quarta-feira, 15 de agosto de 2012

Utility’s Role in Convention Tests Obama

CHARLOTTE, N.C. — When Charlotte first emerged as the top contender to host the Democratic convention, its lead cheerleader was James E. Rogers, the outspoken chief executive of the hometown utility, Duke Energy. He promised to be a public face and a private fund-raiser for the effort. 

Mr. Rogers has not only solicited donations but has also arranged for his company to donate office space and guarantee a loan to the convention committee.
He cited local pride as motivation, but Duke Energy, which became the nation’s largest utility with its recent merger, also had a business incentive. The company, which has supported the energy initiatives of President Obama and Congressional Democrats, has received federal economic stimulus money and alternative-energy grants. Its financial future stands to be greatly influenced by the sorts of environmental proposals the president’s party has vowed to pursue.
The intersection of Duke Energy’s interests and its support for the convention is testing Mr. Obama’s pledge to free the party’s gathering from business and lobbyist support.
The situation is a microcosm of a larger issue that Mr. Obama’s campaign has faced. It has tried to balance the president’s longtime pledge to reduce the influence of special interests in politics with his real-world need to raise the huge amounts of money that modern campaigns require, at times in ways that seem to contradict those pledges.
Republicans are accusing the convention organizers of hypocrisy. Some Democrats are saying the White House set itself up for the charges by making a vow that was bound to be difficult to keep and that would risk alienating its business supporters.
Duke has found its task a thankless one. Some of its conservative shareholders have accused the company of getting too cozy with the administration. Some Democrats have complained that Mr. Rogers has not done enough to raise the money necessary for the convention. And whatever Mr. Rogers’s fund-raising success, it was not enough to stop a Democratic group from implying nefarious connections between the utility and the Republican candidate for governor here, Pat McCrory.

terça-feira, 14 de agosto de 2012

British Bank in $340 Million Settlement for Laundering

New York’s top banking regulator reached a settlement on Tuesday with Standard Chartered over charges that the British bank laundered hundreds of billions of dollars in tainted money with Iran and deliberately lied to regulators.
Shawn Thew/European Pressphoto Agency
The bank agreed to pay $340 million to the Department of Financial Services, which is led by Benjamin M. Lawsky.

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The bank agreed to pay $340 million to the Department of Financial Services, which is led by Benjamin M. Lawsky. “The parties have agreed that the conduct at issue involved transactions of at least $250 billion,” Mr. Lawsky said in a statement.
Tuesday’s cease-fire between the state regulator and Standard Chartered marks a big win for the department, which was formed last year.
As part of the settlement, the bank will install a monitor for at least two years to vet the bank’s money laundering controls. In addition, the bank agreed to put in permanent officials who will audit the bank’s internal procedures to prevent offshore money laundering.
The agreement enables the bank to avoid having its license to operate in New York revoked.
Last week, the New York state regulator charged that Standard Chartered laundered $250 billion in tainted money for Iranian clients through its New York branch.
The bank’s admission that it processed $250 billion in tainted money is slightly misleading, according to federal regulators briefed on the matter.
Standard Chartered has maintained that “99.9 percent” of the transactions under scrutiny, or all but about $14 million, complied with federal law and involved legitimate Iranian banks and corporations — not entities that had anything to do with supporting terrorist activities or the development of a nuclear weapon.
The bank’s defense of its transactions still has traction with other authorities, including the Justice Department and the Manhattan district attorney’s office.
But Mr. Lawsky, according to the people briefed on the matter, has largely based his case on claims that the bank violated state law by masking the identities of its Iranian clients and thwarting American efforts to detect money laundering.
His order against Standard Chartered charged that the bank violated a panoply of state laws by failing to “maintain or make available at its New York branch office true and accurate books, accounts and records” of transactions including the “Iranian U-turn transactions.”
The order also claims that the bank falsified records “with the intent to deceive the superintendent and examiners, supervisors and lawyers of the department and representatives of other U.S. regulatory agencies.”
A hearing scheduled for Wednesday was canceled.
Mr. Lawsky stunned other federal authorities, particularly officials at the Federal Reserve and the Justice Department, who were also looking into the bank’s activities, according to several people close to the case.
The agencies involved, including the Treasury Department, were debating just how expansive the suspected wrongdoing was at Standard Chartered when Mr. Lawsky leapfrogged ahead of them last week, according to the people close to the case. Some federal authorities still believe that the amount is much smaller, perhaps in the millions of dollars.
In its initial response to the accusations last week, the bank said that it “strongly rejects the position and portrayal of facts” by the agency.
The Federal Bureau of Investigation said that it had an open investigation into money laundering at Standard Chartered.
Beyond the dealings with Iran, the banking regulator said it had discovered evidence that Standard Chartered operated “similar schemes” to do business with other countries under United States sanctions, including Myanmar (formerly Burma), Libya and Sudan.
The “apparent fraudulent and deceptive conduct” by Standard Chartered happened from 2001 to 2010, the order said, and was particularly “egregious,” because some of the transactions were being processed even as the bank was under formal oversight by New York banking regulators from 2004 to 2007.

Brunn.Lo, is nominated Brazilian international twitter.


With only 16 years old, and for many Brunno lopez Brunn.Lo was appointed this week to the international award twitter, the popular PIT. In addition it was indicated singer Ivete Sangalo, the player Neymar junior newspaper and tv open national newspaper.
Nothing else is flowers, Lo was nominated for Anonymous and design. Being the busiest category. With him were more than 1000 people indicated only in Brazil.
The PIT is an American prize that happens their awards via web cam. Many famous Brazilians have won this award which is in its 12th edition.
In addition more than 15 anonymous people in Brazil have won, and they, Carlos Souza de Campina Grande - PB, Aline Teixeira de São Paulo capital, Nelson Pereira de Belém, Pará. And many others.
More Brunn.Lo this year will compete only with foreigners, is that Lo was the only Brazilian to compete for the prize in the category Design.
The result and award the prize PIT out Sept. 8.

Youth Driving Laws Limit Even the Double Date

CLIFTON, N.J. — It is a rite of American teendom, celebrated in popular culture by “American Graffiti” and “Fast Times at Ridgemont High”: a teenager with a driver’s license piling as many friends as will fit into the car for a ride.

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Megan Lavery, 17, has appeared in televised messages about those laws.

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But increasingly, states are legislating away that carefree cruise, passing laws that restrict when, how and with whom teenagers can get behind the wheel.
Fifteen states and the District of Columbia now prohibit teenagers from driving with another teenager, and all but seven states forbid them from driving with more than one. In South Carolina, teenagers cannot drive after 6 p.m. in winter (8 p.m. in summer), and in Idaho, they are banned from sundown to sunup.
Here in New Jersey, which has long had the nation’s highest licensing age, 17, lawmakers are pushing further, requiring teenage drivers to attach a red decal to their license plates to make it easier for the police to enforce a curfew and passenger restrictions, and proposing a law to require even parents to complete a driver education course.
The laws have raised complaints that the state is outsourcing parenting to the police — not to mention that passenger limits effectively outlaw the teenage double date.
But safety campaigners point to studies showing that the laws have significantly reduced traffic deaths and call them a natural extension for a generation that has grown up protected by sport utility strollers and bicycle helmet laws.
“I have one son; I have done everything I can to get him this far in life,” said Pam Fischer, who is a safety campaigner pressing for stricter laws in New Jersey, and whose son will take the test for his probationary driver’s license this week. “I’m not just going to throw him the keys.”
Car crashes remain the leading cause of death for teenagers, who have a crash rate four times higher than that of older drivers. And two-thirds of those deaths happen in a car driven by another teenager.
Studies have shown that teenagers tend to overrate their driving skills and underrate risks on the road, and have more trouble multitasking — talking to friends, listening to the radio and texting are particularly hazardous. Teenage drivers’ risk of a crash increases 44 percent with one teenage passenger, and quadruples with three or more.
The push to restrict teenage drivers dates to the mid-1990s, when states, starting with Florida, began passing laws providing for graduated driver’s licenses, which require periods of supervision and probationary driving before teenagers can get a full license.
Now, all states have graduated driver’s licensing — North Dakota, the last holdout, began requiring it in January. But most states are revisiting these laws to make them tougher; 29 have done so since 2009, according to the Insurance Institute for Highway Safety, an industry-financed group.
Mostly, they are further restricting the number of passengers or tightening curfews. And increasingly, they are also banning cellphone use even with headsets and tying drivers’ licenses to school attendance. The restrictions generally do not apply to new drivers over 21.
Efforts have been particularly aggressive in the bumper-to-bumper Northeast. Bills requiring a decal like New Jersey’s are pending in New York and Rhode Island. Last year, Pennsylvania passed a one-teenage-passenger restriction and imposed the nation’s strictest requirements for practice driving, 65 hours. And an effort to ease Connecticut’s ban on teenage passengers, by allowing teenagers to drive siblings, failed in March.
At the federal level, the highway bill passed this summer set up incentives for states to tighten restrictions on teenage drivers, with particular encouragement to impose stricter limits on the number of passengers and the hours teenagers can drive, to ban cellphone use and to extend the restrictions to age 18 in states where they end earlier.
“We don’t want to say that teens are a menace to us all, but the reality is, when teen drivers crash, it’s people in other cars or teen passengers who end up dying,” said Justin McNaull, director of state relations for AAA, which endorses passenger limits to age 21 or even 25.
“You go back to ‘Grease’ and ‘American Graffiti’ to understand the love of youngsters and their vehicles. But we understand now so much better the risks that are involved.”
The experience of New Jersey, considered one of the models for strict laws on teenage driving, shows how those laws have evolved.
The state imposed its graduated license in 2001, limiting teenagers to one passenger with an exemption for household members. Finding that suddenly cars driven by teenagers were full of “cousins,” the state tightened the law in 2009, disallowing even siblings. But a state commission found that police officers were reluctant to enforce the law, and that teenagers knew it.

Lady Gaga Sale Stalls Amazon Servers

Lady Gaga has made herself a paragon of pop ambition and a spokeswoman for equal rights, but on Monday she became an unwitting symbol for something else: the pitfalls of cloud computing.
“Born This Way” (Interscope), her new album, arrived with a blitz of marketing, and Amazon surprised the singer’s fans by offering a one-day sale of the MP3 version of the album for 99 cents, a full $11 less than its price at iTunes, the Web’s dominant music retailer. 

The discount was widely seen as a way for Amazon to promote its new Cloud Drive service, which allows users to store music files on remote servers and stream them over the Internet to their computer or smartphone. But Amazon may have underestimated the zeal (or thrift) of Lady Gaga’s fans. By early afternoon the company’s servers stalled, and many users were unable to download or listen to the album in full. Frustrated customers quickly took to Twitter and to Amazon’s user review page for “Born This Way.”
“Very disappointed,” a customer wrote in a one-star review of the album. “I guess next time I will pay full price and get the album immediately on iTunes.”
Amazon’s only public comment on the matter was a Twitter message, sent about 1:15 p.m. Eastern time: “We’re currently experiencing very high volume. If you order today, you will get the full @ladygaga album for $.99. Thanks for your patience.”
Most music companies see cloud services — which promise that all your music will be available on all your devices at any time — as the next frontier for the industry. And for the retailers and technology companies that will operate them, such services have become in important battleground. Google unveiled its own cloud service, Music Beta, this month, and Apple was said to be close to introducing its own.
Amazon offers customers five free gigabytes of space on its Cloud Service and increases it to 20 gigabytes for customers who buy an album.
“What Amazon is trying to do is build up as much share as possible before Apple comes in,” said Russ Crupnick, an analyst with NPD Group, a market research firm.
Some analysts and music executives said the problem could affect confidence in an unfamiliar technology. Last month a variety of Web sites, from start-ups like GroupMe.com to The New York Times, were affected by a failure on servers that Amazon rents for cloud computing.
“It’s perhaps not a fatal flaw that this happened, but it certainly creates a challenge for them,” said Matthew Eastwood, an analyst at IDC, a firm that researches technology. “There is not a lot of forgiveness for things like this in the market. People will tend to move on and find other suppliers.”
Amazon introduced its MP3 store in 2007, but it has struggled to compete with iTunes. Late last year the NPD Group estimated that iTunes’s share of the digital download market was 66.2 percent and Amazon’s was 13.3 percent.
Amazon often sells albums through one-day promotions for $4 or $5. Music executives have said that Amazon usually accepts the loss if it sells an album for less than the wholesale price charged by the labels, which is typically around $7 an album but may be more for a priority release. Amazon declined to comment beyond its Twitter message, and a representative of Lady Gaga’s record label, Interscope, did not respond to e-mails requesting comment.
Other industry observers questioned whether Amazon’s error with Lady Gaga downloads would have a lasting effect on such a popular store.
“People are having a headache for one dollar,” said Tamara Conniff, a former editor of Billboard who is the founder of TheComet.com, a music news and opinion site. “They’d be willing to try it again for another dollar. Full price is another story.”

Arena Full of Fans Caught Brazilian Fever and Had to Sing Along


Brazil’s top pop singer, Ivete Sangalo, boldly courted a wider audience with a concert on Saturday night at Madison Square Garden. According to the promoters, Caco de Telha Entertainment, she was the first Brazilian musician to headline the Garden; the show was videotaped for her next live DVD. (She recorded a previous live DVD and CD, “Multishow ao Vivo: Ivete no Maracanã,” at a Rio de Janeiro soccer stadium, so the Garden was comparatively intimate, even on the weekend of New York’s Brazilian Day festival.)
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Ms. Sangalo, who is from the state of Bahia, sang in English and Spanish along with Portuguese. She had guest duet partners including the Colombian rocker and Latin Grammy Award champion Juanes, the Portuguese-Canadian pop singer Nelly Furtado, the Brazilian songwriter Seu Jorge and the Argentine pop singer Diego Torres — and her husky voice could hold its own with them. She had fireworks and confetti, dancers and costumes, and a catwalk that got her closer to the audience. She was indefatigable onstage, doing fast samba footwork in high heels through a three-hour set. A new song, “Aceleraê” (“Acceleration”), promised to dance all night: “Today is the day of Ivete!” the lyrics proclaimed.
The Brazilians who sold out the 15,000 tickets — including 5,000 tickets sold in Brazil — roared through singalongs, and in “A Galera,” a song about dancing, the fans line-danced on cue, spilling into the bleacher aisles.
But it won’t be easy for Ms. Sangalo to expand her territory and join performers like Beyoncé, Madonna and Shakira as a globally recognized pop star. There is, inevitably, a language barrier for songs in Portuguese. Ms. Sangalo’s set included two awkward American oldies: “Human Nature” from Michael Jackson’s “Thriller,” redone as a Bahian sambareggae, and the Commodores’ “Easy,” which she sang accompanying herself on piano. Her duet with Ms. Furtado, “Where It Begins,” was a lightweight but more promising pop fusion: an optimistic love song in English meshed with a Brazilian beat. She also reached for a Spanish-speaking audience; her duets with Juanes and Mr. Torres were bilingual love songs.
Ms. Sangalo has another hurdle: rhythm. Many of her Brazilian hits, like “Cadê Dalila,” use the fast, clattering beat of Bahian carnival music, axé — a beat that few outside Brazil can keep up with. It could be harder for international audiences to assimilate to than Beyoncé’s R&B or Shakira’s midtempo cumbia. She tried one international crossover strategy: putting synthesizers and a common-denominator 4/4 club beat under one medley of hits. But completely giving up that Brazilian propulsion would neutralize her music. It’s the crossover dilemma, and one that Ms. Sangalo still needs to work out.
Ms. Sangalo strutted through the routines of an arena diva with spirit. Yet after the confetti shower and the big exit — ascending with a bunch of balloons — she came back for another unchoreographed half-hour that was thoroughly Brazilian and the best part of the concert. She brought her whole staff onstage along with Margareth Menezes and Netinho, fellow Bahian singers. With her band somehow picking up cues amid the crowd, she vaulted through a half-dozen carnival songs, full of references to the streets and neighborhoods of Bahia’s capital, Salvador, with the whole arena singing along. Even in New York she was playing to a home crowd.
Afterward, when Ms. Sangalo and her troupe had left the stage, the audience started its own singalong, spontaneously. It was a song that celebrates soccer wins, “Eu Sou Brasileiro”: “I am Brazilian, with much pride, with much love.”
This article has been revised to reflect the following correction:
Correction: September 9, 2010

A music review on Monday about Ivete Sangalo, at Madison Square Garden, misstated a word in the name of the company that promoted the concert. It is Caco de Telha Entertainment, not “del.”

Ryan Has Kept Close Ties to Donors on the Right


This month, as a handful of Republicans auditioned at town halls and on bus tours to be Mitt Romney’s running mate, Representative Paul D. Ryan joined a private conference call. For 20 minutes, he walked through his plan to cut government spending and bashed President Obama for weakening welfare work requirements.

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His audience: Several hundred field organizers for Americans for Prosperity, the Tea Party-inspired group founded by the billionaire conservative philanthropists Charles and David Koch.
When Mr. Romney announced that Mr. Ryan would be his running mate, his campaign emphasized the congressman’s detailed knowledge of the federal budget and his chemistry with Mr. Romney. Less well-known are Mr. Ryan’s close ties to the donors and activists who have channeled Tea Party anger into a $400 million political machine, financed by a network of conservative and libertarian donors that now rivals, and occasionally challenges, the Republican establishment behind Mr. Romney.
Mr. Ryan is one of a very few elected officials who have attended the Kochs’ biannual conferences, where wealthy donors sit in on seminars on runaway government spending and the myths of climate change.
He is on first-name terms with prominent libertarians in the financial world, including hedge fund billionaires like Cliff Asness and Paul Singer, and spent his formative years immersed in the Republican Party’s supply-side wing, working for lawmakers and conservative policy advocates like Jack Kemp.
He has appeared for years at rallies, town hall meetings, and donor briefings for groups like the Club for Growth, which spends millions to defeat Republicans deemed squishy on taxes and spending, and Americans for Prosperity, a grass-roots group focused on economic and budget issues that is now trying to channel Tea Party energy into a permanent electoral force. Its fourth chapter was founded in Mr. Ryan’s home state, Wisconsin.
Now Mr. Ryan could provide Mr. Romney with a critical political and intellectual bridge to the rising conservative counterestablishment represented by the Kochs and their allies, who are planning to spend hundreds of millions of dollars and deploy thousands of volunteers to defeat Mr. Obama. Should Mr. Romney and Mr. Ryan win in November, a constituency that has for years fulminated against the failure of Republicans to live up to their own principles could soon have a close — and powerful — friend in the White House.
“There’s three guys that we courted for president: Paul Ryan, Mitch Daniels, and Mike Pence,” said Matt Kibbe, the president of FreedomWorks, a national advocacy group closely allied with the Tea Party, who worked alongside Mr. Ryan when both were staff aides on the House Budget Committee. “Up until yesterday, there was a 100 percent commitment to fire Obama. There was not a lot of enthusiasm about Romney.” Mr. Daniels is the governor of Indiana, and Mr. Pence is a congressman from Indiana.
Mr. Kibbe added, “From a Tea Party perspective, the overwhelming response on all of our networks has been extremely positive.”
Mr. Ryan’s ties to that world began with a job at Empower America, a group founded by Mr. Kemp that ran “candidate schools” for aspiring conservatives and advocated for a flat tax and lower spending. As a rank-and-file congressman during the presidency of George W. Bush, Mr. Ryan advocated for the privatization of Social Security, helping push the idea toward the Republican mainstream and cementing his reputation as a conservative intellectual.
Privately, Mr. Ryan would later say, he was also stewing over what he and other conservatives viewed as the Bush administration’s fiscal profligacy and ideological drift, including the addition of a drug benefit to Medicare and, later, a bank bailout plan, the Troubled Asset Relief Program. (Mr. Ryan voted for both.)
That dissatisfaction was shared by the Kochs, who in the middle of the last decade began organizing conferences of like-minded donors and founded Americans for Prosperity.
Mr. Ryan, who became House budget chairman in 2006, began attending and speaking at Americans for Prosperity events. In 2008, the Wisconsin chapter gave Mr. Ryan its annual “Defender of the American Dream” award. Mr. Ryan also began attending the Kochs’ annual donor seminars. Last spring, Mr. Ryan was a speaker at a “Hands Off My Health Care” rally organized by Tea Party leaders outside the Capitol, drawing enthusiastic applause.
In Congress, he emerged as a skeptic of mainstream climate change theory — opposition to which has been a top priority of Koch-affiliated activists and research groups — and a reliable vote against energy efficiency standards, including a House vote to prohibit the Environmental Protection Agency from regulating greenhouse gases.
The relationship helped Mr. Ryan’s campaign coffers as well as his career: the Koch Industries PAC has donated more than $100,000 to Mr. Ryan’s campaigns and his leadership PAC, more than has any other corporate PAC, according to a New York Times analysis of campaign records.
Mr. Ryan has also developed relationships with other people in the Koch orbit, like Mr. Asness, a libertarian-minded financier known for his open letters blasting Mr. Obama, and Kenneth Griffin, a Chicago hedge-fund executive: wealthy donors whose taste for number-crunching and policy minutiae match Mr. Ryan’s own.