Saturday, February 2, 2013

Wall St Week Ahead: 'Great Rotation'- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.

That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.

Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.

Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.

Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.

"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."

The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.

Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.

Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .

But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.

Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.

During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.

MOM AND POP STILL WARY

Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.

This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.

Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.

"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.

Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.

He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.

Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.

On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.

Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.

Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.

Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.

(Additonal reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

Source: http://news.yahoo.com/wall-st-week-ahead-great-rotation-wall-street-220438561--finance.html

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Beyonce Admits HBO Documentary Makes Her 'Scared'

At a press conference for her Super Bowl performance, Queen B says she's showing her 'human side' in the February 16 special.
By Jocelyn Vena


Beyoncé at a press conference for her Super Bowl performance
Photo: FilmMagic

Source: http://www.mtv.com/news/articles/1701203/beyonce-hbo-documentary.jhtml

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Ed Koch, mayor who became a symbol of NYC, dies

FILE - In this April 18, 2007, file photo, former New York Mayor Ed Koch listens during the 9th annual National Action Network convention in New York. Koch, the combative politician who rescued the city from near-financial ruin during three City Hall terms, has died at age 88. Spokesman George Arzt says Koch died Friday morning Feb. 1, 2013 of congestive heart failure. (AP Photo/Frank Franklin II, File)

FILE - In this April 18, 2007, file photo, former New York Mayor Ed Koch listens during the 9th annual National Action Network convention in New York. Koch, the combative politician who rescued the city from near-financial ruin during three City Hall terms, has died at age 88. Spokesman George Arzt says Koch died Friday morning Feb. 1, 2013 of congestive heart failure. (AP Photo/Frank Franklin II, File)

FILE - In this July 16, 1984, file photo, New York Mayor Ed Koch raises his hands with two thumbs up while addressing the opening session of the Democratic National Convention in San Francisco. Ed Koch, right, as they leave New York's Grand Central after holding a news conference for the "Committee to Save Grand Central Station." Koch, the combative politician who rescued the city from near-financial ruin during three City Hall terms, has died at age 88. Spokesman George Arzt says Koch died Friday morning Feb. 1, 2013 of congestive heart failure. (AP Photo/Ira Schwarz, File)

FILE - In this March 1, 1973, file photo, a man interviews New York mayoral candidate, Rep. Edward Koch, in New York. Koch, the combative politician who rescued the city from near-financial ruin during three City Hall terms, has died at age 88. Spokesman George Arzt says Koch died Friday morning Feb. 1, 2013 of congestive heart failure. (AP Photo/Anthony Camerano, File)

FILE - In this Aug. 30, 2004, file photo, former New York Mayor Ed Koch speaks at the first day of the Republican National Convention in New York. Koch, the combative politician who rescued the city from near-financial ruin during three City Hall terms, has died at age 88. Spokesman George Arzt says Koch died Friday morning Feb. 1, 2013 of congestive heart failure. (AP Photo/Joe Cavaretta, File)

FILE - In this Jan. 30, 1975, file photo, Jacqueline Kennedy Onassis, center left, and Bess Myerson, center right, walk with architect Philip Johnson, left, and Rep. Ed Koch, right, as they leave New York's Grand Central after holding a news conference for the "Committee to Save Grand Central Station." Koch, the combative politician who rescued the city from near-financial ruin during three City Hall terms, has died at age 88. Spokesman George Arzt says Koch died Friday morning Feb. 1, 2013 of congestive heart failure. (AP Photo/Harry Harris, File)

(AP) ? Ed Koch's favorite moment as mayor of New York City, fittingly, involved yelling.

Suddenly inspired to do something brash about the rare transit strike that crippled the city in 1980, he strode down to the Brooklyn Bridge to encourage commuters who were forced to walk to work instead of jumping aboard subway trains and buses.

"I began to yell, 'Walk over the bridge! Walk over the bridge! We're not going to let these bastards bring us to our knees!' And people began to applaud," the famously combative, acid-tongued politician recalled at a 2012 forum.

His success in rallying New Yorkers in the face of the strike was, he said, his biggest personal achievement as mayor. And it was a display that was quintessentially Koch, who rescued the city from near-financial ruin during a three-term City Hall run in which he embodied New York chutzpah for the rest of the world.

Koch died at 2 a.m. Friday from congestive heart failure, spokesman George Arzt said. The funeral will be Monday at Temple Emanu-El in Manhattan.

Koch was admitted to NewYork-Presbyterian/Columbia hospital on Monday with shortness of breath, and was moved to intensive care on Thursday for closer monitoring of the fluid in his lungs and legs. He had been released two days earlier after being treated for water in his lungs and legs. He had initially been admitted on Jan. 19.

After leaving City Hall in January 1990, Koch battled assorted health problems and heart disease.

The larger-than-life Koch, who breezed through the streets of New York flashing his signature thumbs-up sign, won a national reputation with his feisty style. "How'm I doing?" was his trademark question to constituents, although the answer mattered little to Koch. The mayor always thought he was doing wonderfully.

Former Mayor David Dinkins, who succeeded Koch, called the former mayor "a feisty guy who would tell you what he thinks."

"Ed was a guy to whom I could turn if I wanted a straight answer," he told on Fox 5 News Friday.

Bald and bombastic, paunchy and pretentious, the city's 105th mayor was quick with a friendly quip and equally fast with a cutting remark for his political enemies.

"You punch me, I punch back," Koch once memorably observed. "I do not believe it's good for one's self-respect to be a punching bag."

Rev. Al Sharpton, head of the National Action Network, said in a statement Friday that although they disagreed on many things, Koch "was never a phony or a hypocrite. He would not patronize or deceive you. He said what he meant. He meant what he said. He fought for what he believed. May he rest in peace."

The mayor dismissed his critics as "wackos," waged verbal war with developer Donald Trump ("piggy") and mayoral successor Rudolph Giuliani ("nasty man"), lambasted the Rev. Jesse Jackson, and once reduced the head of the City Council to tears.

"I'm not the type to get ulcers," he wrote in "Mayor," his autobiography. "I give them."

When President George W. Bush ran for re-election in 2004, Democrat Koch crossed party lines to support him and spoke at the GOP convention. He also endorsed Mayor Michael Bloomberg's re-election efforts at a time when Bloomberg was a Republican. Koch described himself as "a liberal with sanity."

In a statement Bloomberg said the city "lost an irrepressible icon" and called Koch its "most charismatic cheerleader."

"Through his tough, determined leadership and responsible fiscal stewardship, Ed helped lift the city out of its darkest days and set it on course for an incredible comeback," Bloomberg said.

Koch was also an outspoken supporter of Israel, willing to criticize anyone, including President Barack Obama, over decisions Koch thought could indicate any wavering of support for that nation.

In a WLIW television program "The Jews of New York," Koch spoke of his attachment to his faith.

"Jews have always thought that having someone elevated with his head above the grass was not good for the Jews. I never felt that way," he said. "I believe that you have to stand up."

Under his watch from 1978-89, the city climbed out of its financial crisis thanks to Koch's tough fiscal policies and razor-sharp budget cuts, and subway service improved enormously. But homelessness and AIDS soared through the 1980s, and critics charged that City Hall's responses were too little, too late.

Koch said in a 2009 interview with The New York Times that he had few regrets about his time in office but still felt guilt over a decision he made as mayor to close Sydenham Hospital in Harlem. The move saved $9 million, but Koch said in 2009 that it was wrong "because black doctors couldn't get into other hospitals" at the time.

"That was uncaring of me," he said. "They helped elect me, and then in my zeal to do the right thing I did something now that I regret."

His mark on the city has been set in steel: The Queensboro Bridge ? connecting Manhattan to Queens and celebrated in the Simon and Garfunkel tune "The 59th Street Bridge Song (Feelin' Groovy)" ? was renamed in Koch's honor in 2011.

Koch was a champion of gay rights, taking on the Roman Catholic Church and scores of political leaders.

A lifelong bachelor, Koch offered a typically blunt response to questions about his own sexuality: "My answer to questions on this subject is simply, 'F--- off.' There have to be some private matters left."

Rep. Peter King, R-N.Y., called Koch "a true friend and trusted advisor."

"Ed Koch personified the spirit of New York. New York's Mayor For Life is now New York's Mayor for eternity," King said in a statement.

Koch was fast-talking, opinionated and sometimes rude, becoming the face and sound of New York to those living outside the city. Koch became a celebrity, appearing on talk shows and playing himself in movies including "The Muppets Take Manhattan" and "The First Wives Club" and hosting "Saturday Night Live."

In 1989's "Batman," the character of Gotham City's mayor, played by Lee Wallace, bore a definite resemblance to Koch.

When Koch took over from accountant Abe Beame in 1978, one thing quickly became apparent ? with this mayor, nothing was certain. Reporters covered him around the clock because of "the Koch factor," his ability to say something outrageous any place, any time.

After leaving office, he continued to offer his opinions as a political pundit, movie reviewer, food critic and judge on "The People's Court."

Koch remained a political force in Albany well into old age. He secured a promise in 2010 from then-aspiring Gov. Andrew Cuomo and a number of state legislators to protect the electoral redistricting process from partisanship ? and then vocally protested when Cuomo and others reneged on that pledge two years later.

Even in his 80s, Koch still exercised regularly and worked as a lawyer for the firm Bryan Cave.

At his 80th birthday bash, Bloomberg said Koch was "not only a great mayor and a great source of advice and support to other mayors, he happens to be one of the greatest leaders and politicians in the history of our city."

He had been in the hospital twice in 2012, for anemia in September and then for a respiratory infection in December. He returned twice in January 2013 with fluid buildup in his lungs.

He had undergone surgery in June 2009 to replace his aortic valve and gallbladder surgery a month later. He had a pacemaker inserted in 1991 and was hospitalized eight years later with a heart attack. In early 2001, he was hospitalized with pneumonia.

Koch was born in the Bronx on Dec. 12, 1924, the second of three children of Polish immigrants Louis and Joyce Koch. During the Depression the family lived in Newark, N.J.

The future mayor worked his way through school, checking hats, working behind a delicatessen counter and selling shoes. He attended City College and served as a combat infantryman in Europe during World War II, earning his sergeant stripes.

He received a law degree from New York University in 1948 and began practicing law in Manhattan's Greenwich Village neighborhood, where his political career began as a member of the Village Independent Democrats, a group of liberal reformers. He defeated powerful Democratic leader Carmine DeSapio, whose roots reached back to the corrupt Tammany Hall political machine, in a race for district leader.

Koch was elected to the City Council and then to Congress, serving from 1969-77 as representative for the "Silk Stocking" district that was then known for its millionaire Park Avenue constituency.

The liberal Koch was the first Democrat to represent the district in 31 years. But his politics edged to the center of the political spectrum during his years in Congress and pulled to the right on a number of issues after becoming mayor.

His answer to the war on drugs? Send convicted drug dealers to concentration camps in the desert. Decaying buildings? Paint phony windows, complete with cheery flowerpots, on brick facades. Overcrowded city jails? Stick inmates on floating prison barges.

Koch defeated incumbent Beame and future Gov. Mario Cuomo in the Democratic primary to win his first term in City Hall. Like his hero Fiorello LaGuardia, the fiery fusion party mayor who ran the city from 1933 to 1945, he ran on the Republican and Conservative party lines in the 1981 mayoral election.

He breezed to re-election in both 1981 and 1985, winning an unprecedented three-quarters of the votes cast. At the time, he was only the third mayor in city history to be elected to three terms.

While mayor, he wrote three books including the best-seller "Mayor," ''Politics" and "His Eminence and Hizzoner," written with Cardinal John O'Connor. He wrote seven other nonfiction books, four mystery novels and three children's books after leaving office.

Early in his second term, Koch flip-flopped on his pledge to remain at City Hall and decided to run for governor against then-Lt. Gov. Mario Cuomo. But his 1982 gubernatorial bid blew up after Koch mouthed off about life outside his hometown.

"Have you ever lived in the suburbs?" Koch told an interviewer who asked about a possible move to Albany. "It's sterile. It's nothing. It's wasting your life."

It cost him the race, but it convinced many of the 8 million city residents that Koch belonged in New York. Meanwhile, Cuomo went on to serve three terms as governor.

Koch's third term was beset by corruption scandals. Queens Borough President Donald Manes ? a close ally ? committed suicide in March 1986, after having resigned over kickback and patronage allegations. Bronx Democratic leader Stanley Friedman and three others were also tarred. Koch's commissioner of cultural affairs, former Miss America Bess Myerson, stepped down in the wake of a scandal involving her boyfriend and a judge overseeing a legal case concerning him.

As the pressure grew, Koch suffered a minor stroke in 1987.

The administration was also beset by racial unrest, first after the 1986 death of a black youth at the hands of a white gang in Howard Beach and three years later after a black teen was shot to death in Brooklyn's tough Bensonhurst neighborhood by a group of whites.

Six weeks after the second slaying, Koch lost the Democratic primary to the city's eventual first black mayor, David Dinkins. Koch later said the simmering racial tensions didn't lead to his defeat.

"I was defeated because of longevity," Koch said. "People get tired of you. So they decided to throw me out."

The man who bragged that he would always get a better job, but New Yorkers would never get a better mayor, left his City Hall office for the last time on Dec. 31, 1989.

Looking back, Koch said in a 1997 interview: "All I could think of was, "Free at last, free at last, great God almighty, I'm free at last."

He was finished with public office, but he would never be through with the city. At age 83, Koch paid $20,000 for a burial plot at Trinity Church Cemetery, at the time the only graveyard in Manhattan that still had space.

"I don't want to leave Manhattan, even when I'm gone," Koch told The Associated Press. "This is my home. The thought of having to go to New Jersey was so distressing to me."

Not long after buying the plot, he had his tombstone inscribed and installed. The marker features the last words of slain Wall Street Journal reporter Daniel Pearl: "My father is Jewish, my mother is Jewish, I am Jewish."

It also includes a Jewish prayer and the epitaph he wrote after his stroke:

"He was fiercely proud of his Jewish faith. He fiercely defended the City of New York, and he fiercely loved its people. Above all, he loved his country, the United States of America, in whose armed forces he served in World War II."

___

Associated Press writer Samantha Gross contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2013-02-01-Obit-Koch/id-41fa3e5a5039438f8ae08cc6f0fac88a

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Vegetarian Diet May Cut Heart Disease Risk

By Peter Russell
WebMD Health News

Reviewed by Rob Hicks, MD

Jan. 31, 2013 -- The risk of hospitalization or death from heart disease is almost a third lower in vegetarians than in people who eat meat and fish, according to a new study.

Researchers from the University of Oxford in England say the health benefits of not eating meat likely stem from having lower blood pressure and cholesterol levels.

But heart experts caution that following a vegetarian diet is unlikely to be enough to prevent heart disease.

Major Killer

Heart disease is the largest cause of death in developed countries.

The study looked at 44,561 men and women living in England and Scotland who were enrolled during the 1990s in a separate Oxford study looking at links between cancer and nutrition.

Researchers used this database because of the unusually high number of vegetarians enlisted: 34% of the people.

All the people were asked about their health and lifestyles when they joined. This included questions about diet and exercise, as well as other factors affecting health such as smoking and drinking alcohol. Almost 20,000 participants also had their blood pressures recorded and gave blood samples for cholesterol testing.

The volunteers were tracked until 2009. During that time, researchers recorded 1,066 people with heart disease and 169 deaths from heart disease.

The researchers found that vegetarians had a 32% lower risk of developing heart disease than those who ate fish and meat. They did not differentiate between red and white meat, nor did they track how much meat was eaten.

Blood Pressure and Cholesterol

"We didn't look at the specific components of the vegetarian diet that might contribute to the lower risk of heart disease in this study, but because the vegetarians have lower blood cholesterol, it is probably because they have a lower intake of saturated fat and a higher intake of polyunsaturated fat,? says Francesca Crowe, who led the study.

Crowe says the vegetarians also ate more fruits, vegetables, and fiber, which might have contributed to their lower risk of heart disease.

The researchers say lower blood pressure among the vegetarians is likely to be an important factor.

Additionally, vegetarians typically had a lower body mass index (BMI) and fewer cases of diabetes (although these were not found to significantly affect the results). If the results are adjusted to exclude the effects of BMI, vegetarians are 28% less likely to develop heart disease, the researchers say.

The study appears in the American Journal of Clinical Nutrition.

Source: http://www.webmd.com/heart-disease/news/20130131/vegetarian-heart-disease?src=RSS_PUBLIC

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Friday, February 1, 2013

Life found deep below Antarctic ice

U.S. team drills through half-mile-thick sheet of ice to turn up cells

U.S. team drills through half-mile-thick sheet of ice to turn up cells

By Janet Raloff

Web edition: February 1, 2013

Enlarge

SNOW DAY

A U.S. research team has drilled 800 meters into the ice sheet that covers Lake Whillans in Antarctica (the team?s camp pictured here in 2011) and retrieved the first signs of life from a subglacial lake.

Credit: WISSARD/NSF

Cells containing DNA have emerged as the first evidence of life in a subglacial lake in West Antarctica. On January 28, a U.S. research team retrieved water from Lake Whillans, which sits 800 meters below the ice surface. The water hosted a surprising bounty of living cells.

The scientists collected three 10-liter water samples from the lake. Preliminary tests conducted in mobile labs show that the cells are actively using oxygen. It may take months for biologists to identify the microbes present.

The microbes have been sealed off below the ice for at least 100,000 years.

A challenge was ruling out contamination as a source of the cells, says microbiologist Brent Christner of Louisiana State University in Baton Rouge, reached by satellite phone at a tent encampment at the drill site. Even glacial ice harbors low concentrations of microbes, ?or their corpses,? so the researchers were concerned that cells in the lake samples could actually have come from the ice, Christner says. ?

Enlarge

WHAT LIES BENEATH

Under hundreds of meters of ice lies Antarctica?s network of lakes and rivers. Three research teams have attempted to sample the subglacial lakes Ellsworth, Whillans and Vostok.

Credit: WISSARD/NSF

He argues that the cells come from the lake. First, cell concentrations in water retrieved from the lake were on the order of 10,000 per milliliter, which is about 100 times higher than the cell count in meltwater from the drill hole. Second, that meltwater is roughly comparable chemically to distilled water. In contrast, mineral levels in the water from which Christner?s team isolated its cells are 100 times higher ? equivalent to what?s present in the lake?s water.?

?This is a big deal ? and exciting,? says glaciologist Martin Siegert of the University of Bristol in England. The U.S. team?s drilling endeavor marks ?the first clean access to a subglacial lake system.? Acquiring clean samples is imperative, he adds, to inspire confidence that any microbial finds truly come from the buried lakes.

Lake Whillans sits in a shallow cavity at the downstream end of a slow-moving sheet of ice. The deep liquid streams that feed this and more than 340 other subglacial lakes across Antarctica also lubricate the ice above. Geothermal energy, along with friction and a heavy blanket of ice, keeps the water liquid in this frigid land.

Excitement at the prospect of exploring the lakes erupted in 1996, recalls Siegert. That?s when an international research team he was part of realized the massive extent of Lake Vostok (SN: 6/29/96, p. 407), a subglacial lake discovered decades earlier. At once, Siegert says, microbiologists began proposing that this buried lake ? and possibly others ? might host ecosystems that had been cut off from the surface for a very long time.

Precisely how long remains unknown, says Slawek Tulacyk, a glaciologist from the University of California, Santa Cruz, and a team leader on the Antarctic drill program. At Lake Whillans, ?a good guess for a minimum is about 100,000 years.? That?s the last time the ice sheet may have shrunk back enough to expose the roughly 10-square-mile lake, he explains.

The new drilling project uncovered a second surprise: The lake is surprisingly shallow. Two years ago, a team conducted seismic experiments by detonating explosives; researchers used the resulting sound waves to map what lies beneath the ice. These seismic data indicated Lake Whillans was about 30 feet deep, Tulacyk says. But instruments his team sent down the borehole now peg the lake?s depth ?at only about 5 to 6 feet.?

The most likely explanation, Tulacyk says, rests on a third surprise that emerged from the drilled borehole: The lake sediment contains a substantial amount of water. That unexpected mixing, he says, confused the earlier seismic readings.

Last year, a Russian team pierced Lake Vostok but has to date found no evidence of life. Last month, technical difficulties convinced Siegert and his colleagues on a British team to suspend their efforts for the year to reach the subglacial Lake Ellsworth (SN: 1/26/13, p. 9).

By January 31, the new 30-centimeter borehole was beginning to freeze shut. So Tulacyk?s group began lowering instruments down the hole one last time. This package will freeze in place until the researchers can return.

D. Fox. Where rivers run uphill. Science News for Kids. July 25, 2008. [Go to]

R. Monastersky. Giant lake hides beneath Antarctica's ice. Science News. Vol. 149. June 29, 1996, p. 407.

J. Raloff. U.S. team breaks through subglacial lake. Science News Online, January 28, 2013. [Go to]

J. Raloff. Antarctic test of novel ice drill poised to begin. Science News Online, December 15, 2012. [Go to]

A. Witze. Antarctic subglacial drilling effort suspended. Science News, January 26, 2013, p. 9. Available online: [Go to]

Source: http://www.sciencenews.org/view/generic/id/348007/title/Life_found_deep_below_Antarctic_ice

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Qualcomm ?Likes? Facebook, Apple, Google And Samsung

qualcomm logoIt's Superbowl week so it?s time to talk about chips ? the ones that go in "smart" things, not the ones eaten by Americans. This week?s headlines have been dominated by Facebook. I hear they are quite big with the college kids. But, Qualcomm really is crushing it. They deserve a little attention. They are bigger than Facebook at $108 billion. Today, Qualcomm added approximately $5 billion to their market capitalization, thanks to a blowout quarter of sales ($6 billion) and profits ($2 billion).

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ojzo2m2LbFE/

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What We Thought the Year 2001 Would Look Like Back in 1967

The godfather of news, Walter Cronkite, had a regular show on CBS called "The 21st Century" that showed off technology of the future. One episode that aired on March 12, 1967 showed off what a home would look like in 2001: 3D TV, videophones, some gigantic machine that sounds a lot like Twitter, robot servants and more. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/ct3lPQ2IKRM/what-we-thought-the-year-2001-would-look-like-back-in-1967

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