TSX hits one-week high as RIM surges
















TORONTO (Reuters) – Canada‘s main stock index hit a one-week high on Thursday as higher commodity prices boosted mining stocks and as Research In Motion Ltd shares jumped 11 percent on growing hopes for its new devices.


The market was also supported by data that showed China’s manufacturing sector was picking up steam, a signal of increased demand for Canadian resources.













Research In Motion was up 11.1 percent at C$ 11.36 after National Bank Financial raised its price target on the stock to $ 15, citing “positive sentiment building in the industry” ahead of the launch of its BlackBerry 10 devices.


The stock played the second-biggest role of any single company in leading the market higher.


“The dominant news today is the performance of RIM,” said John Ing, president of Maison Placements Canada.


“The company has had nothing but bad news over the past year, and the stock has been oversold,” he said.


At midmorning, the Toronto Stock Exchange‘s S&P/TSX composite index <.GSPTSE> was up 63.94 points, or 0.53 percent, at 12,164. Earlier in the session, the index hit 12,171.20, its highest level since November 13.


The index’s materials sector, which includes mining stocks, rose 0.7 percent, extending gains made in the previous session on higher prices for gold and other commodities.


Miner Barrick Gold Corp was up 1.2 percent at C$ 35.04. Fertilizer producer Potash Corp gained 1.4 percent to C$ 38.77, while Silver Wheaton Corp was up 1.18 percent at C$ 36.74.


The financial sector rallied for the fifth day, with investors optimistic about quarterly results from Canadian banks, which start reporting next week. The group was up 0.4 percent. Royal Bank of Canada , the country’s biggest bank, was up 0.5 percent at C$ 59.90.


In China, data showed expansion in the manufacturing sector accelerated in November for the first time in 13 months, a sign that the pace of economic growth has revived after seven consecutive quarters of slowdown.


(Reporting by John Tilak; Editing by Peter Galloway)


Wireless News Headlines – Yahoo! News



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Rolling Stones aim to roll back years with reunion
















LONDON (Reuters) – The Rolling Stones return to the stage on Sunday for a mini-tour they hope will prove that advancing years and bad blood are no barriers to satisfaction for sellout crowds.


In a burst of activity to celebrate 50 years in business, the veteran British rockers with an average age of 68 have produced a photo book, written two songs, collaborated on a documentary, released a greatest hits album, played warm-up gigs in Paris and committed to five concerts.













They also faced questions about high ticket prices to the two gigs in London and three in the United States that have given some followers the impression they are more interested in banking cash than bashing out the hits.


Yet that has done little to dampen broad enthusiasm for their return to the big stage five years after the “A Bigger Bang” tour became the most lucrative in pop history at the time, earning nearly $ 560 million.


Adding to the sense of occasion, the full-time quartet of Mick Jagger on vocals, Keith Richards and Ronnie Wood on guitar and Charlie Watts on drums will be joined by former members Bill Wyman and Mick Taylor at London’s O2 Arena on Sunday.


Even before they step out for the first of two gigs in the British capital, the question on every Stones fan’s lips is what more they have up their sleeves, amid hints of a full tour and the possibility of a new studio album.


“It would be nice to think that wouldn’t be it,” said Paul Sexton, a music journalist who has met and interviewed the band in the run-up to the latest concerts.


“Once the machine gets fired up again, it’s hard to imagine there won’t be more live shows to come. If these dates went well, you could imagine sufficient momentum for some kind of recording project.”


BICKERING, BUT NO DIVORCE


The Stones first played at the Marquee Club in London in 1962, and with a changing lineup that settled with today’s foursome the band who had to compete with the Beatles quickly became one of the biggest groups in pop history.


Their blues-infused output slowed from the 1980s, and some critics argue they peaked in the 1960s and 70s, but the Stones’ longevity and a catalogue of hits like “(I Can’t Get No) Satisfaction”, “Jumpin’ Jack Flash” and “Honky Tonk Women” have ensured the music world still cares.


Despite the promise of a major payout and another chance to enhance their legacy, the 50th anniversary celebrations were not always a certainty.


Jagger and Richards have bickered in the past and were at it again recently with Richards calling the charismatic frontman “unbearable” amid a stream of insults in his 2010 memoir “Life”.


He eventually apologized, clearing the way for the reunion.


“If you was married to somebody for 50 years, you can have your little spats here and there, and we don’t mind having them in public occasionally,” the guitarist told Rolling Stone magazine. “We can’t get divorced – we’re doing it for the kids!”


The Stones will play two gigs at the O2 Arena, where tickets cost 95 to 950 pounds ($ 1,500) for a VIP seat, before crossing the Atlantic for a show at Barclay Center, Brooklyn on December 8 and two at the Prudential Center, Newark on December 13 and 15.


Jagger has been quick to defend the pricing, saying that the shows were expensive to stage and tickets being traded on secondary sites for greater than their face value did not mean more money for the band.


As to what the five concerts could lead to, Richards said in a recent interview: “My experience with the Rolling Stones is that once the juggernaut starts rolling, it ain’t gonna stop.”


Jagger and Richards are the only two members of the Stones who were there at its inception in 1962. Watts joined in early 1963 and Wood was recruited in the mid-1970s to replace Mick Taylor when he left.


They are widely acknowledged as the greatest rock and roll band in history, producing more than 20 studio albums, selling an estimated 200 million copies, conquering the United States and charting the social and sexual mores of their time.


Their longevity is all the more surprising given their reputation for living in the fast lane. Wood is in his third year of sobriety after struggling with alcohol addiction and Richards said he is drinking less and “gave up smack” (heroin).


(Reporting by Mike Collett-White)


Music News Headlines – Yahoo! News



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Recipes for Health: Apple Pear Strudel — Recipes for Health


Andrew Scrivani for The New York Times







This strudel is made with phyllo dough. When I tested it the first time, I found that I had enough filling for two strudels. Rather than cut the amount of filling, I increased the number of strudels to 2, as this is a dessert you can assemble and keep, unbaked, in the freezer.




Filling for 2 strudels:


1/2 pound mixed dried fruit, like raisins, currants, chopped dried figs, chopped dried apricots, dried cranberries


1 1/2 pounds apples (3 large) (I recommend Braeburns), peeled, cored and cut in 1/2-inch dice


1 tablespoon fresh lemon juice


2 tablespoons unsalted butter for cooking the apples


1/4 cup (50 grams) brown sugar


1 teaspoon vanilla


1 teaspoon cinnamon


1/2 teaspoon freshly grated nutmeg


1/4 cup (30 grams) chopped or slivered almonds


3/4 pound (1 large or 2 small) ripe but firm pears, peeled, cored and cut in 1/2-inch dice


For each strudel:


8 sheets phyllo dough


7/8 cup (100 grams) almond powder, divided


1 1/2 ounces butter, melted, for brushing the phyllo


1. Preheat the oven to 375 degrees. Line 2 sheet pans with parchment.


2. Place the dried fruit in a bowl and pour on hot or boiling water to cover. Let sit 5 minutes, and drain. Toss the apples with the lemon juice.


3. Heat a large, heavy frying pan over high heat and add 2 tablespoons butter. Wait until it becomes light brown and carefully add the apples and the sugar. Do not add the apples until the pan and the butter are hot enough, or they won’t sear properly and retain their juice. But be careful when you add them so that the hot butter doesn’t splatter. When the apples are brown on one side, add the vanilla, cinnamon, nutmeg and almonds, flip the apples and continue to sauté until golden brown, about 5 to 7 minutes. Stir in the pears and dried fruit, then scrape out onto one of the lined sheet pans and allow to cool completely. Divide into two equal portions (easiest to do this if you weigh it).


4. Place 8 sheets of phyllo dough on your work surface. Cover with a dish towel and place another, damp dish towel on top of the first towel. Place a sheet of parchment on your work surface horizontally, with the long edge close to you. Lay a sheet of phyllo dough on the parchment. Brush lightly with butter and top with the next sheet. Continue to layer all eight sheets, brushing each one with butter before topping with the next one.


5. Brush the top sheet of phyllo dough with butter. Sprinkle on half of the almond powder (50 grams). With the other half, create a line 3 inches from the base of the dough, leaving a 2 1/2-inch margin on the sides. Top this line with one portion of the fruit mixture. Fold the bottom edge of the phyllo up over the filling, then fold the ends over and roll up like a burrito. Using the parchment paper to help you, lift the strudel and place it on the other parchment-lined baking sheet. Brush with butter and make 3 or 4 slits on the diagonal along the length of the strudel. Repeat with the other sheets of phyllo to make a second strudel. If you are freezing one of them, double-wrap tightly in plastic.


6. Place the strudel in the oven and bake 20 minutes. Remove from the oven, brush again with butter, rotate the pan and return to the oven. Continue to bake for another 20 to 25 minutes, or until golden brown. Remove from the heat and allow to cool for at least 15 minutes. Serve warm or room temperature.


Yield: 2 strudels, each serving 8


Advance preparation: The fruit filling will keep for a couple of days in the refrigerator. The strudel can be baked a few hours before serving it. Recrisp in a medium oven for 10 minutes. It can also be frozen before baking, double-wrapped in plastic. Transfer directly from the freezer to the oven and add 10 minutes to the baking time.


Nutritional information per serving: 259 calories; 13 grams fat; 4 grams saturated fat; 3 grams polyunsaturated fat; 5 grams monounsaturated fat; 15 milligrams cholesterol; 34 grams carbohydrates; 4 grams dietary fiber; 91 milligrams sodium; 4 grams protein


Martha Rose Shulman is the author of “The Very Best of Recipes for Health.”


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Judge to let Hostess liquidation proceed









Hostess Brands Inc. on Wednesday won permission from a U.S. bankruptcy judge to begin shutting down, and expressed optimism it will find new homes for many of its iconic brands, which include Twinkies, Drake's cakes and Wonder Bread.

U.S. Bankruptcy Judge Robert Drain in White Plains, New York authorized management, led by restructuring specialist Gregory Rayburn, to immediately begin efforts to wind down the 82-year-old company, a process expected to take one year.






"It appears clear to me that the debtors have taken the right course in seeking to implement the wind-down plan as promptly as possible," Drain said near the end of a four-hour hearing.

The judge authorized Hostess to begin the liquidation process one day after his last-ditch mediation effort between the Irving, Texas-based company and its striking bakers' union broke down.

Roughly 15,000 workers were expected to lose their jobs immediately, and most of the remaining 3,200 would be let go within four months.

"This is a tragedy, and we're well aware of it," Heather Lennox, a lawyer for Hostess, told the judge. "We are trying to be as sensitive as we can possibly be under the circumstances to the human cost of this."

Lennox said Hostess has received a "flood of inquiries" from potential buyers for several brands that could be sold at auction, and expects initial bidders within a few weeks.

Joshua Scherer, a partner at Perella Weinberg Partners, which is advising Hostess, said the company was in "active dialogue" over its Drake's brand with one "very interested" party that had toured a New Jersey plant on Tuesday.

He said that regional bakeries, national rivals, private equity firms and others have also expressed interest in various brands and that more than 50 nondisclosure agreements have been signed.

"These are iconic brands that people love," Scherer said.

While prospective buyers were not identified at the hearing, bankers have said rivals including Flowers Foods Inc. and Mexico's Grupo Bimbo SAB de CV were likely to be interested in some of the brands.

Representatives of neither company responded on Wednesday to requests for comment.

Scherer said Hostess could be worth $2.3 billion to $2.4 billion in a normal bankruptcy, an amount equal to its annual revenue. It also has about $900 million of secured debt and faces up to about $150 million of administrative claims.

Scherer expects a discount in this case because plants have already been closed and Hostess' value could fall further if the liquidation were dragged out.

"I've had buyers tell me, 'Josh, the longer it takes, the less value I'm going to be able to pay you,' " he said.

Hostess decided to liquidate on Nov. 16, saying it was losing about $1 million per day after the Bakery, Confectionery, Tobacco and Grain Millers Union, representing close to one-third of its workers, went on strike a week earlier.

The bakers union walked out after Drain authorized Hostess to impose pay and benefit cuts, which the International Brotherhood of Teamsters, Hostess' largest union, had accepted.

Hostess has about 33 plants, plus three it decided to close after the strike began, as well as 565 distribution centers and 570 bakery outlet stores.

Many of the 3,200 workers expected to stay on will help shut these properties and prepare them for sale. Hostess expects to need only about 200 employees by late March.

Rayburn, a former chief restructuring officer for the bankrupt phone company WorldCom Inc., said that letting 15,000 workers go now helps preserve their ability to obtain unemployment benefits.

"I need to maximize the value of the estate, but I need to do the best I can for my employees," he said.

Hostess filed for Chapter 11 protection on Jan. 11, its second bankruptcy filing in less than three years.

The case is In re: Hostess Brands Inc. et al, U.S. Bankruptcy Court, Southern District of New York, No. 12-22052.

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4 hurt in extra-alarm fire in senior high-rise













2 hurt in extra-alarm fire in senior high-rise


2 hurt in extra-alarm fire in senior high-rise
(November 21, 2012)



















































At least five people have been injured in an extra-alarm fire at a senior citizen high-rise on the West Side this morning, officials said.

The five were taken to the University of Illinois Medical Center, one in serious to critical condition, three in serious to fair condition and the other in fair to good condition, officials said.

The fire broke out around 9:30 a.m. at 1633 W. Madison St., apparently in bedding in an apartment on the 9th floor, officials said.


The fire was under control by 10:10 a.m., according to the Fire Department.







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Elmo left behind on ‘Sesame Street’ as actor exits
















NEW YORK (AP) — Even on “Sesame Street,” where everything is famously A-OK, problems can arise for its residents.


And that includes the Muppets. Cookie Monster grapples with an eating disorder. Oscar the Grouch gets cranky. Mr. Snuffleupagus gets the blues.













But Elmo seemed immune to any of that. Since enjoying his breakout success more than two decades ago, the 3 1/2-year-old red monster has radiated good cheer, love and trilling giggles. No wonder everyone — adults as well as children — adores him.


The key to Elmo is “his innocence, his positiveness and his sweetness,” according to Kevin Clash, the man who created him and once told The Associated Press, “I would love to be totally like Elmo.”


Now Clash has been scandalously separated from Elmo and from “Sesame Street,” the TV series where he reigned behind the scenes for 28 years.


Clash spoke of “personal matters” as the cause of his resignation Tuesday after an unthinkable nine-day stretch that began with an unnamed man in his 20s claiming he had sex with Clash at age 16. That allegation was quickly recanted. But then came another accusation of sexual abuse, and a lawsuit.


That second accuser, a 24-year-old college student named Cecil Singleton, said the actor had engaged in sexual behavior with him when he was 15. He is suing Clash for $ 5 million.


“I am deeply sorry to be leaving,” said Clash in his parting statement, “and am looking forward to resolving these personal matters privately.”


But privacy may no longer be possible for Clash, the 52-year-old divorced father of a grown daughter who acknowledged last week that he is gay. Singleton’s lawyer, Jeff Herman, said he has been contacted by two other potential victims of Clash and expects additional legal action.


At a news conference Tuesday, Singleton said he and Clash met on a gay chat line and then, for a two-week period, they engaged in sexual contact, though not intercourse. Sex with a person under 17 is a felony in New York if the perpetrator is 21 or older.


Singleton said he didn’t know Clash’s profession until years later, when he Googled the man’s name.


“I was shocked when I found out what he did for a living,” said Singleton.


Now that career has ended for Clash, who, in his dream job as a puppeteer for “Sesame Street,” was assigned a little-used puppet now known as Elmo, then turned him into a star. In the process, Clash won 23 daytime Emmy awards and one prime-time Emmy. He published his 2006 autobiography, “My Life as a Furry Red Monster,” and was the subject of the 2011 documentary “Being Elmo: A Puppeteer’s Journey.”


Elmo overshadowed Big Bird and other “Sesame” Muppets in popularity and screen time, while marginalizing the cast of live actors. Since 1998, he has had his own show-within-a-show on “Sesame Street” in addition to appearances elsewhere in the hour.


He is also a major moneymaker for Sesame Workshop, the New York-based company that produces the show, and for licensees. At his merchandising height in 1996, he inspired the Tickle Me Elmo doll, which became a cultural phenomenon and that Christmas season’s hottest toy.


This year’s Elmo dolls, “LOL Elmo,” which giggles, and “Let’s Rock! Elmo,” which sings and comes with a microphone and drum set, haven’t made any of this year’s hot toy lists. Even so, Elmo toys probably account for one-half to two-thirds of the $ 75 million in annual sales the “Sesame Street” toy line generates for toy maker Hasbro, estimates BMO Capital Markets analyst Gerrick Johnson.


Johnson said he wasn’t sure how this week’s news might affect sales of Elmo toys this holiday.


“How many people are going to want to explain to their kid why they’re not getting an Elmo?” he asked.


On Tuesday, Hasbro issued a statement saying “We are confident that Elmo will remain an integral part of Sesame Street and that Sesame Street toys will continue to delight children for years to come.”


Despite his resignation, Clash will remain an integral part of “Sesame Street” for the foreseeable future. Taping of season No. 44 will wrap by mid-December and will begin airing next September, according to someone close to the show who spoke on condition of anonymity because the person was not authorized to publicly discuss details of its production. That means new episodes with Clash performing as Elmo will presumably continue well into 2014.


As for who might take over as Elmo, other “Sesame Street” puppeteers were already being trained to serve as Clash’s stand-in, Sesame Workshop said. It’s part of an understudy policy being adopted for all the major Muppet characters.


But no one knows how Elmo will fare going forward. Will the jokes spurred by Clash’s downfall leave a lasting mark on Elmo’s image? Will there be parents who see him tainted by association with the man who brought him to life?


In the wake of a personal tragedy that may still be unfolding, Elmo’s innocence, positiveness and sweetness will be put to the test.


___


AP Television Writer David Bauder and AP Retail Writer Mae Anderson contributed to this report.


Entertainment News Headlines – Yahoo! News



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Ask an Expert: Ask and Expert About Alzheimer’s, Part 3



(Some questions published here have been edited, and not all questions can be answered.)


The doctor’s answers are meant for educational purposes and are not meant to be a substitute for advice from your own doctor. Readers should contact their physician before making health care decisions.


Q. What practical steps can a baby boomer take to stave off dementia of any type? — Canoe9, Hawaii


Q. My dad’s family has a history of Alzheimer’s disease: my grandfather and many of his brothers have either passed away from the disease, or are currently suffering from it. The disease can be traced back for many generations. My father has not yet started to show symptoms. Are there any medications he can take as a preventative measure? What are the best diet and lifestyle choices a person can make who has an increased risk of developing the disease? — VB, Canada


Q. Both of my inlaws have Alzheimer’s. What steps can my husband and his brothers take now to delay/prevent the disease? And should he be monitored at an Alzheimer’s center? — lbs, New Jersey


Q. My mother, two older brothers and two older sisters all had progressive mental dementia (I believe Alzheimer’s ) before age of 65. I am 64 and had extensive mental exam that found no symptoms. For prevention I am doing it as follows. 1. Have become a Vegan with very little use of vegetable oils after reading China Study by Campbell and Starch Solution by McDougall. 2. I use lots of turmeric, ginger, cinnamon in my food. 3. I have run 20 to 30 miles a week for the last 10 years. 4. I retired to reduce work related stress. Is there any other preventive measures you recommend? — Jaque, Champaign, Ill.


Q. My mother had a form or dementia, not sure if it was Alzheimer’s, and she lived to 96. And what can I do to improve my chances? I work out and am not overweight and am in good health otherwise. — Mitchellmcg, New York


A. There are dozens of causes of dementia and steps for prevention are different for each one. We have no proven preventive strategies for Alzheimer’s. The decision to monitor people at risk is made on a case by case basis, but I don’t usually recommend any monitoring until someone is about five years within the age their relative developed it; or they note changes in their memory. My top strategies to keep your brain healthy are listed below.


1. Vascular risks: Minimize your risk for strokes, heart disease and diabetes (keep your body weight, blood pressure, cholesterol and sugar in normal range). Studies find strong links between vascular risks and Alzheimer’s.


2. Exercise regularly: Regular aerobic activities, such as walking, may reduce risk for dementia by keeping the brain’s blood vessels healthy, boosting nerve growth chemicals and slowing age-related brain shrinkage.


3. Stimulate your mind: Socialize actively, make new friends, try new activities, travel to new places and be passionate about learning new things. Adult brains can grow new brain cell connections and developing a greater cognitive reserve might help the buffer against dementia pathology.


4. Heart healthy diet: follow a heart healthy diet such as a Mediterranean diet but heed the old Okinawan saying Hari Hachi Bu – eat only till you are 80 percent full; drink in moderation (but not till you cannot remember what happened the prior night!)


5. Minimize your risk for head injury by wearing helmets. (The Hovding is a new invisible helmet that promises to keeps your hair looking pretty and your head safe!)


6. Take part in clinical trials – pros are that trials may offer regular check-ups and you are helping science; cons are that there are safety risks. Our book, The Alzheimer’s Action Plan gives a step-by-step guide to evaluate which clinical trials are best for you. You might enjoy reading the new book, “Super Brain.” It’s coauthored by the dementia scientist Rudolf Tanzi and the mind-body guru, Deepak Chopra.


Q. I can´t find a Spanish version of “The Alzheimer’s Action Plan.” Will we have it soon? — Marisabel Neuman, Orlando, Fla.


A. Not yet, but we are open to it if you know an interested publisher! But your question does highlight the fact that many Spanish only speakers in the United States and elsewhere are often left out of the mainstream of information on Alzheimer’s. Hispanics in the United States may be at a slightly greater risk for Alzheimer’s due to higher rates of heart disease. Gracias por su interes!


Q. Since my mother developed Alzheimer’s in her mid-80’s, presumably I am at greater risk than the general population, should I live to a similar age. What is your best guess about the likelihood of preventative medications or treatments being developed in the next 25 years? — Beth, Singapore


A. The track record of scientists at predicting a “cure” is not very good (about the same as that of stock analysts predicting the market). The last dozen or so experimental medicines for Alzheimer’s (all touted as the next big thing) have not only failed but results have often been the opposite of what was predicted.


That said, in the next 5-10 years, we will have the results from over 25 trials testing a broad range of strategies such as drugs targeting plaques, drugs targeting tangles, drugs boosting brain memory chemicals, aerobic exercise, different types of diets and medical foods, gene therapy, as well as novel devices to stimulate the brain’s memory centers. (You can check clinicaltrials.org or adcs.org for more information). So the odds are quite good that we will have one or more new treatments by 2025. But even if a cure were in a test tube today, it would take ten years to get to the market. That’s why it’s critical that individuals, such as yourself, sign up for clinical trials.


You may be surprised to learn that one type of “cure” is already available. About 10 years ago, a woman with familial early onset Alzheimer’s successfully conceived a healthy baby free of the harmful APP gene mutation through a technique called preimplantation genetic diagnosis (PGD) at a fertility clinic run by the doctor, Yuri Verlinski. That baby, who would now be 10 years old, has hopefully been cured of familial Alzheimer’s and will in turn be able to have risk free children.


Q. My father, his mother, his mother’s sister, my maternal grandmother and her sister and my maternal aunt all had or have Alzheimer’s - symptomatic onset at 70 and in the early 80’s. I have just turned 60 and think I’d be a great research subject in terms of lifestyle. Can you suggest any research projects that might use me? I understand that some very important studies are being run through Duke. — Kristin Pop’s daughter, Ithaca.


Q. Kristin’s background, age, concerns, and interest in research studies mirror mine - which I have posted. Please inform us of potential studies. I am willing to travel, even to Duke, which she mentioned in her post. —Mary Christian Madden, East Greenwich, RI


A. Thanks for the offer! Most research studies require people to come for multiple visits over several months/years which would be difficult for people living far away. A university affiliated medical center closer to your home might be more ideal. Clinicaltrials.gov has a listing of all ongoing prevention studies. Many such studies are also advertised in pages of local newspapers. The Alzheimer’s Association chapter in your home town may be able to guide you to find a suitable research study in your town. Don’t sign up for a trial just because you have a spare half day. Make sure you thoroughly research the pros and cons. Fewer than 1 percent of drug trials are positive, but 100 percent of all drug trials carry risks. So the odds of you personally benefiting are the same as in a lottery.


Q. Her whole life my mother drank four cups of tea every day, read two to three books a week, ate mostly vegetables, didn’t smoke, drank wine moderately, and stayed slim. She started showing signs of Alzheimers in her mid 50’s and has been steadly declining for 15 years now. Although a bad lifestyle can cause dementia in many people, it is more complicated than that. — Joseph, Fla.


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Hostess, union fail to reach deal









Hostess Brands Inc, the bankrupt maker of Twinkies and Wonder Bread, said on Tuesday that it failed to reach a deal in mediation with the Bakery, Confectionary, Tobacco and Grain Millers Union.

The company, which operates three facilities in Illinois, including in Schiller Park and Hodgkins, said it will have no further comment until a hearing scheduled for Wednesday before the U.S. Bankruptcy Court for the Southern District of New York.

A representative of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM) did not immediately respond for comment.

The ailing company, which also makes Wonder Bread and Drake's cakes, went to bankruptcy court on Monday to seek permission to liquidate its business, claiming that its operations were crippled by the bakers' strike and that winding down was the best way to preserve its dwindling cash.

But Bankruptcy Judge Robert Drain of the Southern District of New York urged the sides into a private mediation, prompted by a desire to protect the more than 18,000 jobs at stake.

The 82-year-old Hostess runs 33 bakeries, 553 distribution centers, about 5,500 delivery routes and 527 bakery outlet stores throughout the United States. Bakery operations ceased last week, though product deliveries to stores continued in order to sell already-made products.

The company has blamed union wages and pension costs for contributing to its unprofitably. Hostess Chief Executive Gregory Rayburn has also said the company's labor contracts have deterred would-be bidders for the company and its assets.

Aside from its unionized workforce, analysts, bankers and restructuring experts have said that a fleet of inefficient and out-of-date factories has also eaten up costs. They have said the brand names were likely to be more valuable once they were separated from the factories and sold to non-union competitors.



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Deadly Indiana home explosion investigated as homicide









The house explosion that killed two people and destroyed several homes in an Indianapolis neighborhood is now being investigated as a homicide, authorities said, though no suspects have been named.


Indianapolis Homeland Security Director Gary Coons announced the criminal investigation Monday evening, shortly after a funeral was held for the husband and wife who had lived next door to the house where investigators believe the blast occurred.


"We are turning this into a criminal homicide investigation," Coons said after meeting with residents, the first public acknowledgement by investigators of a possible criminal element to the Nov. 10 explosion.











Search warrants have been executed and officials are now looking for a white van that was seen in the subdivision on the day of the blast, Marion County Prosecutor Terry Curry said. Federal authorities are offering a $10,000 reward for information in the case.


Curry said the investigation is aimed at "determining if there are individuals who may be responsible for this explosion and fire," but neither he nor Coons took questions or indicated if investigators had any suspects. No arrests have been made.


A lawyer representing Monserrate Shirley and Mark Leonard, who lived in that home that is believed to have exploded, said Tuesday that the couple was bewildered by the new direction of the investigation.


Randall Cable said in a statement that Shirley and Leonard have "cooperated fully" with investigators and that they want the cause "of this horrific and saddening tragedy to be determined."


Officials say they believe natural gas was involved in the explosion, which destroyed five homes and left dozens damaged. Investigators have focused on appliances in their search for a cause. The explosion caused an estimated $4.4 million in damage.


"We thought something like this was not just an accident," said Doug Aldridge, who heads the neighborhood Crime Watch.


Aldridge said he and other residents frequently saw a white van parked outside the home, though he didn't know who owned it. He said residents are angry and upset but that he expects most of them to stay in the neighborhood.


Hundreds of people attended the funeral Monday for John Dion Longworth, 34, and his 36-year-old wife Jennifer Longworth.


She was a second-grade teacher remembered for knitting gifts for her students, while her husband, an electronics expert, was known as a gardener and nature lover. The school where Jennifer Longworth taught was closed Monday so teachers and students could attend the funeral.


Indianapolis Mayor Greg Ballard told reporters after attending the Longworths' funeral Monday that he had been having a hard time coming to terms with what happened.


"There is a search for truth and there is a search for justice," Ballard said.


John Shirley, who co-owns the house with his ex-wife, Monserrate, has told The Associated Press that he had recently received a text message from his 12-year-old daughter saying the furnace in the home had gone out.


Monserrate Shirley said Leonard had replaced the thermostat and that the furnace was working. Cable has said the daughter told her mother she had smelled an odd odor in recent weeks, but they hadn't reported it.


Shirley and Leonard were away at a casino at the time of the blast, Cable said. The daughter was staying with a friend, and the family's cat was being boarded.





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Interpublic exits Facebook
















(Reuters) – Interpublic Group of Cos said it sold its remaining investment in Facebook Inc for $ 95 million in cash.


Interpublic said it expects to record a pre-tax gain of $ 94 million. It had recorded a pre-tax gain of $ 132.2 million for the third quarter of last year from the sale of half of its 0.4 percent stake in Facebook.













Interpublic paid less than $ 5 million for the stake in 2006.


Shares of Facebook, which debuted with a market value of more than $ 100 billion in May, have lost nearly half their value since then on concerns about money-making prospects.


“We decided to sell our remaining shares in Facebook as our investment was no longer strategic in nature,” Chief Executive Michael Roth said in a statement.


Interpublic also authorized an increase in its existing share repurchase program to $ 400 million from $ 300 million. The company repurchased shares worth $ 151 million, as of September 30.


Shares of the company were up 1 percent at $ 10 on the New York Stock Exchange on Tuesday.


Facebook shares were marginally up at $ 23.00 on the Nasdaq.


(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)


Internet News Headlines – Yahoo! News



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