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DeGeneres honored for lifetime as U.S. entertainer

Written By Unknown on Sabtu, 27 Oktober 2012 | 22.24

WASHINGTON (Reuters) - Ellen DeGeneres, an American entertainer and prominent gay rights advocate, received the highest U.S. award for achievement in comedy on Monday.

Receiving the Mark Twain Prize for American Humor at the Kennedy Center, the national showcase for arts, DeGeneres was praised as a pioneering female comic whose edgy variety show has helped define the format for daytime television in recent years.

But several guests also highlighted the comedian's groundbreaking decision 15 years ago to go public with her sexual identity in a career-rattling move the comedian said was a necessary step for personal dignity.

"I did it for me and it happened to help a lot of other people and cause a big ruckus," DeGeneres, 54, told reporters before the tribute, summarizing her decision in 1997 to come out publicly as gay in tandem with her on-screen character in a move that sparked controversy and prompted some advertisers to flee.

The Twain prize, named after the 19th century satirist, is the nation's highest honor for achievements in comedy.

A native of New Orleans, DeGeneres spent her twenties as an itinerant comedian on the Los Angeles nightclub circuit until prominent spots on late night television led to her own prime time sitcom.

The original show, Ellen, featured DeGeneres in the lead role as a bookshop owner in an idiosyncratic neighborhood. While the show got a boost after the star came out of the closet, it was over a few years later.

She later returned to the standup stage, and hosted the 2001 Emmy awards, which was postponed twice after the September 11 attacks - a somewhat subdued celebration that allowed her to try to lighten the national mood.

Several guests said that DeGeneres brought a compassion to her comedy that is rare in the field.

"The rest of us comics come from really messed-up, dark childhoods. She might have come from that, I don't know. But it's not what she puts forth," said John Leguizamo, who joined the tributes. "She just puts out this beautiful goodwill."

In the last 10 seasons on television, DeGeneres has left her mark with a daytime variety show which she often uses as a way to promote a commitment to gay equality.

"For a lot of people, Ellen is their only homosexual friend," said late night talk show host Jimmy Kimmel.

DeGeneres is the forth woman to receive the award since its inception in 1998.

Comedian and actor Will Ferrell won last year. Past award winners have included Bob Newhart, Steve Martin, Richard Pryor and Bill Cosby.

Monday night's ceremony will be broadcast on PBS on October 30.

(Reporting By Patrick Rucker; Editing by Mohammad Zargham)


22.24 | 0 komentar | Read More

Strauss-Kahn seeks comeback via conference circuit

PARIS (Reuters) - Dominique Strauss-Kahn, the former IMF chief whose French presidential ambitions were shattered by a sex scandal last year, is making a comeback in business and at conferences.

The 63-year-old Strauss-Kahn was accused of trying to rape a New York hotel maid in May 2011. He protested his innocence and criminal charges against him were dropped, though civil proceedings by the woman are still pending.

Now he is promoting himself as a consultant and guest speaker at far-flung points on the world's conference circuit, where participants can demand $100,000 or more to talk for an hour, and five times that sum for star performers such as former U.S. President Bill Clinton.

While Strauss-Kahn's itinerary for now will keep him at some distance from the financial capitals he used to frequent, experts say his economic policy experience and a contact book that many heads of state would envy will stand him in good stead.

"He has the potential to be enormously successful," says Roy Cohen, a New York-based career coach and author of "The Wall Street Professional's Survival Guide".

"He needs to be test-driven first ... If he is able to prove that his intervention and the consultancy advisory work he is doing is powerful and effective, he's going to generate interest."

Strauss-Kahn has been little seen in public in his native France, where until recently media have been portraying him as a shunned and lonely man. Yet in the past year he has delivered keynote speeches at conferences in China, Ukraine, Morocco and South Korea.

He was warmly applauded when he spoke about global economic prospects to hundreds of students and executives in Morocco in September, at an event where his hosts at a private university introduced him not with his grandest former title but simply as Professor Strauss-Kahn, the economist.

He is scheduled to make a second appearance in Morocco at an Arab banking congress in Casablanca in mid-November. Organizers of the meeting declined to comment when contacted by Reuters, as did others hosting conferences Strauss-Kahn is due to attend.

MAGAZINE PHOTO SHOOT

His come-back plan took another step forward last month when he lodged the founding statutes of a consultancy firm, called Parnasse, at the commercial court in Paris.

On top of conference work, public speaking and consulting, Parnasse's statutes show his ambitions stretch to finance, real estate and political services in France and abroad.

Strauss-Kahn this month also gave a rare magazine interview to France's "Le Point", which photographed him relaxing at his new apartment in Paris's Montparnasse district with a tablet computer in his hand.

It was a stark contrast to the image the world watched on TV in May 2011, as he trudged handcuffed and haggard to a U.S. courthouse to be jailed briefly on criminal charges, later dropped, of trying to rape hotel maid Nafissatou Diallo.

But the potential pitfalls that lie ahead were illustrated in March when police had to bundle him into a getaway car as protesting students clashed with security guards after he gave a speech on the world economy at Britain's Cambridge University.

The case will hang over for him for some time yet; though New York prosecutors dropped the charges on the grounds that Diallo was not a reliable witness, the date of her civil suit has yet to be determined.

And in France, a court will rule on November 28 whether to pursue a judicial investigation into a prostitution ring in which he was allegedly involved. He says he has done nothing illegal and is being pursued because of his libertine lifestyle.

Yet if Strauss-Kahn can put those cases behind him, Cohen said time would work in his favor and pointed to other big names on the conference circuit who overcame image problems.

Clinton, who survived sex scandals and an impeachment trial in the late 1990s, now makes millions of dollars a year attending high-profile events.

According to financial declarations his wife Hillary Clinton makes as U.S. Secretary of State, Clinton charged $750,000 for addressing a telecoms event in Hong Kong, and $500,000 for his presence at an Abu Dhabi conference on environmental data.

EURO ZONE PROBLEM SOLVER?

Sylvie Audibert, a Paris-based consultant who coaches corporate executives on topics from stress management to life-makeover decisions, said Europe's economic crisis could give Strauss-Kahn a perfect forum to use his talents.

He recently floated an idea under which Germany and France, which are enjoying low borrowing costs as investors see their debt as safe, devote some of their savings to helping weaker countries in the euro zone.

The idea has generated little visible interest, apart from a blog mention by former Irish Prime Minister John Bruton. Greek government sources have also quashed rumors that he is advising Athens over their debt troubles.

But Audibert said that like others who have held frontline posts in politics and global economic management, Strauss-Kahn may still harbor hopes of one day taking up a public policy role, perhaps at European level.

"We're talking about people with very big egos and very big ambitions," Audibert said. "I am not convinced his ultimate goal is to remain the adviser in the shadows."

Strauss-Kahn himself hinted at his longer-term ambitions in his interview with Le Point.

"I sense a possibility of investing myself in big international projects ... For the moment, my situation stands in the way."

(Additional reporting by Dina Kyriakidou; Editing by Catherine Bremer and Will Waterman)


22.24 | 0 komentar | Read More

Liz Taylor tops list of highest earning dead celebrities

NEW YORK (Reuters) - Elizabeth Taylor surpassed Michael Jackson as the highest-earning dead celebrity in the past year, with her estate pulling in $210 million, much of it from the auction of her jewels, costumes and artwork, Forbes said on Wednesday.

Jackson, who died in 2009, dropped into second place with earnings of $145 million, followed by Elvis Presley with $55 million.

In addition to the Taylor auction, which totaled $184 million, the actress, who passed away in 2011 at the age of 79, also earned $75 million from sales of her top selling perfume White Diamonds.

"The rest of the money came from property sales and residuals from Taylor's movies," according to Forbes. "After 'Cleopatra,' the star smartly negotiated a 10 percent ownership in each of her films."

Although Taylor bumped Jackson from the top spot, Forbes said the pop star is likely to regain it next year due to steady revenues from music sales and other ventures.

Cartoonist Charles Schulz, who created the Peanuts comic strip, came in at No. 4 with earnings of $37 million, followed by reggae star Bob Marley with $17 million.

Forbes compiled the ranking by analyzing the dead celebrities' earnings between October 2011-2012.

"We count money coming into the estate and we don't deduct for how the estate handles it," Forbes said.

Films stars and musicians dominated the list but Nobel-prize winning physicist Albert Einstein tied with Marilyn Monroe for seventh place, with each earning $10 million.

The 13 dead celebrities on the list earned a total of $532.5 million.

The full list can be found at http://www.forbes.com/special-report/2012/1024_dead-celebrities.html

(Reporting by Patricia Reaney, Editing by Christine Kearney and Tim Dobbyn)


22.24 | 0 komentar | Read More

Visa hires JPMorgan's Charles Scharf as CEO

(Reuters) - Visa Inc said Charles Scharf, a former head of JPMorgan Chase & Co's retail financial services division, will succeed Joseph Saunders as chief executive, effective November 1.

Visa's board had been looking for a successor to Saunders, 66, who has headed the company since 2007 and was expected to retire soon.

Scharf, 47, previously served on Visa's board from 2007 to January 2011.

Known as Charlie, Scharf was moved from JPMorgan's retail banking business to its private equity arm in 2011, after the lender shuffled several retail banking executives in a push to raise profit.

Scharf worked closely with Jamie Dimon, chairman and CEO of JPMorgan, when the two men were at Citigroup Inc in the 1990s. Scharf followed Dimon to Chicago-based Bank One, which was bought by JPMorgan in 2004.

Scharf is currently managing director at One Equity Partners, which manages $10 billion of investments and commitments for JPMorgan Chase.

"We believe Scharf's large-scale management experience is a good fit ... and our initial checks have been positive regarding his leadership style," Jefferies analyst Jason Kupferberg wrote in a note to clients.

Scharf's experience with JPMorgan will also help Visa. The bank is Visa's largest card issuer and accounts for about 10 percent of its profit, Kupferberg noted.

Scharf joins at a time that Visa, competitor MasterCard Inc, and card-issuing banks are trying to chart their courses through a storm of new digital technologies and companies that have come to the payments industry from outside of banking, such as eBay Inc's PayPal and Square Inc.

Analysts do not expect Scharf to spark major changes at the payment network.

"I think Visa is doing well. I think all he is going to be charged with is moving it forward in the same direction," Wedbush Securities analyst Gil Luria said.

The San Francisco-based company has already raised its full-year earnings forecast twice this year, as more people move to card-based payments globally.

Visa is scheduled to report fourth-quarter results on October 31.

Current CEO Saunders spearheaded Visa's 2008 initial public offering and will continue as executive chairman until March 31, after which Visa will appoint a new non-executive independent chairman.

Visa said Scharf would receive $950,000 per year in base salary and a bonus of up to 500 percent.

Scharf will also get a "make-whole" award of restricted stock and options worth $19 million, the company said in a filing with the U.S. Securities and Exchange Commission. The award is based in part of compensation Scharf is leaving behind at JPMorgan.

Saunders received $11.8 million in total pay in 2011, according to regulatory filings.

Shares of the credit and debit-card network were up less than 1 percent at $137.48 on the New York Stock Exchange on Wednesday afternoon.

(Reporting by Jochelle Mendonca in Bangalore and David Henry in New York; Editing by Supriya Kurane and Steve Orlofsky)


22.24 | 0 komentar | Read More

Obama tackles rape comments, "fiscal cliff" on TV talk show

BURBANK, California (Reuters) - President Barack Obama suspended the levity during an interview with late-night TV talk show host Jay Leno on Wednesday to address a Republican Senate candidate's assertion that pregnancies resulting from rape are intended by God and to express confidence that Washington could soon address the looming "fiscal cliff."

"I don't know how these guys come up with these ideas. Let me make a very simple proposition: rape is rape. It is a crime," Obama said on NBC's "The Tonight Show."

"This is exactly why you don't want a bunch of politicians, mostly male, making decisions about women's healthcare."

Indiana Republican Senate candidate Richard Mourdock's comments that pregnancies caused by rape are "something God intended to happen" echoed across the U.S. media and sent ripples through political circles ahead of the November 6 election.

The Obama campaign, which enjoys leads among women voters in many election battleground states, sought swiftly to connect Mourdock with Republican presidential candidate Mitt Romney. This summer Romney had to distance himself from remarks by another Republican Senate candidate, Todd Akin of Missouri, about what he called "legitimate rape."

In an interview full of jokes about marriage, Halloween and other topics, the Democratic president made a few serious comments, mostly about the hottest topic of the election: the economy.

Asked about the so-called fiscal cliff - a combination of automatic spending cuts and tax hikes set to kick in early next year - Obama said he was confident that a solution could be found before the end of the year.

"Solving this is not that hard. It requires some tough choices," Obama said, adding that some programs had to be cut and tax rates should go up for people making more than $250,000 a year.

"I hope that we can get it done by the end of this year. It just requires some compromise, which shouldn't be a dirty word."

On the economic crisis gripping the European Union, Obama said countries have been "kind of muddling along" and "they didn't respond as quickly as they could."

The United States is working with those nations to make sure they have a credible plan to maintain the unity of Europe, he added.

In a lighter moment, Obama joked about real estate mogul and TV personality Donald Trump, who recently posted a video challenging Obama to release documents about his education.

Trump has persistently questioned whether Obama, a native of Hawaii, was actually born in the United States, and Obama played off Trump's theories about his origins.

"This all dates back to when we were growing up together in Kenya," Obama joked. "We had, you know, constant run-ins on the soccer field. He wasn't very good and resented it."

(Additional reporting and writing by Lisa Lambert in Washington; Editing by Christopher Wilson)


22.24 | 0 komentar | Read More

DeGeneres honored for lifetime as U.S. entertainer

Written By Unknown on Jumat, 26 Oktober 2012 | 22.24

WASHINGTON (Reuters) - Ellen DeGeneres, an American entertainer and prominent gay rights advocate, received the highest U.S. award for achievement in comedy on Monday.

Receiving the Mark Twain Prize for American Humor at the Kennedy Center, the national showcase for arts, DeGeneres was praised as a pioneering female comic whose edgy variety show has helped define the format for daytime television in recent years.

But several guests also highlighted the comedian's groundbreaking decision 15 years ago to go public with her sexual identity in a career-rattling move the comedian said was a necessary step for personal dignity.

"I did it for me and it happened to help a lot of other people and cause a big ruckus," DeGeneres, 54, told reporters before the tribute, summarizing her decision in 1997 to come out publicly as gay in tandem with her on-screen character in a move that sparked controversy and prompted some advertisers to flee.

The Twain prize, named after the 19th century satirist, is the nation's highest honor for achievements in comedy.

A native of New Orleans, DeGeneres spent her twenties as an itinerant comedian on the Los Angeles nightclub circuit until prominent spots on late night television led to her own prime time sitcom.

The original show, Ellen, featured DeGeneres in the lead role as a bookshop owner in an idiosyncratic neighborhood. While the show got a boost after the star came out of the closet, it was over a few years later.

She later returned to the standup stage, and hosted the 2001 Emmy awards, which was postponed twice after the September 11 attacks - a somewhat subdued celebration that allowed her to try to lighten the national mood.

Several guests said that DeGeneres brought a compassion to her comedy that is rare in the field.

"The rest of us comics come from really messed-up, dark childhoods. She might have come from that, I don't know. But it's not what she puts forth," said John Leguizamo, who joined the tributes. "She just puts out this beautiful goodwill."

In the last 10 seasons on television, DeGeneres has left her mark with a daytime variety show which she often uses as a way to promote a commitment to gay equality.

"For a lot of people, Ellen is their only homosexual friend," said late night talk show host Jimmy Kimmel.

DeGeneres is the forth woman to receive the award since its inception in 1998.

Comedian and actor Will Ferrell won last year. Past award winners have included Bob Newhart, Steve Martin, Richard Pryor and Bill Cosby.

Monday night's ceremony will be broadcast on PBS on October 30.

(Reporting By Patrick Rucker; Editing by Mohammad Zargham)


22.24 | 0 komentar | Read More

Strauss-Kahn seeks comeback via conference circuit

PARIS (Reuters) - Dominique Strauss-Kahn, the former IMF chief whose French presidential ambitions were shattered by a sex scandal last year, is making a comeback in business and at conferences.

The 63-year-old Strauss-Kahn was accused of trying to rape a New York hotel maid in May 2011. He protested his innocence and criminal charges against him were dropped, though civil proceedings by the woman are still pending.

Now he is promoting himself as a consultant and guest speaker at far-flung points on the world's conference circuit, where participants can demand $100,000 or more to talk for an hour, and five times that sum for star performers such as former U.S. President Bill Clinton.

While Strauss-Kahn's itinerary for now will keep him at some distance from the financial capitals he used to frequent, experts say his economic policy experience and a contact book that many heads of state would envy will stand him in good stead.

"He has the potential to be enormously successful," says Roy Cohen, a New York-based career coach and author of "The Wall Street Professional's Survival Guide".

"He needs to be test-driven first ... If he is able to prove that his intervention and the consultancy advisory work he is doing is powerful and effective, he's going to generate interest."

Strauss-Kahn has been little seen in public in his native France, where until recently media have been portraying him as a shunned and lonely man. Yet in the past year he has delivered keynote speeches at conferences in China, Ukraine, Morocco and South Korea.

He was warmly applauded when he spoke about global economic prospects to hundreds of students and executives in Morocco in September, at an event where his hosts at a private university introduced him not with his grandest former title but simply as Professor Strauss-Kahn, the economist.

He is scheduled to make a second appearance in Morocco at an Arab banking congress in Casablanca in mid-November. Organizers of the meeting declined to comment when contacted by Reuters, as did others hosting conferences Strauss-Kahn is due to attend.

MAGAZINE PHOTO SHOOT

His come-back plan took another step forward last month when he lodged the founding statutes of a consultancy firm, called Parnasse, at the commercial court in Paris.

On top of conference work, public speaking and consulting, Parnasse's statutes show his ambitions stretch to finance, real estate and political services in France and abroad.

Strauss-Kahn this month also gave a rare magazine interview to France's "Le Point", which photographed him relaxing at his new apartment in Paris's Montparnasse district with a tablet computer in his hand.

It was a stark contrast to the image the world watched on TV in May 2011, as he trudged handcuffed and haggard to a U.S. courthouse to be jailed briefly on criminal charges, later dropped, of trying to rape hotel maid Nafissatou Diallo.

But the potential pitfalls that lie ahead were illustrated in March when police had to bundle him into a getaway car as protesting students clashed with security guards after he gave a speech on the world economy at Britain's Cambridge University.

The case will hang over for him for some time yet; though New York prosecutors dropped the charges on the grounds that Diallo was not a reliable witness, the date of her civil suit has yet to be determined.

And in France, a court will rule on November 28 whether to pursue a judicial investigation into a prostitution ring in which he was allegedly involved. He says he has done nothing illegal and is being pursued because of his libertine lifestyle.

Yet if Strauss-Kahn can put those cases behind him, Cohen said time would work in his favor and pointed to other big names on the conference circuit who overcame image problems.

Clinton, who survived sex scandals and an impeachment trial in the late 1990s, now makes millions of dollars a year attending high-profile events.

According to financial declarations his wife Hillary Clinton makes as U.S. Secretary of State, Clinton charged $750,000 for addressing a telecoms event in Hong Kong, and $500,000 for his presence at an Abu Dhabi conference on environmental data.

EURO ZONE PROBLEM SOLVER?

Sylvie Audibert, a Paris-based consultant who coaches corporate executives on topics from stress management to life-makeover decisions, said Europe's economic crisis could give Strauss-Kahn a perfect forum to use his talents.

He recently floated an idea under which Germany and France, which are enjoying low borrowing costs as investors see their debt as safe, devote some of their savings to helping weaker countries in the euro zone.

The idea has generated little visible interest, apart from a blog mention by former Irish Prime Minister John Bruton. Greek government sources have also quashed rumors that he is advising Athens over their debt troubles.

But Audibert said that like others who have held frontline posts in politics and global economic management, Strauss-Kahn may still harbor hopes of one day taking up a public policy role, perhaps at European level.

"We're talking about people with very big egos and very big ambitions," Audibert said. "I am not convinced his ultimate goal is to remain the adviser in the shadows."

Strauss-Kahn himself hinted at his longer-term ambitions in his interview with Le Point.

"I sense a possibility of investing myself in big international projects ... For the moment, my situation stands in the way."

(Additional reporting by Dina Kyriakidou; Editing by Catherine Bremer and Will Waterman)


22.24 | 0 komentar | Read More

Liz Taylor tops list of highest earning dead celebrities

NEW YORK (Reuters) - Elizabeth Taylor surpassed Michael Jackson as the highest-earning dead celebrity in the past year, with her estate pulling in $210 million, much of it from the auction of her jewels, costumes and artwork, Forbes said on Wednesday.

Jackson, who died in 2009, dropped into second place with earnings of $145 million, followed by Elvis Presley with $55 million.

In addition to the Taylor auction, which totaled $184 million, the actress, who passed away in 2011 at the age of 79, also earned $75 million from sales of her top selling perfume White Diamonds.

"The rest of the money came from property sales and residuals from Taylor's movies," according to Forbes. "After 'Cleopatra,' the star smartly negotiated a 10 percent ownership in each of her films."

Although Taylor bumped Jackson from the top spot, Forbes said the pop star is likely to regain it next year due to steady revenues from music sales and other ventures.

Cartoonist Charles Schulz, who created the Peanuts comic strip, came in at No. 4 with earnings of $37 million, followed by reggae star Bob Marley with $17 million.

Forbes compiled the ranking by analyzing the dead celebrities' earnings between October 2011-2012.

"We count money coming into the estate and we don't deduct for how the estate handles it," Forbes said.

Films stars and musicians dominated the list but Nobel-prize winning physicist Albert Einstein tied with Marilyn Monroe for seventh place, with each earning $10 million.

The 13 dead celebrities on the list earned a total of $532.5 million.

The full list can be found at http://www.forbes.com/special-report/2012/1024_dead-celebrities.html

(Reporting by Patricia Reaney, Editing by Christine Kearney and Tim Dobbyn)


22.24 | 0 komentar | Read More

Visa hires JPMorgan's Charles Scharf as CEO

(Reuters) - Visa Inc said Charles Scharf, a former head of JPMorgan Chase & Co's retail financial services division, will succeed Joseph Saunders as chief executive, effective November 1.

Visa's board had been looking for a successor to Saunders, 66, who has headed the company since 2007 and was expected to retire soon.

Scharf, 47, previously served on Visa's board from 2007 to January 2011.

Known as Charlie, Scharf was moved from JPMorgan's retail banking business to its private equity arm in 2011, after the lender shuffled several retail banking executives in a push to raise profit.

Scharf worked closely with Jamie Dimon, chairman and CEO of JPMorgan, when the two men were at Citigroup Inc in the 1990s. Scharf followed Dimon to Chicago-based Bank One, which was bought by JPMorgan in 2004.

Scharf is currently managing director at One Equity Partners, which manages $10 billion of investments and commitments for JPMorgan Chase.

"We believe Scharf's large-scale management experience is a good fit ... and our initial checks have been positive regarding his leadership style," Jefferies analyst Jason Kupferberg wrote in a note to clients.

Scharf's experience with JPMorgan will also help Visa. The bank is Visa's largest card issuer and accounts for about 10 percent of its profit, Kupferberg noted.

Scharf joins at a time that Visa, competitor MasterCard Inc, and card-issuing banks are trying to chart their courses through a storm of new digital technologies and companies that have come to the payments industry from outside of banking, such as eBay Inc's PayPal and Square Inc.

Analysts do not expect Scharf to spark major changes at the payment network.

"I think Visa is doing well. I think all he is going to be charged with is moving it forward in the same direction," Wedbush Securities analyst Gil Luria said.

The San Francisco-based company has already raised its full-year earnings forecast twice this year, as more people move to card-based payments globally.

Visa is scheduled to report fourth-quarter results on October 31.

Current CEO Saunders spearheaded Visa's 2008 initial public offering and will continue as executive chairman until March 31, after which Visa will appoint a new non-executive independent chairman.

Visa said Scharf would receive $950,000 per year in base salary and a bonus of up to 500 percent.

Scharf will also get a "make-whole" award of restricted stock and options worth $19 million, the company said in a filing with the U.S. Securities and Exchange Commission. The award is based in part of compensation Scharf is leaving behind at JPMorgan.

Saunders received $11.8 million in total pay in 2011, according to regulatory filings.

Shares of the credit and debit-card network were up less than 1 percent at $137.48 on the New York Stock Exchange on Wednesday afternoon.

(Reporting by Jochelle Mendonca in Bangalore and David Henry in New York; Editing by Supriya Kurane and Steve Orlofsky)


22.24 | 0 komentar | Read More

Obama tackles rape comments, "fiscal cliff" on TV talk show

BURBANK, California (Reuters) - President Barack Obama suspended the levity during an interview with late-night TV talk show host Jay Leno on Wednesday to address a Republican Senate candidate's assertion that pregnancies resulting from rape are intended by God and to express confidence that Washington could soon address the looming "fiscal cliff."

"I don't know how these guys come up with these ideas. Let me make a very simple proposition: rape is rape. It is a crime," Obama said on NBC's "The Tonight Show."

"This is exactly why you don't want a bunch of politicians, mostly male, making decisions about women's healthcare."

Indiana Republican Senate candidate Richard Mourdock's comments that pregnancies caused by rape are "something God intended to happen" echoed across the U.S. media and sent ripples through political circles ahead of the November 6 election.

The Obama campaign, which enjoys leads among women voters in many election battleground states, sought swiftly to connect Mourdock with Republican presidential candidate Mitt Romney. This summer Romney had to distance himself from remarks by another Republican Senate candidate, Todd Akin of Missouri, about what he called "legitimate rape."

In an interview full of jokes about marriage, Halloween and other topics, the Democratic president made a few serious comments, mostly about the hottest topic of the election: the economy.

Asked about the so-called fiscal cliff - a combination of automatic spending cuts and tax hikes set to kick in early next year - Obama said he was confident that a solution could be found before the end of the year.

"Solving this is not that hard. It requires some tough choices," Obama said, adding that some programs had to be cut and tax rates should go up for people making more than $250,000 a year.

"I hope that we can get it done by the end of this year. It just requires some compromise, which shouldn't be a dirty word."

On the economic crisis gripping the European Union, Obama said countries have been "kind of muddling along" and "they didn't respond as quickly as they could."

The United States is working with those nations to make sure they have a credible plan to maintain the unity of Europe, he added.

In a lighter moment, Obama joked about real estate mogul and TV personality Donald Trump, who recently posted a video challenging Obama to release documents about his education.

Trump has persistently questioned whether Obama, a native of Hawaii, was actually born in the United States, and Obama played off Trump's theories about his origins.

"This all dates back to when we were growing up together in Kenya," Obama joked. "We had, you know, constant run-ins on the soccer field. He wasn't very good and resented it."

(Additional reporting and writing by Lisa Lambert in Washington; Editing by Christopher Wilson)


22.24 | 0 komentar | Read More

Goldman book was not meant to be an expose: author

Written By Unknown on Kamis, 25 Oktober 2012 | 22.24

JOHANNESBURG (Reuters) - The former Goldman Sachs Group Inc vice president who publicly accused the bank of taking advantage of unsuspecting clients said he never intended his book to be an expose of practices at the Wall Street firm.

Preliminary reviews of Greg Smith's "Why I Left Goldman Sachs," which hits bookstores on Monday, have been lackluster. Critics say the book contains few revelations, given that it had been hyped as a "tell all" look at the investment bank.

Smith, a native of South Africa, told Reuters in a phone interview on Sunday that his book was not meant to be a manual for change on Wall Street. Instead, he said he wanted to shine a light on what was wrong in investment banking and how ordinary people - not the super-wealthy - pay for it.

"People are looking for something sensationalist and expose-like," said Smith, who sold equity derivatives at Goldman. "I would like people to look at it in a thoughtful manner, with an objective sense that Wall Street has do to things that are right.

"I didn't write this book for Wall Street, I just wanted to give the Main Street people a window into what goes on, so they could make their own judgment."

Smith created a furor earlier this year when he resigned from Goldman, saying in a New York Times op-ed column that the firm had engendered a "toxic" culture of treating clients as "muppets" - slang in Britain for idiots - and relieving them of their money.

Smith then promised the book about the bank, building up expectations of new insights about the culture at Goldman.

Grand Central Publishing, a unit of Hachette, planned a print run of 150,000 copies for the book. That is considered a relatively big number for a first run, although many will also be sold through e-book formats.

The publisher declined to say how much it had paid Smith for the book, but media reports said he had received $1.5 million as an upfront payment.

Smith's op-ed piece and his plans to write a book prompted a public relations campaign and internal inquiries at the bank, as it tried to avoid another hit to its image after suffering a barrage of bad publicity in recent years.

"The Goldman Sachs Mr. Smith describes is not one our employees would recognize," a spokesman for the firm said on Sunday. "Mr. Smith has asked for answers, yet he did not respond to our repeated attempts to contact him after his abrupt departure earlier this year."

Goldman has said it looked into Smith's allegations - including the use of "muppet" in emails - and turned up little. The bank says that unless Smith provides specific examples, it cannot check what he is alleging.

Although "Why I Left Goldman Sachs" does not reveal a new scandal at the firm, Smith said he believed his book shines a spotlight on a worsening culture of greed on Wall Street.

Smith, who worked for Goldman in London, said the company would overcharge customers, such as charities or funds managing the pensions of teachers and firemen, or sell them products they did not need and did not understand.

In some cases, Smith said, traders would use knowledge of the clients' business to make easy bets against them.

"When you're trying to make an extra $2 million off a teachers' retirement fund, it doesn't jive at least with the values that I felt," he said. "There is no criminal activity because it's legal. But it should not be allowed, because it's unethical."

Smith, who quit his $500,000-a-year job at the bank, said he would do more to push for change in finance.

"I am in a rush to spread a message and get mainstream people to realize there is a big problem and to be outraged that no one fixed it," Smith said.

"There is a real absence of people within the financial industry trying to advocate for positive reform," he said. "I would like to try to be part of that conversation."

(Additional reporting by Lauren Tara LaCapra in New York; Editing by Paritosh Bansal and Lisa Von Ahn)


22.24 | 0 komentar | Read More

DeGeneres honored for lifetime as U.S. entertainer

WASHINGTON (Reuters) - Ellen DeGeneres, an American entertainer and prominent gay rights advocate, received the highest U.S. award for achievement in comedy on Monday.

Receiving the Mark Twain Prize for American Humor at the Kennedy Center, the national showcase for arts, DeGeneres was praised as a pioneering female comic whose edgy variety show has helped define the format for daytime television in recent years.

But several guests also highlighted the comedian's groundbreaking decision 15 years ago to go public with her sexual identity in a career-rattling move the comedian said was a necessary step for personal dignity.

"I did it for me and it happened to help a lot of other people and cause a big ruckus," DeGeneres, 54, told reporters before the tribute, summarizing her decision in 1997 to come out publicly as gay in tandem with her on-screen character in a move that sparked controversy and prompted some advertisers to flee.

The Twain prize, named after the 19th century satirist, is the nation's highest honor for achievements in comedy.

A native of New Orleans, DeGeneres spent her twenties as an itinerant comedian on the Los Angeles nightclub circuit until prominent spots on late night television led to her own prime time sitcom.

The original show, Ellen, featured DeGeneres in the lead role as a bookshop owner in an idiosyncratic neighborhood. While the show got a boost after the star came out of the closet, it was over a few years later.

She later returned to the standup stage, and hosted the 2001 Emmy awards, which was postponed twice after the September 11 attacks - a somewhat subdued celebration that allowed her to try to lighten the national mood.

Several guests said that DeGeneres brought a compassion to her comedy that is rare in the field.

"The rest of us comics come from really messed-up, dark childhoods. She might have come from that, I don't know. But it's not what she puts forth," said John Leguizamo, who joined the tributes. "She just puts out this beautiful goodwill."

In the last 10 seasons on television, DeGeneres has left her mark with a daytime variety show which she often uses as a way to promote a commitment to gay equality.

"For a lot of people, Ellen is their only homosexual friend," said late night talk show host Jimmy Kimmel.

DeGeneres is the forth woman to receive the award since its inception in 1998.

Comedian and actor Will Ferrell won last year. Past award winners have included Bob Newhart, Steve Martin, Richard Pryor and Bill Cosby.

Monday night's ceremony will be broadcast on PBS on October 30.

(Reporting By Patrick Rucker; Editing by Mohammad Zargham)


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Visa hires JPMorgan's Charles Scharf as CEO

(Reuters) - Visa Inc said Charles Scharf, a former head of JPMorgan Chase & Co's retail financial services division, will succeed Joseph Saunders as chief executive, effective November 1.

Visa's board had been looking for a successor to Saunders, 66, who has headed the company since 2007 and was expected to retire soon.

Scharf, 47, previously served on Visa's board from 2007 to January 2011.

Known as Charlie, Scharf was moved from JPMorgan's retail banking business to its private equity arm in 2011, after the lender shuffled several retail banking executives in a push to raise profit.

Scharf worked closely with Jamie Dimon, chairman and CEO of JPMorgan, when the two men were at Citigroup Inc in the 1990s. Scharf followed Dimon to Chicago-based Bank One, which was bought by JPMorgan in 2004.

Scharf is currently managing director at One Equity Partners, which manages $10 billion of investments and commitments for JPMorgan Chase.

"We believe Scharf's large-scale management experience is a good fit ... and our initial checks have been positive regarding his leadership style," Jefferies analyst Jason Kupferberg wrote in a note to clients.

Scharf's experience with JPMorgan will also help Visa. The bank is Visa's largest card issuer and accounts for about 10 percent of its profit, Kupferberg noted.

Scharf joins at a time that Visa, competitor MasterCard Inc, and card-issuing banks are trying to chart their courses through a storm of new digital technologies and companies that have come to the payments industry from outside of banking, such as eBay Inc's PayPal and Square Inc.

Analysts do not expect Scharf to spark major changes at the payment network.

"I think Visa is doing well. I think all he is going to be charged with is moving it forward in the same direction," Wedbush Securities analyst Gil Luria said.

The San Francisco-based company has already raised its full-year earnings forecast twice this year, as more people move to card-based payments globally.

Visa is scheduled to report fourth-quarter results on October 31.

Current CEO Saunders spearheaded Visa's 2008 initial public offering and will continue as executive chairman until March 31, after which Visa will appoint a new non-executive independent chairman.

Visa said Scharf would receive $950,000 per year in base salary and a bonus of up to 500 percent.

Scharf will also get a "make-whole" award of restricted stock and options worth $19 million, the company said in a filing with the U.S. Securities and Exchange Commission. The award is based in part of compensation Scharf is leaving behind at JPMorgan.

Saunders received $11.8 million in total pay in 2011, according to regulatory filings.

Shares of the credit and debit-card network were up less than 1 percent at $137.48 on the New York Stock Exchange on Wednesday afternoon.

(Reporting by Jochelle Mendonca in Bangalore and David Henry in New York; Editing by Supriya Kurane and Steve Orlofsky)


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Strauss-Kahn seeks comeback via conference circuit

PARIS (Reuters) - Dominique Strauss-Kahn, the former IMF chief whose French presidential ambitions were shattered by a sex scandal last year, is making a comeback in business and at conferences.

The 63-year-old Strauss-Kahn was accused of trying to rape a New York hotel maid in May 2011. He protested his innocence and criminal charges against him were dropped, though civil proceedings by the woman are still pending.

Now he is promoting himself as a consultant and guest speaker at far-flung points on the world's conference circuit, where participants can demand $100,000 or more to talk for an hour, and five times that sum for star performers such as former U.S. President Bill Clinton.

While Strauss-Kahn's itinerary for now will keep him at some distance from the financial capitals he used to frequent, experts say his economic policy experience and a contact book that many heads of state would envy will stand him in good stead.

"He has the potential to be enormously successful," says Roy Cohen, a New York-based career coach and author of "The Wall Street Professional's Survival Guide".

"He needs to be test-driven first ... If he is able to prove that his intervention and the consultancy advisory work he is doing is powerful and effective, he's going to generate interest."

Strauss-Kahn has been little seen in public in his native France, where until recently media have been portraying him as a shunned and lonely man. Yet in the past year he has delivered keynote speeches at conferences in China, Ukraine, Morocco and South Korea.

He was warmly applauded when he spoke about global economic prospects to hundreds of students and executives in Morocco in September, at an event where his hosts at a private university introduced him not with his grandest former title but simply as Professor Strauss-Kahn, the economist.

He is scheduled to make a second appearance in Morocco at an Arab banking congress in Casablanca in mid-November. Organizers of the meeting declined to comment when contacted by Reuters, as did others hosting conferences Strauss-Kahn is due to attend.

MAGAZINE PHOTO SHOOT

His come-back plan took another step forward last month when he lodged the founding statutes of a consultancy firm, called Parnasse, at the commercial court in Paris.

On top of conference work, public speaking and consulting, Parnasse's statutes show his ambitions stretch to finance, real estate and political services in France and abroad.

Strauss-Kahn this month also gave a rare magazine interview to France's "Le Point", which photographed him relaxing at his new apartment in Paris's Montparnasse district with a tablet computer in his hand.

It was a stark contrast to the image the world watched on TV in May 2011, as he trudged handcuffed and haggard to a U.S. courthouse to be jailed briefly on criminal charges, later dropped, of trying to rape hotel maid Nafissatou Diallo.

But the potential pitfalls that lie ahead were illustrated in March when police had to bundle him into a getaway car as protesting students clashed with security guards after he gave a speech on the world economy at Britain's Cambridge University.

The case will hang over for him for some time yet; though New York prosecutors dropped the charges on the grounds that Diallo was not a reliable witness, the date of her civil suit has yet to be determined.

And in France, a court will rule on November 28 whether to pursue a judicial investigation into a prostitution ring in which he was allegedly involved. He says he has done nothing illegal and is being pursued because of his libertine lifestyle.

Yet if Strauss-Kahn can put those cases behind him, Cohen said time would work in his favor and pointed to other big names on the conference circuit who overcame image problems.

Clinton, who survived sex scandals and an impeachment trial in the late 1990s, now makes millions of dollars a year attending high-profile events.

According to financial declarations his wife Hillary Clinton makes as U.S. Secretary of State, Clinton charged $750,000 for addressing a telecoms event in Hong Kong, and $500,000 for his presence at an Abu Dhabi conference on environmental data.

EURO ZONE PROBLEM SOLVER?

Sylvie Audibert, a Paris-based consultant who coaches corporate executives on topics from stress management to life-makeover decisions, said Europe's economic crisis could give Strauss-Kahn a perfect forum to use his talents.

He recently floated an idea under which Germany and France, which are enjoying low borrowing costs as investors see their debt as safe, devote some of their savings to helping weaker countries in the euro zone.

The idea has generated little visible interest, apart from a blog mention by former Irish Prime Minister John Bruton. Greek government sources have also quashed rumors that he is advising Athens over their debt troubles.

But Audibert said that like others who have held frontline posts in politics and global economic management, Strauss-Kahn may still harbor hopes of one day taking up a public policy role, perhaps at European level.

"We're talking about people with very big egos and very big ambitions," Audibert said. "I am not convinced his ultimate goal is to remain the adviser in the shadows."

Strauss-Kahn himself hinted at his longer-term ambitions in his interview with Le Point.

"I sense a possibility of investing myself in big international projects ... For the moment, my situation stands in the way."

(Additional reporting by Dina Kyriakidou; Editing by Catherine Bremer and Will Waterman)


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Liz Taylor tops list of highest earning dead celebrities

NEW YORK (Reuters) - Elizabeth Taylor surpassed Michael Jackson as the highest-earning dead celebrity in the past year, with her estate pulling in $210 million, much of it from the auction of her jewels, costumes and artwork, Forbes said on Wednesday.

Jackson, who died in 2009, dropped into second place with earnings of $145 million, followed by Elvis Presley with $55 million.

In addition to the Taylor auction, which totaled $184 million, the actress, who passed away in 2011 at the age of 79, also earned $75 million from sales of her top selling perfume White Diamonds.

"The rest of the money came from property sales and residuals from Taylor's movies," according to Forbes. "After 'Cleopatra,' the star smartly negotiated a 10 percent ownership in each of her films."

Although Taylor bumped Jackson from the top spot, Forbes said the pop star is likely to regain it next year due to steady revenues from music sales and other ventures.

Cartoonist Charles Schulz, who created the Peanuts comic strip, came in at No. 4 with earnings of $37 million, followed by reggae star Bob Marley with $17 million.

Forbes compiled the ranking by analyzing the dead celebrities' earnings between October 2011-2012.

"We count money coming into the estate and we don't deduct for how the estate handles it," Forbes said.

Films stars and musicians dominated the list but Nobel-prize winning physicist Albert Einstein tied with Marilyn Monroe for seventh place, with each earning $10 million.

The 13 dead celebrities on the list earned a total of $532.5 million.

The full list can be found at http://www.forbes.com/special-report/2012/1024_dead-celebrities.html

(Reporting by Patricia Reaney, Editing by Christine Kearney and Tim Dobbyn)


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Goldman book was not meant to be an expose: author

Written By Unknown on Rabu, 24 Oktober 2012 | 22.24

JOHANNESBURG (Reuters) - The former Goldman Sachs Group Inc vice president who publicly accused the bank of taking advantage of unsuspecting clients said he never intended his book to be an expose of practices at the Wall Street firm.

Preliminary reviews of Greg Smith's "Why I Left Goldman Sachs," which hits bookstores on Monday, have been lackluster. Critics say the book contains few revelations, given that it had been hyped as a "tell all" look at the investment bank.

Smith, a native of South Africa, told Reuters in a phone interview on Sunday that his book was not meant to be a manual for change on Wall Street. Instead, he said he wanted to shine a light on what was wrong in investment banking and how ordinary people - not the super-wealthy - pay for it.

"People are looking for something sensationalist and expose-like," said Smith, who sold equity derivatives at Goldman. "I would like people to look at it in a thoughtful manner, with an objective sense that Wall Street has do to things that are right.

"I didn't write this book for Wall Street, I just wanted to give the Main Street people a window into what goes on, so they could make their own judgment."

Smith created a furor earlier this year when he resigned from Goldman, saying in a New York Times op-ed column that the firm had engendered a "toxic" culture of treating clients as "muppets" - slang in Britain for idiots - and relieving them of their money.

Smith then promised the book about the bank, building up expectations of new insights about the culture at Goldman.

Grand Central Publishing, a unit of Hachette, planned a print run of 150,000 copies for the book. That is considered a relatively big number for a first run, although many will also be sold through e-book formats.

The publisher declined to say how much it had paid Smith for the book, but media reports said he had received $1.5 million as an upfront payment.

Smith's op-ed piece and his plans to write a book prompted a public relations campaign and internal inquiries at the bank, as it tried to avoid another hit to its image after suffering a barrage of bad publicity in recent years.

"The Goldman Sachs Mr. Smith describes is not one our employees would recognize," a spokesman for the firm said on Sunday. "Mr. Smith has asked for answers, yet he did not respond to our repeated attempts to contact him after his abrupt departure earlier this year."

Goldman has said it looked into Smith's allegations - including the use of "muppet" in emails - and turned up little. The bank says that unless Smith provides specific examples, it cannot check what he is alleging.

Although "Why I Left Goldman Sachs" does not reveal a new scandal at the firm, Smith said he believed his book shines a spotlight on a worsening culture of greed on Wall Street.

Smith, who worked for Goldman in London, said the company would overcharge customers, such as charities or funds managing the pensions of teachers and firemen, or sell them products they did not need and did not understand.

In some cases, Smith said, traders would use knowledge of the clients' business to make easy bets against them.

"When you're trying to make an extra $2 million off a teachers' retirement fund, it doesn't jive at least with the values that I felt," he said. "There is no criminal activity because it's legal. But it should not be allowed, because it's unethical."

Smith, who quit his $500,000-a-year job at the bank, said he would do more to push for change in finance.

"I am in a rush to spread a message and get mainstream people to realize there is a big problem and to be outraged that no one fixed it," Smith said.

"There is a real absence of people within the financial industry trying to advocate for positive reform," he said. "I would like to try to be part of that conversation."

(Additional reporting by Lauren Tara LaCapra in New York; Editing by Paritosh Bansal and Lisa Von Ahn)


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Filmmaker Tony Scott died with anti-depressant, sleep aid in system

LOS ANGELES (Reuters) - Filmmaker Tony Scott had an anti-depressant and sleep aid in his bloodstream when he leapt to his death from a suspension bridge in August, the Los Angeles County Coroner's office said on Monday.

Preliminary autopsy results confirmed that Scott's death, which baffled investigators and much of Hollywood, was a suicide, caused by blunt force trauma and drowning.

The 68-year-old British-born director of such blockbusters as "Top Gun" and "Beverly Hills Cop II" had therapeutic levels of the anti-depressant Mirtazapine and the prescription sleep-aid Lunesta in his system, coroner's investigators found.

But the findings shed no light on a motive for Scott to commit suicide. A coroner's spokesman said a final report was still two weeks away.

Family members have dismissed early reports that Scott was suffering from inoperable brain cancer and Craig Harvey, operations chief for the coroner, has previously said that there were no obvious signs of a tumor. The preliminary autopsy report made no mention of any evidence of serious illness.

Investigators have offered no theories as to why Scott took his life, and a note he left behind did not explain the suicide.

The last person to see Scott was an onlooker parking his car on the Vincent Thomas Bridge over Los Angeles Harbor, who saw the director leap into the water just after noon on August 19. His body was recovered by law enforcement several hours later.

The bridge, the surface of which clears the harbor's navigation channel by a height of about 185 feet, connects the port district of San Pedro at the southern tip of Los Angeles to Terminal Island in the harbor.

Scott, born in northern England and frequently seen behind the camera in his signature faded red baseball cap, is credited with directing more than two dozen movies and television shows and producing nearly 50 titles.

He built a reputation for muscular but stylish high-octane thrillers that showcased some of Hollywood's biggest stars in a body of work that dated to the 1980s and established him as one of the most successful action directors in the business.

At the time of his death, Scott was reported to be involved in developing several film projects including a sequel to his biggest hit, the 1986 fighter-jet adventure "Top Gun," which starred Tom Cruise.

The brother of Oscar-winning director Ridley Scott, he is survived by his third wife, Donna, with whom he had two children.

(Editing by Cynthia Johnston and Mohammad Zargham)


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DeGeneres honored for lifetime as U.S. entertainer

WASHINGTON (Reuters) - Ellen DeGeneres, an American entertainer and prominent gay rights advocate, received the highest U.S. award for achievement in comedy on Monday.

Receiving the Mark Twain Prize for American Humor at the Kennedy Center, the national showcase for arts, DeGeneres was praised as a pioneering female comic whose edgy variety show has helped define the format for daytime television in recent years.

But several guests also highlighted the comedian's groundbreaking decision 15 years ago to go public with her sexual identity in a career-rattling move the comedian said was a necessary step for personal dignity.

"I did it for me and it happened to help a lot of other people and cause a big ruckus," DeGeneres, 54, told reporters before the tribute, summarizing her decision in 1997 to come out publicly as gay in tandem with her on-screen character in a move that sparked controversy and prompted some advertisers to flee.

The Twain prize, named after the 19th century satirist, is the nation's highest honor for achievements in comedy.

A native of New Orleans, DeGeneres spent her twenties as an itinerant comedian on the Los Angeles nightclub circuit until prominent spots on late night television led to her own prime time sitcom.

The original show, Ellen, featured DeGeneres in the lead role as a bookshop owner in an idiosyncratic neighborhood. While the show got a boost after the star came out of the closet, it was over a few years later.

She later returned to the standup stage, and hosted the 2001 Emmy awards, which was postponed twice after the September 11 attacks - a somewhat subdued celebration that allowed her to try to lighten the national mood.

Several guests said that DeGeneres brought a compassion to her comedy that is rare in the field.

"The rest of us comics come from really messed-up, dark childhoods. She might have come from that, I don't know. But it's not what she puts forth," said John Leguizamo, who joined the tributes. "She just puts out this beautiful goodwill."

In the last 10 seasons on television, DeGeneres has left her mark with a daytime variety show which she often uses as a way to promote a commitment to gay equality.

"For a lot of people, Ellen is their only homosexual friend," said late night talk show host Jimmy Kimmel.

DeGeneres is the forth woman to receive the award since its inception in 1998.

Comedian and actor Will Ferrell won last year. Past award winners have included Bob Newhart, Steve Martin, Richard Pryor and Bill Cosby.

Monday night's ceremony will be broadcast on PBS on October 30.

(Reporting By Patrick Rucker; Editing by Mohammad Zargham)


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Singer Bobby Brown arrested in LA for drunken driving: police

(Reuters) - Rhythm and blues star Bobby Brown, ex-husband of the late Whitney Houston, was arrested in Los Angeles and charged with driving under the influence of alcohol, Los Angeles police said on Wednesday.

Brown was stopped by police at the intersection of Corbin Avenue and Ventura Boulevard, north of Topanga Canyon in Los Angeles, LAPD officer Rosario Herrera said.

Herrera could not immediately provide additional details of the arrest, which was Brown's second this year for drunken driving.

Celebrity online news service TMZ, citing law enforcement sources, said Brown was driving erratically, and when stopped, officers smelled alcohol on his breath. He failed a sobriety test, TMZ said.

In March, Brown was arrested on the same charge, pleaded no contest in April, and went to a treatment center for alcohol abuse over the summer.

In June, Brown married his manager, Alicia Etheridge, in Hawaii, four months after the Houston's death in a Los Angeles hotel room.

(Reporting by Chris Francescani; Editing by Dan Burns and Jackie Frank)


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Visa hires JPMorgan's Charles Scharf as CEO

(Reuters) - Visa Inc said Charles Scharf, a former head of JPMorgan Chase & Co's retail financial services division, will succeed Joseph Saunders as chief executive, effective November 1.

Visa's board had been looking for a successor to Saunders, who has headed the company since 2007 and was expected to retire soon.

Scharf is also returning to Visa's board. He previously served on the board from 2007 to January 2011.

Scharf was moved from JPMorgan's retail banking business to its private equity arm in 2011, after the lender shuffled several retail banking executives in a push to raise profit.

He is currently managing director at One Equity Partners, which manages $10 billion of investments and commitments for JPMorgan Chase.

"We believe Scharf's large-scale management experience is a good fit... and our initial checks have been positive regarding his leadership style," Jefferies analyst Jason Kupferberg wrote in a note to clients.

Scharf's experience with JPMorgan will also help Visa. The bank is Visa's largest card issuer and accounts for about 10 percent of its profit, Kupferberg noted.

Analysts do not expect Scharf to spark major changes at the payment network.

"I think Visa is doing well. I think all he is going to be charged with is moving it forward in the same direction," Wedbush Securities analyst Gil Luria said.

The San Francisco-based company has already raised its full-year earnings forecast twice this year, as more people move to card-based payments globally.

Visa is scheduled to report its fourth-quarter results on October 31.

Current CEO Saunders, 66, spearheaded Visa's 2008 initial public offering and will continue as executive chairman until March 31, after which Visa will appoint a new non-executive independent chairman.

Visa said Scharf would be paid $950,000 per year in base salary and a bonus of up to 500 percent.

Scharf will also receive restricted stock and options worth $19 million, the company said in a filing with the U.S. Securities and Exchange Commission.

Saunders received $11.8 million in total pay in 2011, according to regulatory filings.

Shares of the credit and debit-card network were up 1 percent at $138.05 on the New York Stock Exchange on Wednesday morning.

(Reporting by Jochelle Mendonca in Bangalore; Editing by Supriya Kurane)


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Tom Hanks slips from nice guy rep with a Big-worthy swear

Written By Unknown on Selasa, 23 Oktober 2012 | 22.24

(Note: story contains expletive in paragraph five)

(Reuters) - Tom Hanks, the "Big" star often cited for his family-friendly appeal, may have put a dent in his G-rated reputation on Friday when he uttered a particularly grown-up word on ABC's "Good Morning America."

Hanks appeared on the show to promote his coming science fiction/philosophical movie "Cloud Atlas" when anchor Elizabeth Vargas coaxed him into speaking a few lines in the voice of his character in the film.

Hanks, whose credits also include "Forrest Gump," "Sleepless in Seattle" and the "Toy Story" series, initially balked at the suggestion because his character in the new movie speaks in expletive-riddled sentences.

Vargas then suggested he just speak in the accent of his character, eccentric physician Henry Goose. Several seconds into the impersonation, out came the F-bomb.

"Oy, oy, I want people to buy me book ... me fucking book," Hanks said, instantly realizing his gaffe and throwing his hand over his mouth.

"We are so sorry, uhhh, Good Morning America," a visibly flushed Vargas said straight away.

Hanks also immediately apologized.

"Man, oh man," Hanks said. "I'm so sorry. I slipped into a brand of acting."

"I have never done that before," he said. "I would apologize to the kids in America watching this right now."

"And let me say that next time I am on the show there will be a 7-second delay," Hanks said.

ABC issued the following statement: "This morning Tom Hanks accidentally used an expletive during a live interview on GMA with Elizabeth Vargas. They both immediately apologized on air, and the show was corrected for all subsequent feeds."

The unedited clip is still available on the Internet.

(Reporting by Dan Burns; Editing by Jackie Frank)


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Anna Nicole Smith lawyer Howard Stern back on the hook for conspiracy charges

LOS ANGELES (TheWrap.com) - Howard K. Stern, the former lawyer and domestic partner of deceased actress/heiress/Playboy Playmate Anna Nicole Smith, suffered a blow Thursday in the ongoing legal saga over Smith's death, when a California court of appeal reversed his acquittal on two conspiracy charges.

In October, a judge reversed Stern's earlier conviction on two felony conspiracy charges related to obtaining drugs for Smith under false names, saying there was insufficient evidence.

The appeals court, reversed that decision Thursday, and also reversed the dismissal of charges against Dr. Khristine Elaine Eroshevich, who prescribed drugs for Smith in the period leading up to her death.

"As to defendant, Howard Kevin Stern, the new trial and dismissal orders are reversed," Thursday's ruling reads. "The verdicts as to counts 1 and 3 are ordered reinstated."

It's unclear what the next step is for Stern; according to the ruling, the trial court that ruled in October can dismiss on grounds other than insufficient evidence or impose sentence, but cannot retry Stern due to the rule of double jeopardy.

(Pamela Chelin contributed to this report)


22.24 | 0 komentar | Read More

Goldman book was not meant to be an expose: author

JOHANNESBURG (Reuters) - The former Goldman Sachs Group Inc vice president who publicly accused the bank of taking advantage of unsuspecting clients said he never intended his book to be an expose of practices at the Wall Street firm.

Preliminary reviews of Greg Smith's "Why I Left Goldman Sachs," which hits bookstores on Monday, have been lackluster. Critics say the book contains few revelations, given that it had been hyped as a "tell all" look at the investment bank.

Smith, a native of South Africa, told Reuters in a phone interview on Sunday that his book was not meant to be a manual for change on Wall Street. Instead, he said he wanted to shine a light on what was wrong in investment banking and how ordinary people - not the super-wealthy - pay for it.

"People are looking for something sensationalist and expose-like," said Smith, who sold equity derivatives at Goldman. "I would like people to look at it in a thoughtful manner, with an objective sense that Wall Street has do to things that are right.

"I didn't write this book for Wall Street, I just wanted to give the Main Street people a window into what goes on, so they could make their own judgment."

Smith created a furor earlier this year when he resigned from Goldman, saying in a New York Times op-ed column that the firm had engendered a "toxic" culture of treating clients as "muppets" - slang in Britain for idiots - and relieving them of their money.

Smith then promised the book about the bank, building up expectations of new insights about the culture at Goldman.

Grand Central Publishing, a unit of Hachette, planned a print run of 150,000 copies for the book. That is considered a relatively big number for a first run, although many will also be sold through e-book formats.

The publisher declined to say how much it had paid Smith for the book, but media reports said he had received $1.5 million as an upfront payment.

Smith's op-ed piece and his plans to write a book prompted a public relations campaign and internal inquiries at the bank, as it tried to avoid another hit to its image after suffering a barrage of bad publicity in recent years.

"The Goldman Sachs Mr. Smith describes is not one our employees would recognize," a spokesman for the firm said on Sunday. "Mr. Smith has asked for answers, yet he did not respond to our repeated attempts to contact him after his abrupt departure earlier this year."

Goldman has said it looked into Smith's allegations - including the use of "muppet" in emails - and turned up little. The bank says that unless Smith provides specific examples, it cannot check what he is alleging.

Although "Why I Left Goldman Sachs" does not reveal a new scandal at the firm, Smith said he believed his book shines a spotlight on a worsening culture of greed on Wall Street.

Smith, who worked for Goldman in London, said the company would overcharge customers, such as charities or funds managing the pensions of teachers and firemen, or sell them products they did not need and did not understand.

In some cases, Smith said, traders would use knowledge of the clients' business to make easy bets against them.

"When you're trying to make an extra $2 million off a teachers' retirement fund, it doesn't jive at least with the values that I felt," he said. "There is no criminal activity because it's legal. But it should not be allowed, because it's unethical."

Smith, who quit his $500,000-a-year job at the bank, said he would do more to push for change in finance.

"I am in a rush to spread a message and get mainstream people to realize there is a big problem and to be outraged that no one fixed it," Smith said.

"There is a real absence of people within the financial industry trying to advocate for positive reform," he said. "I would like to try to be part of that conversation."

(Additional reporting by Lauren Tara LaCapra in New York; Editing by Paritosh Bansal and Lisa Von Ahn)


22.24 | 0 komentar | Read More

Filmmaker Tony Scott died with anti-depressant, sleep aid in system

LOS ANGELES (Reuters) - Filmmaker Tony Scott had an anti-depressant and sleep aid in his bloodstream when he leapt to his death from a suspension bridge in August, the Los Angeles County Coroner's office said on Monday.

Preliminary autopsy results confirmed that Scott's death, which baffled investigators and much of Hollywood, was a suicide, caused by blunt force trauma and drowning.

The 68-year-old British-born director of such blockbusters as "Top Gun" and "Beverly Hills Cop II" had therapeutic levels of the anti-depressant Mirtazapine and the prescription sleep-aid Lunesta in his system, coroner's investigators found.

But the findings shed no light on a motive for Scott to commit suicide. A coroner's spokesman said a final report was still two weeks away.

Family members have dismissed early reports that Scott was suffering from inoperable brain cancer and Craig Harvey, operations chief for the coroner, has previously said that there were no obvious signs of a tumor. The preliminary autopsy report made no mention of any evidence of serious illness.

Investigators have offered no theories as to why Scott took his life, and a note he left behind did not explain the suicide.

The last person to see Scott was an onlooker parking his car on the Vincent Thomas Bridge over Los Angeles Harbor, who saw the director leap into the water just after noon on August 19. His body was recovered by law enforcement several hours later.

The bridge, the surface of which clears the harbor's navigation channel by a height of about 185 feet, connects the port district of San Pedro at the southern tip of Los Angeles to Terminal Island in the harbor.

Scott, born in northern England and frequently seen behind the camera in his signature faded red baseball cap, is credited with directing more than two dozen movies and television shows and producing nearly 50 titles.

He built a reputation for muscular but stylish high-octane thrillers that showcased some of Hollywood's biggest stars in a body of work that dated to the 1980s and established him as one of the most successful action directors in the business.

At the time of his death, Scott was reported to be involved in developing several film projects including a sequel to his biggest hit, the 1986 fighter-jet adventure "Top Gun," which starred Tom Cruise.

The brother of Oscar-winning director Ridley Scott, he is survived by his third wife, Donna, with whom he had two children.

(Editing by Cynthia Johnston and Mohammad Zargham)


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DeGeneres honored for lifetime as U.S. entertainer

WASHINGTON (Reuters) - Ellen DeGeneres, an American entertainer and prominent gay rights advocate, received the highest U.S. award for achievement in comedy on Monday.

Receiving the Mark Twain Prize for American Humor at the Kennedy Center, the national showcase for arts, DeGeneres was praised as a pioneering female comic whose edgy variety show has helped define the format for daytime television in recent years.

But several guests also highlighted the comedian's groundbreaking decision 15 years ago to go public with her sexual identity in a career-rattling move the comedian said was a necessary step for personal dignity.

"I did it for me and it happened to help a lot of other people and cause a big ruckus," DeGeneres, 54, told reporters before the tribute, summarizing her decision in 1997 to come out publicly as gay in tandem with her on-screen character in a move that sparked controversy and prompted some advertisers to flee.

The Twain prize, named after the 19th century satirist, is the nation's highest honor for achievements in comedy.

A native of New Orleans, DeGeneres spent her twenties as an itinerant comedian on the Los Angeles nightclub circuit until prominent spots on late night television led to her own prime time sitcom.

The original show, Ellen, featured DeGeneres in the lead role as a bookshop owner in an idiosyncratic neighborhood. While the show got a boost after the star came out of the closet, it was over a few years later.

She later returned to the standup stage, and hosted the 2001 Emmy awards, which was postponed twice after the September 11 attacks - a somewhat subdued celebration that allowed her to try to lighten the national mood.

Several guests said that DeGeneres brought a compassion to her comedy that is rare in the field.

"The rest of us comics come from really messed-up, dark childhoods. She might have come from that, I don't know. But it's not what she puts forth," said John Leguizamo, who joined the tributes. "She just puts out this beautiful goodwill."

In the last 10 seasons on television, DeGeneres has left her mark with a daytime variety show which she often uses as a way to promote a commitment to gay equality.

"For a lot of people, Ellen is their only homosexual friend," said late night talk show host Jimmy Kimmel.

DeGeneres is the forth woman to receive the award since its inception in 1998.

Comedian and actor Will Ferrell won last year. Past award winners have included Bob Newhart, Steve Martin, Richard Pryor and Bill Cosby.

Monday night's ceremony will be broadcast on PBS on October 30.

(Reporting By Patrick Rucker; Editing by Mohammad Zargham)


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Woman hit by school bus in Loveland dies, driver faces charge

Written By Unknown on Senin, 22 Oktober 2012 | 22.24

A 70-year-old woman who was hit by a school bus in Loveland has died of her injuries.

The incident happened at about 8:50 a.m. Wednesday as the bus driver was trying to make a turn. No students were aboard the Thompson School District bus at the time.

The victim was identified Monday morning as Norma Selzler. She died on on Friday, police said.

The bus driver, Tracy McDowell, 37, will be charged with one count of careless driving resulting in death, the police department said in a media release.

Kieran Nicholson: 303-954-1822, knicholson@denverpost.com or twitter.com/kierannicholson

Copyright 2012 The Denver Post. All rights reserved.
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Russell Means, Indian activist, actor, dies at 72

Click photo to enlarge
FILE - In a Jan. 31, 1989 file photo, Russell Means, who heads the American Indian Movement, (AIM) testifies before a special investigative committee of the Senate Select Committee on Capitol Hill, in Washington. Means, a former American Indian Movement activist who helped lead the 1973 uprising at Wounded Knee, reveled in stirring up attention and appeared in several Hollywood films, died early Monday, Oct. 22, 2012 at his ranch Zzxin Porcupine, S.D., Oglala Sioux Tribe spokeswoman Donna Solomon said. He was 72.
SIOUX FALLS, S.D.—Russell Means, a former American Indian Movement activist who helped lead the 1973 uprising at Wounded Knee, reveled in stirring up attention and appeared in several Hollywood films, has died. He was 72.

Means died early Monday at his ranch in in Porcupine, S.D., Oglala Sioux Tribe spokeswoman Donna Salomon said.

Means, a Wanblee native who grew up in the San Francisco area, announced in August 2011 that he had developed inoperable throat cancer. He told The Associated Press he was forgoing mainstream medical treatments in favor of traditional American Indian remedies and alternative treatments away from his home on the Pine Ridge Indian Reservation.

Means was an early leader of AIM and led its armed occupation of the South Dakota town of Wounded Knee, a 71-day siege that included several gunbattles with federal officers. He often was embroiled in controversy, partly because of AIM's alleged involvement in the 1975 slaying of Annie Mae Aquash. But Means also was known for his role in the movie "The Last of the Mohicans" and had run unsuccessfully for the Libertarian nomination for president in 1988.

AIM was founded in the late 1960s to protest the U.S. government's treatment of Native Americans and demand the government honor its treaties with Indian tribes. Means told the AP in 2011 that before AIM, there had been no advocate on a national or international scale for American Indians, and that Native Americans were ashamed of their heritage.

"No one except Hollywood stars and very rich Texans wore Indian jewelry," Means said. "And there was a plethora of dozens if not hundreds of athletic teams that in essence were insulting us, from grade schools to college. That's all changed."

The movement eventually faded away, the result of Native Americans becoming self-aware and self-determined, Means said.

Paul DeMain, publisher of Indian Country Today, said there were plenty of Indian activists before AIM but that the group became the "radical media gorilla."

"If someone needed help, you called on the American Indian Movement and they showed up and caused all kind of ruckus and looked beautiful on a 20-minute clip on TV that night," DeMain said.

Means said he felt his most important accomplishment was the founding of the Republic of Lakotah and the "re-establishment of our freedom to be responsible" as a sovereign nation inside the borders of the United States. His efforts to have his proposed country recognized by the international community continued at the United Nations, he said, even as it was ignored by tribal governments closer to home, including his own Oglala Sioux Tribe.

But others may remember him for his former organization's connection to Aquash's slaying. Her death remains synonymous with AIM and its often-violent clashes with federal agents in the 1970s.

Authorities believe three AIM members shot and killed Aquash on the Pine Ridge reservation on the orders of someone in AIM's leadership because they suspected she was an FBI informant. Two activists—Arlo Looking Cloud and John Graham—both were eventually convicted of murder. The third never has been charged.

Means blamed Vernon Bellecourt, another AIM leader, for ordering Aquash's killing. Bellecourt denied the allegations in a 2004 interview, four years before he died.

DeMain, an Indian journalist who researched the case, said AIM's leaders know who ordered Aquash's killing but have covered up the truth for decades.

Also in 1975, murder charges were filed against Means and Dick Marshall, an AIM member, in the shooting death of Martin Montileaux of Kyle at the Longbranch Saloon in Scenic. Marshall served 24 years in prison. Means was acquitted.

In addition to his presidential bid, Means also briefly served as a vice presidential candidate in 1984, joining the Larry Flynt ticket during the Hustler magazine publisher's unsuccessful bid for the Republican nomination.

But Means always considered himself a Libertarian and couldn't believe that anyone would want to call themselves either a Republican or a Democrat.

"It's just unconscionable that America has become so stupid," he said.

His acting career began in 1992 when he portrayed Chingachgook alongside Daniel Day-Lewis' Hawkeye in "The Last of the Mohicans." He also appeared in the 1994 film "Natural Born Killers," voiced Chief Powhatan in the 1995 animated film "Pocahontas" and guest starred in 2004 on the HBO series "Curb Your Enthusiasm."

Means recounted his life in the book "Where White Men Fear to Tread." He said he pulled no punches in his autobiography, admitting to his frailties and evils but also acknowledging his successes.

"I tell the truth, and I expose myself as a weak, misguided, misdirected, dysfunctional human being I used to be," he said.

Means death came a day after former U.S. Sen. George McGovern died in Sioux Falls at the age of 90. McGovern had traveled to Wounded Knee with U.S. Sen. James Abourezk during the 71-day takeover to try to negotiate an end.

"I've lost two good friends in a matter of two to three days," Abourezk said Monday morning. "I don't pretend to understand it."

————

Associated Press writer Kristi Eaton contributed to this report.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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World's oldest survivor of Auschwitz dies at 108

WARSAW, Poland—The oldest known survivor of the Auschwitz concentration camp—a teacher who gave lessons in defiance of his native Poland's Nazi occupiers—has died at the age of 108, an official said Monday.

Antoni Dobrowolski died Sunday in the northwestern Polish town of Debno, according to Jaroslaw Mensfelt, a spokesman at the Auschwitz-Birkenau state museum.

After invading Poland in 1939, sparking World War II, the Germans banned anything beyond four years of elementary education in a bid to crush Polish culture and the country's intelligentsia. The Germans considered the Poles an inferior race and the education policy was part of a plan to use Poles as a "slave race."

An underground effort by Poles to continue to teach children immediately emerged, with those caught punished by being sent to concentration camps or prisons. Dobrowolski was among the Poles engaged in the underground effort, and he arrested by the Gestapo and sent to Auschwitz in 1942.

Dobrowolski, who was born Oct. 8, 1904 in Wolborz, a town in central Poland, was later moved to the concentration camps of Gross-Rosen and then Sachsenhausen, where he was liberated in the spring of 1945 at the war's end, according to information provided by the Auschwitz memorial museum in southern Poland.

At least 1.1 million people were killed by the Germans at Auschwitz-Birkenau. Most of the victims were Jews, but many non-Jewish Poles, Roma and others were also killed there.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Stabbing attempt on Finnish leader thwarted

HELSINKI—A government spokesman says that security guards stopped a knife-wielding man from stabbing Finland's prime minister while he was campaigning for municipal elections.

Kari Mokko, a spokesman for Prime Minister Jyrki Katainen, said the man was stopped before he was able to reach the prime minister.

The attempted attack occurred in the southwestern city of Turku, where Katainen was campaigning ahead of Sunday's municipal elections.

Mokko could not give any details on the suspect. He said the prime minister was not hurt.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Early voting begins in Colorado

DENVER—It's the first of many Election Days in Colorado, as early in-person voting gets underway.

Starting Monday, voters can cast ballots at locations in each county, or drop off ballots they filled out at home and received by mail.

Politicians from both parties urge their supporters to vote early, before the polls close on the evening of Nov. 6. Their enthusiasm comes in part from the fact that early voters can then spend their time encouraging friends and neighbors to vote. Vice President Joe Biden made the appeal in person last week in Greeley, and Republican presidential nominee Mitt Romney will do the same Tuesday at Red Rocks Amphitheater in Morrison.

———

Online:

Find an early voting location: http://www.justvotecolorado.org

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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George McGovern dies; lost 1972 presidential bid

Written By Unknown on Minggu, 21 Oktober 2012 | 22.24

SIOUX FALLS, S.D.—George McGovern once joked that he had wanted to run for president in the worst way—and that he had done so.

It was a campaign in 1972 dishonored by Watergate, a scandal that fully unfurled too late to knock Republican President Richard M. Nixon from his place as a commanding favorite for re-election. The South Dakota senator tried to make an issue out of the bungled attempt to wiretap the offices of the Democratic National Committee, calling Nixon the most corrupt president in history.

A proud liberal who had argued fervently against Vietnam War as a Democratic senator from South Dakota and three-time candidate for president, McGovern died at 5:15 a.m. local time Sunday at a Sioux Falls hospice, surrounded by family and lifelong friends, family spokesman Steve Hildebrand told The Associated Press. McGovern was 90.

The family had said late last week that McGovern had become unresponsive while in hospice care.

"We are blessed to know that our father lived a long, successful and productive life advocating for the hungry, being a progressive voice for millions and fighting for peace. He continued giving speeches, writing and advising all the way up to and past his 90th birthday, which he celebrated this summer," the family said in the statement.

Hildebrand said funeral services were to be held in Sioux Falls and details would be announced shortly.

McGovern could not escape the embarrassing missteps of his own campaign of 1972. The most torturous was the selection of Missouri Sen. Thomas F. Eagleton as the vice presidential nominee and, 18 days later, following the disclosure that Eagleton had undergone electroshock therapy for depression, the decision to drop him from the ticket despite having pledged to back him "1,000 percent."

It was at once the most memorable and the most damaging line of his campaign, and called "possibly the most single damaging faux pas ever made by a presidential candidate" by the late political writer Theodore H. White.

After a hard day's campaigning—Nixon did virtually none—McGovern would complain to those around him that nobody was paying attention. With R. Sargent Shriver as his running mate, he went on to carry only Massachusetts and the District of Columbia, winning just 38 percent of the popular vote in one of the biggest landslides losses in American presidential history.

"Tom and I ran into a little snag back in 1972 that in the light of my much advanced wisdom today, I think was vastly exaggerated," McGovern said at an event with Eagleton in 2005. Noting that Nixon and his running mate, Spiro Agnew, would both ultimately resign, he joked, "If we had run in '74 instead of '72, it would have been a piece of cake."

A decorated World War II bomber pilot, McGovern said he learned to hate war by waging it. In his disastrous race against Nixon, he promised to end the Vietnam War and cut defense spending by billions of dollars. He helped create the Food for Peace program and spent much of his career believing the United States should be more accommodating to the former Soviet Union.

Never a showman, he made his case with a style as plain as the prairies where he grew up, sounding often more like the Methodist minister he'd once studied to become than longtime U.S. senator and three-time candidate for president he became.

And he never shied from the word "liberal," even as other Democrats blanched at the word and Republicans used it as an epithet.

"I am a liberal and always have been," McGovern said in 2001. "Just not the wild-eyed character the Republicans made me out to be."

McGovern's campaign, nevertheless, left a lasting imprint on American politics. Determined not to make the same mistake, presidential nominees have since interviewed and intensely investigated their choices for vice president. Former President Bill Clinton got his start in politics when he signed on as a campaign worker for McGovern and is among the legion of Democrats who credit him with inspiring them to public service.

"I believe no other presidential candidate ever has had such an enduring impact in defeat," Clinton said in 2006 at the dedication of McGovern's library in Mitchell, S.D. "Senator, the fires you lit then still burn in countless hearts."

George Stanley McGovern was born on July 19, 1922, in the small farm town of Avon, S.D, the son of a Methodist pastor. He was raised in Mitchell, shy and quiet until he was recruited for the high school debate team and found his niche. He enrolled at Dakota Wesleyan University in his hometown and, already a private pilot, volunteered for the Army Air Force soon after the Japanese attack on Pearl Harbor.

The Army didn't have enough airfields or training planes to take him until 1943. He married his wife, Eleanor Stegeberg, and arrived in Italy the next year. That would be his base for the 35 missions he flew in the B-24 Liberator christened the "Dakota Queen" after his new bride.

In a December 1944 bombing raid on the Czech city of Pilsen, McGovern's plane was hit by anti-aircraft fire that disabled one engine and set fire to another. He nursed the B-24 back to a British airfield on an island in the Adriatic Sea, earning the Distinguished Flying Cross. On his final mission, his plane was hit several times, but he managed to get it back safety—one of the actions for which he received the Air Medal.

McGovern returned to Mitchell and graduated from Dakota Wesleyan after the war's end, and after a year of divinity school, switched to the study of history and political science at Northwestern University. He earned his master's and doctoral degrees, returned to Dakota Wesleyan to teach history and government, and switched from his family's Republican roots to the Democratic Party.

"I think it was my study of history that convinced me that the Democratic Party was more on the side of the average American," he said.

In the early 1950s, Democrats held no major offices in South Dakota and only a handful of legislative seats. McGovern, who had gotten into Democratic politics as a campaign volunteer, left teaching in 1953 to become executive secretary of the South Dakota Democratic Party. Three years later, he won an upset election to the House; he served two terms and left to run for Senate.

Challenging conservative Republican Sen. Karl Mundt in 1960, he lost what he called his "worst campaign." He said later that he'd hated Mundt so much that he'd lost his sense of balance.

President John F. Kennedy named McGovern head of the Food for Peace program, which sends U.S. commodities to deprived areas around the world. He made a second Senate bid in 1962, unseating Sen. Joe Bottum by just 597 votes. He was the first Democrat elected to the U.S. Senate from South Dakota since 1930.

In his first year in office, McGovern took to the Senate floor to say that the Vietnam war was a trap that would haunt the United States—a speech that drew little notice. He voted the following August in favor of the Gulf of Tonkin resolution under which President Lyndon B. Johnson escalated the U.S. war in the southeast Asian nation.

While McGovern continued to vote to pay for the war, he did so while speaking against it. As the war escalated, so did his opposition. Late in 1969, McGovern called for a cease-fire in Vietnam and the withdrawal of all U.S. troops within a year. He later co-sponsored a Senate amendment to cut off appropriations for the war by the end of 1971. It failed, but not before McGovern had taken the floor to declare "this chamber reeks of blood" and to demand an end to "this damnable war."

McGovern first sought the Democratic presidential nomination late in the 1968 campaign, saying he would take up the cause of the assassinated Sen. Robert F. Kennedy. He finished far behind Vice President Hubert H. Humphrey, who won the nomination, and Minnesota Sen. Eugene McCarthy, who had led the anti-war challenge to Johnson in the primaries earlier in the year. McGovern later called his bid an "anti-organization" effort against the Humphrey steamroller.

"At least I have precluded the possibility of peaking too early," McGovern quipped at the time.

The following year, McGovern led a Democratic Party reform commission that shifted to voters' power that had been wielded by party leaders and bosses at the national conventions. The result was the system of presidential primary elections and caucuses that now selects the Democratic and Republican presidential nominees.

In 1972, McGovern ran under the rules he had helped write. Initially considered a longshot against Sen. Edmund S. Muskie of Maine, McGovern built a bottom-up campaign organization and went to the Democratic national convention in command. He was the first candidate to gain a nominating majority in the primaries before the convention.

It was a meeting filled with intramural wrangling and speeches that verged on filibusters. By the time McGovern delivered his climactic speech accepting the nomination, it was 2:48 a.m., and with most of America asleep, he lost his last and best chance to make his case to a nationwide audience.

McGovern did not know before selecting Eagleton of his running mate's mental health woes, and after dropping him from the ticket, struggled to find a replacement. Several Democrats said no, and a joke made the rounds that there was a signup sheet in the Senate cloakroom. Shriver, a member of the Kennedy family, finally agreed.

The campaign limped into the fall on a platform advocating withdrawal from Vietnam in exchange for the release of POWs, cutting defense spending by a third and establishing an income floor for all Americans. McGovern had dropped an early proposal to give every American $1,000 a year, but the Republicans continued to ridicule it as "the demogrant." They painted McGovern as an extreme leftist and Democrats as the party of "amnesty, abortion and acid."

While McGovern said little about his decorated service in World War II, Republicans depicted him as a weak peace activist. At one point, McGovern was forced to defend himself against assertions he had shirked combat.

He'd had enough when a young man at the airport fence in Battle Creek, Mich., taunted that Nixon would clobber him. McGovern leaned in and said quietly: "I've got a secret for you. Kiss my ass." A conservative Senate colleague later told McGovern it was his best line of the campaign.

Defeated by Nixon, McGovern returned to the Senate and pressed there to end the Vietnam war while championing agriculture, anti-hunger and food stamp programs in the United States and food programs abroad. He won re-election to the Senate in 1974, by which point he could make wry jokes about his presidential defeat.

"For many years, I wanted to run for the presidency in the worst possible way—and last year, I sure did," he told a formal press dinner in Washington.

After losing his bid for a fourth Senate term in the 1980 Republican landslide that made Ronald Reagan president, McGovern went on to teach and lecture at universities, and found a liberal political action committee. He made a longshot bid in the 1984 presidential race with a call to end U.S. military involvement in Lebanon and Central America and open arms talks with the Soviets. Former Vice President Walter Mondale won the Democratic nomination and went on to lose to President Ronald Reagan by an even bigger margin in electoral votes than had McGovern to Nixon.

He talked of running a final time for president in 1992, but decided it was time for somebody younger and with fewer political scars.

After his career in office ended, McGovern served as U.S. ambassador to the Rome-based United Nation's food agencies from 1998 to 2001 and spent his later years working to feed needy children around the world. He and former Republican Sen. Bob Dole collaborated to create an international food for education and child nutrition program, for which they shared the 2008 World Food Prize.

"I want to live long enough to see all of the 300 million school-age kids around the world who are not being fed be given a good nutritional lunch every day," McGovern said in 2006.

His opposition to armed conflict remained a constant long after he retired. Shortly before Iowa's caucuses in 2004, McGovern endorsed retired Gen. Wesley Clark, and compared his own opposition to the Vietnam War to Clark's criticism of President George W. Bush's decision to wage war in Iraq. One of the 10 books McGovern wrote was 2006's "Out of Iraq: A Practical Plan for Withdrawal Now," written with William R. Polk.

In early 2002, George and Eleanor McGovern returned to Mitchell, where they helped raise money for a library bearing their names. Eleanor McGovern died there in 2007 at age 85; they had been married 64 years, and had four daughters and a son.

"I don't know what kind of president I would have been, but Eleanor would have been a great first lady," he said after his wife's death in 2007.

One of their daughters, Teresa, was found dead in a Madison, Wis., snowdrift in 1994 after battling alcoholism for years. He recounted her struggle in his 1996 book "Terry," and described the writing of it as "the most painful undertaking in my life." It was briefly a best seller and he used the proceeds to help set up a treatment center for victims of alcoholism and mental illness in Madison.

Before the 2008 presidential campaign, McGovern endorsed Sen. Hillary Clinton for the Democratic nomination but switched to Barack Obama that May. He called the future president "a moderate," cautious in his ways, who wouldn't waste money or do "anything reckless."

"I think Barack will emerge as one of our great ones," he said in a 2009 interview with The Associated Press. "It will be a victory for moderate liberalism."

———

Online:

McGovern Center for Leadership and Public Service: http://www.mcgoverncenter.com

———

EDITOR'S NOTE—Walter R. Mears, who reported on government and politics for The Associated Press in Washington for 40 years, covered George McGovern in the Senate and in his 1972 presidential campaign.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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