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Extreme cheapskates: Tightwads revel in frugality

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NEW YORK – Amy VanDeventer has always been a cheapskate. The recession is taking her to new extremes.

Before the economy tanked, she was still wearing maternity clothes from her last pregnancy, clipping coupons and using hand-me-downs to dress her daughters, ages 2 and 3. Now, she's salvaging bagel scraps left on their plates for pizza toppings and cutting lotion bottles in half so she can scrape out the last drops.

"I was already cheap," said VanDeventer, a 36-year-old mortgage loan underwriter from Broomfield, Colo. "Now I am neurotic about it."

If you thought those cheapskate friends and relatives couldn't pinch pennies any tighter, think again. The recession is making tightwads like VanDeventer cut back even more. They're going way beyond sharpening their coupon scissors, replacing already cheap store-brand fabric softener with vinegar and even making their own detergent. VanDeventer was drying her hair in front of a fan after her portable hair dryer broke — until her friends bought her a new one.

The recession is radically changing behavior among many different types of people, from the Wall Street bankers who are now waltzing into Wal-Mart for the first time to buy their groceries to teens who are now thumbing through the piles of status jeans at secondhand shops to save money. And experts say that such behavior could linger long after the economy recovers.

What surprises frugality bloggers is that many cheapskates such as VanDeventer haven't lost their jobs and are not in danger of losing their homes. Many have stashed a good chunk of cash away. But the economic uncertainty is catapulting them to new levels of thriftiness.

"I do it out of fear because I would rather put that money in the bank or purchase something we really need," said VanDeventer, who now saves about 50 percent of her take-home pay, up from 25 percent before the recession began more than a year ago.

The trend is disturbing for merchants, who are already reeling from the sharp pullback by spenders. Such extreme miserly behavior could only worsen the decline in consumer spending.

"Frugal people are now looking at more ways not to spend money," said Lynnae McCoy, who runs a blog called beingfrugal.net, which attracts seasoned penny pinchers. In January, her site received 110,000 hits, up 30 percent from a year ago. What intrigued McCoy was the interest among frugal folks to save even more money by making their own detergent and other household goods.

Elizabeth Schomburg, a credit counselor from Roscoe, Ill., is now replacing store brand softener with vinegar in her laundry. The 31-year-old, who used to comb the 80 percent off sales racks, said she has stopped doing any "recreational buying."

"I am questioning every single purchase," she said.

She's also not stockpiling discounted groceries because she wants to limit how much money she puts out for each trip to the supermarket. That kind of behavior is showing up in fourth-quarter results at companies including foodmaker H.J. Heinz Co., whose sales suffered as consumers are cleaning out their cupboards before buying new items.

Jeff Yeager, author of The Ultimate Cheapskate's Roadmap to True Riches, sees a silver lining to the economic downturn.

"Whatever you do to simplify your life is a good thing," Yeager said. A self-proclaimed cheapskate, he has spent no more than $100 over the past five years on clothing for himself and won't throw anything out until it literally falls apart.

But he's found ways to cut back even more now, such as eating more lentils — which are cheap and nutritious — and biking more to save gasoline. His mantra for buying food? Buy not what you want, but what's affordable at the time.

Unlike many big spenders during the boom years, he says he and other cheapskates are "sleeping easy" these days.

They're also getting some respect from the spenders, who even just a few months ago mocked their thrifty ways.

"My friends used to laugh at me," said Jodi Furman, referring to her obsession with 70 percent off sales and her knack for saving money with coupons.

They're not laughing now. The mother of three from Lake Worth, Fla., parlayed her knowledge into a blog called neverpayretailagain.net last fall. The blog helps shoppers save money on fashionable clothing and healthy food.

"If you can't make more money, then you can spend less — and that's the equivalent of making more money," Furman said.

While she doesn't scrape pizza crumbs or make her own detergent, Furman said she's "laser-focused" when it comes to saving on groceries. She's saving 60 percent to 70 percent off her grocery bills. On a recent trip to Winn-Dixie, she scooped up $63.50 worth of groceries for $16.45. She picked up a box of TLC Cereal bars, regularly priced at $3.99, for $1 — it was on sale for $3 but she used a $2 coupon. She got a $3.99 package of Equal sweetener for free — combining a coupon with the sale price.

Many people are embracing the new challenge of squeezing the most value out of every last penny. Who knew you could make household products such as detergent? McCoy says it's not hard: mix Borax with a half bar of soap, baking soda and its relative washing soda, which cuts grease and can be found in the laundry areas of many supermarkets.

"If you have vinegar, Dawn soap and baking soda, you can pretty much make any cleaning product," McCoy said.

Ohio high schooler sinks 90-foot shot, challenges LeBron



'Sup dawg, we heard you like high school buzzer beaters, so we put a high school buzzer beater in your NBA blog so you can buzz while you watch high school buzzer beaters while we NBA blog. — Xzibit

This past Friday, during an Ohio high school basketball game, Casey Weber of Dayton Christian High School buried a 90-footer as the third-quarter buzzer sounded in a 63-46 victory over Arcanum at the University of Dayton. Yes, you read that correctly: 90 feet! That's 85 feet farther than Erick Dampier's ever dreamed of!

Now, I know what you're thinking: big deal, right? Anyone can win the lottery once. Well, yes and no.

While Weber's heave was definitely a lucky prayer, in practice on Monday at Far Hills Community Church's gymnasium, with the cameras rolling, the 6-foot senior connected again from super deep ... on just his second shot attempt.

So, take a number Joe Johnson, the Weber-LeBron full-court challenge is officially on.

Obama says he accepts 'imperfect' spending bill

President Barack Obama leaves the podium after making remarks on earmark reform, AP – President Barack Obama leaves the podium after making remarks on earmark reform, Wednesday, March 11, …

WASHINGTON – Acknowledging it's an "imperfect" bill, President Barack Obama said Wednesday he will accept a $410 billion spending package that includes billions in earmarks like those he promised to curb in last year's campaign. But he insisted the bill must signal an "end to the old way of doing business."

The massive measure funding federal agencies through the fall contains nearly 8,000 pet projects, known as earmarks and denounced by critics as pork.

Obama defended earmarks when they're "done right," allowing lawmakers to direct money to worthy projects in their districts. But he said they've been abused, and he promised to work with Congress to curb them.

"I am signing an imperfect omnibus bill because it's necessary for the ongoing functions of government," Obama declared. "But I also view this as a departure point for more far-reaching change."

In a sign of his discomfort with the bill, Obama planned to sign the bill quietly rather than in public. He declined to answer a shouted reporters' question about why.

Running for president, Obama denounced the many pet projects as wasteful and open to abuse — and vowed to rein them in.

Explaining his decision, Obama said that future earmarks must have a "legitimate and worthy public purpose", and the any earmark for a private company should be subject to competitive bidding rules. Plus he said he'll "work with Congress" to eliminate any the administration objects to.

But he acknowledged that earmarks have bred "cynicism", and he declared, "This piece of legislation must mark an end to the old way of doing business."

White House officials in recent weeks have dismissed criticism of the earmarks in the bill, saying the legislation was a remnant of last year and that the president planned to turn his attention to future spending instead of looking backward.

White House spokesman Robert Gibbs said Obama wouldn't be the first president to sign legislation that he viewed as less than ideal. Asked whether Obama had second thoughts about signing the bill, Gibbs' reply was curt: "No."

Obama's modest set of reforms builds upon changes initiated by Republicans in 2006 and strengthened by Democrats two years ago. Most importantly, every earmark and its sponsor must be made public.

In new steps — outlined in concert with House Democratic leaders Wednesday morning — the House Appropriations Committee will submit every earmark to the appropriate executive branch agency for a review. And any earmark designed to go to for-profit companies would have to be awarded through a competitive bidding process.

But perhaps the most tangible change may be Obama's promise to resurrect the long-defunct process by which the president proposes to cut spending from bills that he has signed into law.

Under this so-called rescissions process, the White House sends Congress a roster of cuts for its consideration. Congress is free to ignore the cuts, but both Obama and senior members like Appropriations Committee Chairman David Obey, D-Wis., say they want to use it to clean out bad earmarks that make it through the process.

But Obama declined to endorse a stronger process advocated by Sen. John McCain, R-Ariz., and others, that would have required Congress to vote on a presidential rescission earmark package. Senior Democrats dislike the idea even though many of them backed it in the early-to-mid 1990s.

During his presidential campaign, Obama promised to force Congress to curb its pork-barrel-spending ways. Yet the bill sent from the Democratic-controlled Congress to the White House on Tuesday contained 7,991 earmarks totaling $5.5 billion, according to calculations by the Republican staff of the House Appropriations Committee.

The 1,132-page bill has an extraordinary reach, wrapping together nine spending bills to fund the annual operating budgets of every Cabinet department except Defense, Homeland Security and Veterans Affairs. Among the many earmarks are $485,000 for a boarding school for at-risk native students in western Alaska and $1.2 million for Helen Keller International so the nonprofit can provide eyeglasses to students with poor vision.

Most of the government has been running on a stopgap funding bill set to expire at midnight Wednesday. Refusing to sign the newly completed spending bill would force Congress to pass another bill to keep the lights on come Thursday or else shut down the massive federal government. That is an unlikely possibility for a president who has spent just seven weeks in office.

The $410 billion bill includes significant increases in food aid for the poor, energy research and other programs. It was supposed to have been completed last fall, but Democrats opted against election-year battles with Republicans and former President George W. Bush.

Teen gunman kills self after slaying 15 in Germany

Pupils stand in front of the Albertville school in Winnenden near Stuttgart, AP – Pupils stand in front of the Albertville school in Winnenden near Stuttgart, Germany, Wednesday, March …

WINNENDEN, Germany – A 17-year-old gunman dressed in black opened fire inside his former high school in southwestern Germany on Wednesday killing 15 people, 11 of them women and girls, before turning the gun on himself, authorities said.

Police said the attacker's father, a gun club member, owned 16 guns, one of which was missing.

The gunman entered the school in Winnenden at 9:33 a.m. after classes had begun and opened fire, shooting at random, police said. He killed nine students, three teachers and a passer-by outside the building, officials said. Two other people were killed later.

"He went into the school with a weapon and carried out a bloodbath," said regional police chief Erwin Hetger. "I've never seen anything like this in my life."

Triggering a land and air manhunt, the gunman hijacked a car and forced the driver to head south, sitting in the back seat, according to Stuttgart prosecutors, who are leading the investigation.

When the driver swerved off the road to avoid a police checkpoint, he managed to escape and the suspect, identified only as Tim K., ran into an industrial area in the town of Wendlingen with police in pursuit.

There he entered an auto dealership, shooting and killing a salesman and a customer, and then went back outside, prosecutors said.

"In front of the auto dealership the young man then opened fire toward the many police vehicles," prosecutors said. "A gunbattle ensued between the 17-year-old and the many police involved in the pursuit of him. According to our current information, the 17-year-old then shot himself."

Two police officers suffered serious but not life-threatening injuries.

Police said the suspect was a German teen who graduated last year from the school of about 1,000 students.

No motive has been identified. The victims were primarily female. Of the students killed, eight were girls and one was a boy. All three teachers were women. The victims at the auto dealership were men, as was the passer-by who was shot near the school.

In their hunt for the gunman, police searched his parents' home in a nearby town. The suspect's father, who is a member of a local gun club, had 16 firearms, one of which was missing, police said.

Police identified the weapon used in the attack as a high-caliber pistol.

The death toll was close to that of Germany's worst school shooting.

In the 2002, 19-year-old Robert Steinhaeuser shot and killed 12 teachers, a secretary, two students and a police officer before turning his gun on himself in the Gutenberg high school in Erfurt, in eastern Germany.

Steinhaeuser, who had been expelled for forging a doctor's note, was a gun club member licensed to own weapons. The attack led Germany to raise the age for owning recreational firearms from 18 to 21.

German Chancellor Angel Merkel called the shooting "a horrific crime."

"It is hard to put into words what happened today, but our sadness and sympathy goes out to the victims' families," Merkel said at a news conference.

The European Parliament, meeting in Strasbourg, France, stood in silence for a minute, to honor the victims.

"It is our task as responsible politicians in the European Union and, indeed, all the member states to do our utmost that such deeds can be prevented," said EU assembly president Hans-Gert Pottering, a German.

Clinton, Chinese minister meet amid sea tensions

Secretary of State Hillary Rodham Clinton, right, walks with Chinese Foreign AP – Secretary of State Hillary Rodham Clinton, right, walks with Chinese Foreign Minister Yang Jiechi, Wednesday, …

WASHINGTON – The United States and China looked to ease tensions over a confrontation between American and Chinese vessels in the South China Sea as Secretary of State Hillary Rodham Clinton met Wednesday with her Chinese counterpart.

Before their private meeting, neither Clinton nor Chinese Foreign Minister Yang Jiechi mentioned the countries' dispute, even as China's Foreign Ministry in Beijing fired back for a second consecutive day at U.S. complaints that Chinese vessels harassed a U.S. Navy mapping ship in international waters on Sunday.

Clinton told reporters that Yang's visit to the State Department was a "very positive" development, and she looked forward to continuing discussions she had with Yang during her well-received trip to Beijing last month.

Yang said, "We are here to get prepared for our two heads of state meeting in London and to work together to push our relationship forward," referring to a crucial early April meeting in London between President Barack Obama and Chinese President Hu Jintao.

The South China Sea incident, however, would be very likely to come up in private talks, State Department spokesman Robert Wood told reporters before the meeting.

"From time to time, there are going to be elements that come up that cause some tension," Wood said. "But the most important thing is that the U.S. and China need to work together to solve a whole host of issues that the international community confronts."

Defense Department press secretary Geoff Morrell told a Pentagon news conference that the United States hopes that "face-to-face dialogue in Beijing and in Washington will go a long way to clearing up any misunderstanding about this incident."

Even if diplomatic efforts by Clinton and Yang are successful in toning down the dispute, however, it may be only a temporary lull in a larger military disagreement.

Beijing has long complained about U.S. surveillance operations around China's borders. Without better communications between the two militaries as they operate in the South China Sea, the possibility for future conflict will remain.

Clinton and Yang "can have a productive exchange to keep this bounded, but the real bureaucracies that need to be there aren't going to be at the meeting," said Jonathan Pollack, professor of Asian studies at the U.S. Naval War College.

He suggested that without stronger military-to-military links, the potential for "something ugly" happening "should not be minimized."

On Wednesday, China's Foreign Ministry in Beijing reiterated that the U.S. claims are "gravely in contravention of the facts and unacceptable to China." Beijing says the U.S. ship was operating illegally in China's exclusive economic zone.

U.S. defense officials said Tuesday that the Navy ship was looking for threats such as submarines, presumably Chinese. The officials spoke on condition of anonymity because details of the ship's exact capabilities are sensitive information. Other U.S. officials have said publicly that the United States will continue to patrol in the South China Sea despite Chinese objections.

U.S. National Intelligence Director Dennis Blair told lawmakers Tuesday that the incident was the most serious episode between the two nations since 2001, when China forced the landing of a U.S. spy plane and seized the crew.

Yang also was scheduled to meet with U.S. Treasury Secretary Timothy Geithner and with White House officials, the State Department said.

The rising tension comes as the Obama administration tries to get Chinese help on a host of foreign policy matters, including efforts to confront Iran and North Korea over their nuclear programs.

APNewsBreak: DA says Ala. shooter had revenge list

Family members of victims of a shooting rampage comfort each other outside a
AP – Family members of victims of a shooting rampage comfort each other outside a home on Pullum Street in …

SAMSON, Ala. – A man who killed 10 people in two rural Alabama counties before committing suicide had been keeping a list of those "who done him wrong," a district attorney said Wednesday.

Investigators trying figure out why Michael McLendon, 28, killed relatives and others Tuesday afternoon found the list in his home, Coffee County District Attorney Gary McAliley said. The list was made up of former employers, including a sausage plant where he suddenly quit his job last Wednesday.

"We found a list of people he worked with, people who had done him wrong," said McAliley in a brief interview outside his mother's house where the rampage begain.

The killings were the worst mass killings by a single gunman in Alabama state history, and devastated rural communities in two counties near the Florida border. While the list was one of several perplexing clues that emerged Wednesday about McClendon's life, authorities couldn't say what set him off.

And the people who might be able to explain — his mother, his grandmother, his uncle and two cousins — were among the victims. A witness said the four had no time to react when McClendon wordlessly and expressionlessly pulled his car up to a house where they were sitting and opened fire.

The rampage started around 3:30 p.m. Tuesday, and took only about an hour from start to finish. In that time, McClendon sprayed more than 200 rounds, authorities said.

First, McLendon set his mother's house on fire and killed her, then drove 12 miles and opened fire on his uncle's front porch, killing five more people and his grandmother, who lived next door, authorities said. Then, he drove through town and fired seemingly at random, killing three more people. With police in pursuit, he ended up at the metals plant where he once worked, and shot himself after engaging in a shootout with law enforcement officers.

"He cleaned his family out," Coffee County Coroner Robert Preachers said.

McLendon was briefly employed by the police department in Samson in 2003 and spent about a week and a half at the police academy, dropping out before he received firearms training, said Col. Chris Murphy, director of the Alabama Department of Public Safety. More recently, he worked nearly two years at food manufacturer and distributor Kelley Foods in Elba, about 25 miles north of where he shot most of his victims.

The company didn't specify what his position was, but said in a statement that he was a "reliable team leader" who was well liked, but quit last Wednesday.

Though Kelley Foods said he left voluntarily, the company was on the list of people he felt had slighted him, said McAliley. So were another of his employers, Reliable Metals in Samson, and a Pilgrim's Pride plant near Enterprise where his mother had worked. The district attorney said the mother had recently been laid off from the plant.

McClendon worked at Reliable Metal Products until 2003, when Geneva County District Attorney Kirke Adams said he was forced to resign. A co-worker there, Jerry Hysmith, echoed Kelley Foods' description, saying McClendon was shy, quiet and laid-back.

"Something had to snap," said Hysmith, 35, who lives in Samson, and worked with McClendon in 2001.

The victims were identified as McLendon's mother, Lisa McLendon, 52; his uncle, James Alford White, 55; his cousin, Tracy Michelle Wise, 34; a second cousin, Dean James Wise, 15; and his grandmother, Virginia E. White, 74. Also killed were James Irvin Starling, 24; Sonja Smith, 43; and Bruce Wilson Malloy, 51.

The wife and daughter of Geneva County Deputy Josh Myers, who was one of the law enforcement officers involved in the chase for McLendon, also died in the shooting spree. Andrea D. Myers, 31, was visiting the home with 18-month old Corrine Gracy Myers and 4-month-old Ella Myers when the shooting began.

Ella was flown to a hospital in Pensacola and was awaiting surgery for a wound to the leg caused by either a bullet or shrapnel. She was in fair condition, authorities said.

"I cried so much yesterday, I don't have a tear left in me," said the girl's father, who did not know McClendon. "I feel like I should be able to walk in the house and my wife would be there, my baby girl climbing on me."

The first killed Tuesday was McClendon's mother. Authorities said he put her on an L-shaped couch, piled stuff on top of her and set her afire. He said McClendon also shot four dogs at the house.

A dozen miles away, he gunned down the other relatives and sent panicked bystanders fleeing and ducking behind cars. His uncle's wife, Phyllis White, sought refuge in the house of neighbor Archie Mock.

"She was just saying, `I think my family is dead, I think my family is dead,'" said Mock, 55.

Neighbor Tom Knowles saw McClendon pull up and begin firing without saying a word, leaving his victims no time to react.

"He had no expression — just dead," he said.

McClendon went inside the house and chased Phyllis White out before driving off, Knowles said. He returned moments later in his car as if he were still looking for her. The witness then made eye contact with him.

"He had cold eyes. There was nothing. I hollered at him. I said, 'Look, boy, I ain't done nothing to you,'" Knowles said. McLendon then drove off.

After the gunman left, Knowles said he and his daughter found the baby Ella bleeding: "The only thing that was alive was the 3-month-old baby."

McClendon shot more victims at random as he drove toward the metals plant where he once worked. Smith was struck down as she walked out of a gas station. Malloy was hit while driving. Starling was shot as he walked.

At the Reliable plant, McClendon got out of his car and fired at police with his assault rifle, wounding Geneva Police Chief Frankie Lindsey, authorities said. He then walked inside and killed himself.

Once investigators got a look at the ammunition he was carrying, they feared the bloodshed could have been worse. "I'm convinced he went over there to kill more people. He was heavily armed," said Coffee County Sheriff Dave Sutton.

The community was still in shock Wednesday.

"This was 20-something miles of terror in my district," said State Sen. Harri Anne Smith, R-Slocomb.

___

Associated Press Writers Garry Mitchell in Mobile and Bob Johnson in Montgomery contributed to this report.





4 states see double-digit jobless rates in Jan.

Unemployment Rate Highest Since 1983
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Lawmakers told stimulus will create fewer jobs
AFP/Getty Images/File – Unemployed construction workers demonstrate outside the offices of a Los Angeles lawmaker in California. …

WASHINGTON – Four states — California, South Carolina, Michigan and Rhode Island — registered unemployment rates above 10 percent in January, and the national rate is expected to hit double digits by year-end.

The U.S. Labor Department's report on state unemployment, released Wednesday, showed the increasing damage inflicted on workers and companies from a recession, now in its second year. Some economists now predict the U.S. unemployment rate will hit 10 percent by year-end, and peak at 11 percent or higher by the middle of 2010.

In December, only Michigan had a double-digit jobless rate. One month later, four states did and that doesn't count Puerto Rico, which saw its unemployment rate actually dip to 13 percent in January, from 13.5 percent in December.

California's unemployment rate jumped to 10.1 percent in January, from 8.7 percent in December, as jobs have disappeared in the construction, finance and retail industries.

Michigan's jobless rate jumped to 11.6 percent in January, the highest in the country. The second-highest jobless rate was South Carolina at 10.4 percent. Rhode Island was next at 10.3 percent, which marked an all-time high for the state in federal records dating to 1976. California rounded out the top four.

Forty-nine states and the District of Columbia registered unemployment rate increases. Louisiana was the only state to record a monthly drop. Its unemployment rate fell to 5.1 percent in January from 5.5 percent in December.

The U.S. unemployment rate, released last week, rose to 8.1 percent in February, the highest in more than 25 years.

Employers are laying off workers, holding hours down and freezing or cutting pay as the recession eats into sales and profits.

Disappearing jobs and evaporating wealth from tanking home values, 401(k)s and other investments have forced consumers to retrench, driving companies to shrink their work forces. It's a vicious cycle in which all the economy's problems feed on each other, worsening the downward spiral.

And more layoffs are on the way. National Semiconductor Corp. said Wednesday it will lay off 1,725 employees, more than one-quarter of its work force, after third-quarter profits fell 71 percent.

Industrial conglomerate United Technologies Corp., which makes Otis elevators and Sikorsky helicopters, said Tuesday it will lay off 11,600 workers, or 5 percent of its work force. Dow Chemical Co. on Monday said it would cut 3,500 jobs at chemical company Rohm & Haas Co. as part of its $15 billion buyout of the company.

President Barack Obama has urged Americans to be patient, saying it will take time for his economic revival and job-creation programs to bear fruit.

Obama is counting on a multipronged assault to lift the country out of recession: a $787 billion stimulus package of increased federal spending and tax cuts, a revamped bailout program for troubled banks and a $75 billion effort to stem home foreclosures.

Nationwide, the recession has claimed a net total of 4.4 million jobs since December 2007, and has left 12.5 million people searching for work — more than the population of Pennsylvania.

The state unemployment report also showed that North Carolina and Oregon — along with South Carolina — notched the biggest monthly gains of 1.6 percentage-points each.

North Carolina's rate soared to 9.7 percent in January, from 8.1 percent in December, while Oregon jumped to 9.9 percent, from 8.3 percent.

Meanwhile, Georgia's jobless rate climbed to 8.6 percent in January, an all-time high on federal records.

On a brighter note, Wyoming continued to register the lowest unemployment rate — 3.7 percent.

Chris Brown removes name from Kids Choice Awards

NEW YORK – There won't be any awkward Chris Brown moment at the Kids' Choice Awards — the embattled pop star has withdrawn his name from the ballot.

Brown had been nominated for favorite male singer and favorite song for "Kiss Kiss" at the March 28 awards show on Nickelodeon. The nominations came shortly before his arrest for allegedly attacking girlfriend and fellow pop star Rihanna.

A petition had been circulated to take his name off the ballot, but Nickelodeon said yesterday he was still on. On Wednesday, Brown decided to take his name out of consideration.

In a statement, his representatives said while Brown would like to speak directly to his fans, he can't because of his criminal case.

He thanked his fans for their support.

Tyra's true confession

We'll lay it on the line right from the get-go. There's NOT a lot that people don't know about Tyra Banks. After all, she exposes herself a gazillion times a week for all the world to see on her talk and reality shows. If anyone knows how to talk about herself, it's Tyra. Still, we were able to unearth a few gems about America's Top Self-Promoter that you probably don't know.

Star Misses: 10 Career-Changing Roles That Almost Weren't

Nicole Kidman in "The Reader"? Gwyneth Paltrow aboard "Titanic"? How some of the biggest names in Hollywood lost out on some of its biggest roles. Imagine Nicole Kidman accepting the Academy Award for the role of Hanna Schmitz in "The Reader." Or Gwyneth Paltrow boarding the "Titanic." Or how about "The Graduate" with Robert Redford playing Benjamin Braddock -- instead of Dustin Hoffman.

Those were studios' early choices to fill these legendary film roles. Hard to believe? Little wonder: "The essence of a good casting decision is that you simply take it for granted," says Janet Hirshenson, a casting agent behind some of Hollywood's biggest films, including "A Beautiful Mind," "When Harry Met Sally" and "A Few Good Men."

In Pictures: 10 Career-Changing Roles That Almost Weren't >>

"I think that when it all comes together and it works [you couldn't] imagine anybody else," adds Jane Jenkins, Hirshenson's casting partner and co-author of "A Star Is Found: Our Adventures of Casting Some of Hollywood's Biggest Movies." "It only sticks out like a sore thumb when it doesn't work, but usually those movies don't do well enough for anybody to even notice."

In the ever competitive entertainment industry, making the right casting call is crucial to a film's financial success. Opening-weekend box office figures have become an increasingly vital measure of a project's long-term viability, and a star can make or break a vehicle. That is why the casting director, who works with the director, producer and studio executives, has such an enormous responsibility.

It's also why the same stars wind up on seemingly every casting director's list. After all, there's only a select cadre of actors who can not only help secure funding but also bring in those box office dollars. Of late, that group consists of a handful of names -- all of them male -- among them, Tom Hanks, Will Smith and Matt Damon.

According to Hirshenson and Jenkins, actors typically pass on these starring roles for one of two reasons: money or time. More specifically, they can't get enough of the former or they don't have enough of the latter. Other times stars are simply uninterested -- or even uncomfortable -- with the role they're being asked to play; when you're on the industry's A-list, you're allowed to be picky.

Take Mark Wahlberg, who has admitted to declining the starring role in 2005's "Brokeback Mountain." "The Departed" actor told the press he turned down the opportunity because he was "a little creeped out" by the gay cowboy storyline and sex scene.

Wise move? Probably not. The critically acclaimed film scored Heath Ledger an Oscar nod and generated nearly $180 million at the worldwide box office, according to Web site Box Office Mojo.

More recently, Australian star Nicole Kidman was forced to bow out of Stephen Daldry's postwar-Germany drama "The Reader" for reasons having little to do with the film itself; she became pregnant.

Fortunately, "Titanic" star Kate Winslet was able and willing to take her place, and the casting decision proved a boon for the English actress: She took home her first Oscar for the challenging role at this year's Academy Awards.

Obama overturns Bush policy on stem cells

AP – President Barack Obama is applauded by members of Congress, and others, after signing an Executive Order …
WASHINGTON – President Barack Obama on Monday cleared the way for a significant increase in federal dollars for embryonic stem cell research and promised no scientific data will be "distorted or concealed to serve a political agenda."



Obama signed the executive order on the divisive stem cell issue and a memo addressing what he called scientific integrity before an East Room audience packed with scientists. He laced his remarks with several jabs at the way science was handled by former President George W. Bush.

"Promoting science isn't just about providing resources, it is also about protecting free and open inquiry," Obama said. "It is about letting scientists like those here today do their jobs, free from manipulation or coercion, and listening to what they tell us, even when it's inconvenient
especially when it's inconvenient. It is about ensuring that scientific data is never distorted or concealed to serve a political agenda and that we make scientific decisions based on facts, not ideology."

He said his memorandum is meant to restore "scientific integrity to government decision-making." He called it the beginning of a process of ensuring his administration bases its decision on sound science; appoints scientific advisers based on their credentials, not their politics; and is honest about the science behind its decisions.

Fulfilling a campaign promise, Obama signed the order that on stem cell research that supporters believe could uncover cures for serious ailments from diabetes to paralysis. Proponents from former first lady Nancy Reagan to the late actor Christopher Reeve had pushed for ending the restrictions on research.

Obama paid tribute to Reeve, calling him a tireless advocate who was dedicated to raising awareness to the promise of research.

Obama's action reverses Bush's stem cell policy by undoing his 2001 directive that banned federal funding for research into stem lines created after Aug. 9, 2001.

The president said his administration would work aggressively to make up for the ground he said was lost due to Bush's decision, though it can't be known how much more federal money will be spent on the research until grants are applied for and issued.

"Medical miracles do not happen simply by accident," Obama declared.

Embryonic stem cells are master cells that can morph into any cell of the body. Scientists hope to harness them so they can create replacement tissues to treat a variety of diseases — such as new insulin-producing cells for diabetics, cells that could help those with Parkinson's disease or maybe even Alzheimer's, or new nerve connections to restore movement after spinal injury.
House Minority Leader John Boehner, R-Ohio, criticized Obama, saying in a statement that the president had "rolled back important protections for innocent life, further dividing our nation at a time when we need greater unity to tackle the challenges before us."

Bush limited the use of taxpayer money to only the 21 stem cell lines that had been produced before his decision. He argued he was defending human life because days-old embryos — although typically from fertility clinics and already destined for destruction — are destroyed to create the stem cell lines.

The Obama order reverses that without addressing a separate legislative ban, which precludes any federal money for the development of stem cell lines. The legislation, however, does not prevent funds for research on those lines created without federal funding.

Researchers say the newer lines created with private money during the period of the Bush ban are healthier and better suited to creating treatment for diseases.

Obama called his decision a "difficult and delicate balance," an understatement of the intense emotions generated on both sides of the long, contentious debate. He said he came down on the side of the majority of Americans who support increased federal funding for the research, both because strict oversight would prevent problems and because of the great and lifesaving potential it holds.

"Rather than furthering discovery, our government has forced what I believe is a false choice between sound science and moral values," Obama said. "In this case, I believe the two are not inconsistent. As a person of faith, I believe we are called to care for each other and work to ease human suffering."

Obama warned against overstating the eventual benefits of the research, but he said his administration "will vigorously support scientists who pursue this research," taking another slap at Bush in the process.

"I cannot guarantee that we will find the treatments and cures we seek. No president can promise that. But I can promise that we will seek them actively, responsibly, and with the urgency required to make up for lost ground," he said.

It's a matter of competitive advantage globally as well, the president argued.
"When government fails to make these investments, opportunities are missed. Promising avenues go unexplored," Obama said.

But the president was insistent that his order would not open the door to human cloning.
"We will develop strict guidelines, which we will rigorously enforce, because we cannot ever tolerate misuse or abuse," Obama said. "And we will ensure that our government never opens the door to the use of cloning for human reproduction. It is dangerous, profoundly wrong, and has no place in our society, or any society."

U.S. says Chinese vessels harassed Navy ship

Reuters – Chinese People's Liberation Army naval troops stand in attention at a parade ground during the annual …
WASHINGTON (Reuters) – Five Chinese ships including a Chinese naval vessel harassed a U.S. Navy ship in the South China Sea on Sunday, at one point closing to within 25 feet of the ocean surveillance ship, the Pentagon said.

A Defense Department statement said the Chinese vessels "shadowed and aggressively maneuvered in dangerously close proximity" to the USS Impeccable, which was conducting routine operations in international waters 75 miles south of Hainan Island.

The Pentagon identified the Chinese vessels as a Navy intelligence ship, a bureau of maritime fisheries patrol vessel, a state oceanographic administration patrol vessel, and two small Chinese-flagged trawlers.


The Pentagon said the U.S. ship was operated by a civilian crew under contract with the Defense Department and accused the Chinese vessels of violating international law.

"We will be certainly letting the Chinese officials know of our displeasure with respect to this careless and reckless, unprofessional ... maneuver," Pentagon spokesman Bryan Whitman told reporters.

Two Chinese vessels surrounded the Impeccable, while two closed to within 50 feet waving Chinese flags and telling the U.S. Navy ship to leave, the statement said.

The Navy ship responded by spraying one of the vessels with its fire hoses, but the Chinese ship closed further to within 25 feet and its crew members disrobed to their underwear, the Pentagon said.

It said the Impeccable informed the Chinese ships by radio that it was leaving the area and requested a safe path to navigate. But two of the Chinese vessels stopped directly in front of the U.S. ship and dropped pieces of wood in its path.

"The unprofessional maneuvers by Chinese vessels violated the requirement under international law to operate with due regard for the rights and safety of other lawful users of the ocean," Pentagon spokesman Marine Corps Major Stewart Upton said in a statement.

"We expect Chinese ships to act responsibly and refrain from provocative activities that could lead to miscalculation or a collision at sea."

The Pentagon said the incident was preceded by days of increasingly aggressive conduct by Chinese vessels.

(Additional reporting by Andrew Gray, Editing by Sandra Maler)

Merck buying Schering-Plough in a $41.1B deal

TRENTON, N.J. (AP) -- Merck & Co. is buying Schering-Plough Corp. for $41.1 billion in a deal that gives Merck key new businesses, access to a promising pipeline of new products and the chance to further cut costs, including eliminating about 16,000 jobs.

AP - In this May 22, 2008 file photo, Merck & Co. headquarters is seen in Whitehouse Station, N.J. ...
Merck hopes the cash-and-stock deal helps it better compete in a drug industry facing slumping sales, tough generic competition and intense pricing pressures.

The deal announced Monday would unite the maker of asthma drug Singulair with the maker of allergy medicine Nasonex and form the world's second-largest prescription drugmaker. Merck and Schering are already partners in a pair of popular cholesterol fighters, Vytorin and Zetia, although concerns about safety and effectiveness have hurt sales.





Shares of the two companies traded furiously after the announcement, with Schering's shares skyrocketing and Merck's dropping, typical for a company doing a big acquisition. At midday, Schering shares jumped $2.53, or 14.4 perent, to $20.16, and Merck shares fell $2.19, or 9.6 percent to $20.55.

The deal comes only a few weeks after Lipitor maker Pfizer Inc. agreed to pay $68 billion for drugmaker Wyeth.

Merck and Schering-Plough, along with most of their rivals, are eliminating thousands of jobs and restructuring operations to cut costs.

"There'll be no immediate changes" in staffing, Merck spokeswoman Amy Rose told The Associated Press. "Eventually, we anticipate an approximate 15 percent reduction in the combined company's headcount," implying nearly 16,000 fewer jobs.

The deal also would let Merck do the same thing Pfizer is trying to do with its acquisition -- diversify into a more broad-based health care company.

Merck is a top maker of pills and vaccines, and acquiring Schering-Plough will add strength in the prized area of biologic drugs, which are made from living cells. It will also give Merck one of the world's biggest animal health businesses and a sizable consumer health division that includes products such as allergy pill Claritin, Dr. Scholl's foot products and the Coppertone sun-care line.
Merck Chairman and CEO Richard Clark told The Associated Press the company will be "well-positioned for sustainable growth through scientific innovation."

Big drugmakers are facing slumping sales as the blockbuster drugs of the 1990s lose patent protection, complicated by a dearth of new drugs. Schering-Plough, however, has patent protection for key products until the middle of the next decade and what is considered one of the best product pipelines.

Still, analyst Steve Brozak of WBB Securities said the deal is mainly about Merck "buying revenue and buying earnings."
"It's a good short-term fix, but it unfortunately makes it more complicated for the long term," Brozak said.

He said it will now be more difficult for Merck to continue its strategy of buying or licensing the few promising experimental compounds available from small biotech companies, many of which are on the verge of shutting down amid the recession and credit crunch.

Brozak said he thinks the next big move likely will be a large drugmaker, perhaps J&J itself, acquiring a medical device maker. J&J already has a huge business in that field and lost a heated battle three years ago to acquire heart implant maker Guidant to Boston Scientific.

Merck and Schering-Plough said the deal will save them about $3.5 billion per year after 2011 and will boost earnings in the first full year after the deal closes. Combined with their current restructuring, they expect a total of $5.95 billion in annual savings after 2011.

"We'll double Merck medicines in (late-stage development) to 18," Clark added.
Schering-Plough CEO Fred Hassan said in an interview that Nasonex, Pegintron for hepatitis, cancer drug Temodar, the Nuvaring contraceptive and the two cholesterol drugs all have patent protection until 2014 or later.

The two companies had a combined $47 billion in revenue in 2008, nearly as much at the largest drugmaker, Pfizer Inc., which posted $48.42 billion last year. Pfizer expects late this year to acquire Wyeth, which would add more than $20 billion in revenue.

Merck has about 55,200 employees and Schering-Plough, which grew significantly with its November 2007 acquisition of Dutch biopharmaceutical company Organon BioSciences NV, has about 50,800.

Schering-Plough shareholders will get $10.50 in cash and 0.5767 Merck shares for each Schering-Plough share they own. That's a 34 percent premium to Schering-Plough's closing stock price Friday.

Stock would cover 56 percent of the deal's funding, with the other 44 percent in cash: $9.8 billion in existing cash balances and $8.5 billion in financing committed by JPMorgan Chase & Co., the companies said. The small amount being borrowed -- barely 20 percent of the price -- is a sign of the credit crunch's effects.

Clark will lead the combined company, which will be a dominant player in treatment areas including cholesterol, respiratory, infectious disease and women's drugs, as well as vaccines.
Schering sells the arthritis drug Remicade outside the U.S. and also has some rights to another in late-stage development, golimumab, under a partnership with Johnson & Johnson, which makes Remicade.

Because Schering has been making roughly $2 billion a year from that deal, Merck's acquisition of Schering-Plough is structured as a reverse merger to avoid triggering provisions in the J&J deal that might cost the new company that revenue.

As a result, Schering-Plough will be the surviving corporation but will take the Merck name and will be based at Merck's headquarters in Whitehouse Station, N.J.

Hassan said the three companies have a good relationship and that he "had a cordial conversation with Bill Weldon," New Brunswick, N.J.-based J&J's CEO, Monday morning.
Brozak, the analyst, said "it's always possible" J&J could throw a wrench in the deal, but it's too soon to say.

A Johnson & Johnson spokesman did not immediately return a call seeking comment.
Stock analysts have long pressured Clark to do a major deal to address falling sales, as blockbusters including Fosamax and Zocor for high cholesterol have seen generic competition hammer sales in the past 2 1/2 years.

Hassan will participate in planning how to combine the companies until the deal closes, expected in the fourth quarter.

Merck's sales fell 3 percent in the fourth quarter, at $6 billion, while Schering-Plough's rose 17 percent to $4.35 billion, mainly because of Organon's products.

Moody's Investors Service backed its Aa3 credit rating for Merck but revised its outlook on the rating to negative from stable. Standard & Poor's reaffirmed Merck's 'AA,' long-term rating. Both are high grades. Both Moody's and S&P put Schering-Plough's ratings on review for possible upgrade.


Citi spends $3.5M to reward Smith Barney brokers


AP – In this Jan. 15, 2009 file photo, a Citi Smith Barney logo is shown at the bank's office in New York. …
NEW YORK – Embattled banking giant Citigroup Inc. spent about $3.5 million to provide rewards for top-performing advisers at its Smith Barney brokerage unit.

The payments are in lieu of three trips Citi usually plans for its top revenue-generating advisers in the division. Those trips were canceled earlier in the year as Citi attempts to slash costs amid the ongoing economic downturn. Citi has posted five consecutive quarterly losses and received $45 billion in government assistance during the ongoing credit crisis and recession.

Many major financial firms that have received government funding in recent months have drastically scaled back spending on events and perks for employees amid growing anger from politicians in Washington about how they spend money.

Citi said none of the money from the government investment is being used for the rewards.
"This program is funded by operating revenue of Smith Barney and achieves a nearly 80 percent cost saving over some previous recognition programs," Citi spokesman Alex Samuelson said Monday.

Smith Barney generated $2.3 billion in revenue during the final quarter of 2008, a 17 percent decline from the same quarter a year earlier. For the year, revenue fell 3 percent to $10.24 billion.

Smith Barney's top 500 brokers received $3,000 debit cards, according to a story on the bonuses reported Monday by the New York Post. An additional 500 received cards for $2,000 each, with another group receiving $1,000 each.

"We will prudently balance the recognition and development needs of our best advisers with the need to manage our business during this difficult environment," Samuelson said.

As part of its ongoing plans to reduce assets and try to regain profitability, Citi is selling a majority stake in Smith Barney to Morgan Stanley. The pair will merge their brokerage operations into a joint venture, with Morgan Stanley owning a majority stake in the firm.

Late last month, Citigroup and the Treasury Department agreed on a deal that will give the government up to a 36 percent stake in Citi. The government, along with other private investors, will convert some of their $45 billion in preferred stock into common shares. If the maximum amount of preferred stock is converted, current common stockholders will see their ownership stake fall to about 26 percent.

Citi has been among the hardest hit banks by rising loan losses and defaults as well as write-downs on the value of certain investments, especially those tied to the souring residential real estate market.

Shares of Citi were steady at $1.03 in late morning trading Monday. They have traded as low as 97 cents and are down 96 percent from their 52-week high of $27.35 last April 28.

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