Wednesday, 26 September 2012

U.S. court revives ex-Chrysler executives' age bias claims

(Reuters) - Hundreds of former Chrysler LLC executives claiming they lost retirement benefits because of age bias can sue the company's former parent Daimler AG, a U.S. appeals court ruled on Tuesday.

More than 450 former auto executives have said they lost retirement benefits in Chrysler's 2009 bankruptcy.

The decision by the 6th U.S. Circuit Court of Appeals partially revives a lawsuit against Germany's Daimler and a unit of State Street Corp, the trustee of the former executives' retirement plan.

The appeals court upheld the dismissal of other claims of breaches of fiduciary duties by the defendants.

Mayer Morganroth, a lawyer for the plaintiffs, said reinstatement of the age discrimination claims would allow his clients to pursue "hundreds of millions of dollars" in damages.

Daimler spokeswoman Andrea Berg said the company was still reviewing the decision but was pleased that the appeals court had upheld most of the lower court's ruling. "In any event, Daimler intends to continue to defend this case vigorously," she said.

A State Street representative did not immediately respond to requests for comment.

The former executives claimed that following the bankruptcy, they lost much or all of their benefits under a supplemental executive retirement plan.

They also claimed Daimler and State Street hid the true state of Chrysler's finances before selling its majority stake in the company to the private equity firm Cerberus Capital Management LP in 2007.

Daimler owned Chrysler from 1998 to 2007 and kept a minority interest in the No. 3 U.S. automaker when Cerberus took over in 2007.

Cerberus Capital was the majority owner and ran Chrysler until 2009, when the company was restructured in a government-sponsored bankruptcy that led to its management control by Italy's Fiat SpA. Fiat since has become majority owner of Chrysler Group LLC.

The former executives claimed Daimler discriminated against them in 2005 and 2006 when the company and State Street used retirement plan trust assets to buy annuities for some active Chrysler executives and selected retirees to protect them from future shortfalls.

The plaintiffs said that because the company did not also buy them annuities, they suffered when the retirement plan did not survive the bankruptcy intact.

In June 2011, the lawsuit was dismissed entirely by U.S. District Judge Julian Cook in Detroit.

Tuesday's decision was issued by a three-judge panel of the appeals court, which sits in Cincinnati, Ohio.

In dismissing the claims over fiduciary duty, the appeals court said the plaintiffs' allegations, which arose out of Michigan state law, were trumped by the federal Employee Retirement Income Security Act, a federal law regulating employee benefit plans.

In Tuesday's decision, Judge Jeffrey Sutton wrote that the state law-based claims of age discrimination were not preempted by the ERISA.

He also found that the discrimination claims were not "implausible" because the executives who got the annuities were younger than the ones who did not.

The case is Loffredo v. Daimler AG, 6th U.S. Circuit Court of Appeals, 11-1824.

(Reporting By Nate Raymond in New York; Editing by Martha Graybow)

Source: http://news.yahoo.com/u-court-revives-ex-chrysler-executives-age-bias-204906531--finance.html

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Tuesday, 25 September 2012

Orioles lose to Blue Jays 9-5, split doubleheader

Baltimore Orioles' Adam Jones watches his two-run home run in the fourth inning of the first baseball game of a doubleheader against the Toronto Blue Jays in Baltimore, Monday, Sept. 24, 2012. (AP Photo/Patrick Semansky)

Baltimore Orioles' Adam Jones watches his two-run home run in the fourth inning of the first baseball game of a doubleheader against the Toronto Blue Jays in Baltimore, Monday, Sept. 24, 2012. (AP Photo/Patrick Semansky)

Baltimore Orioles starting pitcher Steve Johnson throws to the Toronto Blue Jays in the second inning of the first baseball game of a doubleheader in Baltimore, Monday, Sept. 24, 2012. (AP Photo/Patrick Semansky)

Toronto Blue Jays starting pitcher Henderson Alvarez throws to the Baltimore Orioles in the first inning of the first baseball game of a doubleheader in Baltimore, Monday, Sept. 24, 2012. (AP Photo/Patrick Semansky)

Baltimore Orioles' Adam Jones, left, fist bumps teammate Chris Davis in front of Toronto Blue Jays catcher Jeff Mathis after Jones batted Davis in on a home run in the fourth inning of the first baseball game of a doubleheader in Baltimore, Monday, Sept. 24, 2012. (AP Photo/Patrick Semansky)

Toronto Blue Jays starting pitcher Henderson Alvarez throws to the Baltimore Orioles in the third inning of the first baseball game of a doubleheader in Baltimore, Monday, Sept. 24, 2012. (AP Photo/Patrick Semansky)

(AP) ? The Baltimore Orioles dreaded this doubleheader ever since it became part of their schedule late last month.

Beating the same team twice on the same day is not an easy task, even if the opposition is a last-place club in the midst of a losing streak. And so, after Toronto earned a split with a 9-5 win Monday night, the Orioles shrugged their shoulders and looked ahead to another day of chasing the New York Yankees in the AL East.

"Very hard to sweep a doubleheader in the major leagues," Baltimore manager Buck Showalter said. "It wasn't from a lack of effort. That's why when you get a rainout, you try to play because you know the challenge ahead of you somewhere down the line. The Blue Jays have a lot of pride."

J.P. Arencibia broke open a tight game with a seventh-inning grand slam, leaving the Orioles 1? games out of first place in the division.

In the opener, Adam Jones went 4 for 4 with a homer and two RBIs to lead Baltimore to a 4-1 victory. But the Orioles lost a half-game in the standings to the Yankees, who won 6-3 at Minnesota.

The doubleheader came into being after the teams endured a rainout on Aug. 26.

"You never want to play games like this late in the season," Baltimore right fielder Chris Davis said. "But at the same time, if you can win both of them, you help yourself out. Obviously we weren't able to do that."

The Orioles fell behind 4-0 in the nightcap and missed several bases-loaded chances to take the lead before Arencibia connected off Jake Arrieta to give Toronto a 9-4 cushion.

"I think anytime you strand guys on base you know it's a missed opportunity," Davis said.

Edwin Encarnacion hit his 41st home run for the Blue Jays, who snapped a seven-game skid. Arencibia, who came into the game mired in a 2-for-36 slump, finished with three hits and five RBIs.

Toronto long ago fell out of playoff contention, but the Jays were reminded how fun it is while performing before an enthusiastic crowd of 31,015.

"It's pretty impressive the atmosphere they have here," Arencibia said. "It's a lot of fun to play in that kind of atmosphere."

Ricky Romero (9-14) allowed four runs, eight hits, four walks and a homer in five-plus innings. But a strong performance by the Toronto bullpen enabled the left-hander to end a 13-game losing streak over 15 starts since June 22.

"Good for him and good for us," Blue Jays manager John Farrell said. "We needed a win and it's been a long time since Ricky's had a W."

Encarnacion put the Blue Jays up 2-0 against Wei-Yin Chen (12-10) with a two-run drive in the first inning. In the second, Arencibia hit a sacrifice fly and Anthony Gose added an RBI single.

Robert Andino singled in two runs in the bottom half, but Baltimore left the bases loaded. Nate McLouth hit an opposite-field drive to left in the fifth to get Baltimore to 4-3, but the Orioles again left the bases full.

After Moises Sierra homered for Toronto in the sixth, the Orioles loaded the bases with no outs in their half, bringing many in the crowd to their feet. Brad Lincoln replaced Romero and gave up a first-pitch RBI single to J.J. Hardy before striking out Jones. Davis followed with a fly ball to Gose in left field, and Taylor Teagarden was thrown out at the plate after tagging up.

Baltimore also loaded the bases with no outs in the ninth, but scored only once on a double-play grounder.

In the first game, Orioles rookie Steve Johnson (4-0) allowed three hits over five shutout innings to lower his ERA to 1.62. Half his big league wins have come against Toronto.

Although the Blue Jays got two runners on base in three of the first four innings, Johnson worked out of trouble on each occasion.

Jim Johnson, the fifth Baltimore pitcher, worked the ninth for his major league-best 48th save in 51 opportunities.

Jones' four hits tied a career high. Now in his seventh season, Jones has already set career highs with 32 homers and 101 runs, and the All-Star center fielder needs only three RBIs to eclipse his previous high of 83, set last year.

Jones added a single and a double in the nightcap and has hit safely in 19 of 23 games in September, with six home runs and 13 RBIs.

"Adam relishes competition," Showalter said. "He's obviously had a heck of a year. He's turning into quite a player."

Henderson Alvarez (9-14) gave up four runs, eight hits and three walks in 5 2-3 innings. He is 2-7 in his last 10 starts.

In the fourth, Davis walked and Jones followed with a drive to left to put Baltimore up 2-0. Ryan Flaherty hit a solo shot in the fifth, and Jones singled in the sixth and came home on a double-play grounder.

Toronto scored in the eighth on an RBI double by Rajai Davis. With runners on second and third and two outs, Darren O'Day came in to strike out Kelly Johnson.

NOTES: Toronto purchased the contracts of RHPs Shawn Hill and Bobby Korecky and transferred LHP J.A. Happ (foot) to the 60-day DL. ... Orioles LHP Randy Wolf is experiencing discomfort in his left elbow and will undergo an MRI on Tuesday. ... Seventeen of Jones' HRs have given the Orioles the lead. Baltimore is 23-8 when he homers. ... Toronto's first-game defeat was its sixth straight in Baltimore, its longest single-season skid in Charm City since 1980. The Orioles are 10-6 against the Blue Jays, clinching their first season series win over Toronto since 2004. ... Omar Vizquel got two hits to move into a tie with Mel Ott for 40th on the career list with 2,876.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2012-09-25-Blue%20Jays-Orioles/id-20ae7ccebdf348fe904366be177bc9cb

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Writing and Speaking: The New, New Way of Publishing - Brock ...

The great majority of authors don't write a book within a few weeks
or a couple of months. It's a rare author who is so highly organized and
efficient that can pop them out that way. For most authors, the amount
of money that is received/earned, if there are any sales, begins to look
nominal when they consider the time and money spent on creating their
masterpiece.
Alas, many authors who had published within the traditional publishing community are breaking ranks and going out on their own. With their established names, and brand, they've discovered that they can net more money, with less grief and more control by publishing themselves. How much more?
With the example above-if the author had been able to directly sell to their client/reader base, bypassing bookstores (remember, having a book listed on Amazon counts just fine-Amazon sales represent 20 percent plus of all book sales), that maximum of $17,225 could have yielded $162,500 minus production costs plus any coaching/ shepherding of approximately $24,000, or $138,500. Which would you choose: $17,225 or $138,500; or something in between?
In the previous chapter, the top seven ways to publish were identified. Our goal is to do a rough breakdown so you have an idea of what your costs are and what you can expect to receive in sales revenues.
Below are approximations and averages to get to the bottom line. For example, each of us has worked with a variety of printers over the years. We normally advise an author/publisher to get at least three printing bids before they make a final decision. Sometimes it's not all about the cost per unit/book-the book may have special illustrations, tables and charts or a cover design that would be more suited for one printer over another, even though that printer was the high bidder.
Based on our experience, we know a book that has just a few copies printed will cost more per unit than one that has had a few thousand printed. Sometimes, it's a dollar more; sometimes, several.
You need to do your research and find out which way is best for you. Do you want to get your book out fast? Do you want t big name on your book....like Simon and Schuster? Do you mind giving a publisher your rights? Do you care about bookstore distribution?
Lots to thing about! Check with exerts before you sign anything.
Rick Frishman, the founder of Planned Television Arts/Media Connect, has been one of the leading book publicists in America for over 36 years.

Source: http://writing-asadeszw.blogspot.com/2012/09/the-new-new-way-of-publishing.html

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Source: http://gilliam749.typepad.com/blog/2012/09/writing-and-speaking-the-new-new-way-of-publishing.html

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Monday, 24 September 2012

Double amputee in wheelchair shot dead by Houston police

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Romney assails Obama after US ambassador's death

PUEBLO, Colo. (AP) ? Mitt Romney led a chorus of Republican criticism of the administration's foreign policy on Monday, accusing President Barack Obama of minimizing the recent killing of the U.S. ambassador to Libya as a mere "bump in the road" rather than part of a chain of events that threatens American interests.

White House press secretary Jay Carney called the accusations "desperate and offensive" as Romney and his allies sought to gain political advantage in the latter stages of a political campaign that seems to be trending Obama's way.

The president did not comment on the criticism when he and first lady Michelle Obama taped an appearance on ABC's "The View" that blended the personal with the political. Asked if a Romney presidency would be a disaster, Obama said the nation can "survive a lot." He added: "The American people don't want to just survive, we want to thrive."

The back and forth on foreign policy occurred as Romney said he was shifting to a more energetic schedule of public campaign events, bidding to reverse recent erosion in battleground state polls. After days spent largely raising campaign cash ? and trying to minimize the fallout from one speech to donors last spring ? he pledged to make the case for "real and positive change."

While national polls make the race exceedingly close, Obama has gained ground on Romney in many recent surveys when potential voters are asked to compare the two rivals in their ability to fix the economy. Sluggish growth and national unemployment of 8.1 percent make the economy by far the dominant issue in the race, and the two men have focused much of their time and advertising budgets on highlighting their differences on taxes, spending and plans for job creation.

The same polls show Obama with a healthy lead over Romney when voters are asked which candidate is better equipped to handle foreign policy, and the president has not shied away from trumpeting his decision to order the secret mission by U.S. forces that killed terrorism mastermind Osama bin Laden in his Pakistani hideout more than a year ago.

At the same time, Romney's advisers say voters are more inclined to question Obama's handling of foreign policy after the attack on the U.S. Consulate in Benghazi, Libya, earlier this month resulted in the death of the U.S. ambassador and three other Americans.

Not only Romney, but other Republicans, as well, challenged Obama on foreign policy on Monday.

In a conference call with reporters, Rep. Eric Cantor, R-Va., the House majority leader, said: "Israel continues to find itself on the receiving end of harsh language by the president of the White House. ... There is a somewhat continued pattern of throwing Israel under the bus when Israel stands as our closest ally."

And the National Republican Senatorial Committee issued challenges to Democratic candidates in several races to "share their view" on Obama's remarks in an interview with CBS' "60 Minutes" over the weekend.

In the interview itself, Obama was responding when asked if recent events in the Middle East gave him pause for supporting governments that came to power following a wave of regime changes known as the Arab Spring.

He said he has long noted that events were going to be rocky, adding that the question itself "presumes that somehow we could have stopped this wave of change."

"I think it was absolutely the right thing for us to align ourselves with democracy, universal rights. ... But I was pretty certain and continue to be pretty certain that there are going to be bumps in the road because ? you know, in a lot of these places ? the one organizing principle has been Islam."

He added: "There are strains of extremism, and anti-Americans, and anti-Western sentiments and you know can be tapped into by demagogues."

Romney was eager to talk about the topic, squeezing interviews with three television networks into his schedule and touching on the subject at the beginning of a rally in Pueblo, Colo.

"I can't imagine saying something like the assassination of ambassadors is a bump in the road, when you look at the entire context, the assassination, the Muslim Brotherhood president being elected in Egypt, 20,000 people killed in Syria, Iran close to becoming a nuclear nation, that these are far from being bumps in the road," he told ABC.

"They represent events that are spinning out of the kind of influence we'd like to have. We're at the mercy of events rather than shaping the events in the Middle East."

U.S. officials are investigating the deaths in Libya, which occurred when the consulate was breached.

In his appearance on "The View," the president avoided a direct answer when asked if the attack had been terrorism.

"There's no doubt that the kind of weapons that were used, the ongoing assault, that it wasn't just a mob action. What's clear is that, around the world, there are still a lot of threats out there," he said.

Romney intends to return to the subject of international affairs and discuss foreign aid, trade agreements and international development when he addresses the Clinton Global Initiative in New York on Tuesday, according to a person familiar with the campaign's thinking.

Romney, like Cantor, took a slap Monday at Obama's handling of relations with Israel.

"The president doesn't have time to actually spend time with leaders of these nations, particularly Bibi Netanyahu. I find that very troubling," he said.

In a campaign setting records for television advertising, both campaigns released new commercials during the day as Obama conceded some of his own had gone too far. "You know, do we see sometimes us going overboard in our campaign, the mistakes that are made in areas where there is no doubt that somebody could dispute how we are presenting things ? that happens in politics," he said during the "60 Minutes" taping. The remark was not part of the broadcast, but was posted to the CBS website.

___

AP White House Correspondent Ben Feller contributed from New York; Associated Press writers Jim Kuhnhenn and Philip Elliott contributed from Washington. Espo reported from Washington.

Source: http://news.yahoo.com/romney-assails-obama-us-ambassadors-death-210833811--election.html

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