Factbox: Northeast service suspensions due to Hurricane Sandy

(Reuters) - As the U.S. Northeast recovers from Hurricane Sandy, the following is a list of service updates for New York, New Jersey and the District of Columbia:

More than 18,100 flights have been canceled and that number is expected to rise, according to flight tracker FlightAware.com.

The Port Authority of New York and New Jersey said JFK and Newark airports will open at 7 a.m. on Wednesday with limited service, while LaGuardia remains closed.

Dulles and Reagan airports near Washington, D.C., resumed a limited number of flights Tuesday and many airlines were likely to resume operations on Wednesday. Some flights were operating at Philadelphia International Airport and Boston's Logan Airport.

US Airways Group Inc was expected to resume service on Wednesday at most airports except LaGuardia, JFK and Newark.

American Airlines has flights scheduled into Richmond, Virginia, several Ohio airports, Pittsburgh and Boston on Tuesday. It said flights may not operate into LaGuardia, JFK and Newark on Wednesday.

United Airlines said the weather had delayed its planned resumption of service at Newark, but it plans to resume inbound flights there on Wednesday if conditions allow.

JetBlue Airways planned to have arrivals only at JFK on Wednesday, and would advise on resuming service at other New York area airports. Delta Air Lines said flights had resumed at East Coast airports outside the New York area and it planned limited domestic flights to JFK Wednesday afternoon.

Amtrak said it will provide modified service between Newark, N.J., and points south on Wednesday, but it did not have a date for restoring service directly to New York City because of water in its tunnels under the Hudson and East rivers.

Greyhound said it would resume limited service to Washington, Baltimore, and Philadelphia by Wednesday morning, but would not operate to New York or Atlantic City.

New Jersey PATH trains are likely to be suspended for at least a week to 10 days, Governor Chris Christie said on Tuesday.

New York City Subway is unlikely to resume service before four or five days, New York Mayor Mike Bloomberg said on Tuesday.

Mayor Bloomberg said the city hoped to begin limited bus service on Tuesday and restore full service on Wednesday. New York Governor Andrew Cuomo said separately that all bus fares would be suspended on Tuesday.

New Jersey Transit, the Metro-North Railroad and the Long Island Railroad were working to restore service to the damaged rail lines, the Metropolitan Transit Authority said.

Bloomberg ordered evacuation on Sunday of the city's zone A that included areas close to the water. The city said shelters would remain open until residents could safely return to their homes.

New York City schools are closed on Wednesday. District of Columbia schools will open on Wednesday.

Federal government offices in the Washington, D.C., area and the District of Columbia's local government will reopen on Wednesday.

Metro rail and bus service in and around Washington, D.C., began running on modified schedules on Tuesday afternoon and were expected to return to normal service on Wednesday, according to the Washington Metropolitan Area Transit Authority.

MARC commuter train service which connects Washington, D.C., with cities in Maryland and West Virginia, will resume on Wednesday.

Maryland state government facilities were closed on Tuesday. Maryland canceled early voting service on Monday and Tuesday for the November 6 U.S. presidential election. The state set a makeup early voting day for Friday.

New Jersey's Atlantic City casinos were ordered to close on Sunday. They are expected to remain closed as long as a state of emergency exists.

(Reporting by Caroline Humer, Michael Erman, Emily Stephenson; Compiled by Sinead Carew and Tabassum Zakaria; Editing by Stacey Joyce, Christopher Wilson and Richard Pullin)

Source: http://news.yahoo.com/factbox-northeast-suspensions-due-hurricane-sandy-024852295.html

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New technique connects multi-walled carbon nanotubes

ScienceDaily (Oct. 29, 2012) ? Using a new method for precisely controlling the deposition of carbon, researchers have demonstrated a technique for connecting multi-walled carbon nanotubes to the metallic pads of integrated circuits without the high interface resistance produced by traditional fabrication techniques.

Based on electron beam-induced deposition (EBID), the work is believed to be the first to connect multiple shells of a multi-walled carbon nanotube to metal terminals on a semiconducting substrate, which is relevant to integrated circuit fabrication. Using this three-dimensional fabrication technique, researchers at the Georgia Institute of Technology developed graphitic nanojoints on both ends of the multi-walled carbon nanotubes, which yielded a 10-fold decrease in resistivity in its connection to metal junctions.

The technique could facilitate the integration of carbon nanotubes as interconnects in next-generation integrated circuits that use both silicon and carbon components. The research was supported by the Semiconductor Research Corporation, and in its early stages, by the National Science Foundation. The work was reported online October 4, 2012, by the journal IEEE Transactions on Nanotechnology.

"For the first time, we have established connections to multiple shells of carbon nanotubes with a technique that is amenable to integration with conventional integrated circuit microfabrication processes," said Andrei Fedorov, a professor in the George W. Woodruff School of Mechanical Engineering at Georgia Tech. "Connecting to multiple shells allows us to dramatically reduce the resistance and move to the next level of device performance."

In developing the new technique, the researchers relied on modeling to guide their process parameters. To make it scalable for manufacturing, they also worked toward technologies for isolating and aligning individual carbon nanotubes between the metal terminals on a silicon substrate, and for examining the properties of the resulting structures. The researchers believe the technique could also be used to connect multi-layered graphene to metal contacts, though their published research has so far focused on carbon nanotubes.

The low-temperature EBID process takes place in a scanning electron microscope (SEM) system modified for material deposition. The SEM's vacuum chamber is altered to introduce precursors of the materials that researchers would like to deposit. The electron gun normally used for imaging of nanostructures is instead used to generate low energy secondary electrons when the high energy primary electrons impinge on the substrate at carefully chosen locations. When the secondary electrons interact with hydrocarbon precursor molecules introduced into the SEM chamber, carbon is deposited in desired locations.

Unique to the EBID process, the deposited carbon makes a strong, chemically-bonded connection to the ends of the carbon nanotubes, unlike the weakly-coupled physical interface made in traditional techniques based on metal evaporation. Prior to deposition, the ends of the nanotubes are opened using an etching process, so the deposited carbon grows into the open end of the nanotube to electronically connect multiple shells. Thermal annealing of the carbon after deposition converts it to a crystalline graphitic form that significantly improves electrical conductivity.

"Atom-by-atom, we can build the connection where the electron beam strikes right near the open end of the carbon nanotubes," Fedorov explained. "The highest rate of deposition occurs where the concentration of precursor is high and there are a lot of secondary electrons. This provides a nanoscale sculpturing tool with three-dimensional control for connecting the open ends of carbon nanotubes on any desired substrate."

Multi-walled carbon nanotubes offer the promise of higher information delivery throughput for certain interconnects used in electronic devices. Researchers have envisioned a future generation of hybrid devices based on traditional integrated circuits but using interconnects based on carbon nanotubes.

Until now, however, resistance at the connections between the carbon structures and conventional silicon electronics has been too high to make the devices practical.

"The big challenge in this field is to make a connection not just to a single shell of a carbon nanotube," said Fedorov. "If only the outer wall of a carbon nanotube is connected, you really don't gain much because most of the transmission channel is under-utilized or not utilized at all."

The technique developed by Fedorov and his collaborators produces record low resistivity at the connection between the carbon nanotube and the metal pad. The researchers have measured resistance as low as approximately 100 Ohms -- a factor of ten lower than the best that had been measured with other connection techniques.

"This technique gives us many new opportunities to go forward with integrating these carbon nanostructures into conventional devices," he said. "Because it is carbon, this interface has an advantage because its properties are similar to those of the carbon nanotubes to which they are providing a connection."

The researchers don't know exactly how many of the carbon nanotube shells are connected, but based on resistance measurements, they believe at least 10 of the approximately 30 conducting shells are contributing to electrical conduction.

However, handling carbon nanotubes poses a significant challenge to their use as interconnects. When formed through the electric arc technique, for example, carbon nanotubes are produced as a tangle of structures with varying lengths and properties, some with mechanical defects. Techniques have been developed to separate out single nanotubes, and to open their ends.

Fedorov and his collaborators -- current and former graduate students Songkil Kim, Dhaval Kulkarni, Konrad Rykaczewski and Mathias Henry, along with Georgia Tech professor Vladimir Tsukruk -- developed a method for aligning the multi-walled nanotubes across electronic contacts using focused electrical fields in combination with a substrate template created through electron beam lithography. The process has a significantly improved yield of properly aligned carbon nanotubes, with a potential for scalability over a large chip area.

Once the nanotubes are placed into their positions, the carbon is deposited using the EBID process, followed by graphitization. The phase transformation in the carbon interface is monitored using Raman spectroscopy to ensure that the material is transformed into its optimal nanocrystalline graphite state.

"Only by making advances in each of these areas can we achieve this technological advance, which is an enabling technology for nanoelectronics based on carbon materials," he said. "This is really a critical step for making many different kinds of devices using carbon nanotubes or graphene."

Before the new technique can be used on a large scale, researchers will have to improve their technique for aligning carbon nanotubes and develop EBID systems able to deposit connectors on multiple devices simultaneously. Advances in parallel electron beam systems may provide a way to mass-produce the connections, Fedorov said.

"A major amount of work remains to be done in this area, but we believe this is possible if industry becomes interested," he noted. "There are applications where integrating carbon nanotubes into circuits could be very attractive."

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Story Source:

The above story is reprinted from materials provided by Georgia Institute of Technology, Research Communications.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.

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Journal Reference:

1. S. Kim, D. Kulkarni, K. Rykaczewski, M. Henry, V. Tsukruk, A. Fedorov. Fabrication of an Ultra-Low-Resistance Ohmic Contact to MWCNT-Metal Interconnect using Graphitic Carbon by Electron Beam Induced Deposition (EBID). IEEE Transactions on Nanotechnology, 2012; : 1 DOI: 10.1109/TNANO.2012.2220377

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/matter_energy/technology/~3/bg5KaQmezII/121030093616.htm

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Disney to make new 'Star Wars' films, buy Lucas co

LOS ANGELES (AP) ? A decade after George Lucas said "Star Wars" was finished on the big screen, a new trilogy is destined for theaters after The Walt Disney Co. announced Tuesday that it was buying Lucasfilm Ltd. for $4.05 billion.

The seventh movie, with a working title of "Episode 7," is set for release in 2015. Episodes 8 and 9 will follow. The new trilogy will carry the story of Luke Skywalker, Han Solo and Princess Leia beyond "Return of the Jedi," the third film released and the sixth in the saga. After that, Disney plans a new "Star Wars" movie every two or three years. Lucas will serve as creative consultant in the new movies.

"For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next," said Lucas, chairman and CEO of Lucasfilm Ltd. "It's now time for me to pass Star Wars on to a new generation of filmmakers. I've always believed that Star Wars could live beyond me, and I thought it was important to set up the transition during my lifetime."

Disney CEO Bob Iger said Lucusfilm had already developed an extensive story line on the next trilogy, and Episode 7 was now in early-stage development.

The Walt Disney Co. announced the blockbuster agreement to buy Lucasfilm in cash and stock Tuesday. The deal includes Lucasfilm's prized high-tech production companies, Industrial Light & Magic and Skywalker Sound, as well as rights to the "Indiana Jones" franchise.

Iger said in a statement that the acquisition is a great fit and will help preserve and grow the "Star Wars" franchise.

"The last 'Star Wars' movie release was 2005's 'Revenge of the Sith' ? and we believe there's substantial pent-up demand," Iger said.

Kathleen Kennedy, the current co-chairman of Lucasfilm, will become the division's president and report to Walt Disney Studios Chairman Alan Horn.

The deal brings Lucasfilm under the Disney banner with other brands including Pixar, Marvel, ESPN and ABC, all companies that Disney has acquired over the years. A former weatherman who rose through the ranks of ABC, Iger has orchestrated some of the company's biggest acquisitions, including the $7.4 billion purchase of animated movie studio Pixar in 2006 and the $4.2 billion acquisition of comic book giant Marvel in 2009.

Disney shares were not trading with stock markets closed due to the impact of Superstorm Sandy in New York.

Source: http://news.yahoo.com/disney-star-wars-films-buy-lucas-co-210816699--finance.html

Alexis Wright Zumba

Three-Row SUVs Don't Measure Up to Minivans' Family-Friendliness

A little over two years ago, I was pregnant with my second child and shopping for a new family car. Seeing our obviously growing family, the well-meaning salesman brought us over to a minivan. The second those power doors slid open, I quickly corrected him: "No, no. This is only my second baby. I am not driving that."

Fast-forward two years and two babies later, and I'm now driving a minivan; I've jumped the fence from "No way, no how" to "No, really; it's awesome."

So, how does that happen? How do those who were once emphatically against a minivan suddenly give in? The push always seems to come from baby No. 3 and that few vehicles can fit three child-safety seats across the second row. That leaves two viable options: a minivan or a three-row crossover/SUV.

Luckily, I review family cars for a living, and after nine months of test-driving the two options, my husband and I reached our conclusion: minivan, hands down.

This is why:

Power sliding doors

The fact that I don't want to open my own car doors may sound lazy, but hear me out. When you've got a baby on your hip, a diaper bag on your shoulder, a lunch pail and backpack in one hand and a squirmy 2-year-old hand in the other (and in my case, a pokey preschooler trailing behind as well), the last thing you want to do is drop everything to open each door. Also, most car doors are too heavy for my wee ones to open on their own. If, by chance, they can open the door, their little over-enthusiastic arms are going to swing that door wide open and into the Mercedes parked next to me in the parking lot.

The final word: Power sliding doors save me time and energy ? two things I could use extra doses of.

Fuel economy

While the gap between three-row crossovers' and minivans' fuel-economy numbers aren't as large as they once were, minivans still eke out better mpgs. The 2013 Honda Odyssey with a 3.5-liter V-6 and front-wheel drive gets 19/28 mpg city/highway; the same engine in the 2013 Honda Pilot with front-wheel drive gets 18/25 mpg. The 2013 Dodge Grand Caravan with a 3.7-liter V-6 and front-wheel drive gets 17/25 mpg; with a 3.5-liter V-6 engine, the 2013 Dodge Durango (photo above) gets slightly less mpgs at 16/23.

The final word: The fuel savings may seem like small potatoes, but depending on gas prices and the amount you drive, it can amount to significant savings annually.

Step-in height

While I'm happy to climb up into a trucklike SUV all day long, I'm not keen on doing that for my three kids, as well. Just a simple errand of going to the grocery store and then to the bank would require me to lift my girls a total of 18 times to get them into their child-safety seats and back down again.

The final word: My back and biceps prefer the low step-in height of a minivan, allowing my preschooler and toddler to climb in on their own. Also, minivans require a less strenuous lift of my infant's safety seat.

Seating capacity

Just because a three-row SUV has eight seat belts doesn't mean it can fit eight people comfortably. Third rows in many SUVs and crossovers are a better fit for hobbits rather than adults, especially when they're crammed into what's normally a two-row SUV. There are some larger SUVs designed specifically to carry seven or eight passengers with a third row that's appropriately sized. The Pilot (photo above) and Chevrolet Suburban are perfect examples of large, family-friendly SUVs with adult-friendly third rows.

The final word: One of the major perks of a minivan is it's designed to be a people mover with a third row that's often as comfy as the second and first.

Three kids

I may not advertise it with a Baby on Board sign, but when those doors open (whether they slide or swing), three little ones are going to pour out of the vehicle and take whatever semblance of my pre-mama life I still have with them.

The final word: While I look forward to the day when power sliding doors aren't a godsend, for now I'm quite content to swear that "I love my minivan. No, really; it's awesome!"

Related
Minivan Buying Guide
Three-Row SUV Buying Guide
More Family News

Source: http://blogs.cars.com/kickingtires/2012/10/three-row-suvs-dont-measure-up-to-minivans-family-friendliness-.html

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We tried sun-dried

But there are limits to laundry, we found.

By Susan L. Fenton / October 31, 2012

Only after the straight-talking Maytag repairman handed me the bill and waved goodbye ? for the third time in six months ? did I finally acknowledge the painful truth: Our 20-year-old clothes dryer was irrevocably busted.

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I turned to my husband. "He says we're throwing good money after bad," I sighed. "I think he's right."

"I'm going to miss that guy," said my spouse, the joker. "When do you want to go shopping for a new one?"

"Let me think about it."

I glanced out the window, appreciating the sunlight dancing on the big-leaf maples in our backyard. Perfect drying weather. Suddenly, I recalled my mother hanging laundry on the patio clothesline during my Santa Monica, Calif., childhood. My giggling sister and I had played hide-and-seek among the sweet-smelling sheets flapping in the wind.

I had a plan.

"You know, we have all the elements of a dryer right in the backyard: plenty of warmth; clean, fresh air; and lots of branches to hang clothes on," I said.

"And it would help with the skyrocketing electric bill," noted the pragmatist in our family. "You're onto something."

And so it began: After the wash cycle, we festooned the maples with damp bluejeans, shirts, socks, and towels. The only things that didn't go outside were feminine unmentionables. And I persuaded my shameless husband to let his big boxer shorts stay indoors, too.

There is a secret pleasure in hanging laundry outdoors. It is the perfect excuse to get up from the computer. While checking on the laundry in the backyard, I could commune not only with cotton T-shirts, but also my cats nestled in deck chairs, licking their sun-warmed fur. I could watch cautious does amble through the yard with their fawns, listen to fretting squirrels in trees, observe a family of wild turkeys by the road. I'd return to my desk refreshed.

And, except for the sandpaper texture of sun-dried bath towels, the drying method was a complete success. But as autumn emerged, I'd scan the horizon to evaluate the day's drying potential. One morning I saw rain clouds ready to burst. I had a load of wet clothes in my arms and no place to put them.

I corralled my husband. Together we hung laundry throughout the house.

Then my husband gave me a hug and a smile. "I think it's time to buy a dryer," he said. "Like today."

"Good idea," I said, just as the infamous Oregon rain started in earnest.

Our home-based sun-dried laundry venture was closed for the season.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/eqcte4VbmL4/We-tried-sun-dried

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Ensuring safety no longer a priority? | Hart Brown Blog ? legal news ...

In true political style the government has decided yet again to insert a last minute clause into the Enterprise and Regulatory Reform Bill.

As of April 2013 it is proposed that there will no longer be an automatic right for an injured party to claim compensation where they are injured as a result of breaches in health and safety regulations.

The government have argued that the proposal is intended to assist economic growth by reducing the fear of organisations getting caught up in costly litigation where health and safety regulations have been breached.? Some might argue that the best way of avoiding that would be to have a safe workplace and a safe system of work!

In fact it seems that there may be an increase in the costs of litigation as? there be many more contested cases.?? David Bott, president of the Association of Personal Injury Lawyers has said ?the danger is that workers could be exposed to an unnecessary risk of injury?.? He argues that ?businesses should be made to feel confident in the knowledge they have nothing to fear from litigation provided they take reasonable steps to prevent needless injury.?

It is feared that in relaxing the regulations the number of injuries suffered in the work place will simply increase.

It seems that it is no longer a priority of government to ensure that there is adequate protection for employees against avoidable injuries but instead it is more important to provide an escape route for organisations who breach health and safety regulations.

What do you think?

Amey Welch, Legal Assistant, Personal Injury

Our personal injury lawyers are well placed across Surrey and London to provide you with advice on your personal injury claim. To find out more about personal injury speak to our personal injury lawyers in Cobham, Cranleigh, Godalming, Guildford, Wimbledon Village and Woking. This entry was posted in Personal Injury. Bookmark the permalink.

Source: http://blog.hartbrown.co.uk/2012/10/ensuring-safety-no-longer-a-priority/

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'Curiosity' on Mars sits on rocks similar to those found in marshes in Mexico

ScienceDaily (Oct. 29, 2012) ? Millions of years ago fire and water forged the gypsum rocks locked in at Cuatro Ci?negas, a Mexican valley similar to the Martian crater where NASA's Rover Curiosity roams. A team of researchers have now analysed the bacterial communities that have survived in these inhospitable springs since the beginning of life on Earth.

"Cuatro Ci?negas is extraordinarily similar to Mars. As well as the Gale crater where Curiosity is currently located on its exploration of the red planet, this landscape is the home to gypsum formed by fire beneath the seabed," as explained by Valeria Souza, evolutionary ecologist at the National Autonomous University of Mexico (UNAM).

The researcher states that sulphur components from magma and minerals from the sea (carbonates and molecules with magnesium) are required to form gypsum. In the case of the Cuatro Ci?negas Basin, the magma under the seabed was very active. In fact, it allowed for the continent displacement during the Jurassic Period: "Here was where the supercontinent Pangea opened up some 200 million years ago, pushing the hemisphere north from the equator where it is now."

In the case of Mars, the scientists have not been able to confirm tectonic movement in its crust at any point, but they believe that a large meteorite crashed into its primitive sea. The fact that probing has detected gypsum in the Gale crater indicates that mineral-rich water was present and that sulphur was able to form due to the impact of the meteorite causing the crater.

It is no easy task to find a place on Earth similar to this Martian environment, except in Cuatro Ci?negas. For this reason astrobiologists toil in their work to understand how its bacterial communities work. "This oasis in the middle of the Chihuahua desert is a time machine for organisms that, together as a community, have transformed our blue planet yet have survived all extinctions. How they have managed to do this can be revealed by their genes," says Souza.

The team have analysed the 'metagenomes', the genome of the different bacterial communities that proliferate in these marshes by adapting parallel strategies to overcome survival challenges in a place with so little nutrients.

Green, red and blue springs

The results published in the journal Astrobiology reflect the existence of two communities in different pits for example. One is 'green' and is formed by cyanobacteria and proteobacteria that have adapted to the lack of nitrogen. Another is 'red' and is made of Pseudomonas and other micro-organisms that live without hardly any phosphorus. There are also blue springs which are generally deeper and lacking in nutrients.

"Understanding the usage and exploitation strategies of phosphorus is necessary in understanding what could happen in extreme scenarios like on other planets where there is a possibly serious limitation to this and other nutrients," explains Luis David Alcaraz, Mexican researcher participating in the study from the Higher Public Health Research centre of Valencia, Spain.

This project has enjoyed the support of Mexico's Carlos Slim Foundation and the Technological Innovation Research Project Support Programme of UNAM. It has also received the support of the National Science Foundation (NSF) of the USA and NASA, which has been studying Cuatro Ci?negas for more than a decade.

The Cuatroci?negas Flora and Fauna Protection Area is a protected area but the scientists and conservation groups are worried that its water is being over exhausted. "The bacterial communities have survived all types of cataclysms here such as the extinction of the dinosaurs or the majority of marine creatures. But, the only thing they are not adapted for is the lack of water," warns Souza.

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Story Source:

The above story is reprinted from materials provided by Plataforma SINC, via AlphaGalileo.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.

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Journal References:

1. Nguyen E. L?pez-Lozano, Luis E. Eguiarte, Germ?n Bonilla-Rosso, Felipe Garc?a-Oliva, Celeste Mart?nez-Piedragil, Christine Rooks, Valeria Souza. Bacterial Communities and the Nitrogen Cycle in the Gypsum Soils of Cuatro Ci?negas Basin, Coahuila: A Mars Analogue. Astrobiology, 2012; 12 (7): 699 DOI: 10.1089/ast.2012.0840
2. Mariana Peimbert, Luis David Alcaraz, Germ?n Bonilla-Rosso, Gabriela Olmedo-Alvarez, Felipe Garc?a-Oliva, Lorenzo Segovia, Luis E. Eguiarte, Valeria Souza. Comparative Metagenomics of Two Microbial Mats at Cuatro Ci?negas Basin I: Ancient Lessons on How to Cope with an Environment Under Severe Nutrient Stress. Astrobiology, 2012; 12 (7): 648 DOI: 10.1089/ast.2011.0694
3. Germ?n Bonilla-Rosso, Mariana Peimbert, Luis David Alcaraz, Ismael Hern?ndez, Luis E. Eguiarte, Gabriela Olmedo-Alvarez, Valeria Souza. Comparative Metagenomics of Two Microbial Mats at Cuatro Ci?negas Basin II: Community Structure and Composition in Oligotrophic Environments. Astrobiology, 2012; 12 (7): 659 DOI: 10.1089/ast.2011.0724

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_science/~3/amtgc4WhEoY/121029081829.htm

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Security firm CrowdStrike hires U.S. Air Force info-warfare expert

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Source: http://news.yahoo.com/security-firm-crowdstrike-hires-u-air-force-warfare-210627868--finance.html

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Reminder: Our Northern Meetups Are Next Week. Is Your Pitch Ready?

We?ve had such a great response and such persistent requests for additional tickets to the Northern Meetups that we?ve decided to release some more. While about 800 of ya?ll will be able to hang out with us, all at the same time, we?re gonna give a few more tickets and let folks in on a 1-in-1-out basis. So grab a ticket and come on down early so you can be one of the first 800 folks in the door. Drink tickets go to the first 800 folks that show up, but if you miss the free drink tickets, well, you can always buy a beer and hang out. This is quite literally the last time we'll release tickets so get cracking.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/QSzMtOEi-2M/

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RolePlayGateway?

Welcome everyone to The Dohvin Tree Players Wanted ad!!

For those who like The Elder Scrolls series, this RP is somewhat similar in its construction and even makes use of the Daedric Armor and Weaponry found in Skyrim. While the gameplay and storyline are very different from Skyrim, and the role of Dragons in the RP is different, the overall feel of the world of Dohvin is very similar in many respects as you will find out if you join the RP.

Currently, I'm calling for players who are literate, dedicated, and who will not join and then disappear. I've had a few of those recently with my other RP's and it sucks! I consider myself a patient person, but when you join with big promises and then don't post for three weeks straight, you're on my list of "people to avoid in the future" and your character will be deleted from the RP. So don't be that kind of person, please.

ANYWAY!!

I'm sure you want to know what kind of world you're diving into, right?

Well then, here you go!!

http://www.creativeuncut.com/gallery-17 ... ld-map.jpg

This link is a rough map of the world on a basic level. Each continent is much larger than it appears in this picture and has an incredibly diverse string of wildlife and races which inhabit its surface.

So how's about a demo of what you're in for?!

These are the five kingdoms and a very basic explanation of what each one contains as far as races and whatnot!

Vanelma (Top Right) - Highly mountainous with a small desert in the southern peninsula where a few small towns exist which serve as trade hubs between Vanelma and the Desert Kingdom of Fyriah. Inhabited by Draconians and a few small traces of Elves of varying backgrounds in the lower regions.

Fyriah (Middle right) - Mountains in the north with scattered forests and oasis lands centered around a single large active volcano. The Volcano is low in elevation and not very high due to a massive explosion eons past, but it's crater currently spans over thirty miles from left to right and fifty from north to south. The largest volcano in the world, mining and weapons making is at its peak in this harsh Kingdom. Inhabited primarily by Dwarves and Orcs, though a few traces of Jumentai make their homes here as well.

Solda (Bottom right) - Solda is has pristine and expansive forests covering its surface, with the forest in the valley towards the middle of the Kingdom being the densest and most lush of them all. Beautiful wildlife exists across this continent and so it is known for its exotic pets, wood cutting and archery thanks to the wood that grows across its vast expanse. Inhabited primarily by Elves, Jumentai and Faeries.

Dreyo (Bottom left) - Evidence of an ancient Draconian civilization exist in the highest mountains in the center of the continent. The Dragons themselves have not been seen in ages, though evidence of their lives continue to exist through myths and rumors across the world. The continent is famous more for its sorcery than its weapons, though a few legendary warriors were born here in ages past. Inhabited by Pentthus, Humans, Jumentai, Orcs and Dwarves.

Calsham (Top Left) - Kingdom of wilderness, for lack of a more appropriate name. It's vast expanses see the largest concentration of massive and dangerous beasts in the world. The largest of the beasts which wander the landscape is a single creature called, affectionately by the locals, the Flora Guardian. It is the last of its kind and is a massive, quadrupedal beast with long, tentacle-like appendages on its back and a somewhat serpentine face. Standing close to twenty five meters tall and nearly sixty meters long, it's the largest creature in the known world. Being that it's a creature which feeds off of magical energies, rather than flesh, the locals do not fear it and instead present it with offerings once every season at a special altar located at the base of the series of plateaus that line the northern edge of the continent. Inhabited primarily by Humans, Nymphs, Succubi and a few traces of Elves.

"World Tree" - (Center) - A massive tree the size of a mountain with its own collection of ecosystems existing within its massive branches and inside its massive trunk down into its very roots. At over two miles in height, it's the most dazzling and beautiful spectacle in the known world and draws many, many travelers every year who desire to see it. It can be seen from nearly every other continent thanks to its height, but to see it up close is a whole other experience which so many dream of seeing. Ancient legends tell of a cult of worshipers who protect the tree at all times and who violently drive away all those who attempt to come anywhere near it. Due to the numerous disappearances of people who have ventured to see the tree up close, most of the legends are taken as true.

So that's the five kingdoms. Anything else? Oh!! I know!! How about the weapon system as well as the enchantments?!

The economy plays a vital role in what kind of weapons and armor you can afford and what is available to you from smithing and such based on where relationships stand between races. For example: Humans who live on Calsham will have a very difficult time procuring the resources and funds to purchase or smith weaponry and armor that is made by dwarves in Fyriah due to the nature of the position of the continents and the poor relationship between humans and dwarves. However, they would have little trouble acquiring the weaponry and armor of the Elves given the fact that their relations are a bit better.

In these hard times, higher end equipment is very difficult to come by unless you're born into a wealthy family with access to the resources and funds that you need to get the higher end weaponry.

The Materials of Dohvin: (From weakest to strongest)

Bronze - Bronze Ingot
Iron - Iron Ingot
Steel - Steel Ingot
Glass (specialized volcanic glass of course) - Malachite
Orcish - Ebony Ingot
Ebony - Ebony Ingot
Elven - Quicksilver Ingot
Dwarven - Dwarven Ingot
Lunar - Moonstone
Solar - Solstone
Daedric - Orichalcum + Daedric Heart

All of these materials can be used in the smithing of weapons and armor, with each one being progressively stronger than its predecessor. Upgrading the weapons and armor produced by each will yield a new level of armor and weaponry that is stronger than its immediate successor, but weaker than the follow-up. For instance, a fully upgraded Iron Sword will be stronger than a Steel Sword but weaker than a Glass sword (both at base level). There are five stages to upgrading equipment, and each costs a greater number of both materials and funds.

Level 1 - Level 2 = 5 Ingots + 250 Gold
Level 2 - Level 3 = 8 Ingots + 680 Gold
Level 3 - Level 4 = 14 Ingots + 1640 Gold
Level 4 - Level 5 = 22 Ingots + 2700 Gold
Level 5 - Ultimate = 30 Ingots + 5000 Gold

Each of these is progressively, and predictably, harder to acquire and maintain than each of the subsequent predecessors.

On a numeric scale of 1 - 100 used only to showcase power in relative terms, this would be it:

Bronze (levels 1 - Ultimate respectively) = 1 - 9 points
Iron (levels 1 - Ultimate respectively) = 7 - 15 points
Steel (levels 1 - Ultimate respectively) = 12 - 26 points
Glass (levels 1 - Ultimate respectively) = 21 - 38 points
Orcish (levels 1 - Ultimate respectively) = 29 - 41 points
Ebony (levels 1 - Ultimate respectively) = 39 - 56 points
Elven (levels 1 - Ultimate respectively) = 50 - 64 points
Dwarven (levels 1 - Ultimate respectively) = 60 - 82 points
Lunar (levels 1 - Ultimate respectively) = 76 - 88 points
Solar (levels 1 - Ultimate respectively) = 83 - 94 points
Daedric (Ultimate Only) = 100 points

This relative numerical system works the same for both weaponry and armor both, and will always be as such. There will never be an Iron weapon or armor set that is stronger than a basic Glass set.

Enchantments:

Enchantments are exactly what they sound like, they enchant a weapon or armor piece to give it special magical qualities. This requires the use of an alchemic table and what is known as "Soul Matter" which can be collected from defeated animals, monsters, and even other defeated races. When powered by Soul Matter, weapons and armor gain very special abilities depending on the ingredients used. Enchantments can only be used once every few hours and last between five and twenty minutes depending on how strong the enchantment is. The stronger the enchantment, the longer it lasts but the longer its recovery time is as well so choose your moments wisely.

Ingredients:

Laetemar - Levitation
Firos - Fire Power
Fresha - Freeze Power
Oros - Understand (all) Languages
Erss - Earth Power
Zirto - Lightning Power
Lumio - Light Power
Dorgh - Darkness Power
Lima - Illumination Power
Wuld - Wind Power
Quios - Water Power
Zwais - Flight Power
Csior - Night Vision Power
Wros - Fear (instill fear and panic in enemies)
Medun - Memory (manipulate the memory of enemies/people)
Siht - Sight (See through the eyes of an enemy/person(useful for thieves))
Lisk - Soundless (useful for thieves and assassins)
Nurmn - Breath (breath underwater)
Illactos - Understanding (understand what's in front of you, be it animated or not. Useful in combat with unknown enemies and when faced with puzzles and traps)

So, sound like fun?!

If you're at all interested, please visit the link at the top of the page to see the RP's main info page and see if you'd like to become a part of it.

Also...

Thank you very much for your time!

Source: http://feeds.feedburner.com/RolePlayGateway

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Finally, Google Doodles Bob Ross, America's Favorite Doodler

It's about time Google Doodles doodled the doodle king. Bob Ross, whose palette and afro invaded our living rooms for decades of insta-nature art adventures, graces the search giant's home page today. More »

Source: http://feeds.gawker.com/~r/gizmodo/full/~3/qFqgyHp3jJQ/finally-google-doodles-bob-ross-americas-favorite-doodler

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BANNING: International business celebrates local grand opening ...

Posted on | October 29, 2012 | Comments

This press release comes from the city of Banning:

On October 11, 2012, Banning City Officials, Banning Chamber of Commerce representatives and clients of Zenner Performance celebrated the opening of Zenner Performance?s U.S. headquarters in Banning, California. The company?s state-of-the-art meter manufacturing is located at 1910 E. Westward Avenue and will produce and distribute meters to the multifamily, municipal and commercial markets throughout North America. With the opening of the Banning location, Zenner Performance will become the 21st branch to open in The Zenner Group?s worldwide location.

(Contributed photo)

Alexander Lehmann, Managing Partner of the Zenner Group based in Saarbrucken, Germany, attended the event and stated that ?locating our North American headquarters in Banning was a strategic decision based on years of industry research and our continued success in other markets.? Rich Sanders, President of Zenner Performance and Ron Gallon, Vice President of Operations and Production, thanked City officials for their cooperation and assistance in getting the new Zenner facilities up and going in a timely manner. Banning Mayor Don Robinson addressed the audience and stated, ?We are proud and pleased to have Zenner Performance in our City and we look forward to watching them grow their client base over the next few years.?

Founded in 1903, The Zenner Group produces and markets more than three million meters annually and is one of the largest meter manufacturers worldwide. ? The opening of Zenner Performance will extend the company?s distribution of channels and market share, as well as bring more job opportunities to the Banning area.

On the Web: www.zennerusa.com

Comments

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Source: http://blog.pe.com/the-pass/2012/10/29/banning-international-business-celebrates-local-grand-opening/

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Lions top Seahawks 28-24 with 20 seconds left

Detroit Lions wide receiver Titus Young (16) celebrates his touchdown run with fans in the first half of an NFL football game against the Seattle Seahawks, Sunday, Oct. 28, 2012. in Detroit. (AP Photo/Carlos Osorio)

Detroit Lions wide receiver Titus Young (16) celebrates his touchdown run with fans in the first half of an NFL football game against the Seattle Seahawks, Sunday, Oct. 28, 2012. in Detroit. (AP Photo/Carlos Osorio)

Seattle Seahawks tight end Zach Miller (86) makes a touchdown reception in the end zone against Detroit Lions linebacker Ashlee Palmer (58) in the second half of an NFL football game, Sunday, Oct. 28, 2012, in Detroit. (AP Photo/Paul Sancya )

Seattle Seahawks tight end Zach Miller (86) makes a touchdown reception in the end zone against Detroit Lions linebacker Ashlee Palmer (58) in the second half of an NFL football game, Sunday, Oct. 28, 2012, in Detroit. (AP Photo/Paul Sancya )

Detroit Lions wide receiver Calvin Johnson (81) makes a reception against Seattle Seahawks cornerback Brandon Browner (39) in the second half of an NFL football game, Sunday, Oct. 28, 2012. in Detroit. (AP Photo/Rick Osentoski)

Detroit Lions quarterback Matthew Stafford (9) passes as Seattle Seahawks defensive end Greg Scruggs (98)approaches in the second half of an NFL football game, Sunday, Oct. 28, 2012. in Detroit. (AP Photo/Rick Osentoski)

DETROIT (AP) ? Titus Young made the most of his opportunity to replace Nate Burleson.

Young caught his second touchdown pass from Matthew Stafford on a 1-yard slant with 20 seconds left, lifting the Detroit Lions to a 28-24 win over the Seattle Seahawks on Sunday.

Zach Miller made a spectacular, 16-yard catch on a toss from Russell Wilson with 5:27 left to put the Seahawks ahead. But Seattle (4-4) couldn't stop the Lions (3-4) on their last possession.

Stafford led a 16-play drive that started at Detroit 20 with 5:27 remaining. The possession began with a 15-yard pass to Calvin Johnson and was kept alive with third-down conversion passes to Johnson in Lions territory and to Joique Bell that set up the winning score from just outside the goal line.

After Stafford had to throw two passes away to avoid sacks, Young broke inside of cornerback Brandon Browner and caught the winning TD pass.

Burleson broke his right leg in Monday night's loss at Chicago, pushing Young up the depth chart. The second-year pro took advantage of his shot to get more involved with an offense that has fallen short of expectations. Young, who caught a go-ahead TD midway through the second quarter, set career highs with nine receptions and 100 yards receiving.

Stafford was 34 of 49 for 352 yards with three TDs, also connecting with rookie Ryan Broyles in the end zone at the end of the first quarter. The quarterback also ran for a 1-yard TD that gave Detroit a lead early in the fourth period for the first time this year.

It looked like the Lions were going to blow it. The Seahawks went ahead when Wilson lobbed a pass into the end zone that a leaping Miller tipped to himself with his right hand and hauled in with both hands for the go-ahead TD.

Seattle, though, was the team that failed to hold onto the lead and ended up losing consecutive games for the first time this year.

Wilson was 25 of 35 for 236 yards with two TDs and an interception. Marshawn Lynch ran just 12 times for 105 yards, including a career-high 77-yard run early in the second quarter for one of the many lead changes in the closely contested game.

Sidney Rice had six receptions for 55 yards and a 9-yard score that put Seattle up 17-7 early in the second quarter.

Young's first score, catching a 46-yard pass in stride from Stafford, started Detroit's comeback on the ensuing possession. His second one sealed the much-needed victory for the Lions.

___

Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

___

Follow Larry Lage on Twitter at www.Twitter.com/larrylage

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2012-10-28-FBN-Seahawks-Lions/id-17e56ab8809c4634bfa0599ea2b7b1da

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Windows Phone 8 handset UK availability and pricing detailed: free starting from ?21 per month

We've heard how Windows Phone 8 is all about you, and seen all the devices bearing the new OS at launch. What's left, however, is where you can get one on the other side of the pond and, more importantly, how much it's going to cost you. Nokia has separately announced that both the Lumia 920 and Lumia 820 will be launching in the UK (and France) later this week. More specifically, though, it looks like every UK carrier will be getting at least three handsets, with the almost-ready-to-launch EE getting both of HTC and Nokia's handset pairs. We've got all the (current) pricing details and availability dates after the break.

Gallery: Windows Phone 8 pricing and availability for UK

Continue reading Windows Phone 8 handset UK availability and pricing detailed: free starting from ?21 per month

Filed under: Cellphones, Mobile, Samsung, HTC, Nokia

Windows Phone 8 handset UK availability and pricing detailed: free starting from ?21 per month originally appeared on Engadget on Mon, 29 Oct 2012 15:46:00 EDT. Please see our terms for use of feeds.

Permalink   |  Nokia  | Email this | Comments

Source: http://www.engadget.com/2012/10/29/windows-phone-8-handset-uk-availability-and-pricing-revealed/

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Metro Computers Talks Shop About Excellent IT Biz

October 26, 2012 (Powerhomebiz.com) Started in 1992 with a small workshop near downtown Edmonton, Metro Computers which is a Canadian owned company is now able to respond to all computer service needs across Canada. The Edmonton-based company will use a mix of customer service and technology to establish a local presence across Canada.

For 20 years in the business, Metro Computers? history has just been solidified with full of expansion and growth. In 2005, the company was incorporated under a numbered company. At the turn of the year the company had opened an opportunity to add new services like ?satellite installs and ?web hosting and web design service. In 2009, another services were added, ?data recovery?, ?disaster planning? and ?IPTV? to provide ethnic channels. In 2010, home and business ?Voice-Over-IP Telephone systems? was optimized to have a banner start in 2011. From there on the company relocated to a newer shop located on Whyte avenue in the city of Edmonton. It was able to start well in a new location in order to expand its services across Canada. On the same year, another service was added which was ?cell phone unlocking service?. Metro Computers is currently expanding its wide range of computer services and pc repair in Canada, together with the addition of new serv ices like secure office backup and mobile service provider by ?Mobilicity?

Sami Alkhatib, Metro Computers CEO, is very certain that his company?s highest standards in home and office computer related service backed up with award winning customer service have been the reason for his company?s past and future growth. Metro Computers specializes in computer problems operation and IT support. The company offers computer repair in Canada, computer/PC repairs, laptop/notebook repairs, Networking services, Data Recovery services, Voice-Over-IP, and Arabic IPTV Canada, by supporting small businesses or home office computers and networks.

They can setup broadband internet and wireless networks, as well as those annoying problems where computers are set on the fritz. In short, if their clients have any problem with their home or business computer, Metro Computers can fix it, and in most cases much faster than you would expect.

Sami Alkhatib takes pride to provide conveniences to their clients by offering the best in-shop and onsite PC and laptop service in Edmonton and all areas in Canada. Clients may bring their computer to their shop as there are trusted professionals at Metro Computers who will come to their house or office to service their shut computers. Sami also guarantees that they won?t leave until their customers are satisfied that their computers are working exactly how they want them to.

?As an in-shop/onsite computer repair company, we enjoy the challenges and excitement that comes from the job, as well as the satisfaction that comes while exceeding our customers? expectations. So if you are experiencing computer problems, why not give us a call and allow one of our friendly staff to show you how quick and painless it is to have your computer or laptop repaired today?? said Sami Alkhatib.

Visit Metro Computers? official site at http://www.metro-computers.ca and see for yourself why they deserve to be the right choice for all your computer service needs.

More about Metro Computers: Metro Computers is a one-stop-shop for all your IT related services. The company is dedicated to providing the highest standards in home and office IT service in Canada. It also offers products from new computer systems and accessories to refurbished systems. It serves small and medium size businesses in Edmonton and surrounding area to guarantee clients with quality computer support services, troubleshooting, repair and general tech support.

SERVICES:
? Networking
? Emergency Service
? Data Recovery
? Off-Site Data Backup
? Onsite & Inshop Service
? Ongoing IT Service Plans
? Custom Software Development
? Website and Graphic Design

PRODUCTS:
? Peripherals and Accessories
? Refurbished Systems
? New Systems

METRO COMPUTERS
http://www.metro-computers.ca
Store Address: 10125 82 Ave (Whyte Ave) Edmonton, AB T6E-1Z5 Canada
Phone Edmonton: 1-780-448-9902
Canada & USA Toll Free: 1-866-448-9288

Source: http://www.powerhomebiz.com/BizNews/2012/10/metro-computers-talks-shop-about-excellent-it-biz.htm

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China says industry recovery trend not yet stable

BEIJING (Reuters) - China's factory output should grow faster in the last three months of 2012 than in the third quarter, though the recovery remains clouded by uncertainty in export markets, the Ministry of Industry and Information Technology said on Thursday.

Month-on-month improvements in output growth, an apparent turnaround signaled by a private sector survey of purchasing managers and an uptick in preliminary power generation data were all indications of a burgeoning recovery, the ministry spokesman and chief engineer, Zhu Hongren, told a news conference.

"The industry sector performance has shown signs of stabilization and we can see an even clearer growing trend from the month-on-month figures in the third quarter," Zhu said.

"Therefore, we expect that industrial output growth in the fourth quarter would be faster than that in Q3, which will help the country to achieve its annual economic growth target of 7.5 percent," he added.

But a ministry statement issued before the news conference began was focused more on the risks of weak external demand, rising production costs, financing strains and squeezed profit margins across China's industrial complex.

"The stabilization trend of China's industrial sector is not yet solid and we are still facing many challenges and difficulties to realize stable growth," the ministry's earlier statement said.

"Although export growth rebounded in September, it is still very difficult to see a stable growth in exports of industrial products in future due to shrinking external demand," the statement said.

A festering debt crisis in China's biggest foreign market, the European Union, has dented demand for goods coming off assembly lines in the vast factory sector and ultimately weighed on the domestic economy.

Exports were worth 31 percent of GDP in 2011, according to the World Bank, and supported an estimated 200 million Chinese jobs.

The written statement echoes that from Commerce Ministry spokesman, Shen Danyang, who said last week that one month's solid trade data was not sufficient evidence of a recovery trend given complications in the external sector.

A jump in annual export growth in September to 9.9 percent, roughly twice the rate expected by investors, has led some analysts to conclude that recovery in the external sector is gathering momentum.

The downturn in China's main markets has been the main cause of the rapidly cooling growth in the export-sensitive economy since 2011's 9.2 percent expansion.

Analysts polled by Reuters expect to China's economic growth to slow to 7.7 percent for the full year in 2012 - a 13 year low.

RECOVERY SIGNS TENTATIVE

Tentative signs of recovery in China's vast factory sector though came on Wednesday in the HSBC China Flash Purchasing Managers Index (PMI) for October, which showed new orders at their highest in six months and output at a three month peak.

But while the headline PMI index rose to a three month high of 49.1, it was still below the 50-point mark that separates expanding from shrinking business activity.

In the world's second biggest economy where industrial output expanded at a 9.2 percent annual rate in September, it implies that while China's factories are growing, they are doing so more slowly than previously.

The PMI survey also found, however, that stocks of purchases were their strongest since July while stocks of finished goods were at their weakest since March, which implies an upturn in orders will be met by a rise in factory output.

China's annual industrial output growth was 10 percent in the first nine months of 2012, leaving it below the Ministry's 11 percent target for the year.

Premier Wen Jiabao said earlier this month that the economy is showing positive changes and the government is confident it can achieve its full-year economic growth target of 7.5 percent.

Beijing has been following a program of pro-growth fine tuning of economic policies for a year and analysts broadly expect that to remain in place when a new leadership line-up of the ruling Communist Party is unveiled at a Congress next month.

The fine tuning includes two interest rate cuts, three reductions in the portion of deposits banks must keep as reserves (RRR) - freeing an estimated 1.2 trillion yuan ($190 billion) for lending.

There were also approvals in September for infrastructure projects worth about $157 billion, although Beijing has not said explicitly where the money to fund them is coming from.

China's overall economic growth accelerated to 2.2 percent quarter-on-quarter in the third quarter from an upwardly revised 2.0 percent rate in the second quarter, data showed last week, further reinforcing views of some analysts that a recovery is beginning to take hold.

(Editing by Simon Cameron-Moore)

Source: http://news.yahoo.com/china-says-industry-recovery-trend-not-yet-stable-022540721--business.html

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Source confirms Romney using orange spray-on tan (Americablog)

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CMBS is Back | Commercial Property Executive

October 23, 2012

By Richard M. Gatto

At its 2007 peak, the CMBS market reached $230 billion in sales. While we are a long way from that crest, the CMBS market has fought its way back: Wall Street banks report selling $1.25 billion during the week of Sept. 10 alone, and we are poised for $7 billion in new bonds in October. Issuance could hit $45 billion this year, partly because many loans written in 2007 are rolling over and are refinancing with new conduits. That total could rise to $58 billion in 2013 and $75 billion in 2014. Part of the issue is that there is a shortage of bonds in the market, since so much of the 2007 stock matured this year.

All of this is good news for the industry, because the simple truth is that we can?t function?without CMBS. The bond market remains the principal way that developers and owners convert temporary financing (often three-year construction loans) into permanent financing. Typically, this is accomplished with conduit loans, which are converted into?securities and sold to investors.

In early 2012, some commercial real estate industry authorities feared that when existing commercial loans matured, they would not be able to refinance and the properties would revert to REO status for portfolio loans and special servicing for securitized debt. However, the Fed?s recent announcement of low interest rates ?til 2015 means that returns on T-bills narrowed to as little as 150 basis points, forcing the global investment community to look for yield elsewhere. This was followed by the announcement of QE3, which releases $40 billion a month in investment money back into the economy. All of which benefits real estate securities, which offer investors relatively high yields (we?re seeing B-piece CMBS investors achieving 20 percent and higher yields) and relative safety (CMBS delinquencies?at just 8.96 percent?have hit their lowest levels since the beginning of the recession).

The New Conduit

At present, the securitization market is in a good place: Ninety-two percent of loans that originated in 2007 and are rolling over will be refinanced at a value upwards of $362 billion. Borrowers considering CMBS loans will find available money at attractive rates, primarily because investors have achieved a comfort level, since lenders have moderated leverage and increased transparency on conduits. As a point of comparison, while portfolio lenders will provide non-recourse financing with a loan-to-value of as much as 65 percent, CMBS lenders will go as high as 75 percent. Although the LTV is not at the 90 to 95 percent level that prevailed before the financial crisis, it is loosening the credit market and creating liquidity. There had been concerns that the LIBOR scandal might affect CMBS, but in truth its impact is minimal: If the conduit loans behind the CMBS were floating-rate, they would have been pegged to LIBOR; however, considering that interest rates were kept artificially low by the LIBOR banks, borrowers benefited from even cheaper money, while investors saw lower returns.

S&P Issues New CMBS Guidelines
The rating agencies have also helped boost the current investor confidence in CMBS. Standard & Poor?s has amended its CMBS ratings after it didn?t rate a $1.5 billion Goldman Sachs and Citigroup transaction. According to S&P, its revised criteria comprise an exhaustive framework for rating standalone, large-loan and conduit/fusion CMBS deals. The firm evaluates properties according to their location (primary, secondary or tertiary markets) and applies capitalization rates to show the relative strength of those markets and the quality of the properties. The revised standards encompass a default probability model driven by creditworthiness as measured by the loan-to-value ratio and debt-service coverage. The plan implements an analogous approach to property analysis based on long-term valuation. Compare that to their previous ratings, which were simply based on debt-service totals and loan constants, and you get a sense of how different the new CMBS market is.

As executive vice president of The Alter Group (www.altergroup.com), Richard Gatto spearheads the firm?s business development, corporate services, leasing and build-to-suit activities. The Alter Group, voted NAIOP?s National Developer of the Year, was founded by William A. Alter in 1955 and has developed close to 100,000,000 SF of speculative projects for its own portfolio and build-to-suit facilities for corporate users.

Source: http://www.cpexecutive.com/in-focus/cmbs-is-back/

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