Tuesday, January 31, 2012

Lincoln Mitchell: The Republicans 19th Nervous Breakdown

There is a not very fine line between issues that should concern a president and issues on which a Fox News commentator should spend his or her time. This was made very evident last week. On Tuesday night President Obama gave his State of the Union address. State of the Union addresses are a rarely compelling form of political theater, but they are significant because they allow the president to present his agenda and goals to the American people. On Thursday night, by contrast, the remaining four Republican presidential candidates engaged in what seemed like their 400th debate. Actually it was only their 19th.

The Republican debate included several strangely long digressions about space travel and moon colonies, widespread agreement that Ron Paul is in fine health for a man his age and a contest to see who could take the strongest anti-Castro position. Paul, of course, did not participate in this contest instead replying, not un-wisely, that if Raul Castro called him, he (Paul) would ask why Castro was calling. The contrast between the Republican candidates and President Obama could not have been more stark, or more favorable to the president. Obama talked about jobs and the economy, while the Republicans rabbited on about moon colonies. It is no surprise that the president's poll numbers improved last week as well.

The Republican debates have been fun to watch and have given a great deal of exposure to the Republican candidates. However, on balance they have highlighted the weakness of the field and, like the debate last week in Jacksonville, forced the candidates to spend time talking about minor, even quirky, issues or on personal, and silly, questions such as whose wife would be the best first lady, or the role their religious faith would play in their presidencies.

The major issue in this election is, of course, the economy, but while the state of the economy may hurt President Obama in November, the Republican candidates gain little by talking about the economy now. This is because Republican proposals for addressing the economy such as lowering taxes on wealthy Americans, deregulating business more and cutting government programs are the precise ideas which have been so damaging to the ratings of Republicans in Congress. Moreover, there is little disagreement among the major candidates regarding these solutions. The differences are primarily of degree, not of kind. Accordingly, while most of the Republican presidential candidates are happy to criticize the economy and what President Obama has done to try to fix the economy, they are considerably more reluctant to spend a lot of time on their own uninspiring proposals. The debates are therefore taken up with other issues that, at best, make the Republican candidates look unpresidential and, in most cases, make the candidates seem less appealing to voters.

Successful candidates for president must evolve from being just another politician, to a plausible candidate for president to somebody who most Americans could envision sitting in the Oval Office. For challengers, the earlier in the process this happens the better. In 2008, John McCain, despite being a poor candidate in some respects was, due to his long service in the U.S. Senate and his extraordinary personal history, easily viewed as a potential president relatively early in the primary process. Barack Obama did not achieve this status until later in the process in 2008, but through his political skills and wave of well known early endorsers was still able to be viewed as a plausible president relatively early in the primary season.

There are many ways to persuade the American people that one is qualified to sit in the Oval Office, but discussing moon colonies with Newt Gingrich or speculating on Ron Paul's fine physical health for a septuagenarian are not among them. This is the crux of the problems the debates raise for Mitt Romney, the likely Republican nominee. Even when he is winning them, as he did last Thursday, they are not moving him closer to convincing the American people he should be president. The debates create bigger problems for Romney because while he is trying to become president, his opponents are not. Ron Paul is trying to make a point, while Newt Gingrich is trying to rejuvenate his media career and have one last opportunity to lecture the American people.

It is only a slight overstatement to say that the Republican presidential candidates have debated 19 times and the winner of almost all of those debates has been Barack Obama. The extremist, and often poorly informed, views of most of the candidates, the emphasis on explaining minor differences and the time spent talking about issues which are of little importance to most voters have not helped any Republican seem like a strong threat to President Obama. With fewer debates in the next months, Romney may be able to focus more on Obama, but first he needs to make up for lost time and pass the presidential plausibility test.

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Follow Lincoln Mitchell on Twitter: www.twitter.com/LincolnMitchell

Source: http://www.huffingtonpost.com/lincoln-mitchell/the-republicans-19th-nerv_b_1242938.html

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Monday, January 30, 2012

SAG Awards Fashion Face-Off: Brangelina vs. Klooney


It takes a lot to topple Brangelina.

But, let's face it, if one man were up for the job, it would be George Clooney.

That's the mission facing this wildly popular actor below, as he and girlfriend Stacy Keibler have teamed up to take on Brad Pitt and Angelina Jolie in a SAG Awards-based Fashion Face-Off. Which couple looks hottest? Vote now:

Among other match-ups from last night's star-packed event:

Source: http://www.thehollywoodgossip.com/2012/01/sag-awards-fashion-face-off-brangelina-vs-klooney/

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Wanted Women

What the West can learn from two fiercely intelligent Muslim women who took opposing paths in life.

How do two women ? both in their 30s, highly intelligent, and raised as Muslims ? develop radically different ideas about militant Islam and its treatment of women?

Skip to next paragraph

This was the question journalist Deborah Scroggins set out to answer in Wanted Women, her six-year investigation into the lives of Pakistani neuroscientist Aafia Siddiqui and Dutch-Somali politician Ayaan Hirsi Ali. In ?Wanted Women,? Scroggins (who is also the author of the award-winning 2002 ?Emma?s War,? about a British relief worker who married a Sudanese warlord), covers events from before the bombing of the World Trade Center in 1993 up through the terrorist attacks on 9/11 and on to the present. She provides readers with a behind-the-scenes look at the war on terror as seen through the lives of two women who played prominent yet deeply contrasting roles in that war.

Scroggins?s exploration began after reading the headlines about the beheading of Dutch filmmaker Theo van Gogh. Van Gogh?s murder was directly linked to a controversial film, ?Submission,? which portrayed fictional Muslim women discussing the ?rapes, beatings, and incest they have suffered at the hands of Muslim men.? Van Gogh had directed the movie and Hirsi Ali had written it.

Scroggins was already on assignment to investigate the mysterious and brilliant Siddiqui for possible connections to Al Qaeda. Scroggins couldn?t help noticing a ?weird symmetry? to the lives of Siddiqui and Hirsi Ali. ?They were opposites, yet related,? Scroggins writes. ?Like the bikini and the burka....?

Written in alternating chapters (a device that disrupts the continuous flow of each woman?s personal story), Scroggins examines the public and private lives of Hirsi Ali and Siddiqui from birth to near present-day. Although both women grew up in Islamic households, their lives took vastly different routes. Siddiqui was raised ?to be a hero of Islam? and did not fail in her promises. Her parents sent her to the United States to receive a doctorate in neuroscience so she might become a ?true mujahida? ? an educated Muslim woman, following the ?model of the Prophet Mohammad?s wives.?

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/aSdx3sCHPlg/Wanted-Women

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Sunday, January 29, 2012

Arsenal advances in FA Cup

updated 2:08 p.m. ET Jan. 29, 2012

LONDON - Arsenal kept its bid to end a seven-year trophy drought on track Sunday, scoring three times in eight second-half minutes to beat Aston Villa 3-2 and reach the fifth round of the FA Cup.

Villa led 2-0 at halftime on goals by Richard Dunne and Darren Bent, prompting near silence from Arsenal fans still waiting for a trophy to follow the 2005 FA Cup.

The home side got back in the game with Robin van Persie's 54th-minute penalty, tied it on Theo Walcott's lucky rebound and took the lead in the 61st on a second spot kick from Van Persie.

Middlesbrough and Sunderland will replay on Feb. 7 for the right to face Arsenal after drawing their fourth-round match 1-1.

Having avoided a fourth straight defeat, the Gunners are now just three games away from a Wembley final.

"We tried to keep focused and calm," Arsenal manager Arsene Wenger said. "It is an opportunity but you could see today how hard the games are."

Arsenal great Thierry Henry missed a late chance after coming on in the 89th for the third appearance of his loan from the New York Red Bulls of MLS, but home fans could still cheer the result.

Robbie Keane, on-loan from the Los Angeles Galaxy, provided the cross that led to Dunne's 33rd-minute opener.

Second-tier Middlesbrough led against its local rival when Barry Robson capitalized on some weak defending to smash a 16th-minute volley across goalkeeper Simon Mignolet and in at the far post.

Sunderland manager Martin O'Neill introduced striker Fraizer Campbell at halftime for his first appearance since August 2010, and the former Manchester United trainee stroked in a low shot 14 minutes later following a mistake by Robson.

Campbell had not played for the first team for 500 days because of knee injuries.

Crawley Town, the lowest-ranked side left in this season's FA Cup, was handed a meeting with Premier League club Stoke in Sunday's fifth-round draw.

Liverpool will meet Brighton, Chelsea will host Birmingham, Norwich will host Leicester, Everton will play Blackpool or Sheffield Wednesday, and Bolton will go to the winner of the replay between Millwall and Southampton. Tottenham is at Stevenage.

___

BARCELONA, Spain (AP) ? David Zurutuza lasted only five minutes, but it was long enough to score a double in Real Sociedad's 5-1 rout of visiting Sporting Gijon in the Spanish league.

The 25-year-old midfielder volleyed Antoine Griezmann's cross into the left corner for Sociedad's second-minute opener, and a minute later he scored with another shot from the right side of the area after Carlos Vela had played him clear.

But Zurutuza's dream start took an ugly turn in the fifth minute when he and Sporting defender Gregory Arnolin collided face-to-face while disputing a loose ball.

Granada coach Abel Resino got off to a winning start as his team moved out of the relegation zone with a 2-1 win at Real Betis, while Getafe dealt Levante its second home loss of the season with a 2-1 win.

Later, Racing Santander hosts third-place Valencia while Sevilla is at Malaga. Atletico Madrid visits Osasuna on Monday.

On Saturday, Real Madrid moved seven points clear at the top of table with a 3-1 win over last-place Zaragoza and Barcelona's 0-0 draw at Villarreal.

___

ROME (AP) ? Inter Milan's seven-match winning streak in the Italian league was broken with a 1-0 loss at Lecce, which allowed Lazio to jump ahead of the Nerazzurri into fourth place.

Uruguayan midfielder Guillermo Giacomazzi scored in the 40th minute for Lecce and Inter had two goals called back for offside.

Inter was one win away from matching the club-record winning streak.

Massimo Oddo provided the pass for Giacomazzi, who used his chest to control the ball and slotted a low shot past goalkeeper Julio Cesar as defenders Lucio and Walter Samuel failed to intervene.

"We came up against a goalkeeper in great form, while we continually grew more nervous," Inter coach Claudio Ranieri said.

It was Lecce's first home win of the season and only its fourth overall.

Lazio won 3-0 at Chievo Verona with a first-half goal from Brazilian playmaker Hernanes and two strikes in the final minutes from veteran Germany striker Miroslav Klose.

Juventus, which edged Udinese 2-1 Saturday, leads Serie A with 44 points. AC Milan, which was hosting Cagliari later, is next with 40, followed by Udinese (38), Lazio (36) and Inter (35).

Elsewhere, Roma drew 1-1 at home with Bologna to stay sixth. Roma's 21-year-old midfielder Miralem Pjanic equalized with a splendid free kick in the 62nd minute after Bologna captain Marco Di Vaio had scored six minutes earlier.

Also, Genoa beat Napoli 3-2 with two goals from Rodrigo Palacio and one from newly signed Alberto Gilardino to get some revenge for a 6-1 loss to Napoli last month that cost Alberto Malesani his job.

In Sicily, Palermo beat last-place Novara 2-0, with Fabrizio Miccoli setting up two headers from Igor Budan; and Atalanta hung on with 10 men for a 1-0 win at Cesena following an own goal from Marco Rossi.

Fiorentina moved into the top half of the table with a 2-1 win over Siena in a Tuscan derby.

Stevan Jovetic put Fiorentina in front with a low shot four minutes in and Cesare Natali doubled the lead with a header in the 63rd before Emanuele Calaio pulled one back for Siena with a penalty in the 88th.

Making his debut after transferring from Juventus, Brazilian-born Italy forward Amauri had several chances for Fiorentina but couldn't find the target in his first action since the end of last season.

___

PARIS (AP) ? Ten-man Ajaccio moved out of the French league's relegation zone by defeating Valenciennes 2-1, its fourth straight victory.

The visitors were down to 10 men in the 73rd when midfielder Paul Lasne was sent off for a second yellow card, but substitute Christian Kinkela scored the winner in stoppage time by curling a shot into the top corner.

Also Sunday, Bordeaux goalkeeper Cedric Carrasso fouled Yannick Sagbo but saved the subsequent penalty to salvage a 0-0 draw against Evian.

___

AMSTERDAM (AP) ? Luuk de Jong scored three goals as FC Twente beat FC Groningen 4-1 and moved into second place in the Dutch league.

De Jong headed Twente into the lead in the 14th, converted another cross from Ola John in the 23rd and completed his hat trick in the 58th with another header ? again set up by John.

De Jong then provided the cross headed in by midfielder Leroy Fer in the 66th.

Twente has 39 points, two behind new leader PSV Eindhoven, which beat Vitesse Arnhem 3-1 Friday. AZ Alkmaar lost 2-0 at Roda JC to drop to third.

John Guidetti also got a hat trick to guide Feyenoord to a 4-2 win over Ajax.

___

GLASGOW, Scotland (AP) ? Celtic reached the final of Scotland's League Cup for the 29th time with a 3-1 win over Falkirk.

The teams were tied 1-1 until the 56th minute after 17-year-old Falkirk midfielder Jay Fulton equalized Celtic captain Scott Brown's penalty.

Striker Anthony Stokes put Celtic back in front with a 25-yard free kick and tapped Gary Hooper's pass in the 86th to settle the match.

Celtic will meet Kilmarnock in the final at Hampden Park on March 18. Celtic's 14 tournament wins is second only to Rangers' 27.

___

BERLIN (AP) ? Mainz scored three goals in the first 17 minutes to beat 10-man Freiburg 3-1 and climb to 12th in the Bundesliga.

Stuttgart was scheduled to host Borussia Moenchengladbach later Sunday, with the visitors hoping to stay within a point of the top three.

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


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Arsenal advances in FA Cup

Roundup: Arsenal kept its bid to end a seven-year trophy drought on track Sunday, scoring three times in eight second-half minutes to beat Aston Villa 3-2 and reach the fifth round of the FA Cup.

Bragging rights

Abby Wambach and Christine Sinclair have spent the last two weeks chasing each other, chasing history and chasing a place in the London Olympics.

Source: http://nbcsports.msnbc.com/id/46182135/ns/sports-soccer/

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The World?s First Computer Password? It Was Useless Too [Security]

If you're like most people, you're annoyed by passwords. You've got dozens to remember - some of them tortuously complex - and on any given day, as you read e-mails, send tweets, and order groceries online, you're bound to forget one, or at least mistype it. You may even be one of those unfortunate people who've had a password stolen, thanks to the dodgy security on the machines that store them. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/BEJi67dQKCs/the-worlds-first-computer-password-it-was-useless-too

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Saturday, January 28, 2012

Gov. pitching Conn. to business leaders in Davos (AP)

HARTFORD, Conn. ? Gov. Dannel P. Malloy says he's pitching Connecticut as a good place to do business at the World Economic Forum's annual meeting in Davos, Switzerland.

Malloy told reporters during a conference call Thursday that he's spoken with financial services firms, as well as technology, energy and bio-science companies that might be interested in bringing their operations to the state. Malloy said the discussions were mostly exploratory, but he believes it's important to make sure they know more about Connecticut

The Democratic governor was invited to attend the exclusive meeting of government and business leaders and VIPs. It runs through Sunday. He's participating in several panel discussions.

The cost of the trip, estimated at $4,500, is being covered by the University of Connecticut Foundation.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20120127/ap_on_bi_ge/us_malloy_davos_connecticut

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Macworld Is Weird Now [Video]

I love Macworld Expo. I've gone more years than I haven't out of the last dozen. But for most of those years, Apple was presenting. That's changed. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/eAcktiFCUig/macworld-is-weird-now

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Friday, January 27, 2012

Android app developer is looking for answers, take a minute and help

Android Market

Android application developers work hard and don't get nearly enough appreciation.  As you see mentioned just about everywhere, it's the application support that makes or breaks a mobile platform, so their job is pretty important.  Luckily, we're in good shape with Android, a look at the huge number of apps in just the official Android Market will confirm.  But there's more than sheer numbers.  We all want applications and games that offer just the right features, at the right level of performance, and at the right price.  Here's a chance for you to help.

Android application developer go6game has a short survey in the Android Central forums, and he'd like a little feedback.  The questions are simple enough to answer, but even i can see how the data he collects from this would help create games and apps that are not only more popular (Android app developers deserve to make a good living people), but work better and offer the features we want.  The questions he's asking are easy enough, consisting of things like how you discover and recommend apps to others.  Downloading apps from the Market is something every one of us does daily.  I think it's a great idea, and I know plenty of us will take the time to help out.

Apps don't write themselves, and quality apps certainly take a lot of thought and hard work to bring to market.  When an application developer takes the time to ask us just what we're looking for, the least we can do is tell him.  Hit the link below and do your part -- better apps and games will be the result, and who doesn't want that?

A bit of market research; Android Central forums

 



Source: http://feedproxy.google.com/~r/androidcentral/~3/Qhl5benT98Q/story01.htm

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HSBC under Senate scrutiny for money ... - Crain's Chicago Business

(Reuters) ? HSBC Holdings PLC is under investigation by a U.S. Senate panel in a money-laundering inquiry, the latest step in a long-running U.S. effort to halt shadowy money flows through global banks, according to people familiar with the situation and a company securities filing.

The inquiry being conducted by the Senate Permanent Subcommittee on Investigations could yield a report and congressional hearing later this spring, these people said. The subcommittee has a history of conducting high-profile hearings that have proved embarrassing for the world's biggest banks.

The intensifying scrutiny of HSBC is the latest in a series of investigations by U.S. officials into how global banks have processed -- and in some cases, intentionally hidden -- financial transactions on behalf of countries which allegedly support terrorism, corrupt foreign officials, drug gangs and criminals. Since 2008, European and U.S. banks have signed deferred prosecution agreements and paid more than $1.2 billion in penalties for alleged violations of anti-money laundering regulations.

The specific focus of the Senate probe of HSBC isn't known. A Reuters review of legal documents and prior regulatory probes, though, points to a number of alleged breakdowns in HSBC 's anti-money laundering systems.

HSBC spokesman Robert Sherman said in a statement, "We have ongoing discussions with officials" including the Senate panel "on a number of regulatory and compliance matters. The nature of these discussions is confidential; in all cases, we are cooperating."

A spokesperson for the Senate subcommittee declined comment.

Earlier this month, HSBC named former top U.S. Treasury Department official Stuart Levey as chief legal officer in a sign of how the bank is hiring outside experts in money laundering. Levey, who specialized in combating terrorism financing and left the Treasury Department last year, is based in London. An HSBC spokesman said Levey wasn't available for comment.

Stuart Gulliver, HSBC chief executive, said in a statement this month that Levey's experience "dealing with international financial and legal issues is highly relevant to a global bank such as HSBC."

EARLY WARNING SIGNS

For HSBC, which has operations in more than 80 countries and territories, the Senate probe is another sign that U.S. law enforcement officials are widening their inquiries into the London bank - one that for the past decade has repeatedly drawn scrutiny from U.S. financial regulators for weak money-laundering controls and allegedly enabling healthcare fraud and tax evasion.

In 2003 and 2010, two U.S. bank regulators raised serious concerns about the bank's anti-money laundering systems and staff and ordered the bank to improve anti-money laundering systems and personnel, according to enforcement actions by the Federal Reserve Bank of New York and the Comptroller of the Currency, a Treasury Department unit.

In securities filings, the bank has disclosed increasing inquiries. In 2010, the bank disclosed that it had received grand jury subpoenas and was being investigated by the Justice Department in money-laundering inquiries. It subsequently said the district attorney's office in Manhattan was investigating.

Then in November, HSBC said additional inquiries were being pursued by the Senate panel and the U.S. Securities and Exchange Commission, according to an SEC filing by HSBC USA Inc. The bank said the investigations focused on money laundering and the proper filing of U.S. taxes by customers. The unit is HSBC's main U.S. business, offering retail and corporate banking to some 4 million customers. HSBC's North American operations, which include HSBC Bank USA and a consumer-finance unit, account for about 5 percent of HSBC profits.

WEST VIRGINIA LINK

Investigations into how the bank allegedly was used to launder money extend to Vienna, W. Va. There, a pain-management doctor named Barton J. Adams was indicted in 2008 by the Justice Department on 169 counts of alleged healthcare fraud, tax evasion, money laundering and witness tampering. Adams allegedly moved hundreds of thousands of dollars in Medicare fraud proceeds between an HSBC Bank USA internet account and other HSBC accounts in Canada, Hong Kong and the Philippines, according to U.S. District Court filings in West Virginia. Dr. Adams has pleaded not guilty.

Stephen Herndon, an attorney for Adams, declined to comment citing the ongoing litigation. A spokesman for the U.S. attorney's office in West Virginia declined comment.

To be sure, HSBC isn't the only major bank to face scrutiny from regulators over alleged money laundering. In 2009 and 2010, Barclays PLC, Lloyds Banking Group and Credit Suisse Group agreed to forfeitures totaling $1.2 billion with U.S. regulators that found the banks evaded U.S. law in aiding sanctioned countries. In 2010, Royal Bank of Scotland Group PLC agreed to forfeit $500 million to the U.S. to cover ABN Amro Holding NV's illegal U.S. dollar transactions tied to Iran, Libya, the Sudan and Cuba. RBS and a bank consortium acquired ABN, a Dutch bank, in 2007.

Law-enforcement scrutiny is increasingly focused on narcotics proceeds moving between the U.S. and Mexico. In 2010, for example, Wachovia Bank, acquired by Wells Fargo & Co. in 2008, agreed to a $160 million settlement with the Justice Department, which alleged that failure in controls at the bank allowed drug traffickers to launder drug money tied to Mexico.

A 2011 study by the Government Accountability Office said that money from illegal drug sales in the U.S. that flows back to Mexico -- often in the form of large currency shipments called "bulk cash smuggling" -- totals between $18 billion and $39 billion a year. John Cassara, an expert on money laundering and former Treasury agent, said U.S. authorities struggle to stop the money flowing from the U.S. into Mexico.

HSBC UNDER MICROSCOPE

HSBC has faced several orders to improve its anti-money laundering policies. In 2003, HSBC Bank USA, under an agreement with the Federal Reserve Bank of New York and New York bank regulators, said a "common goal" with regulators was that the bank would "ensure that the bank fully addresses deficiencies in the bank's anti-money laundering policies and procedures."

At the time, the bank agreed to design a program to upgrade internal controls to ensure compliance with Bank Secrecy Act provisions to better monitor "suspicious or unusual activities."

In early 2010, HSBC again came under scrutiny. The Senate panel alleged in a report, titled "Keeping Foreign Corruption out of the United States," that HSBC, along with other banks, had allowed high-risk individuals, known as politically exposed persons, or PEPs, to route money through the U.S. financial system. Such persons are typically powerful foreign leaders, relatives and close associates from regimes prone to corruption.

The 2010 Senate report analyzed HSBC's ties to Angola, the oil-producing African country prone to graft and mismanaging oil revenues. The Senate report alleged that HSBC provided U.S. banking services to politically connected officials of Angola's national oil company through Banco Africano de Investimentos, or BAI, an Angolan private bank, without designating the transactions as potentially high risk. HSBC allowed those money movements "despite the presence of PEPs" in BAI's management and clientele.

At a Senate hearing, Wiecher Mandemaker, then a director of general compliance for HSBC Bank USA, said the bank believed that institutions such as BAI were important to helping move Africans "into the modern banking system." The HSBC official said the bank had thoroughly investigated BAI and that it was HSBC 's policy to discourage banking relationships with PEPs unless the bank had a long-standing relationship with the client and the bank believed the client had a "legitimate source of funds."

Mandemaker has since left the bank and could not be reached for comment.

In late 2010, the bank was hit with another order from a U.S. bank regulator to clean up its anti-money laundering system after the Office of the Comptroller of the Currency, or OCC, investigated several businesses that routed cash for clients and other banks. The probe and subsequent consent order "identified deficiencies" in the HSBC's anti-money laundering practices and among other requirements, ordered the bank to hire a permanent regional compliance officer and submit full compliance plans in policing improper money flows.

HSBC subsequently exited or curtailed those businesses. It separately has announced plans to exit numerous U.S. businesses, agreeing to sell both bank branches and a credit card business amid a shift to faster-growing economies.

The OCC found the bank's "compliance program and its implementation are ineffective" and that the bank faced the "significant potential for unreported money laundering or terrorist financing."

The OCC consent order said that between 2006 and 2009, HSBC had not properly monitored bulk cash transactions. The OCC order also said the bank did not "appropriately" designate customers as "high risk" even if the customer affiliation with a politically exposed person could hurt the bank's reputation. The report also criticized the bank for a backlog of unprocessed suspicious activity reports, known as SARs, that can tip off regulators to questionable money flows.

As part of the consent order, the bank said it had "committed to taking all necessary and appropriate steps to remedy the deficiencies."

Sherman, the HSBC spokesman, said, "We acknowledged we fell short of our own expectations and are working with our regulators to address and resolve the issues raised."

Sherman said the bank had taken steps such as investing in staff, a new anti-money laundering system, a new compliance helpline, and new training for all U.S. employees.

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(Note: Your first name and last initial will appear with your remarks.)

Source: http://www.chicagobusiness.com/article/20120125/NEWS01/120129863/hsbc-under-senate-scrutiny-for-money-laundering-sources

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Thursday, January 26, 2012

Council finds states weakening teacher tenure (AP)

WASHINGTON ? America's public school teachers are seeing their generations-old tenure protections weakened as states seek flexibility to fire teachers who aren't performing. A few states have essentially nullified tenure protections altogether, according to an analysis being released Wednesday by the National Council on Teacher Quality.

The changes are occurring as states replace virtually automatic "satisfactory" teacher evaluations with those linked to teacher performance and base teacher layoffs on performance instead of seniority. Politically powerful teachers' unions are fighting back, arguing the changes lower morale, deny teachers due process, and unfairly target older teachers.

The debate is so intense that in Idaho, for example, state superintendent Tom Luna's truck was spray painted and its tires slashed. An opponent appeared at his mother's house and he was interrupted during a live TV interview by an agitated man. Why? The Idaho legislature last year ended "continuing contracts" ? essentially equivalent to tenure ? for new teachers and said performance, not seniority, would determine layoffs. Other changes include up to $8,000 in annual bonuses given to teachers for good performance, and parent input on evaluations. Opponents gathered enough signatures to put a referendum that would overturn the changes on the November ballot.

Luna says good teachers shouldn't be worried.

"We had a system where it was almost impossible to financially reward great teachers and very difficult to deal with ineffective teachers. If you want an education system that truly puts students first, you have to have both," Luna said.

On Tuesday night, President Barack Obama weighed in on the issue during his State of the Union address. He said schools should be given the resources to keep and reward good teachers along with the flexibility to teach with creativity and to "replace teachers who just aren't helping kids learn."

Tenure protections were created in the early 20th century to protect teachers from arbitrary or discriminatory firings based on factors such as gender, nationality or political beliefs by spelling out rules under which they could be dismissed after a probationary period.

Critics say teachers too often get tenure by just showing up for work ? typically for three years, but sometimes less, and that once they earned it, bad teachers are almost impossible or too expensive to fire. The latest statistics from the National Center for Education Statistics, dating to the 2007-2008 school year, show about 2 percent of teachers dismissed for poor performance, although the numbers vary widely by school district.

The analysis by the National Council on Teacher Quality, a research and policy group that seeks to improve the quality of teaching, documents the shift in laws. In 2009, no state required student performance to be central to whether a teacher is awarded tenure; today, eight states do. The analysis also says four states now want evidence that students are learning before awarding tenure.

Other changes:

? In Florida, tenure protections were essentially made null and void with policy changes such as eliminating tenure-like benefits altogether for new teachers, but also spelling out requirements under which all teachers with multiple poor evaluations face dismissal.

? Rhode Island policies say teachers with two years of ineffective evaluations will be dismissed.

? Colorado and Nevada passed laws saying tenure can be taken away after multiple "ineffective" ratings.

? Eleven states now require districts to consider teacher performance when deciding who to let go.

? About half of all states have policies that require classroom effectiveness be considered in teacher evaluations.

? Florida, Indiana and Michigan adopted policies that require performance to be factored in teacher salaries.

A growing body of research demonstrates the dramatic difference effective teachers can play in student lives, from reducing teenage pregnancies to increasing a student's lifetime earnings. Meanwhile, while controversial, teacher evaluations have evolved in a way that proponents say allows better accounting of students' growth and of factors out of a teacher's control, like attendance.

The Obama administration has helped nudge the changes with its Race to the Top competition, which allowed states to compete for billions of education dollars, and offering states waivers around unpopular proficiency requirements in the No Child Left Behind education law. To participate in either, states have to promise changes such as tying teacher evaluations to performance.

"There's a real shift to saying all kids, especially our most disadvantaged kids, have access to really high quality and effective teachers. And, that's it's not OK for kids to have ... an ineffective teacher year after year," said Sandi Jacobs, vice president of the National Council on Teacher Quality.

Jacobs said tenure should be meaningful, but that in 39 states it's automatic.

"That's the problem with tenure, everybody gets it," she said. "If you're held to a high bar where you've really demonstrated that you are effective in the classroom, then there's nothing wrong with that as long as the due process rights that you do get are reasonable."

But many teachers feel under siege. They argue the evaluation systems are too dependent on standardized tests. While teachers' unions have gotten more on board with strengthening teacher evaluations, they often question the systems' fairness and want them designed with local teachers' input.

Randi Weingarten, president of the American Federation of Teachers, said unions understand the tenure process needs change, but that too often, school administrators have used it as an excuse to mismanage. "They want teachers to basically do exactly what they say, give them no resources and then blame them if they don't in a time of tremendous fiscal instability and fiscal pressures," Weingarten said.

In Boise, Idaho, Lane Brown, 56, a biology and horticulture teacher who moved from a private school a few years ago to a public alternative high school to seek new challenges after three decades of teaching, said her school's climate has dramatically changed.

"There's nobody in this building that doesn't understand it could be one of us, not just the newest teacher or the teacher with the fewest number of students. It could be anybody, ... which is scary. Every teacher here is saying, `I don't know if I'm going to have a job next year,'" Brown said.

In Florida, teachers fear expressing what they feel is best for students, said Andy Ford, president of the Florida Education Association.

"Teachers see positions not being filled, class sizes increasing, more demands, more testing, and you add all that together with their economic uncertainty about continued employment and it certainly doesn't allow you to go out and plan for long term investments like a home," Ford said.

Kathy Hebda, the deputy chancellor for education quality in Florida, said the contract-related changes were not done in "isolation," but as part of broader changes that improve accountability and provide teachers feedback.

Michelle Rhee, the former schools chancellor in Washington, D.C., acknowledged widespread mistrust among teachers about evaluations, but she said once teachers are brought into discussions, many are won over.

"If we know who the effective teachers are, if we know what kind of an impact effective teachers can have on individual kids and on our society overall, then why wouldn't we take the obvious step of utilizing the information on who are the most effective teachers to make our staffing decisions?" said Rhee, whose education advocacy group StudentsFirst is pushing for changes to layoff policies based on seniority.

Coming up, Missouri legislators appear poised to take up the contentious topic of teacher tenure. In Connecticut, the Connecticut Education Association launched a TV advertising campaign after Democratic Gov. Dannel P. Malloy and legislative leaders said education reform ? and possibly tenure ? will be the major focus of this legislative session. Louisiana Gov. Bobby Jindal and New Jersey, Gov. Chris Christie, both Republicans, are eyeing tenure law changes.

"Tenure laws will be under assault for many years to come," said Marjorie Murphy, a professor of history at Swarthmore College who wrote a book about the teacher labor movement. Murphy said ending tenure protections will "take over any sense of fair play between employer and employee. All of that will be gone."

_____

National Council on Teacher Quality: http://www.nctq.org/

____

Chris Blank in Jefferson City, Mo., and Jessie Bonner in Boise, Idaho, contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/us/*http%3A//news.yahoo.com/s/ap/20120125/ap_on_go_ot/us_teacher_tenure

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Wednesday, January 25, 2012

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Source: http://empirecraftwiki.com/on-the-internet-foreign-exchange-currency-investing-teaching-solution-to-foreign-exchange-investing-success

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Democrats get to break up GOP sand sculpture in SC

AAA??Jan. 23, 2012?6:00 PM ET
Democrats get to break up GOP sand sculpture in SC
AP

Members of The Democratic Women of Horry County, S.C., demolish the Republican 2012 Primary Debate sand sculpture Monday, Jan. 23, 2012, a feature from last week's televised Myrtle Beach, S.C. debate hosted by the South Carolina GOP and televised by Fox News. The organization secured the rights to demolish the sand sculpture. Dubbed ?Mount Myrtle?, the sand feature is located across the street from the Sheraton Myrtle Beach Hotel and Convention Center and encompasses over 700,000 pounds of sand. (AP Photo/The Sun News, Steve Jessmore)

Members of The Democratic Women of Horry County, S.C., demolish the Republican 2012 Primary Debate sand sculpture Monday, Jan. 23, 2012, a feature from last week's televised Myrtle Beach, S.C. debate hosted by the South Carolina GOP and televised by Fox News. The organization secured the rights to demolish the sand sculpture. Dubbed ?Mount Myrtle?, the sand feature is located across the street from the Sheraton Myrtle Beach Hotel and Convention Center and encompasses over 700,000 pounds of sand. (AP Photo/The Sun News, Steve Jessmore)

Members of The Democratic Women of Horry County, S.C., celebrate after they demolished the Republican 2012 Primary Debate sand sculpture Monday, Jan. 23, 2012, in Myrtle Beach, a feature from last week's televised Myrtle Beach, S.C. debate hosted by the South Carolina GOP and televised by Fox News. The organization secured the rights to demolish the sand sculpture. Dubbed ?Mount Myrtle?, the sand feature is located across the street from the Sheraton Myrtle Beach Hotel and Convention Center and encompasses over 700,000 pounds of sand. (AP Photo/The Sun News, Steve Jessmore)

Flora Pickett, left, and Elizabeth Bowns help demolish a sculpture going first for the likenesses of candidates Mitt Romney and Newt Gingrich. "It felt great. I'm not a great fan of Newt so I wanted to get him first," Pickett said. The Democratic Women of Horry County secured the rights to demolish the Republican 2012 Primary Debate Sand Sculpture today Monday, January 23, 2012, a visible feature from last week's televised Myrtle Beach, SC debate hosted by the South Carolina GOP and televised by Fox News. Dubbed ?Mount Myrtle?, the sand feature is located across the street from the Sheraton Myrtle Beach Hotel and Convention Center and encompasses over 700,000 pounds of sand. ?The candidates did a lot of talking, and now we?ll clean up in the aftermath,? said the group's president Sally Howard. ?In the words of Margaret Thatcher?If you want something said, ask a man?if you want something done, ask a woman.? Sun News Photo by Steve Jessmore

(AP) ? In South Carolina, it's not just Republicans who have been bashing each other lately. Local Democrats picked up pink shovels and took a whack at a sand sculpture of six GOP hopefuls that had been erected at Myrtle Beach.

With the South Carolina primary over, a Democratic women's group used pink shovels Monday to begin dismantling the sand sculpture depicting the Republican contenders. The sculpture was a prominent feature of the GOP debate Jan. 16 and took more than 700,000 pounds of sand to make.

A bulldozer finished the demolition job Monday as the women in yellow hard hats cheered. The sand is to be recycled into future sculptures.

The women won the right to demolish the sculpture after making a donation to a local crime-fighting cause.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2012-01-23-GOP%20Sand%20Sculpture/id-6f227c88c0084486a2ad26e3e1feb6dd

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Tuesday, January 24, 2012

Breakup app helps you find out 'WotWentWrong'

WotWentWrong

Screenshot from an example of step 1 from WotWentWrong

By Athima Chansanchai

For those whose breakups have left a bitter hole in their soul because not knowing why things ended gnaws at them, there is an app to try to find closure: WotWentWrong.

The free, website-based app helps compose letters intent on getting feedback from the ex that still occupies your head. Now, you've got your people who never remain friends with their exes. Good riddance. Chapter in life closed. Then you have those who acknowledge that they're part of a person's history and that you were friends before you failed at more-than-friends. This app would probably be best for the latter, for whom the pain of a breakup lingers.

I feel your pain.?

I always say that everyone gets together a different way, but breakups are all the same, or at least we all feel pretty crappy at the end. It's a universal letdown that has bonded me to others in a way that the pure happiness of falling in love hasn't. Everyone?? unless you're some automaton who's never broken a heart or had theirs broken?? knows how awful it feels for the promise of happily ever after to hit the skids.

The app walks you through a "Feedback Request" that is supposed to elicit honest answers from your ex. After putting in your name and the relationship causing you grief and stunting your healing, you're led to the "Write Request" section which has a drop down menu of request templates that includes many common feelings associated with exes: "Confused," "Flippant," "Please elaborate" to the brutally honest, "Not that into me."

WotWentWrong

Template for feedback request letter

So I conjured up the first breakup I ever had?? don't worry, I'm not going to out him here?? which was a puppy love, long-distance kind of thing. (We've actually been friends again for quite some time, and every time I'm in his city, I like to visit him and his family.) After much heartache and hindsight, I realized, things fade. And it's neither person's fault, it just doesn't click. But for the sake of trying out this app, I choose what my 16-year-old self probably would have picked: Confused.

It asks me to write some introductory text, something positive. Bleh. Ok, I would've said something like, "Hey, haven't heard from you in awhile, wanted to check in and see how you're doing!" (The exclamation point denotes that positive vibe.)

Then the template adds:

"I must admit I'm a bit confused! ??All the signals I got indicated that things were going well with us, but then our communication stopped.

I understand that something didn?t feel right for you and I would appreciate some feedback. I wonder if you could spare a moment to tell me your thoughts?"

And you're free to add more about the "current status of the relationship" or "express your disappointment," but I like the short and sweet approach they've come up with. What might be difficult, however, is to convince someone else that you're looking for closure, and that you won't hold what they say against you. You have to mean it, and I find it takes awhile for people to admit their part in a relationship's demise.

OK, here comes the weird part: the next page gives you "tease questions" to bolster the ex's ego and make it more palatable for them to answer your questions. You get to rate your ex's performance in bed, their attractiveness, sense of humor and their conversation skills (which would probably have to be on the low side to even get to this point). And that, in turn, is used to tempt them to click on the link in the message they're sent.

WotWentWrong

Screenshot from WotWentWrong

Once they read your letter, then they can select from a menu the reasons they think the relationship tanked, and add their own two cents, if need be.?

In the end, ideally, you get positive and constructive feedback from the ex and this is supposed to soothe your unsettled heart and help you move on. This could, however, uncork a whole new round of hurt and misery as more questions arise.

Then again, for some, it could help heal some open wounds as it boils down the complexities of a union (and its dissolution) into a few generic templates and answers.

The site also has a blog, and beginning in March, WotWentWrong will aggregate an anonymous stats page, so users can see the most popular breakup reasons (with the distinction between those that come after three dates vs. three months), and other dating trivia.?

More stories:

Check out Technolog on?Facebook, and on Twitter, follow?Athima Chansanchai, who is also trying to keep her head above water in the?Google+?stream.

Source: http://digitallife.today.msnbc.msn.com/_news/2012/01/24/10224194-breakup-app-helps-you-find-out-wotwentwrong

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Spokesman: Paterno in serious condition

People gather at a statue of former Penn State football coach Joe Paterno in State College, Pa, on Saturday, Jan. 21, 2012. Joe Paterno's doctors say the former coach's condition has become "serious" after he experienced complications from lung cancer in recent days. (AP Photo/John Beale)

People gather at a statue of former Penn State football coach Joe Paterno in State College, Pa, on Saturday, Jan. 21, 2012. Joe Paterno's doctors say the former coach's condition has become "serious" after he experienced complications from lung cancer in recent days. (AP Photo/John Beale)

FILE - In this Nov. 7, 2009, file photo, Penn State Coach Joe Paterno stands with his players before taking the field for an NCAA college football game against Ohio State in State College, Pa. A family spokesman says the former Penn State coach, who is battling lung cancer, is in serious condition after experiencing health complications. The 85-year-old Paterno has been in the hospital since Jan. 13 for observation for what his family had called minor complications from cancer treatments. (AP Photo/Carolyn Kaster, File)

People gather at a statue of former Penn State football coach Joe Paterno in State College, Pa., on Saturday, Jan. 21, 2012. Paterno's doctors say the former coach's condition has become "serious" after he experienced complications from lung cancer in recent days. (AP Photo/John Beale)

FILE - In this Oct. 13, 2007, file photo, Penn State head coach Joe Paterno stands with his team before they take the field to play for an NCAA college football game against Wisconsin in State College, Pa. A family spokesman says the former Penn State coach, who is battling lung cancer, is in serious condition after experiencing health complications. The 85-year-old Paterno has been in the hospital since Jan. 13 for observation for what his family had called minor complications from cancer treatments. (AP Photo/Carolyn Kaster, File)

Candles, flowers, notes and other mementos are placed at a statue of former Penn State football coach Joe Paterno in State College, Pa., on Saturday, Jan. 21, 2012. Paterno's doctors say the former coach's condition has become "serious" after he experienced complications from lung cancer in recent days. (AP Photo/John Beale)

(AP) ? Joe Paterno's doctors said Saturday that the former Penn State coach's condition had become "serious," following complications from lung cancer in recent days.

The winningest major college football coach, Paterno was diagnosed shortly after Penn State's Board of Trustees ousted him Nov. 9 in the aftermath of the child sex abuse charges against former assistant Jerry Sandusky. While undergoing treatment, his health problems worsened when he broke his pelvis ? the same injury he sustained during preseason practice last year.

"Over the last few days Joe Paterno has experienced further health complications," family spokesman Dan McGinn said in a brief statement to The Associated Press. "His doctors have now characterized his status as serious. His family will have no comment on the situation and asks that their privacy be respected during this difficult time."

Paterno's sons Scott and Jay each took to Twitter on Saturday night to refute reports that their father had died.

Wrote Jay Paterno: "I appreciate the support & prayers. Joe is continuing to fight."

Quoting individuals close to the family, The Washington Post reported on its website that Paterno remained connected to a ventilator, but had communicated his wishes not to be kept alive through any extreme artificial means. The paper said his family was weighing whether to take him off the ventilator on Sunday.

The 85-year-old Paterno has been in the hospital since Jan. 13 for observation for what his family called minor complications from his cancer treatments. Not long before that, he conducted his only interview since losing his job, with the Post. Paterno was described as frail and wearing a wig. The second half of the two-day interview was conducted from his bedside.

Roughly 200 students and townspeople gathered Saturday night at a statue of Paterno just outside a gate at Beaver Stadium. Some brought candles, while others held up their smart phones to take photos of the scene. The mood was somber, with no chanting or shouting.

"Drove by students at the Joe statue," Jay Paterno tweeted. "Just told my Dad about all the love & support--inspiring him."

Penn State student David Marselles held a candle in his right hand and posed next to a life-sized cardboard cutout of Paterno that he keeps at his apartment. A friend took a photo on the frigid night.

"I came to Penn State because of Joe Paterno. Since I was a little kid, I've been watching the games ... screaming 'We Are ... Penn State' because of him. ... He inspired me to go to college," Marselles said. "With such a tragic event like this, I just thought it was necessary to show my support."

The final days of Paterno's Penn State career were easily the toughest in his 61 years with the university and 46 seasons as head football coach.

Sandusky, a longtime defensive coordinator who was on Paterno's staff during two national title seasons, was arrested Nov. 5 and ultimately charged with sexually abusing a total of 10 boys over 15 years. His arrest sparked outrage not just locally but across the nation and there were widespread calls for Paterno to quit.

Paterno announced late on Nov. 9 that he would retire at the end of the season, but hours later he received a call from board vice chairman John Surma, telling him he had been terminated. By that point, a crowd of students and media were outside the Paterno home. When news spread that Paterno had been dumped, there was rioting in State College.

Police on Saturday evening barricaded the block where Paterno lives, and a police car was stationed about 50 yards from his home. Several people had gathered in the living room of the house. No one was outside, other than reporters and photographers.

Trustees said this week they pushed Paterno out in part because he failed a moral responsibility to report an allegation made in 2002 against Sandusky to authorities outside the university. They also felt he had challenged their authority and that, as a practical matter, with all the media in town and attention to the Sandusky case, he could no longer run the team.

Paterno testified before the grand jury investigating Sandusky that he had relayed to his bosses an accusation that came from graduate assistant Mike McQueary, who said he saw Sandusky abusing a boy in the showers of the Penn State football building.

Paterno told the Post that he didn't know how to handle the charge, but a day after McQueary visited him, he spoke to the athletic director and the administrator with oversight over the campus police.

Wick Sollers, Paterno's lawyer, called the board's comments this week self-serving and unsupported by the facts. Paterno fully reported what he knew to the people responsible for campus investigations, Sollers said.

"He did what he thought was right with the information he had at the time," Sollers said.

Sandusky says he is innocent and is out on bail, awaiting trial.

The back and forth between Paterno's representative and the board reflects a trend in recent weeks, during which Penn State alumni ? and especially former players, including Hall of Fame running back Franco Harris ? have questioned the trustees' actions and accused them of failing to give Paterno a chance to defend himself.

Three town halls, in Pittsburgh, suburban Philadelphia and New York City, seemed to do little to calm the situation and dozens of candidates have now expressed interest in running for the board, a volunteer position that typically attracts much less interest.

While everyone involved has said the focus should be on Sandusky's accusers and their ordeals, the abuse scandal brought a tarnished ending to Paterno's sterling career. Paterno won 409 games and took the Nittany Lions to 37 bowl games and those two national championships, the last in the 1986 season. More than 250 of the players he coached went on to the NFL.

Throughout his coaching years, Paterno maintained that, yes, winning was important, but even more important was winning with honor.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-01-22-Penn%20State-Paterno/id-65e609a0835648bbba01c7b4b0aa3736

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Monday, January 23, 2012

Why The Colts Should Pass On Peyton Manning (Time.com)

Nearly four years ago, when the NFL announced that Indianapolis would host the Super Bowl in 2012, you couldn't blame a Hoosier for getting all dreamy. Back then, Peyton Manning was 32, and had never missed a game in his dominant NFL career. He was coming off another stellar season, in which the Colts finished 13-3 and took their fifth straight division title. His Colts had won the Super Bowl the prior year, over the Chicago Bears. The dream of Manning marching off the field at Lucas Oil Stadium, hoisting the Lombardi trophy in front of an adoring home crowd, seemed very real.

Now, the dream has been shattered, in a way that no one saw coming. The only Manning who might be winning a Super Bowl in Indy is Eli, Peyton's kid brother, whose Giants will play the San Francisco 49ers on Sunday in the NFC Championship game (New England hosts Baltimore in the AFC title game). And just as the city he turned into an NFL powerhouse enjoys the spotlight that comes with a Super Bowl, it's entirely possible that Peyton may have already played his last game for the Colts. (MORE: Tebow the Terrible, Colts Win By Losing: Three Lessons from the NFL's Week 17)

The team is coming off a dismal 2-14 season in which Manning didn't take a snap because of a neck injury that has already required three surgeries. The team's third-year coach, Jim Caldwell, who led the Colts to a Super Bowl in his first season ? the New Orleans Saints knocked them off ? has been fired. Colts vice chairman Bill Polian, who built the 21st century Colts into consistent winners, was also let go. And in case there hasn't been enough drama of late: on Wednesday, an actor who plays the city manager of a fictional Indiana town on television, Parks and Recreation star Rob Lowe, tweeted: "Hearing my fave, #18 Peyton Manning will not return to #NFL. Wow. #Colts." Both Manning's father, Archie, and his agent denied that Manning was hanging it up, though Lowe, who is friendly with Colts owner Jim Irsay, has insisted he's got good sources.

Who knows, maybe Lowe is the best-connected ? and by far best-looking ? NFL reporter around. But unless Manning's injuries are debilitating, it's hard to believe such a fiercely competitive and talented QB would hang it up for good just yet. That doesn't mean, however, that he would still be playing for the Colts.

Because of Manning's injury, the 2011 Colts finished 2-14, the worst record in the league, giving Indianapolis the first pick in the upcoming NFL draft. Typically, when a team with a player on the level of a Peyton Manning at quarterback receives such a high pick, it looks to trade it away, or to select a non-quarterback to improve the talent around him. But this also happens to be a year in which a prospect labeled as the next Peyton Manning ? Stanford University quarterback Andrew Luck - is available. So as the Colts well know, when a Peyton Manning is out there, you grab him ? just like Indianapolis did in the 1998 draft, after the team finished with league-worst 3-13 record, and Manning had just completed an outstanding college career at Tennessee. ( MORE: The NFL's Royal Family)

Those Colts started Manning right away, and that move worked out pretty well for them. Wouldn't it make sense to give Luck the ball immediately, especially since there are still serious concerns about Manning's health? Recent history says these top prospects can play: last year's top pick, Carolina Panthers quarterback Cam Newton, just became the first rookie to pass for over 4,000 yards. Plus, what team wants to pay someone $15 million, which is about what Luck will make his rookie year in signing bonus and base salary, to be a backup?

Then again, that's a tad better than having an $18.5 million-a-year backup, which is what Manning would be if the Colts were to keep him and then hand the ball to Luck. The Colts are facing a huge economic decision with Manning, and the most cost-effective option would be to let him go. After the NFL returned from the lockout in late July, the Colts signed Manning to a 5-year, $90 million deal, which on the surface seems reckless, since Manning had already undergone two neck surgeries. But the deal was structured to give the Colts an escape route if Manning did not recover quickly from the operations, which he clearly hasn't.

As part of the deal, the Colts owe Manning a $28 million option bonus, which they must pay him by March 8th. Indy can release Manning before March 8th and save themselves an enormous payout: if they do so, the Colts would likely take a $16 million hit against the salary cap in 2012, according to Brian McIntyre, salary cap expert for footballoutsiders.com, an analytics site. But after 2012, Manning's contract would come off the salary cap books, which would give the Colts an annual windfall with which to build a team around Luck. (In 2011, the NFL salary cap was around $120 million per team). Further complicating the decision is that the Colts cannot trade Manning before March 8. But if the Colts pay Manning his $28 million and then trade him, not only are the Colts out $28 million, but the salary cap penalties are even more severe: the Colts would take a $9.6 million hit in 2012, then a crushing $28.8 million blow in 2013. Plus, the Colts might not get much in return for a player whose long-term health is questionable. If the Colts bet that Manning will be healthy for the life of the contract and hold onto him, they're out $28 million on the option bonus, and he'd take up $18.5 million of the Colts salary cap, on average, for the next four years.

"I don't think the Colts are going to pick up the option," says McIntyre. "Look at what's going on: the Colts are completing a clean sweep. As good as he has been, it's hard to imagine Manning being the financial anchor of the franchise going forward." ( MORE: Tim Tebow and Faith's Place in Football)

Yes, we can get sentimental, and mention how it's hard to picture Manning in another NFL uniform. But cutting the chord with a franchise player has worked out well in the past for other teams ? and the jilted legends as well. The San Francisco 49ers, for example, traded an aging, achy Joe Montana to the Kansas City Chiefs at the end of his career to pave the way for Steve Young. Young won a Super Bowl in the 1994 season, and Montana led the Chiefs to the AFC championship game in the 1993 season. The franchise hasn't won a playoff game since. Green Bay nudged Brett Favre aside for Aaron Rodgers in 2008. Rodgers also won a title, and though Favre became a national punch line because of his dithering, and sexting shenanigans, let's not forget his 2009 season with Minnesota, one of the best of his Hall of Fame career.

The Colts are grappling with a dilemma most successful sports franchises face at some point ? whether to overpay for the subpar twilight years of a team's longtime star. While football teams have made rational decisions, baseball tends to reward aging legends for past performances, rather than future returns over the life of a contract. The New York Yankees, for example, gave Derek Jeter, 37, a 3-year, $51 million deal last off-season. Jeter hit .297 in 2011, but spent time on the disabled list and finished with career lows in home runs (6) and RBI (61). He's no $16 million-a-year player. The Yankees are probably also ruing the 10-year, $275 million deal they gave Alex Rodriguez in 2007, when he was 32: at 36, he appeared pretty shot in last year's playoffs, and they're on the hook for another $143 over the next six years. The Los Angeles Angels should expect impressive production from Albert Pujols, 32, whom they signed to a 10-year, $254 million contract. But history suggests that Pujols won't be a $30 million-a-year player when he's pushing 40.

Football is a crueler business than other sports, thanks to non-guaranteed contracts for NFL players, and the hard salary cap for its teams. A team has a distinct disincentive to overpay a beloved, but unproductive, aging star as a token of appreciation, even if it could afford to do so and the fan favorite could still sell tickets: a bloated salary takes up precious cap space, hampering its ability to build a winner. Plus, the specialized nature of the game forces such hard choices. Indy's 2-14 campaign is similar to the 1996-1997 NBA season, when San Antonio Spurts star David Robinson, like Manning, missed the season with an injury. The Spurs, like the Colts regular championship contenders, suffered through a miserable season, ala Indy: San Antonio finished 20-62, and also won the first pick in the draft, which they used on Tim Duncan. The Duncan-Robinson twin towers combo won two NBA titles together.

Unfortunately for the Colts, two quarterbacks can't play at the same time. So as shocking as it may be to their fans, Indy should probably press their Luck, and part ways with Peyton.

Sean Gregory is a staff writer at TIME. Keeping Score, his sports column for TIME.com, usually appears Friday. Follow him on Twitter at @seanmgregory. You can also continue the discussion on TIME's Facebook page and on Twitter at @TIME.

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