in a row — was revealed to be just that.


"This story was so perfect for so long. It's this myth, this perfect story, and it wasn't true," he said.


Winfrey got right to the point when the interview began, asking for yes-or-no answers to five questions.


Did Armstrong take banned substances? "Yes."


Did that include the blood-booster EPO? "Yes."


Did he do blood doping and use transfusions? "Yes."


Did he use testosterone, cortisone and human growth hormone? "Yes."


Did he take banned substances or blood dope in all his Tour wins? "Yes."


In his climb to the top, Armstrong cast aside teammates who questioned his tactics, yet swore he raced clean and tried to silence anyone who said otherwise. Ruthless and rich enough to settle any score, no place seemed beyond his reach — courtrooms, the court of public opinion, even along the roads of his sport's most prestigious race.


That relentless pursuit was one of the things that Armstrong said he regretted most.


"I deserve this," he said twice.


"It's a major flaw, and it's a guy who expected to get whatever he wanted and to control every outcome. And it's inexcusable. And when I say there are people who will hear this and never forgive me, I understand that. I do. ...


"That defiance, that attitude, that arrogance, you cannot deny it."


Armstrong said he started doping in mid-1990s but didn't when he finished third in his comeback attempt.


Anti-doping officials have said nothing short of a confession under oath — "not talking to a talk-show host," is how World Anti-Doping Agency director general David Howman put it — could prompt a reconsideration of Armstrong's lifetime ban from sanctioned events.


He's also had discussions with officials at the U.S. Anti-Doping Agency, whose 1,000-page report in October included testimony from nearly a dozen former teammates and led to stripping Armstrong of his Tour titles. Shortly after, he lost nearly all his endorsements, was forced to walk away from the Livestrong cancer charity he founded in 1997, and just this week was stripped of his bronze medal from the 2000 Olympics.


Armstrong could provide information that might get his ban reduced to eight years. By then, he would be 49. He returned to triathlons, where he began his professional career as a teenager, after retiring from cycling in 2011, and has told people he's desperate to get back.


Initial reaction from anti-doping officials ranged from hostile to cool.


WADA president John Fahey derided Armstrong's defense that he doped to create "a level playing field" as "a convenient way of justifying what he did — a fraud."


"He was wrong, he cheated and there was no excuse for what he did," Fahey said by telephone in Australia.


If Armstrong "was looking for redemption," Fahey added, "he didn't succeed in getting that."


USADA chief Travis Tygart, who pursued the case against Armstrong when others had stopped, said the cyclist's confession was just a start.


"Tonight, Lance Armstrong finally acknowledged that his cycling career was built on a powerful combination of doping and deceit," Tygart said. "His admission that he doped throughout his career is a small step in the right direction. But if he is sincere in his desire to correct his past mistakes, he will testify under oath about the full extent of his doping activities."


Livestrong issued a statement that said the charity was "disappointed by the news that Lance Armstrong misled people during and after his cycling career, including us."


"Earlier this week, Lance apologized to our staff and we accepted his apology in order to move on and chart a strong, independent course," it said.


The interview revealed very few details about Armstrong's performance-enhancing regimen that would surprise anti-doping officials.


What he called "my cocktail" contained the steroid testosterone and the blood-booster erythropoetein, or EPO, "but not a lot," Armstrong said. That was on top of blood-doping, which involved removing his own blood and weeks later re-injecting it into his system.


All of it was designed to build strength and endurance, but it became so routine that Armstrong described it as "like saying we have to have air in our tires or water in our bottles."


"That was, in my view, part of the job," he said.


Armstrong was evasive, or begged off entirely, when Winfrey tried to connect his use to others who aided or abetted the performance-enhancing scheme on the USPS team


When she asked him about Italian doctor Michele Ferrari, who was implicated in doping-related scrapes and has also been banned from cycling for life, Armstrong replied, "It's hard to talk about some of these things and not mention names. There are people in this story, they're good people and we've all made mistakes ... they're not monsters, not toxic and not evil, and I viewed Michele Ferrari as a good man and smart man and still do."


But that's nearly all Armstrong would say about the physician that some reports have suggested educated the cyclist about doping and looked after other aspects of his training program.


He was almost as reluctant to discuss claims by former teammates Tyler Hamilton and Floyd Landis that Armstrong told them, separately, that he tested positive during the 2001 Tour de Suisse and conspired with officials of the International Cycling Union officials to cover it up — in exchange for a donation.


"That story wasn't true. There was no positive test, no paying off of the labs. There was no secret meeting with the lab director," he said.


Winfrey pressed him again, asking if the money he donated wasn't part of a tit-for-tat agreement, "Why make it?"


"Because they asked me to," Armstrong began.


"This is impossible for me to answer and have anybody believe it," he said. "It was not in exchange for any cover-up. ... I have every incentive here to tell you yes."


Finally, he summed up the entire episode this way: "I was retired. ... They needed money."


Ultimately, though, it was Landis who did the most damage to Armstrong's story. Landis was stripped of the 2006 Tour title after testing positive and wound up on the sport's fringes looking for work. Armstrong said his former teammate threatened to release potentially destructive videos if he wasn't given a spot on the team. That was in 2009, when Armstrong returned to the Tour after four years off.


Winfrey asked whether Landis' decision to talk was "the tipping point."


"I'd agree with that. I might back it up a little and talk about the comeback. I think the comeback didn't sit well with Floyd," Armstrong recalled.


"Do you regret now coming back?"


"I do. We wouldn't be sitting here if I didn't come back," he said.


The closest Armstrong came to contrition was when Winfrey asked him about his apologies in recent days, notably to former teammate Frankie Andreu, who struggled to find work in cycling after Armstrong dropped him from the USPS team, as well as his wife, Betsy. Armstrong said she was jealous of his success, and invented stories about his doping as part of a long-running vendetta.


"Have you made peace?" Winfrey asked.


"No," Armstrong replied, "because they've been hurt too badly, and a 40-minute (phone) conversation isn't enough."


He also called London Sunday Times reporter David Walsh as well as Emma O'Reilly, who worked as a masseuse for the USPS team and later provided considerable material for a critical book Walsh wrote about Armstrong and his role in cycling's doping culture.


Armstrong subsequently sued for libel in Britain and won a $500,000 judgment against the newspaper, which is now suing to get the money back. Armstrong was, if anything, even more vicious in the way he went after O'Reilly. He intimated she was let go from the Postal team because she seemed more interested in personal relationships than professional ones.


"What do you want to say about Emma O'Reilly?" Winfrey asked.


"She, she's one of these people that I have to apologize to. She's one of these people that got run over, got bullied."


"You sued her?"


"To be honest, Oprah, we sued so many people I don't even," Armstrong said, then paused, "I'm sure we did."


Near the end of the first interview installment, Winfrey asked about a federal investigation of Armstrong that was dropped by the Justice Department without charges.


"When they dropped the case, did you think: 'Now, finally over, done, victory'?"


Armstrong looked up. He exhaled.


"It's hard to define victory," he said. "But I thought I was out of the woods."


___


AP Sports Writers Jim Vertuno in Austin, Texas, Eddie Pells in Denver and Dennis Passa in Melbourne contributed to this report.


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The Neediest Cases: Medical Bills Crush Brooklyn Man’s Hope of Retiring


Andrea Mohin/The New York Times


John Concepcion and his wife, Maria, in their home in Sheepshead Bay, Brooklyn. They are awaiting even more medical bills.







Retirement was just about a year away, or so John Concepcion thought, when a sudden health crisis put his plans in doubt.





The Neediest CasesFor the past 100 years, The New York Times Neediest Cases Fund has provided direct assistance to children, families and the elderly in New York. To celebrate the 101st campaign, an article will appear daily through Jan. 25. Each profile will illustrate the difference that even a modest amount of money can make in easing the struggles of the poor.


Last year donors contributed $7,003,854, which was distributed to those in need through seven New York charities.








2012-13 Campaign


Previously recorded:

$6,865,501



Recorded Wed.:

16,711



*Total:

$6,882,212



Last year to date:

$6,118,740




*Includes $1,511,814 contributed to the Hurricane Sandy relief efforts.





“I get paralyzed, I can’t breathe,” he said of the muscle spasms he now has regularly. “It feels like something’s going to bust out of me.”


Severe abdominal pain is not the only, or even the worst, reminder of the major surgery Mr. Concepcion, 62, of Sheepshead Bay, Brooklyn, underwent in June. He and his wife of 36 years, Maria, are now faced with medical bills that are so high, Ms. Concepcion said she felt faint when she saw them.


Mr. Concepcion, who is superintendent of the apartment building where he lives, began having back pain last January that doctors first believed was the result of gallstones. In March, an endoscopy showed that tumors had grown throughout his digestive system. The tumors were not malignant, but an operation was required to remove them, and surgeons had to essentially reroute Mr. Concepcion’s entire digestive tract. They removed his gall bladder, as well as parts of his pancreas, bile ducts, intestines and stomach, he said.


The operation was a success, but then came the bills.


“I told my friend: are you aware that if you have a major operation, you’re going to lose your house?” Ms. Concepcion said.


The couple has since received doctors’ bills of more than $250,000, which does not include the cost of his seven-day stay at Beth Israel Medical Center in Manhattan. Mr. Concepcion has worked in the apartment building since 1993 and has been insured through his union.


The couple are in an anxious holding pattern as they wait to find out just what, depending on their policy’s limits, will be covered. Even with financial assistance from Beth Israel, which approved a 70 percent discount for the Concepcions on the hospital charges, the couple has no idea how the doctors’ and surgical fees will be covered.


“My son said, boy he saved your life, Dad, but look at the bill he sent to you,” Ms.  Concepcion said in reference to the surgeon’s statements. “You’ll be dead before you pay it off.”


When the Concepcions first acquired their insurance, they were in good health, but now both have serious medical issues — Ms. Concepcion, 54, has emphysema and chronic obstructive pulmonary disease, and Mr. Concepcion has diabetes. They now spend close to $800 a month on prescriptions.


Mr. Concepcion, the family’s primary wage earner, makes $866 a week at his job. The couple had planned for Mr. Concepcion to retire sometime this year, begin collecting a pension and, after getting their finances in order, leave the superintendent’s apartment, as required by the landlord, and try to find a new home. “That’s all out of the question now,” Ms. Concepcion said. Mr. Concepcion said he now planned to continue working indefinitely.


Ms. Concepcion has organized every bill and medical statement into bulging folders, and said she had spent hours on the phone trying to negotiate with providers. She is still awaiting the rest of the bills.


On one of those bills, Ms. Concepcion said, she spotted a telephone number for people seeking help with medical costs. The number was for Community Health Advocates, a health insurance consumer assistance program and a unit of Community Service Society, one of the organizations supported by The New York Times Neediest Cases Fund. The society drew $2,120 from the fund so the Concepcions could pay some of their medical bills, and the health advocates helped them obtain the discount from the hospital.


Neither one knows what the next step will be, however, and the stress has been eating at them.


“How do we get out of this?” Mr. Concepcion asked. “There is no way out. Here I am trying to save to retire. They’re going to put me in the street.”


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Morgan Stanley swings to profit as firm expands wealth management













Morgan Stanley.


Outside Morgan Stanley headquarters in midtown Manhattan, New York.
(Stan Honda / Getty)





































































Morgan Stanley's big push into wealth management seems to be paying off.


The New York investment bank, which has been cutting costs as it has struggled to boost earnings, returned to profitability in the fourth quarter.


Morgan Stanley reported $507 million in profit, compared to a loss of $250 million the same period in 2011. Profits from its wealth management and institutional securities divisions surged.





Morgan Stanley's profit beat Wall Street estimates, and its stock surged in pre-market trading on Wall Street. Its shares added $1.37, or 7%, to $22.12 before the opening bell Friday, following a 1% gain the previous day.


The boost in profits came as the firm reportedly plans to cut 1,600 employees, joining its Wall Street peers in mass layoffs.


Morgan Stanley is trimming its ranks by 360 employees at five sites in New York, according to an official notice filed this week with the state's Department of Labor.


"After a year of significant challenges, Morgan Stanley has reached a pivot point," James Gorman, the bank's chairman and chief executive, said in a statement. After improving results across various divisions, he added: "Our firm is now poised to reach the returns of which it is capable on behalf of our shareholders."


Morgan's results followed disappointing fourth-quarter results reported Thursday by investment banking laggards Citigroup Inc. and Bank of America Corp. Wells Fargo & Co., JPMorgan Chase & Co. and Goldman Sachs Group Inc. have meanwhile reported surges in profits late last year.


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Group of hostages reportedly escapes Islamist captors in Algeria









CAIRO -- The Algerian news agency reported Thursday that as many as 45 hostages, including Americans, had escaped from a natural gas complex a day after Islamic militants seized the installation in retaliation for French airstrikes against Islamist rebels in neighboring Mali.   

The Algerian report said 30 Algerians and 15 foreigners had fled the compound Thursday. The report could not be independently confirmed. The Associated Press, quoting an unnamed Algerian official, said 20 foreigners, including Americans, had escaped.


[Updated, 5:51 a.m. Jan. 17: Conflicting reports suggested that hostages and kidnappers may have been killed by Algerian soldiers when they attempted to leave the complex. Media reports said a Mauritanian news organization quoted a militant spokesman as saying gunfire from helicopters killed 35 foreigners and 15 kidnappers, including the group's leader.





If either scenario if true -- no details are yet known -– it would mark a stunning twist in a drama that has raised fears of a long siege and highlighted the dangerous Islamist extremism stretching from Mali across the mountains and lawless deserts of North Africa.]


The militants had reportedly threatened to blow up the gas facility at In Amenas near the Libyan border if government commandos attempted to free the hostages. France 24 television reported that a male captive said in a telephone interview that attackers forced some hostages to strap on belts laden with explosives. It could not be confirmed if the man was a hostage.


Hundreds of Algerian soldiers ringed the Sahara Desert compound and helicopters skimmed above. Algerian officials had earlier said they would not negotiate with the militants, who reportedly had asked for safe passage into Libya.


Captives being held are believed to be from the U.S., France, Japan, Norway and other countries. Reports on Wednesday suggested that as many as 41 foreigners were being held by an Al Qaeda-linked group calling itself the Signed-in-Blood Battalion.


The ordeal has shown the volatility of a region bristling with gunrunners, smugglers and a visceral strain of Islamic ideology. Militant groups, including Algeria's Al Qaeda in the Islamic Maghreb (AQIM), have been deadly at home but now present a widening danger in North Africa, including in Tunisia and Libya, where Islamic extremists have gained a foothold since the uprisings of the Arab Spring.


The natural gas complex at In Amenas, which supplies Europe and Turkey, is a joint venture operated by BP; Statoil, a Norwegian firm; and Sonatrach, the Algerian national oil company


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Islamic militants hold foreigners hostage at Algeria gas field


Pakistan government calls demands by protesters "not possible"


jeffrey.fleishman@latimes.com


 


 





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Missouri Lawmaker Wants Violent Video Games Taxed






A rural Missouri lawmaker wants her state to tax certain video games to help curb gun violence. The Associated Press reports state Rep. Diane Franklin, R-Camdenton, believes a 1 percent sales tax on video games rated teen, mature and adults only would help finance mental health programs aimed at reducing gun violence such as the recent mass shooting at Sandy Hook Elementary School in Newtown, Conn.


What does the legislation propose?






House Bill 157 proposes to create “an excise tax based on the gross receipts or gross proceeds of each sale” of video games rated by the Entertainment Software Rating Board (ESRB). The tax also involves the “storage, use or other consumption” of violent video games in Missouri including “tangible personal property.” This means the tax could extend to memorabilia derived from the games such as toys, clothing and video game accessories.


How does the legislation hope to enhance public safety?


The law hopes to procure “new and additional funding for treatment of mental health conditions associated with exposure to violent video games… .” The revenue from the tax cannot be used to replace existing revenue already in place. Franklin deems the legislation “necessary for the immediate preservation of the public health, welfare, peace and safety.” Therefore, if the legislation passes it will go into effect immediately. There is no mention in the legislation as to how much revenue should be generated, nor does it say whether the sales tax is just on new merchandise as opposed to used games on the secondary market.


Have similar laws been considered before?


A similar proposal was struck down in mid-February in Oklahoma. Democrat William Fourkiller crafted legislation in 2012 that is very similar to Franklin’s idea in Missouri. A subcommittee struck down the bill by a 6-5 margin. Fourkiller, in defending the law , said it wasn’t a “magic bullet” but that Oklahoma had “to start somewhere” to curb childhood violence. Oklahoma also would have taxed ESRB teen, mature and adults only games at a rate of 1 percent.


Does the Missouri law have a chance to pass?


CNN notes a federal appeals court made a ruling in 2003 that video games are free speech protected by the First Amendment. Ironically, it was a federal case stemming from St. Louis County, Mo., that created the precedent for video games as free speech. Senior U.S. District Judge Stephen Limbaugh’s decision was reversed by an appellate panel. The ruling came shortly after the state of Washington banned the sale of certain video games to children under the age of 17. Gamasutra reveals New Mexico also tried, and failed, to pass a similar law in 2008.


What are Franklin’s credentials as they relate to the proposed bill?


Franklin was first elected in 2010 from Camdenton. She is a mother of two sons and served on Camdenton School Board from 1993 to 1999. She sits on the House Appropriations-Education committee. Franklin is a third-generation small business owner and comes from a farming family. Missouri Republicans currently have a veto-proof supermajority in the General Assembly. Camdenton is a small city of around 3,700 people near Lake of the Ozarks in central Missouri.


William Browning is a research librarian specializing in U.S. politics.


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Lance Armstrong left it 'all on table' with Oprah


All the speculation is about to end. In a matter of hours, viewers can judge for themselves whether Lance Armstrong told the truth this time.


Armstrong's confession to Oprah Winfrey about using performance-enhancing drugs to win the Tour de France a record seven times in a row will be televised at 9 p.m. Thursday, the first segment of a two-part special on the Oprah Winfrey Network. Since word of his confession during Monday's taping in Austin, Texas, was first reported by The Associated Press, there has been no shortage of opinions or advice on what Armstrong should say.


The International Olympic Committee didn't wait to listen.


The IOC on Wednesday stripped Armstrong of his 2000 bronze medal, sending him a letter asking him to return it, according to officials who spoke on condition of anonymity because the decision had not been announced.


For others who will tune in Thursday, it's not just what Armstrong said that matters. How he said it, whether angry, tearful or matter-of-fact, will be judged as well.


"I left it all on the table with her and when it airs the people can decide," Armstrong said of his interview in a text sent to the AP on Wednesday. He dismissed a story earlier in the day that described him as "not contrite" when he acknowledged doping while dominating the cycling world.


Livestrong, the cancer charity Armstrong founded in 1997 and was forced to walk away from last year, said in a statement it expected him to be "completely truthful and forthcoming." A day earlier, World Anti-Doping Agency director general David Howman said nothing short of a confession under oath — "not talking to a talk-show host" — could prompt a reconsideration of Armstrong's lifetime ban from sanctioned events. And Frankie Andreu, a former teammate that Armstrong turned on, said the disgraced cyclist had an obligation to tell all he knew and help clean up the sport.


"I have no idea what the future holds other than me holding my kids," Armstrong said in the text.


Armstrong has held conversations with officials from the U.S. Anti-Doping Agency, including a reportedly contentious face-to-face meeting with USADA chief executive Travis Tygart near the Denver airport. It was USADA's 1,000-page report last year, including testimony from nearly a dozen former teammates, that portrayed Armstrong as the leader of a sophisticated doping ring that propelled the U.S. Postal Service team to title after title at the Tour de France. In addition to the lifetime ban, Armstrong was stripped of all seven wins, lost nearly all of his endorsements and was forced to cut ties with Livestrong.


According to a person with knowledge of the situation, Armstrong has information that might lead to his ban being reduced to eight years. That would make him eligible to compete in elite triathlons, many of which are sanctioned under world anti-doping rules, in 2020, when Armstrong will be 49. He was a professional athlete in the three-discipline sport as a teenager, and returned to competition after retiring from cycling in 2011.


That person also said the bar for Armstrong's redemption is higher now than when the case was open, a time during which he refused to speak to investigators. The person spoke on condition of anonymity because he was discussing a confidential matter.


Armstrong, who always prized loyalty on his racing teams, now faces some very tough choices himself: whether to cooperate and name those who may have aided, abetted or helped cover up the long-time use of PEDs.


Armstrong left his hometown of Austin, where the interview was taped at a downtown hotel, and is in Hawaii. He is named as a defendant in at least two pending lawsuits, and possibly a third. The Justice Department faces a Thursday deadline on whether to join a whistle-blower lawsuit filed by former teammate Floyd Landis, who was stripped of the 2006 Tour de France title for doping.


That suit alleges Armstrong defrauded the U.S. government by repeatedly denying he used performance-enhancing drugs. Armstrong could be required to return substantial sponsorship fees and pay a hefty fine. The AP reported earlier that Justice Department officials were likely to join the lawsuit.


___


Jim Litke reported from Chicago, Jim Vertuno from Austin.


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The New Old Age Blog: Officials Say Checks Won't Be in the Mail

The jig is up.

Two years ago, the Treasury Department initiated its Go Direct campaign to persuade people still receiving paper checks for their Social Security, Veterans Affairs, S.S.I. and other federal benefits to switch to direct deposit.

“At that point, we were issuing approximately 11 million checks each month,” or about 15 percent of the total, Walt Henderson, director of the campaign, told me.

After putting notices in every monthly check envelope, circulating public service announcements and putting the word out through banks, senior centers, the Red Cross, AARP and other organizations, the Treasury Department has since shrunk that number to five million monthly checks.

That means 93 percent of those getting federal benefits are using direct deposit or, if they prefer or lack a bank account, a Direct Express debit card that gets refilled each month and can be used anywhere that accepts MasterCard.

“So people have been getting the word and making the switch,” Mr. Henderson said. Now, federal officials are pushing the last holdouts to convert to direct deposit by March 1.

Although officials say the change is not optional, the jig isn’t entirely up. If you or your older relative does not respond to their pleading, “we’re not going to interrupt their payments,” Mr. Henderson said. But the department will start sending letters urging people to switch.

The major motive is financial: shifting the last paper checks to direct deposit or a debit card (only 2 percent of recipients go that route) will save $1 billion over the next decade, the department estimates.

But safety enters the picture, too. One reason some beneficiaries resist direct deposit, Mr. Henderson said, is that they fear their electronic deposits can be hacked or diverted. Having grown up in a predigital age, perhaps they feel safer with a check in their hands.

But they probably aren’t. In 2011, the Treasury Department received 440,000 reports of lost or stolen benefits checks. With direct deposit, “there’s no check lingering unattended in a mailbox,” Mr. Henderson noted.

The greater reason for sticking with paper is probably simple inertia. “It’s human nature to procrastinate,” he said.

But unless you or your relatives want a series of letters from the Treasury Department, it is probably time for the last fence-sitters to get with the program.

They don’t need to use a computer. People can switch to direct deposit, or get the debit card, at their banks or the local Social Security office. More simply, they can call a toll-free number, (800) 333-1795, and have agents walk them through the change. Or they can sign up online at www.GoDirect.org.

They will need:

  1. Their Social Security number.
  2. The 12-digit federal benefit number found on their checks.
  3. The amount of the most recent check.
  4. And, for direct deposit, a bank or credit union routing number, usually found on the front of a check. They can have direct deposit to a savings account, too.

A caution for New Old Age readers: If you think your relative has not switched because he or she is cognitively impaired and can no longer handle his finances, you can be designated a representative payee and receive monthly Social Security or S.S.I. payments on your relative’s behalf. This generally requires a visit to your local Social Security office, documentation in hand.


Paula Span is the author of “When the Time Comes: Families With Aging Parents Share Their Struggles and Solutions.”

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Citi profit climbs 25% but disappoints Wall Street









Citigroup Inc. posted a 25% jump in fourth-quarter profit as its new management struggles to restructure the bank and overcome lingering woes from the mortgage meltdown.


Citi said Thursday that it earned $1.2 billion, or 38 cents a share, in the fourth quarter, up from $956 million, or 31 cents, in the same period in 2011.


Excluding restructuring and other one-time accounting charges, Citi earned 69 cents a share in the fourth quarter.





But the bank's profit fell short of Wall Street expectations, according to analysts polled by Bloomberg News who estimated per-share earnings of 96 cents.


Citi's fourth-quarter results were dragged down in part by $1.3 billion in legal costs and related expenses.


"Our bottom-line earnings reflect an environment that remains challenging," Chief Executive Michael Corbat said in a statement.


He added: "It will take some time to work through the challenges of the current environment but realizing our core earnings potential, as well as improving our returns on assets and tangible equity, are critical goals going forward."


For all of 2012, Citi's profit declined 32%. The bank reported $7.5 billion, or $2.44 a share, in profit last year, down from $11.1 billion, or $3.63, in 2011.


Citi's earnings report was the company's first quarterly financial report since the bank's board installed Corbat as CEO last year.


Vikram Pandit, Citi's former CEO, abruptly resigned after the company posted third-quarter earnings in October last year. Pandit's departure reportedly resulted from a long-simmering dispute with the board.


In December, Citi announced plans to lay off more than 11,000 employees as part of broader restructuring that analysts predict will only involve more layoffs. The planned cuts account for 4% of its global workforce of 261,000.


Citi's stock lost 84 cents, or 2%, to $41.64 a share in pre-market trading Thursday on Wall Street.


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Read More..

Helicopter crashes in central London, killing at least two people









LONDON -- A helicopter apparently crashed into a crane atop a high-rise building in central London during the morning rush hour Wednesday, falling to earth and killing at least two people, police said.


Video footage showed flaming debris on the ground where the chopper came down in the Vauxhall district of south London, close to the headquarters of MI6, Britain's spy agency.


Scotland Yard said two people were confirmed dead at the scene, with two others taken to the hospital. A fire official told the BBC that one of the dead had been aboard the helicopter. Authorities quickly cordoned off the area and shut down Vauxhall rail station.





[Update, 4:26 a.m. Jan 16: Later Wednesday morning, police said one of the dead was the chopper's pilot. The other victim has not been identified, but the helicopter was not believed to be carrying passengers, police said. 


"At this stage, it appears a commercial helicopter on a scheduled flight was in collision with a crane on top of a building under construction," Scotland Yard said in a statement. 


Police said seven people were treated on the scene for minor injuries. Six people were taken to local hospitals, all for minor injuries except for one person who suffered a broken leg.]


The crash occurred on a gray morning with thick clouds or fog lying low in the sky. Police did not speculate as to the cause of the crash, but the BBC reported that terrorism did not appear to be likely.


Nicky Morgan, a member of Parliament who was walking toward Vauxhall, told the broadcaster that she heard a huge explosion shortly before 8 a.m., a time when commuters and schoolchildren were going about their usual routine.


"I did wonder if it was a bomb explosion, because it was just such a loud bang," she said. "It was the thick black smoke that really meant that this is not right."


Helicopters are common in London, particularly around the city's financial district where many tall buildings are clustered.


The crash site is near the Nine Elms neighborhood south of the Thames, where the U.S. is planning to build a large new embassy.


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iPhone demand said to be ‘robust,’ recent cuts don’t reflect weak demand







Following recent reports from Nikkei and The Wall Street Journal that suggested Apple (AAPL) slashed iPhone 5 component orders in half due to weak demand,  the company’s stock fell significantly and opened below $ 500 for the first time in nearly a year. The reports have been called into question, however, with many believing they do not represent true consumer interest. Shaw Wu of Sterne Agee wrote in a note to investors on Tuesday, per Apple Insider, that his supply chain checks have indicated that demand for the iPhone 5 “remains robust.” The analyst believes the recent reports are a result of improved yield rates and possibly Apple’s recent supplier changes.


[More from BGR: PlayStation 4 and Xbox 720 could cost just $ 350, expected to launch this fall]






Despite the recent concerns, Wu expects Apple to post better-than-expected earnings for the December quarter led by sales of 47.5 million iPhones with a gross margin of 38.7%. Both estimates are above Wall Street’s expectations of between 46 to 47 million iPhones and a 38.3% gross margin.


[More from BGR: HTC One SV review]


Sterne Agee reiterated its Buy rating on shares of Apple with a price target of $ 840.


Wu’s expectations remain bullish compared to other Wall Street analysts. Stuart Jeffrey of Nomura is the most recent analyst to cut his outlook on Apple stock. Nomura reduced the company’s price target to $ 530 from $ 660 Tuesday morning, citing weak demand for the iPhone 5 and increased pressure on Apple’s margins.


This article was originally published on BGR.com


Wireless News Headlines – Yahoo! News




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