Flu season fuels debate over paid sick time laws


NEW YORK (AP) — Sniffling, groggy and afraid she had caught the flu, Diana Zavala dragged herself in to work anyway for a day she felt she couldn't afford to miss.


A school speech therapist who works as an independent contractor, she doesn't have paid sick days. So the mother of two reported to work and hoped for the best — and was aching, shivering and coughing by the end of the day. She stayed home the next day, then loaded up on medicine and returned to work.


"It's a balancing act" between physical health and financial well-being, she said.


An unusually early and vigorous flu season is drawing attention to a cause that has scored victories but also hit roadblocks in recent years: mandatory paid sick leave for a third of civilian workers — more than 40 million people — who don't have it.


Supporters and opponents are particularly watching New York City, where lawmakers are weighing a sick leave proposal amid a competitive mayoral race.


Pointing to a flu outbreak that the governor has called a public health emergency, dozens of doctors, nurses, lawmakers and activists — some in surgical masks — rallied Friday on the City Hall steps to call for passage of the measure, which has awaited a City Council vote for nearly three years. Two likely mayoral contenders have also pressed the point.


The flu spike is making people more aware of the argument for sick pay, said Ellen Bravo, executive director of Family Values at Work, which promotes paid sick time initiatives around the country. "There's people who say, 'OK, I get it — you don't want your server coughing on your food,'" she said.


Advocates have cast paid sick time as both a workforce issue akin to parental leave and "living wage" laws, and a public health priority.


But to some business owners, paid sick leave is an impractical and unfair burden for small operations. Critics also say the timing is bad, given the choppy economy and the hardships inflicted by Superstorm Sandy.


Michael Sinensky, an owner of seven bars and restaurants around the city, was against the sick time proposal before Sandy. And after the storm shut down four of his restaurants for days or weeks, costing hundreds of thousands of dollars that his insurers have yet to pay, "we're in survival mode."


"We're at the point, right now, where we cannot afford additional social initiatives," said Sinensky, whose roughly 500 employees switch shifts if they can't work, an arrangement that some restaurateurs say benefits workers because paid sick time wouldn't include tips.


Employees without sick days are more likely to go to work with a contagious illness, send an ill child to school or day care and use hospital emergency rooms for care, according to a 2010 survey by the University of Chicago's National Opinion Research Center. A 2011 study in the American Journal of Public Health estimated that a lack of sick time helped spread 5 million cases of flu-like illness during the 2009 swine flu outbreak.


To be sure, many employees entitled to sick time go to work ill anyway, out of dedication or at least a desire to project it. But the work-through-it ethic is shifting somewhat amid growing awareness about spreading sickness.


"Right now, where companies' incentives lie is butting right up against this concern over people coming into the workplace, infecting others and bringing productivity of a whole company down," said John A. Challenger, CEO of employer consulting firm Challenger, Gray & Christmas.


Paid sick day requirements are often popular in polls, but only four places have them: San Francisco, Seattle, Washington, D.C., and the state of Connecticut. The specific provisions vary.


Milwaukee voters approved a sick time requirement in 2008, but the state Legislature passed a law blocking it. Philadelphia's mayor vetoed a sick leave measure in 2011; lawmakers have since instituted a sick time requirement for businesses with city contracts. Voters rejected a paid sick day measure in Denver in 2011.


In New York, City Councilwoman Gale Brewer's proposal would require up to five paid sick days a year at businesses with at least five employees. It wouldn't include independent contractors, such as Zavala, who supports the idea nonetheless.


The idea boasts such supporters as feminist Gloria Steinem and "Sex and the City" actress Cynthia Nixon, as well as a majority of City Council members and a coalition of unions, women's groups and public health advocates. But it also faces influential opponents, including business groups, Mayor Michael Bloomberg and City Council Speaker Christine Quinn, who has virtually complete control over what matters come to a vote.


Quinn, who is expected to run for mayor, said she considers paid sick leave a worthy goal but doesn't think it would be wise to implement it in a sluggish economy. Two of her likely opponents, Public Advocate Bill de Blasio and Comptroller John Liu, have reiterated calls for paid sick leave in light of the flu season.


While the debate plays out, Emilio Palaguachi is recovering from the flu and looking for a job. The father of four was abruptly fired without explanation earlier this month from his job at a deli after taking a day off to go to a doctor, he said. His former employer couldn't be reached by telephone.


"I needed work," Palaguachi said after Friday's City Hall rally, but "I needed to see the doctor because I'm sick."


___


Associated Press writer Susan Haigh in Hartford, Conn., contributed to this report.


___


Follow Jennifer Peltz at http://twitter.com/jennpeltz


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Wall Street flat near five-year highs, Travelers rallies


NEW YORK (Reuters) - U.S. stocks were little changed near five-year highs on Tuesday as investors held back from making large bets ahead of earnings from key tech companies.


Both the Dow and S&P 500 closed at their highest levels so far in this earnings season, with the gains largely coming on better-than-expected results. But despite bullish statements from major companies, many investors are worried economic uncertainty in the fourth quarter hurt earnings and revenues.


Weaker-than-expected economic data had little impact on stocks. Existing-home sales unexpectedly fell in December, dropping 1 percent, according to the National Association of Realtors. Analysts were looking for a rise of 1.2 percent.


Recently Apple Inc and Intel Corp gave weak outlooks, calling the tech sector' outlook into question. Three tech companies are due to report after the market's close: Google Inc, International Business Machines and Texas Instruments.


"Markets are quiet today with many investors taking a wait-and-see approach to tonight's tech earnings," said Douglas DePietro, managing director at Evercore Partners in New York. "There's still room for us to rise from here, but right now most of the action is in specific stocks."


Four Dow components reported early on Tuesday, and three rose on the results. Insurer Travelers Cos was the stand-out, climbing 3.4 percent to $78.90 as the S&P 500's biggest percentage gainer after it forecast higher premiums across its business.


DuPont, the largest U.S. chemical company by market capitalization, reported revenue that was ahead of Wall Street expectations, while Verizon Communications Inc also posted revenue that beat forecasts.


Shares of DuPont were up 0.6 percent at $47.24 while Verizon rose 0.3 percent to $42.67.


On the downside, Johnson & Johnson, the diversified health company, fell 0.5 percent to $72.87 after forecasting 2013 earnings below expectations.


The Dow Jones industrial average was down 6.07 points, or 0.04 percent, at 13,643.63. The Standard & Poor's 500 Index was down 1.56 points, or 0.10 percent, at 1,484.42. The Nasdaq Composite Index was down 2.52 points, or 0.08 percent, at 3,132.19.


Monday was a market holiday for Martin Luther King Jr. Day in the United States. President Barack Obama at his inauguration for a second term on Monday called for aggressive action on climate change, economic equality and the federal budget.


Markets have recently been pressured by uncertainty stemming from Washington about the federal debt limit and spending cuts that could hamper U.S. growth.


Republican leaders in the House of Representatives said they aim to pass on Wednesday a nearly four-month extension of the U.S. debt limit, allowing the government to borrow enough to meet its obligations during that period.


Overall, S&P 500 fourth-quarter earnings rose 2.5 percent, according to Thomson Reuters data.


U.S. shares of Research in Motion jumped 8.2 percent to $17.13 a day after its chief executive said the company may consider strategic alliances with other companies after the launch of devices powered by RIM's new BlackBerry 10 operating system.


(Editing by Chizu Nomiyama and Kenneth Barry)



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Algerian Prime Minister Says at Least 37 Foreigners Dead in Siege


Anis Belghoul/Associated Press


Algerian Army vehicles on Sunday near a remote town in southeastern Algeria where hostages were taken in a four-day ordeal.







ALGIERS — In his first official tally of the deadly scope of Algerian hostage crisis, Prime Minister Abdelmalek Sellal said Monday that the known death toll among the foreign captives had risen steeply from 23 to 37, and that five additional foreigners remained unaccounted for.




In a televised news conference, Mr. Sellal also said that 29 militants were killed and that three were captured alive during the four-day ordeal that terrorized a remote Algerian gas field refining site. Two of the attackers were Canadian, he contended.


Algerian officials had been forecasting that the tally of foreign dead would rise from a preliminary estimate of 23, a concern that was reinforced by reports that a significant number of hostages from Japan and the Philippines had been killed at the site. On Monday, the Algerian prime minister said the dead came from eight different nations, without specifying which ones. He also said that one Algerian hostage had been killed as well.


Mr. Sellal was more specific about the attackers, telling the news conference that they had come from Egypt, Canada, Mali, Niger, Mauritania and Tunisia, although it was unclear how he knew for sure. Algerian officials have been saying that few if any of the attackers were believed to have been Algerian.


The prime minister asserted that the attackers had started out in northern Mali — a claim made by the attackers themselves, which had initially been dismissed by the Algerian authorities as far-fetched because the Mali border is hundreds of miles away.


But the prime minister added that the attackers had ultimately crossed into Algeria through its eastern border with Libya, which is much closer to the refining site. If true, it would serve as a powerful a reminder of Libya’s instability since the overthrow of Col. Muammar el-Qaddafi more than a year ago, and of the enormous distances that complicate the monitoring of national boundaries in the vast Sahara.


“We would need two NATOs to monitor our borders,” Mr. Sellal said.


He corroborated assertions made by other Algerian officials and accounts from freed hostages that the militants had intended to destroy the gas complex and had booby-trapped some hostages with explosives.


In all, the prime minister said, 790 workers were on the site, including 134 foreigners of 26 nationalities, when it was first seized by a heavily armed militant band in one of the most brazen assaults in years.


The prime minister’s news conference represented the most detailed Algerian tally of casualties in the days of alternating standoff and confrontation that began early on Wednesday as the raiders swept in from the desert to take over the internationally managed gas plant, hundreds of miles from Algiers.


Earlier Monday, the Philippines Foreign Affairs Department announced casualties among its citizens for the first time, saying 6 Filipino hostages had been killed and four were still missing.


Additionally, citing an unidentified government source, Reuters said Algeria had informed Japan that 9 of its citizens had died — if corroborated, the highest death toll by a nation reported so far — while previous Japanese accounts had spoken of 10 unaccounted for. Officials in Tokyo declined to confirm those figures but news reports quoted Prime Minister Shinzo Abe as saying that 7 Japanese captives died and that three were still unaccounted for.


Japan’s NHK television interviewed an unnamed Algerian worker who escaped the gas plant. He said that not long after sporadic firing started, militants appeared, armed with machine guns, antitank rockets and antiaircraft missiles. He said the attackers were kind to Algerian staff members, who were given food and blankets. Their targets were the foreign workers, who were rounded up.


The first ones he saw killed were two Japanese and a Filipino, gunned down before his eyes. He said the militants made the foreign hostages wear bombs strapped onto their bodies. He fled during the army attack, and did not know if those foreigners had survived.


The standoff between several dozen radical Islamists and Algerian security services came to a bloody conclusion on Saturday when the Algerians assaulted the kidnappers’ last redoubt at the facility, where hundreds of Algerian and scores of expatriate workers were employed.


The victims — from the United States, Britain, France, Japan and other countries — were killed after hours of harrowing captivity. An unknown number of the hostages died in the assault on Saturday; Algerian officials said they also killed most of the remaining hostage takers, who they said were followers of Mokhtar Belmokhtar, a warlord linked to Al Qaeda based in northern Mali. A regional Web site reported that he had issued a video claiming responsibility for the attack.


Adam Nossiter reported from Algiers, and Alan Cowell from London. Reporting was contributed by Steven Erlanger and Scott Sayare from Paris, Alan Cowell and Stanley Reed from London, Floyd Whaley from Manila, Martin Fackler from Tokyo, Eric Schmitt and Michael R. Gordon from Washington, and Michael Schwirtz from New York.



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An Appointment With Kim Dotcom






Paul Spain is the host of the weekly NZ Tech Podcast, one of New Zealand’s leading locally produced podcasts and often appears on TV and video as a commentator on consumer and business technology topics.


AUCKLAND, NEW ZEALAND — It’s been said that Kim Dotcom is a villain. Many, particularly those in the film industry and law enforcement, believe it. To others, he is a hero standing up for the rights of Internet users everywhere.






[More from Mashable: Kim Dotcom’s Mega Begins Early Rollout]


I wanted to find out for myself where he stood.


I arrived at the Dotcom Mansion early Sunday afternoon New Zealand time. It was just a few hours after the launch of Kim Dotcom’s new website Mega.co.nz and one year since his mansion was raided and he was arrested by New Zealand police in conjunction with a U.S. request to extradite him.


[More from Mashable: Kim Dotcom’s Mega Loses Web Domain Before Debut]


A friendly Kim Dotcom greeted each of us in a small media gathering, before sitting at the head of the table flanked by Ira Rothken, his California-based attorney.


I expected a prepared statement. That wasn’t the case. Dotcom shared his excitement about the 250,000 Mega signups in the first two hours and soon led into Q&A session for the remaining 45-minutes. He proved to be extremely adept in the way he responded to questions, working effortlessly to position Mega as an innovator. He indicated a desire to help the film industry succeed in the world of digital downloads and streaming — rather than being just a company out to line its own pockets.


Dotcom’s opinions and arguments for his cause were strong and generally well thought out, though on occasion seemed less robust. For instance he suggested he’d found a great way films could be funded in the future. His concept involves studios signing up digital streaming distributors around the world to fund a movie ahead of its production.


He felt distributors might pay for streaming rights before production, thereby funding the production. Unfortunately, I feel revenues from streaming (now and for the foreseeable future) are typically so low this would only provide a small fraction of the funds needed to produce a movie. And who wants to risk paying up front for a movie that might be a flop?


When asked about whether he would stay in New Zealand if he succeeds in stopping his extradition to the U.S. later this year, he was non-committal. On one hand he said he loved the country but on another he was worried he’d be persecuted by authorities, and in that case he’d leave. He spoke of journalists, music and movie producers on their way to visit him being harassed by customs officials upon arrival in the country –- including strip searches and even a request to view the content of one visitor’s laptop. I’ve not been able to verify these rather extreme occurrences.


Dotcom has positioned Mega as a service that sits between Dropbox and his previous site Megaupload -– with the added benefits of end-to-end encryption. He and Rothken went to great lengths to highlight that Mega would operate entirely within the law.


Dotcom made little effort to suggest Mega would be less prone to being a haven to copyright materials than Megaupload was. It seems there will continue to be a game of cat and mouse afoot as Dotcom and authorities try to outwit each other.


(A full audio recording of the discussion will be available later today at NZ Tech Podcast.)


In a one-on-one setting with Dotcom, I tried to gain more understanding about the open source elements of the Mega service and his commitment to New Zealand. Interestingly he was reticent to provide solid answers to either question and provided what I felt were just pat answers aimed at fobbing me off.


As we left the compound mid-afternoon, we saw Kim on stage rehearsing for the evening performance he would lead, with the support of musicians, his co-accused and investors in the new Mega. That performance included a dramatization of the raid on his home one year before. It was a gathering filled with media from around the country and a few from abroad. In the public context he continued to sell Mega extremely well –- to the point where someone commented to me that the event at times felt like a religious or marketing conference.


Dotcom currently remains on bail until his extradition hearing due in September. Amongst those in attendance, it appeared widely accepted that the bid to extradite him from New Zealand to the U.S. is likely to fail because of mistakes made by law enforcement and New Zealand spy agency GCSB.


After my visit, I’m left with a number of fairly clear impressions about Kim Dotcom and Mega. How you take these will depend on which side of the fence you stand:


  1. Mega’s management team is making every effort to operate in a manner that does not fall afoul of the law (though it could be argued they did the same with Megaupload).

  2. Mega will be used to distribute copyrighted materials such as movies, TV shows and music -– though likely to a lesser extent than Megaupload did.

  3. Kim Dotcom will continue to draw controversy and be outspoken about the rights of Internet users everywhere. He is not backing down.

Love him or hate him, Kim Dotcom is back in business and, if he’s to be believed, no fair court will be able to stop him.


Dotcom raid being re-enacted at the mansion.


Click here to view this gallery.


Photos by Paul Spain


This story originally published on Mashable here.


Linux/Open Source News Headlines – Yahoo! News





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James Franco Is 'Hit of the Party' at Sundance















01/21/2013 at 11:15 AM EST







James Franco and Mario Lopez and Courtney Mazza


Neilson Barnard/Getty; Jeffrey Mayer/WireImage


The stars arrived by the dozens to Park City, Utah, for the 2013 Sundance Film Festival and PEOPLE has the details of their busy weekend.

James Franco was one of the last to arrive to the Stella Artois-hosted dinner for his documentary Kink on Saturday evening. Later, the Lovelace star hosted a large 1 a.m. "after, after party" at The Everest Mansion high up in the nearby mountains. The actor still managed to be up in time to surprise the guests at the Outfest Queer Brunch at Grub Steak Restaurant in Prospector Square Sunday morning with his Interior. Leather Bar. co-director Travis Mathews.

"James was the hit of the party," one brunch attendee tells PEOPLE. "Everyone wanted their picture with him."

Daniel Radcliffe may have been seen snuggling with Kill Your Darlings costar Erin Darke Friday night, but he went solo to the Next Generation Filmmaker dinner Saturday, where costar Michael C. Hall and his novelist girlfriend, Morgan Macgregor, were the last to leave while the most of the diners danced the night away at The Westway.

Glee star Jane Lynch turned the Festival into a family affair by taking her wife Lara Embry and daughters Haden and Chase to the New Era Chalet at the Lift in Park City.

Lynch was overheard stating she had "a peanut head" as she and her family picked out New Era Chicago caps – which lead to a lighthearted debate about the White Sox and the Chicago Cubs. While Lynch lobbied hard for the Cubs, her daughters were more interested in checking out the Nintendo Lounge nearby.

Newlyweds Mario Lopez and Courtney Mazza enjoyed a mini-honeymoon in Park City, or possibly a baby-moon?

The couple stopped by the TR Suites and enjoyed Lipton teas while perusing the Sears Lounge, where Mazza was overheard saying she and Lopez are "trying and hoping" for a second child. The couple later hit the Miami Lounge where, once again, they drank Hint Water rather than cocktails.

– Patrick Gomez


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Flu season fuels debate over paid sick time laws


NEW YORK (AP) — Sniffling, groggy and afraid she had caught the flu, Diana Zavala dragged herself in to work anyway for a day she felt she couldn't afford to miss.


A school speech therapist who works as an independent contractor, she doesn't have paid sick days. So the mother of two reported to work and hoped for the best — and was aching, shivering and coughing by the end of the day. She stayed home the next day, then loaded up on medicine and returned to work.


"It's a balancing act" between physical health and financial well-being, she said.


An unusually early and vigorous flu season is drawing attention to a cause that has scored victories but also hit roadblocks in recent years: mandatory paid sick leave for a third of civilian workers — more than 40 million people — who don't have it.


Supporters and opponents are particularly watching New York City, where lawmakers are weighing a sick leave proposal amid a competitive mayoral race.


Pointing to a flu outbreak that the governor has called a public health emergency, dozens of doctors, nurses, lawmakers and activists — some in surgical masks — rallied Friday on the City Hall steps to call for passage of the measure, which has awaited a City Council vote for nearly three years. Two likely mayoral contenders have also pressed the point.


The flu spike is making people more aware of the argument for sick pay, said Ellen Bravo, executive director of Family Values at Work, which promotes paid sick time initiatives around the country. "There's people who say, 'OK, I get it — you don't want your server coughing on your food,'" she said.


Advocates have cast paid sick time as both a workforce issue akin to parental leave and "living wage" laws, and a public health priority.


But to some business owners, paid sick leave is an impractical and unfair burden for small operations. Critics also say the timing is bad, given the choppy economy and the hardships inflicted by Superstorm Sandy.


Michael Sinensky, an owner of seven bars and restaurants around the city, was against the sick time proposal before Sandy. And after the storm shut down four of his restaurants for days or weeks, costing hundreds of thousands of dollars that his insurers have yet to pay, "we're in survival mode."


"We're at the point, right now, where we cannot afford additional social initiatives," said Sinensky, whose roughly 500 employees switch shifts if they can't work, an arrangement that some restaurateurs say benefits workers because paid sick time wouldn't include tips.


Employees without sick days are more likely to go to work with a contagious illness, send an ill child to school or day care and use hospital emergency rooms for care, according to a 2010 survey by the University of Chicago's National Opinion Research Center. A 2011 study in the American Journal of Public Health estimated that a lack of sick time helped spread 5 million cases of flu-like illness during the 2009 swine flu outbreak.


To be sure, many employees entitled to sick time go to work ill anyway, out of dedication or at least a desire to project it. But the work-through-it ethic is shifting somewhat amid growing awareness about spreading sickness.


"Right now, where companies' incentives lie is butting right up against this concern over people coming into the workplace, infecting others and bringing productivity of a whole company down," said John A. Challenger, CEO of employer consulting firm Challenger, Gray & Christmas.


Paid sick day requirements are often popular in polls, but only four places have them: San Francisco, Seattle, Washington, D.C., and the state of Connecticut. The specific provisions vary.


Milwaukee voters approved a sick time requirement in 2008, but the state Legislature passed a law blocking it. Philadelphia's mayor vetoed a sick leave measure in 2011; lawmakers have since instituted a sick time requirement for businesses with city contracts. Voters rejected a paid sick day measure in Denver in 2011.


In New York, City Councilwoman Gale Brewer's proposal would require up to five paid sick days a year at businesses with at least five employees. It wouldn't include independent contractors, such as Zavala, who supports the idea nonetheless.


The idea boasts such supporters as feminist Gloria Steinem and "Sex and the City" actress Cynthia Nixon, as well as a majority of City Council members and a coalition of unions, women's groups and public health advocates. But it also faces influential opponents, including business groups, Mayor Michael Bloomberg and City Council Speaker Christine Quinn, who has virtually complete control over what matters come to a vote.


Quinn, who is expected to run for mayor, said she considers paid sick leave a worthy goal but doesn't think it would be wise to implement it in a sluggish economy. Two of her likely opponents, Public Advocate Bill de Blasio and Comptroller John Liu, have reiterated calls for paid sick leave in light of the flu season.


While the debate plays out, Emilio Palaguachi is recovering from the flu and looking for a job. The father of four was abruptly fired without explanation earlier this month from his job at a deli after taking a day off to go to a doctor, he said. His former employer couldn't be reached by telephone.


"I needed work," Palaguachi said after Friday's City Hall rally, but "I needed to see the doctor because I'm sick."


___


Associated Press writer Susan Haigh in Hartford, Conn., contributed to this report.


___


Follow Jennifer Peltz at http://twitter.com/jennpeltz


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IHT Rendezvous: China's 'Lamborghini' Coefficient: Who's Getting Richer and Who Poorer?

BEIJING — Search the word Gini, or “jini,” for Gini coefficient, the well-known measure of income inequality, on China’s biggest microblogging site and the first result today was for Lamborghini, the Italian luxury sports car (in Chinese, the two words share a similar sound in the last part of the car’s name.)

That is very ironic because the Gini coefficient measures income inequality and the Lamborghini, which can set a buyer back $300,000, is not an uncommon sight on the streets of big Chinese cities, an object of resentment among ordinary people who view it as a symbol of how a few people are amassing tremendous wealth as many struggle with low incomes, low bank deposit rates, high property prices and persistent inflation.

In other words, income inequality in China is politically sensitive.

(The Gini index is a measure of household income inequality; zero represents perfect income equality and one, perfect inequality, a situation where one person would own all the wealth, as the World Bank explains.)

So last Friday, when the government announced China’s Gini coefficient figures for the first time in over a decade, there was excitement – and quite a bit of scorn – expressed online and in media reports as well as private conversations. Why?

According to the figures, China today is actually more equal than in 2003, the National Bureau of Statistics said.

From 2003, the Gini coefficient did indeed rise, the bureau said, from 0.479 to a high in 2008 of 0.491. But by 2012 the figure had dropped to 0.474, meaning China is a more equal society today than a decade ago – despite all those Lamborghinis on the street.

At a news conference, Ma Jiantang, the bureau director, called the rate nevertheless “relatively high,” Xinhua reported. “China must accelerate its income distribution reform to narrow the rich-poor gap,” Xinhua said.

Yet the government’s “effective measures” to “bring benefits for its people” after the gobal financial crisis began in 2008 had brought down the measure, it quoted Mr. Ma as saying.

To compare with the United States: In 2011, the Gini coefficient there was also high, at 0.477, according to the U.S. Census Bureau.

Xinhua quoted the United Nations as putting the “warning level” on the rich-poor gap at 0.4.

Yet in China this weekend, few believed the new figures.

Here are two lively reactions from microblogs, from a journalist and an economist who together have over six million followers:

“Please choose one: 1. Really, thank you Fatherland; 2. That’s a myth; 3. Not sure, but hurry up and increase my salary,” Shi Shusi, a journalist and social commentator, the director of the state-run Worker’s Daily Weekly, said on his Sina Weibo account to nearly 875,000 followers.

Xu Xiaonian, a professor of finance and economics at the China Europe International Business School, wrote on his Weibo account (5.5 million followers): “A journalist rang to ask me to comment on today’s macroeconomic figures. I’d have to be crazy to truthfully comment on false figures. That Gini coefficient, to use the words of Zheng Yuanjie,” a popular children’s story writer, “‘no-one would even dare to write a fairytale like that.’”

A different report, in December, by researchers at the Southwestern University of Finance and Economics in the city of Chengdu, put China’s Gini at 0.61 for 2010.

While people are by and large glad to see the government once again measuring the figure after a decade-long hiatus (which Mr. Ma explained last year was due to the fact that the government did not actually know what people in the cities were earning, as I explored in a Letter from China,) a major problem facing the government is the scale of people’s “hidden income,” estimated by the Beijing-based economist Wang Xiaolu several years ago to be about 9.3 trillion renminbi (nearly $1.5 trillion).

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Google says Wall Street estimates need adjusting






SAN FRANCISCO (Reuters) – Google Inc issued a rare advisory to Wall Street on Friday that analyst estimates for its fourth quarter financial results are flawed.


The world’s No.1 search engine, which reports its quarterly results on Tuesday, said most analysts have not adjusted their estimates to reflect the pending $ 2.35 billion sale of the Motorola Home business.






The business must be presented separately from the results of Google’s continuing operations under U.S. accounting rules, Google Treasurer Brent Callinicos wrote in a post on Google’s investor relations Web page on Friday.


“As of this writing, a majority of Wall Street analysts who cover Google have not reflected the Home business as discontinued operations in their estimates,” Callinicos wrote.


The discrepancy means the fourth-quarter net revenue that Google reports on Tuesday could appear to be less than the $ 12.34 billion average that analysts polled by Thomson Reuters I/B/E/S are expecting.


Raymond James analyst Aaron Kessler says his fourth-quarter net revenue estimate includes nearly $ 900 million from the Motorola Home business.


“They’re saying that the headline number is going to be less than what most analysts have for Q4,” said Kessler.


The advisory is a rare move for Google, which does not provide financial forecasts and typically has limited interactions with analysts. The company has in the past provided accounting advisories to analysts about the Motorola Mobility business, which Google acquired for $ 12.5 billion in May.


Google bought Motorola Mobility primarily for its large portfolio of communications patents and its mobile phone business.


In December, Google agreed to sell the Motorola Home television set-top box business to Arris Group Inc for $ 2.35 billion in cash and stock.


Analysts expect Google to report adjusted earnings of $ 10.56 per share for the fourth quarter.


“It’s a little surprising that they’re doing this the Friday before the report,” said Kessler. “They should have put it out a week ago if they wanted analysts to change their numbers.”


(Reporting By Alexei Oreskovic. Editing by Andre Grenon)


Wireless News Headlines – Yahoo! News





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Allison Williams of Girls: I'm Nothing Like Marnie, But I Root for Her















01/20/2013 at 11:15 AM EST



Allison Williams wouldn't masturbate in a public restroom. But that's not the only difference between her and Marnie Michaels, the character she plays on HBO's hit comedy Girls.

"There were moments reading the script that I thought, 'WOW, okay!' " the actress, 24, tells Company magazine's February issue and digital edition. "It's the most private thing anyone can do, but being an actress can make you feel vulnerable."

She adds: "My grandparents watch the show. I don't know why I was so concerned, though. They have been alive for virtually 90 years, so who am I to presume that sex never existed before me?"

Girls was a huge hit at Sunday's Golden Globe Awards, winning best comedy and best actress in a comedy for Lena Dunham. Williams plays Dunham's sidekick and best friend, a character who seems responsible at first, though her insecurities soon become clear.

"We're really different," Williams says of she and Marnie. "I've known I wanted to be an actress since I was 4, but Marnie still has no idea what she wants. But I'm so in her corner, even when she's wrong."

She adds: "In season two, Marnie goes through some real downs. I was shocked at how emotionally drained I felt from that."

Asked what makes Girls so special, Williams tells the magazine (which offers behind-the-scenes footage of her cover shoot") that the show captures the zeitgest for many young people these days.

"There is nothing alienating or too hipster about it," she says. "We're not dating handsome boys. They're weird. We don't have jobs you dream about. In fact, not all of us have jobs. It feels accessible. And the relationship between the girls is brilliant. It's like a digital time capsule – people will watch it in 20 years time, and it will sum up a certain generation."

Williams says she's dealing with her newfound fame mostly by not Googling herself, and shrugs off criticism that she got a head start in the business because she's the daughter of NBC newsman Brian Williams.

"At the end of the day, even if all these wonderful doors are open for you, you have to stride through them," she says.

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Wall Street Week Ahead: Earnings, money flows to push stocks higher

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.


The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.


Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.


Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.


"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.


Major technology companies also report next week, but the bar for the sector has been lowered even further.


Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.


Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.


Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.


CASH POURING IN, HOUSING DATA COULD HELP


Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.


The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.


"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.


"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."


Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.


Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.


The new home sales report on Friday is expected to show a 2.1 percent increase.


The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.


Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.


The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.


"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.


"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."


(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)



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