China reveals its space plans up to 2016 (AP)

BEIJING ? China plans to launch space labs and manned ships and prepare to build space stations over the next five years, according to a plan released Thursday that shows the country's space program is gathering momentum.

China has already said its eventual goals are to have a space station and put an astronaut on the moon. It has made methodical progress with its ambitious lunar and human spaceflight programs, but its latest five-year plan beginning next year signals an acceleration.

By the end of 2016, China will launch space laboratories, manned spaceship and ship freighters, and make technological preparations for the construction of space stations, according to the white paper setting out China's space progress and future missions.

China's space program has already made major breakthroughs in a relatively short time, although it lags far behind the United States and Russia in space technology and experience.

The country will continue exploring the moon using probes, start gathering samples of the moon's surface, and "push forward its exploration of planets, asteroids and the sun."

It will use spacecraft to study the properties of black holes and begin monitoring space debris and small near-Earth celestial bodies and build a system to protect spacecraft from debris.

The paper also says China will improve its launch vehicles, improve its communications, broadcasting and meteorological satellites and develop a global satellite navigation system, intended to rival the United States' dominant global positioning system (GPS) network.

China places great emphasis on the development of its space industry, which is seen as a symbol of national prestige.

Its space principles ? including peaceful development, enhancing international cooperation and deep space exploration ? are largely unchanged from its previous two documents detailing the progress of China's space missions, released in 2000 and 2006.

In 2003, China became the third country behind the U.S. and Russia to launch a man into space and, five years later, completed a spacewalk. Toward the end of this year, it demonstrated automated docking between its Shenzhou 8 craft and the Tiangong 1 module, which will form part of a future space laboratory.

In 2007, it launched its first lunar probe, Chang'e-1, which orbited the moon, collecting data and a complete map of the moon.

Since 2006, China's Long March rockets have successfully launched 67 times, sending 79 spacecraft into orbit.

Some elements of China's program, notably the firing of a ground-based missile into one of its dead satellites four years ago, have alarmed American officials and others who say such moves could set off a race to militarize space. That the program is run by the military has made the U.S. reluctant to cooperate with China in space, even though the latter insists its program is purely for peaceful ends.

"China always adheres to the use of outer space for peaceful purposes, and opposes weaponization or any arms race in outer space," Thursday's white paper states.

The Chinese government's policy is to "reinforce" space cooperation with developing countries and "value" space cooperation with developed countries. The paper lists cooperation between China and countries including Russia, Brazil, France and Britain, and says of the United States: NASA's director visited China "and the two sides will continue to make dialogue regarding the space field."

Source: http://us.rd.yahoo.com/dailynews/rss/space/*http%3A//news.yahoo.com/s/ap/20111229/ap_on_re_as/as_china_space

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Video: Santelli's Take on Housing

CNBC's Rick Santelli weighs in on whether housing will continue with momentum into 2012, saying "certainly foreclosures is the big issue, but we don't know how much are going to be in the marketplace because banks are sitting on numbers."

Related Links:

Business & financial news headlines from msnbc.com

Source: http://video.msnbc.msn.com/cnbc/45827935/

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Google+ to hit 100 million by February: expert

Paul Allen

By Athima Chansanchai

As 2011 ends, Google+ is poised to cross the 100 million user threshold by February, a feat that took Facebook four years to do.

Avid Google+ watcher and Ancestry.com founder Paul Allen (not to be confused with the Microsoft co-founder) has become something of an unofficial tracking source for G+ since his prediction early on in July that the then-newborn social network would surpass 10 million within two weeks.?

In a recent post (on G+, naturally), his forecast sees G+ with 400 million users by the end of 2012. His research shows 625,000 users signing up to G+ every day and already past 62 million. But he thinks that rate is going to go up, because if it stays the way it is now, there will be only about 293 million users at the end of next year. Only! But at this rate, 100 million will join by Feb. 25 and 200 million by Aug. 3.

To spur that optimism, he pulls out this stat, which is actually quite a jolt, if it's anywhere near accurate: Nearly a quarter of all G+ users joined in December. Maybe that's due to some recent improvements, such as editing streams, the debut of G+ Pages and enhancements to Hangouts. There was also a big spike in G+ traffic when it opened up to the public, beyond private invitations, in September.

But a 60 percent decrease in traffic right after that?tempered at least some of that enthusiasm.

Now though, the outlook on G+ is bullish again.?

A recent comScore report on social networking actually upped G+'s numbers to 65 million around the world, or 5 percent of the global social networking audience. ?

Chitika Insights, the "independent research division" of the online advertising network, also saw significant upticks in the past three months, as you can see from this graph, using this methodology:?

?

Chitika Insights

The graph above shows activity index for Google+ between September and November 2011. The highest level of activity observed receives a value of 100, and the other data points are simply a function thereof. The arrows represent the percentage increase in activity witnessed between month to month data sets, all of which were sampled in the second week of each respective month.

Chitika told us that between September and November, Google+ "saw a 118 percent increase in overall online activity. From September to October Google+ posted the biggest growth figures (55 percent), followed by a growth in online activity of 41 percent between October and November."

The company, which has kept tabs on G+ for awhile, says that this?growth may be due to several key factors:

• Google has been successfully integrating Google+ across its wide range of services (Android, Google Apps, Search)
• Google has been heavily advertising Google+ across different channels including television spots and online placements, hoping to connect with a? main-stream audience
• Google has remained dedicated to increasing the functionality and accessibility of Google+ to the public and has plans for rapid releases of new features over the course of 2012

Mind you, Google+ still has a long way to go before it gets anywhere near the 800 million currently on Facebook. But at the same time in its history, at six months old, in 2004, Facebook barely had 1 million users.

And right out of the gate, G+'s turbo-charged entry into the social media sphere blew everyone else away, attaining 20 million users in less than a month, a milestone that took Facebook more than three years to do.

But let's remember: Facebook and Twitter and other pioneers had to build up an audience in which social networking wasn't the norm yet, where only a select few were using Friendster or MySpace. Google+ has the advantage of debuting in a time when social networking dominates the time spent online.

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://technolog.msnbc.msn.com/_news/2011/12/28/9772794-google-to-hit-100-million-by-february-expert

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97% The Artist

All Critics (134) | Top Critics (37) | Fresh (130) | Rotten (4)

The Artist is the most surprising and delightful film of 2011.

A silent movie shot in sumptuous black-and-white, no less. A silent flick made with not a jot of distancing winking, but instead born of a heady affection for a bygone, very bygone, era of filmmaking.

It's a rocket to the moon fueled by unadulterated joy and pure imagination.

Strangely, wonderfully, The Artist feels as bold and innovative a moviegoing experience as James Cameron's bells-and-whistles Avatar did a couple of years ago.

"The Artist'' is a small, exquisitely-cut jewel in a style everyone assumes is 80 years out of date.

A beguiling tale about Hollywood's silent movie days that is itself silent, this made-in-L.A. French feature will charm cinephiles with its affection for one of the movies' golden ages.

...a good film with some great moments and two excellent lead performances...

full review at Movies for the Masses

...one of the most original films of this decade.

It's a valentine to the cinema that comes from the heart.

It's easy to dismiss The Artist as a simple love letter to the silent-film era, but there is a lot more at work here than just an attention-getting gimmick.

This film says a lot, without saying nearly any words. It's one of the best of 2011. (Content Review for Parents also available)

Not only does 'The Artist' clearly demonstrate that something was lost when movies started talking, but it also proves that we haven't begun to learn what can be done with images alone.

It may be silent, but The Artist earns some very loud applause

The Artist is a slight confection, really, but it's so delicious and knowing that it may well end up on any number of cineastes' desert-island lists. It's certainly on mine.

"The Artist" may be too cute to qualify as high art, but it's highly entertaining.

The story and the silent-era conventions may not be entirely original, but the director revives this uniquely American storytelling style with such infectious joy and life-affirming enthusiasm that it's nearly impossible not to respond in equal measure.

Essentially a stunt, but an expertly executed one that's immensely enjoyable, especially for movie buffs...a nimble, exuberant lark.

'The Artist' paints a glorious picture of old Hollyood.

In the more eye-pleasing The Artist, the plot eventually comes too close to its inspiration, though its early moments were headed for mastery - and transformation - of style.

Hazanavicius crafted more than a replica of the silent era... a masterwork that likely won't be imitated. How many movies in 2011 can you say that about? Only the best one.

"The Artist" is a delightful treasure. It is a charming mixture of comedy, melodrama and romance that cinema lovers should make a point of experiencing.

This is not some clinical dissection of bygone cinematic techniques; it's a lively, appealing effort that mostly rises above mere novelty.

It's about more than the gimmick, and The Artist will be calling to you, entrancing you and making you feel the love.

More Critic Reviews

No quotes approved yet for The Artist. Logged in users can submit quotes.

Source: http://www.rottentomatoes.com/m/the_artist/

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?ddia : Apple, Steve Jobs'un do?um g?n?nde yeni iPad modelini tan?tabilir

[unable to retrieve full-text content]

Source: www.donanimhaber.com --- Monday, December 26, 2011
Apple'?n tan?tmas? beklenen s?radaki cihaz? yeni IPad modeli i?in boyutlar? veya donan?m?yla ilgili pek ?ok iddia g?ndeme geliyor. Ancak Focus Taiwan sitesi daha ilgin? bir iddia ortaya att?.Sitenin Tayvanl? tedarik zincirindeki kaynaklara dayand?rarak verdi?i haberine g?re Apple, yeni IPad modelini Steve Jobs'un do?um g?n? an?s?nda 24 ?ubat'ta tan?tacak. Ancak bu tan?tmaktan ziyade sat??a ba?lanacak g?n olacak. ...

Source: http://www.donanimhaber.com/iddia__Apple_Steve_Jobsun_dogum_gununde_yeni_iPad_modelini_tanitabilir-30954.htm

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'Rare' brain disorder may be more common than thought, scientists say

ScienceDaily (Dec. 25, 2011) ? A global team of neuroscientists, led by researchers at Mayo Clinic in Florida, has found the gene responsible for a brain disorder that may be much more common than once believed. In the Dec. 25 online issue of Nature Genetics, the researchers say they identified 14 different mutations in the gene CSF1R that lead to development of hereditary diffuse leukoencephalopathy with spheroids (HDLS). This is a devastating disorder of the brain's white matter that leads to death between ages 40 and 60. People who inherit the abnormal gene always develop HDLS. Until now, a definite diagnosis of HDLS required examination of brain tissue at biopsy or autopsy.

The finding is important because the researchers suspect that HDLS is more common than once thought and a genetic diagnosis will now be possible without need for a brain biopsy or autopsy. According to the study's senior investigator, neurologist Zbigniew K. Wszolek, M.D., a significant number of people who tested positive for the abnormal gene in this study had been diagnosed with a wide range of other conditions. These individuals were related to a patient known to have HDLS, and so their genes were also examined.

"Because the symptoms of HDLS vary so widely -- everything from behavior and personality changes to seizures and movement problems -- these patients were misdiagnosed as having either schizophrenia, epilepsy, frontotemporal dementia, Parkinson's disease, multiple sclerosis, stroke, or other disorders," says Dr. Wszolek. "Many of these patients were therefore treated with drugs that offered only toxic side effects.

"Given this finding, we may soon have a blood test that can help doctors diagnose HDLS, and I predict we will find it is much more common than anyone could have imagined," he says.

Dr. Wszolek is internationally known for his long-term efforts to bring together researchers from around the world to help find cases of inherited brain disorders and discover their genetic roots.

Dr. Wszolek's interest in HDLS began when a severely disabled young woman came to see him in 2003 and mentioned that other members of her family were affected. The diagnosis of HDLS was made by his Mayo Clinic colleague, Dennis W. Dickson, M.D., who reviewed the autopsy findings of the patient's uncle, who had previously been misdiagnosed as multiple sclerosis, and subsequently, Dr. Wszolek's patient and her father. All members of the family had HDLS.

Dr. Dickson had identified other cases of HDLS from Florida, New York, Oregon and Kansas in the Mayo Clinic Florida brain bank and knew of a large kindred in Virginia with similar pathology, based upon a presentation at the annual meeting of the American Association of Neuropathologists. With concerted efforts, Dr. Wszolek and collaborators at University of Virginia were able to obtain DNA samples from the Virginia kindred. Dr. Wszolek also sought other cases, particularly those that had been reported in the neuropathology literature, and he was able to obtain samples from Norway, the United Kingdom, Germany and Canada, and other sites in the U.S. He and his team of investigators and collaborators have since published studies describing the clinical, pathologic and imaging characteristics of the disorder, and they have held five international meetings on HDLS.

In this study, which included 38 researchers from 12 institutions in five countries, the study's first author, Rosa Rademakers, Ph.D., led the effort to find the gene responsible for HDLS. Her laboratory studied DNA samples from 14 families in which at least one member was diagnosed with HDLS and compared these with samples from more than 2,000 disease-free participants. The gene was ultimately found using a combination of traditional genetic linkage studies and recently developed state-of-the art sequencing methods. Most family members studied -- who were found to have HDLS gene mutations -- were not diagnosed with the disease, but with something else, thus emphasizing the notion that HDLS is an underdiagnosed disorder.

The CSF1R protein is an important receptor in the brain that is primarily present in microglia, the immune cells of the brain. "We identified a different CSF1R mutation in every HDLS family that we studied," says Dr. Rademakers. "All mutations are located in the kinase domain of CSF1R, which is critical for its activity, suggesting that these mutations may lead to deficient microglia activity. How this leads to white matter pathology in HDLS patients is not yet understood, but we now have an important lead to study."

"With no other disease have we found so many affected families so quickly," says Dr. Wszolek. "That tells me this disease is not rare, but quite common." He adds, "It is fantastic that you can start an investigation with a single case and end up, with the help of many hands, in what we believe to be a world-class gene discovery."

The study was funded by a Mayo benefactor and the Mayo Foundation. Additionally, Mayo Clinic in Florida is a Morris K. Udall Parkinson's Disease Research Center of Excellence supported by the National Institute of Neurological Disorders and Stroke.

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Story Source:

The above story is reprinted from materials provided by Mayo Clinic.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.

---

Journal Reference:

1. Rosa Rademakers, Matt Baker, Alexandra M Nicholson, Nicola J Rutherford, NiCole Finch, Alexandra Soto-Ortolaza, Jennifer Lash, Christian Wider, Aleksandra Wojtas, Mariely DeJesus-Hernandez, Jennifer Adamson, Naomi Kouri, Christina Sundal, Elizabeth A Shuster, Jan Aasly, James MacKenzie, Sigrun Roeber, Hans A Kretzschmar, Bradley F Boeve, David S Knopman, Ronald C Petersen, Nigel J Cairns, Bernardino Ghetti, Salvatore Spina, James Garbern, Alexandros C Tselis, Ryan Uitti, Pritam Das, Jay A Van Gerpen, James F Meschia, Shawn Levy, Daniel F Broderick, Neill Graff-Radford, Owen A Ross, Bradley B Miller, Russell H Swerdlow, Dennis W Dickson, Zbigniew K Wszolek. Mutations in the colony stimulating factor 1 receptor (CSF1R) gene cause hereditary diffuse leukoencephalopathy with spheroids. Nature Genetics, 2011; DOI: 10.1038/ng.1027

Note: If no author is given, the source is cited instead.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/~3/wY-te0PwY5g/111225144314.htm

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EZ Energy completes sale-leaseback of 18 US gas stations

RBR Staff Writer Published 27 December 2011

EZ Energy, an Israel-based firm formerly known as Adiron Investments, has sold 18 gas stations in the US for $24.5m in a sale and lease-back deal.

The buyer will lease back the properties to EZ Energy USA for 15 years, with an option to extend for a further 15-30 years, for $2.27m a year, reported csnews.com.

EZ Energy USA will reportedly payback $12m out of the sale proceeds to the banks from where the company took the original loan to buy the properties.

The company will have to buy land at two gas stations for an estimated $1.15m before the sale to the buyer. The company said the lease-back of the gas stations reflects an initial return on investment of 9.25% a year. Rent will rise by 2% yearly.

EZ Energy, through its subsidiaries, owns and operates gas stations and convenience stores. The company owns 100 gas stations in the US.

Source: http://conveniencestoresgasstations.retail-business-review.com/news/ez-energy-completes-sale-leaseback-of-18-us-gas-stations-271211

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?ddia : Apple, Steve Jobs'un do?um g?n?nde yeni iPad modelini tan?tabilir

[unable to retrieve full-text content]

Source: www.donanimhaber.com --- Monday, December 26, 2011
Apple'?n tan?tmas? beklenen s?radaki cihaz? yeni IPad modeli i?in boyutlar? veya donan?m?yla ilgili pek ?ok iddia g?ndeme geliyor. Ancak Focus Taiwan sitesi daha ilgin? bir iddia ortaya att?.Sitenin Tayvanl? tedarik zincirindeki kaynaklara dayand?rarak verdi?i haberine g?re Apple, yeni IPad modelini Steve Jobs'un do?um g?n? an?s?nda 24 ?ubat'ta tan?tacak. Ancak bu tan?tmaktan ziyade sat??a ba?lanacak g?n olacak. ...

Source: http://www.donanimhaber.com/iddia__Apple_Steve_Jobsun_dogum_gununde_yeni_iPad_modelini_tanitabilir-30954.htm

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London subway strike delays Boxing Day shoppers

People rush into a department store as it opens for Boxing Day sales in central London, Monday, Dec. 26, 2011. Despite disruptions caused by London's subway drivers striking over a pay dispute, large crowds of shoppers started flooding department stores in London as soon as doors opened early Monday. (AP Photo/Lefteris Pitarakis)

People rush into a department store as it opens for Boxing Day sales in central London, Monday, Dec. 26, 2011. Despite disruptions caused by London's subway drivers striking over a pay dispute, large crowds of shoppers started flooding department stores in London as soon as doors opened early Monday. (AP Photo/Lefteris Pitarakis)

People crowd into a department store as it opens for Boxing Day sales in central London, Monday, Dec. 26, 2011. Despite disruptions caused by London's subway drivers striking over a pay dispute, large crowds of shoppers started flooding department stores in London as soon as doors opened early Monday. (AP Photo/Lefteris Pitarakis)

People queue early in the morning outside a department store ahead of it opening for Boxing Day sales in central London, Monday, Dec. 26, 2011. Despite disruptions caused by London's subway drivers striking over a pay dispute, large crowds of shoppers started flooding department stores in London as soon as doors opened early Monday. (AP Photo/Lefteris Pitarakis)

People rush into a department store as it opens for Boxing Day sales in central London, Monday, Dec. 26, 2011. Despite disruptions caused by London's subway drivers striking over a pay dispute, large crowds of shoppers started flooding department stores in London as soon as doors opened early Monday. (AP Photo/Lefteris Pitarakis)

Underground trains are parked during a 24-hour strike by train drivers over public holiday pay, at Mordern depot, south London, Monday, Dec. 26, 2011. (AP Photo/Sang Tan)

LONDON (AP) ? London's subway drivers walked out over a pay dispute Monday, causing trouble for thousands of shoppers out to take advantage of traditional Boxing Day sales.

Transport for London warned that shoppers seeking bargains in the capital's shopping centers face "significant disruption." Several subway lines have been suspended, and limited services are operating on the rest of the network.

The ASLEF union is staging the one-day strike to demand extra pay as well as a day off for members working on the public holiday.

The London Underground ? the organization that manages the subway system ? condemned the move, saying it was pointless and demonstrated "a complete disregard for our customers." Authorities said extra buses are running in the main shopping areas to cater to the increased flow of travelers on one of the year's busiest shopping days.

Despite the disruptions, large crowds of shoppers ? some lining up from midnight ? started flooding department stores in London and other British cities as soon as doors opened early Monday.

Selfridges, one of Britain's most popular department stores, reported its biggest ever first hour of trading Monday morning.

In northwest London, the Brent Cross shopping center said that 10,000 people had piled through its doors within an hour of opening.

The ASLEF union plans to stage three more strikes in January and February if the dispute is not resolved.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2011-12-26-EU-Britain-Subway-Strike/id-e3c0845bf3c14034a440d6e4e1f6a567

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How Your House Works: Fireplace

December 23, 2011 6:30 AM

Classic brick-and-mortar fireplaces aren't exactly hot these days, according to Joe LaVecchia of New Jersey's Abbey Hart Brick & Stone. "We used to sell a million firebricks a year in the 1970s," he says. "Now it's more like eighty or a hundred thousand."

It's not that the hearth's allure has been extinguished?it's a cost issue. Between the prerequisite concrete foundation and a mason to do the job, a traditional fireplace can cost $10,000 to $15,000 to install. Then there's efficiency. Typical fireplaces draw and vent interior air that a homeowner pays to heat with a furnace. The image of dollar signs streaming out of a chimney comes to mind.

The most common alternative today is the fuel-efficient, direct-vent gas fireplace. Carpenters can install the prefab firebox, which costs a fraction of a traditional fireplace. Still, nothing duplicates a crackling hearth. The old flame?fascinating and elemental?dies hard.

CHIMNEYS: THE INSIDE STORY

1. FLUE Smoke rises through ceramic flue liners in about 95 percent of brick chimneys, Tyler McClave of flue-maker Superior Clay says. Round models span 3 to 36 inches in diameter; rectangular flues get as big as 24 x 24. But a 12 x 12 square is typical, and two flues often run side by side in a single chimney.

2. SMOKE SHELF Wood smoke rises from the firebox and collects along the smoke shelf, a horizontal termination that prevents smoke from traveling downward from the chimney and into the house. Located about 8 inches above the top of the firebox, the shelf? has a concave surface that collects rainwater and debris.

3. DAMPER The metal door atop the firebox closes when the fireplace is dormant to seal the drafty chimney from the home interior. It's not a perfect seal, McClave says, because a refrigerator-style rubber gasket can't last in intense heat. Common-sense note: Never light a fire with the damper closed.

4. FIREBRICK Also known as refractory brick, firebrick has an inherent ability to expand and contract with rapid heating and cooling. Face brick, which clads chimneys, cracks and fails when used to line a firebox.

Source: http://www.popularmechanics.com/home/improvement/interior/how-your-house-works-fireplace?src=rss

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Finland ?finds Patriot missiles? on China-bound ship: Will the US Media notice?

BBC

Comment by Jim Campbell

In what would seem to be a career making story apparently the US media. Go ahead Google it, not important because it would reflect just how horribly this administration is run and what a total incompetent Obama actually is.

Apparently those that want to control out thoughts don?t want us to know about the insignificance of this mishap or shall we call it a ?Man made overseas disaster???

When you give it serious thought, what?s 69 missing Patriot missiles on the ship and around 160 tons of explosives among friends?

That?s my story and I?m sticking to it, I?m J.C. and I approve this message.

The Thor Liberty is docked in Kotka

The Finnish authorities have impounded an Isle of Man-flagged ship bound for China with undeclared missiles and explosives, officials say.

The MS Thor Liberty left port in Emden, northern Germany, on 13 December and docked two days later in Kotka, southern Finland, to pick up a cargo of anchor chains, said Finnish Customs spokesman Petri Lounatmaa.

Patriot missile systems are supplied to US allies

It was bound for the Chinese port of Shanghai but there was no indication for whom the military cargo was destined.

Routine checks by Finland?s traffic safety authority revealed a load of up to 160 tonnes of improperly packed nitroguanidine, a low-sensitivity explosive with a high detonation speed.

?Actually in our investigation at the moment, we have got the information that we found 69 Patriot missiles on the ship and around 160 tonnes of explosives,? said Detective Superintendent Timo Virtanen from the Finnish National Bureau of Investigation.

Interior Minister Rasanen said she had not heard of a similar case.

?Of course, there are legal transports of weapons or defence material [through Finland] but in this case the cargo was marked as containing fireworks,? she told Finnish media. ?That is quite unusual.?

Mr Lounatmaa said customs officials and police had launched a joint investigation into a possible breach of Finnish export and weapons trading laws.

He said that the crew of about 32 were being questioned.

Patriot missiles, designed by the US company Raytheon, are supplied to ?US and allied forces?, according to the company?s website. South Korea is among states which deploy them.

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Source: http://dancingczars.wordpress.com/2011/12/24/finland-finds-patriot-missiles-on-china-bound-ship-will-the-us-media-notice/

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4 out of 5 Australians Worry about Debt; New Reality - Owing More on Your Home Than You Own; Shocking Year for Corporate Collapses ; Merry Christmas to Those Down Under (935061)

Merry Christmas to all my Australian readers. Here is an economic roundup, with many links sent from Australian readers over the past couple weeks, especially Tony the "Brisbane Bear".

Boxing Day Sale Before Christmas

Boxing Day is traditionally the day after Christmas. Not this year, at least for all retailers.

Tony Writes ... "Talk about desperation! We are now having the traditional Boxing day sales before Christmas. This will not make any difference in the longer run as everyone is now so accustomed to deals that any retailer who doesn't offer substantial discounts won't get any business. It is a whole new paradigm in retail that will eventually spread to all sectors. Businesses with high fixed costs will go broke in droves."

Please consider Myer brings forward online 'Boxing Day' sale

December 23, 2011
The annual Boxing Day sales need a new name, it seems.

This year retail giant Myer will launch its annual post-Christmas shopping bonanza two days early, on Christmas Eve, for online customers.

Myer spokesman Steven Carey said more than 1100 new items would be available for purchase on the Myer website from 6pm tomorrow - the first time the company had launched its stocktake sale early online.

While some customers were expected to stick to the annual tradition of queueing outside stores on Monday to snap up a bargain, Mr Carey said more and more people were choosing to shop from the comfort of their own home.

??We?ve got to cater to both the online and the bricks-and-mortar customer,?? Mr Carey said.

It comes as electronics giant Harvey Norman, which has long complained about the rise of international online shopping, began selling computer games this week via a website in Ireland that lets Australian consumers avoid GST.

Chairman Gerry Harvey said the company had launched the initiative reluctantly. "We are not doing this with a great deal of joy. We have been able to do this for a long time, we have held off," he said. "But you get to a point where you can?t hold off."

Mr Carey said if Myer?s online experiment this year was successful, it could become an annual event.

Treasurer Swan takes a potshot at 'whinger' Retailer Gerry Harvey

Tony writes ..."The Treasurer and our biggest retailer are having a slanging match right on Christmas. The party is over and everyone is getting very, very agitated as they try to deal with the new reality."

Please consider Swan takes a potshot at 'whinger' Gerry Harvey

December 23, 2011
Treasurer Wayne Swan says it's just not Christmas if retailer Gerry Harvey isn't whingeing about soft sales.

The co-founder of Harvey Norman has been highly critical of the rise of international online shopping, which he says is threatening Australian jobs and businesses.

Mr Swan defended the GST threshold on goods bought offshore, saying a Productivity Commission report into the issue found it wasn't the cause of retailers' woes.

"I can't remember a Christmas where Gerry Harvey wasn't whingeing," he told ABC Radio today.

"Back when we put the original stimulus package in place he spent a lot of time whingeing about that, but ultimately it did lift consumption in Australia."

Mr Harvey responded, saying he wasn't a whinger and just wanted to protect the whole retail sector, not only his business.

"To call me a whinger when you are poll-driven, that's just an illusion," he told ABC Radio.

He told Mr Swan: "I've been telling you and your government for a long time ... you have a major problem: the GST. You thought it was more important to think about the votes you were going to get."

Retailers Rocked as Debt Crisis Spreads

Tony writes ... "Hi Mish. I have been saying for ages that we have cost structures set to boom time conditions with no way of lowering costs.

Panic is setting in. Prominent broker Charlie Aitken has warned that the industry has a cost base tailored for a boom year such as 2007, when volumes are more in line with 2002."

Please consider Retailers rocked as debt crisis spreads

December 20, 2011
THE nation's shoppers have firmly closed their wallets amid fears of a full-blown debt contagion in Europe, while Billabong shares were smashed by 44 per cent yesterday after the iconic surfwear company released a shock profit downgrade.

The Billabong malaise extended to other discretionary retail stocks such as David Jones and JB Hi-Fi, as more than $30 billion was shed from the value of local equities.

4 out of 5 Australians Worry about Debt

The Sydney Morning Herald reports Most Australians worried about debt

December 19, 2011
Four out of five Australians are worried about their ability to meet future debt repayments, a survey shows.

The biannual survey by data intelligence company Veda, found 82 per cent were worried about their ability to meet debt repayments in the future, up from 75 per cent a year ago.

The survey also found that one in five Australians was struggling to repay their current credit commitments.

However, about 29 per cent of this sub group were considering applying for more credit in the next six months, the survey found.

"It is concerning that there are people struggling with their current debt levels but are turning to more credit as the answer, potentially edging closer to a debt spiral," Veda senior adviser Matthew Strassbourg said in a statement.

Here is a stat straight from the Twilight Zone: 82% are concerned about debt yet 29% of those worried want more credit.

New Reality - Owing More Than You Own

The Age reports on the "New Reality" Owing More on Your Home Than You Own

Rising property values have been an article of faith in the housing market for a generation of Australians who borrowed big as real estate prices marched ever upward.

While the percentage of home owners with so-called negative equity remains tiny - about one in fifty of the 3 million households with mortgages - the number may well swell in 2012 if home prices extend their declines as some analysts expect.

The emergence of a sector of the housing market ??under water?? on their mortgages may hurt an already fragile real estate market. Any forced sales would obviously dent individual household wealth but further drops in home prices would deter investors from buying residential properties.

Tony writes "Hey Mish, Negative equity is a new buzz word slowly entering the lexicon."

Yes indeed. For starters, I highly doubt that only 1-in-50 are underwater. Regardless, I expect that number to be 40-in-50 of those who bought or did a substantial cash-out refi in the last four years. I do not know what percentage that is, but I do know it is far more than 2%.

Shocking Year for Corporate Collapses

Tony comments "Hey Mish, panic is setting in as retail chains go broke daily. The banks are warning that next year will be very tough. It is a vicious cycle and it is gathering speed as panic spreads and people stop spending"

SmartCompany reports Tools chain Glenfords placed in voluntary administration

The shocking year for Australian corporate collapses has continued, with discount tools chain Glenfords now up for sale after being placed in voluntary administration last week.

The sale of the chain comes as the do-it-yourself sector has reached a major transformation point, with market leading hardware chain Bunnings now battling the Woolworths-backed Masters chain.

Analysts have said mid-tier and smaller operators will slowly be pushed out of the market as Bunnings and Masters stores dominate areas once controlled by SMEs.

The construction industry has been one of the worst hit this year ? it suffers the highest number of insolvency appointments out of any sector. Glenfords has likely suffered alongside that drop in demand.

Talent Two and Billabong Shares Smashed

Tony writes ... "The interesting downgrade was Talent2, these guys have been very successful for a long time but it seems white collar jobs are drying up fast"

The Australian reports No 'ho ho' from Billabong, Talent Two

December 19, 2011
THERE'S no ho ho ho on the bourse today, as hopes for a consumer-led recovery evaporate as quickly as snow on an outback nativity set.

Talent Two and Billabong -- smashed by 50 per cent and 37 per cent respectively -- tell two parts of the dismal story.

Talent Two, a leading recruiter, reported current-half earnings wouldn't come within cooee of expectations because of reduced hiring caused by ?fears of European contagion and the volatility of financial markets?.

Talent Two's full-year EBITDA is expected to come in at less than half the expected $30m or so, but the shares probably received an extra dollop of punishment because the ?market update? was issued at beer-o-clock on Friday.

Talent Two focuses on white-collar hiring, especially in the financial services sector where fearful workers rue their lack of skill at driving mining earthmovers or sealing S bends with O rings. It doesn't take a (still employed) rocket scientist to work out scared workers won't be buying electronic gizmos or surfwear, hence JB Hi-Fi's surprise downgrade last week (also after market close) and the ever-erratic Billabong's shocker this morning.

Retail Malaise Spreads Like Wildfire

The Age Reports Myer to close or shrink stores as retail malaise bites

Last week, failed apparel retailer Fletcher Jones said it would close a third of its stores immediately and shed 61 staff as administrators try to revive and sell the company.

Myer stores at Tuggeranong in the Australian Capital Territory and at Forest Hill in Melbourne's east will close early next year. Others outlets will be shrunk when the shopping centres in which they operate are redeveloped.

Real estate stockbroking analysts suggested the Myer stores at Dandenong Plaza and possibly in Wollongong, south of Sydney, could also be closed.

It is not just the stores that are shrinking. Myer has already reduced the range of white goods, electrical items, DVDs and CDs it offers, and is also reducing the number and range of location devices such as GPSs in response to changed sales conditions.

Harvey Norman is following suit, shrinking the space devoted to electrical goods in response to a plummet in prices, which means the retailer has to sell many more television sets, for example, to make the same money.

Tony writes ...

Hey Mish.

Myer is probably our oldest and most respected retail department store. (I would guess Sears or Bloomingdale's would be US equivalents) they are in real trouble and are proposing closing stores and downsizing others.

Retail business models are broken (as are 1000's of other business models in various sectors) and reality is sinking in. It will be very ugly when people realise that there is literally no way out.

Wages are way, way too high and working conditions are way too generous and most all other overheads are way too costly. Throw in terrible industrial relations laws that this Socialist government has introduced and you have a recipe for disaster.

Spotlight on Australia

For those who think Australia can do no wrong and Australia is the place to be, need to take another look at Australian housing, Australian retail, and also the slowdown in China.

I contend things are going to get very nasty for those down under.?

Thanks for the Links - Merry Christmas

I get links from "Brisbane Bear" nearly every day and links from Bran in Spain nearly every day.

Indeed, I get links from all over the world every day and I appreciate them. Sometimes they stack up like this before I use them and sometimes I never use them. But I do appreciate them regardless.

Many times I get 30 or more emails on a story gone viral. I Typically do not respond to such articles or use them.

If you do send a link, my most common response is simply "thanks". I get hundreds of emails a day and often cannot say much more than that.

If I never respond (not once, but repetitively), I cannot use the stories you send, you are consistently late, or I have already seen them. Most often I will not use or respond to conspiracy theories.

Finally, to those who email every day, please note I may say "thanks" only occasionally.

Merry Christmas Australia (they are nearly day ahead of Chicago), and to everyone else too!

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Disclaimer:The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.

Source: http://feedproxy.google.com/~r/MishsGlobalEconomicTrendAnalysis/~3/OJiuv9-ZdzU/4-out-of-5-australians-worry-about-debt.html

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CHPsouthern: Welcome LAPD to twitter @911LAPD -The Official Twitter feed of Communications Division of the Los Angeles Police Department

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Welcome LAPD to twitter @911LAPD -The Official Twitter feed of Communications Division of the Los Angeles Police Department Il y a environ 6 heures via HootSuite Retweeted by 13 people

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KB Home 4Q net income falls but tops Street's view (AP)

LOS ANGELES ? KB Home is increasingly catering to more affluent homebuyers in markets where there is less competition from homes up for resale and foreclosures, and the strategy is paying off.

The homebuilder reported on Wednesday that its fiscal fourth-quarter profit fell 20 percent on rising expenses. Its shares fell 52 cents, or 6.7 percent, to $7.22 in afternoon trading as broader markets also slumped.

But the company's recent trends show improvement. KB's new home orders jumped 38 percent from year earlier and home deliveries rose 4 percent. The average selling price of the builder's homes rose 3 percent.

The surge in home orders drove a 61 percent increase in KB's backlog of homes under contract at the end of the quarter ? at 2,156, the highest year-end level since 2008. Backlog is a leading indicator of potential home deliveries and revenue for homebuilders.

"We have a lot of things going for us that we haven't had in years, and it starts with the backlog," President and CEO Jeffrey Mezger said.

The backlog sets KB Home up for a strong start heading into the seasonally slow winter months. Spring is traditionally the peak period for home sales.

Company executives forecast that KB will deliver more homes at higher prices next year than in 2011, as it opens more communities in markets along the California coast and elsewhere that draw wealthier homebuyers.

Mezger expressed optimism that the company has laid the foundation to improve next year, even as the housing market remains hampered by high unemployment, tighter mortgage lending standards and uncertainty over the economy.

"While the challenges of the market certainly remain the same, we're in a very different business as we enter 2012," Mezger said.

Homebuilders' sales have improved this fall against relatively easy-to-beat sales benchmarks in the second half of 2010. That was the worst year for new home sales in half a century.

Sales of new homes climbed nationally in October and September after declining from May through August, as builders cut prices because of depressed demand. Figures on new home sales for November are due out on Friday.

ITG Investment Research Chief Economist Steve Blitz said KB Home's sales trends bolster his view that the housing market has at least bottomed and is headed for a better 2012.

Recent housing data also have been positive.

An industry survey released on Monday showed builders are more optimistic than at any time since May 2010. On Tuesday, the government reported that builders in November broke ground on homes and apartments at an annual rate of 685,000. That's an increase of 9.3 percent from October and the fastest pace since April 2010, the last month a tax credit aimed at spurring home sales was still in effect.

KB Home, which is based in Los Angeles, was ranked the fifth-largest homebuilder in the nation last year, by closings.

The company still caters primarily to first-time homebuyers, who are purchasing 65 percent of the company's houses.

"But it's a high-income first-time buyer," Mezger said. "That's what's different for us now."

KB reported that it earned $13.9 million, or 18 cents per share, for the three months ended Nov. 30. That compares with $17.4 million, or 23 cents per share, a year earlier.

The results beat the 4 cents per share that analysts polled by FactSet expected. It was the company's first net profit in 2011.

Quarterly selling, general and administrative expenses climbed 36 percent to $75.6 million.

Revenue rose 6 percent to $479.9 million from $451 million, topping Wall Street's $467.9 million forecast.

Home deliveries increased to 1,995, while average selling price rose to $238,400 compared with $232,500 in the prior-year period.

Fourth-quarter net orders climbed to 1,494 from 1,085.

For the full year, KB Home lost $178.8 million, or $2.32 per share, compared with a loss of $69.4 million, or 90 cents per share, in the previous year.

Annual revenue slipped 17 percent to $1.32 billion from $1.59 billion.

Net orders rose to 6,632 from 6,556, which was the first rise in full-year net orders in two years.

KB ended the September-to-November quarter with an 11 percent increase in open communities. It is looking to open 25 new communities in the first half of 2012.

Source: http://us.rd.yahoo.com/dailynews/rss/earnings/*http%3A//news.yahoo.com/s/ap/20111221/ap_on_bi_ge/us_earns_kb_home

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Senate GOP is scrambling to anoint a new leader (Star Tribune)

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Do our medicines boost pathogens?

ScienceDaily (Dec. 21, 2011) ? Scientists of the Institute of Tropical Medicine (ITG) discovered a parasite that not only had developed resistance against a common medicine, but at the same time had become better in withstanding the human immune system. With some exaggeration: medical practice helped in developing a superbug. For it appears the battle against the drug also armed the bug better against its host.

"To our knowledge it is the first time such a doubly armed organism appears in nature," says researcher Manu Vanaerschot, who obtained a PhD for his detective work at ITG and Antwerp University. "It certainly makes you think."

Vanaerschot studies the Leishmania parasite, a unicellular organism that has amazed scientists before. Leishmania is an expert in adaptation to different environments, and the only known organism in nature disregarding a basic rule of biology: that chromosomes ought to come in pairs. (The latter was also discovered by ITG-scientists recently.) The parasite causes leishmaniasis, one of the most important parasitic diseases after malaria. It hits some two million people, in 88 countries -- including European ones -- and yearly kills fifty thousand of them. The parasite is transmitted by the bite of a sand fly. The combined resistance against a medicine and the human immune system emerged in Leishmania donovani, the species causing the deadly form of the disease.

On the Indian subcontinent, where most cases occur, the disease was treated for decades with antimony compounds. As was to be expected, the parasite adapted to the constant drug pressure, and evolved into a form resisting the antimonials. In 2006 the treatment was switched to another medicine, because two patients out of three did not respond to the treatment. The antimonials closely work together with the human immune system to kill the parasite. This probably has given Leishmania donovani the opportunity to arm itself against both. It not only became resistant against the drug, but also resists better to the macrophages of its host. Macrophages are important cells of our immune system.

There is no absolute proof yet (among other things, because one obviously cannot experiment on humans) but everything suggests that resistant Leishmania not only survive better in humans -- have a higher "fitness" -- but also are better at making people ill -- have a higher "virulence" -- than their non-resistant counterparts.

Superbug?

It is the first time that science finds an organism that always benefits from its resistance. Normally resistance is only useful when a pathogen is bombarded by drugs; the rest of the time it is detrimental to the organism.

Resistant organisms are a real problem to medicine. More and more pathogens become resistant to our drugs and antibiotics -- to a large extend because you and I use them too lavishly and improperly. For several microbes, the arsenal of available drugs and antibiotics has so diminished that people may die again from pneumonia, or even from ulcerating wounds. Luckily for us, resistance helps pathogens only in a drug-filled environment. In the open field their resistance is a disadvantage to them, because they have to invest energy and resources into a property with no use there. Just like a suit of armour is quite useful on the battle field, but a real nuisance the rest of the time.

So the propagation of resistant organisms is substantially slowed down because they are at a disadvantage outside of sick rooms. But this rule, too, is violated by Leishmania: even in absence of the drug, the resistant parasite survives better, instead of worse, and it is more virulent than a non-resistant parasite.

Did our medicines create a superbug? A legitimate question, and the phenomenon has to be investigated, but this sole case doesn't imply we better stop developing new medicines (as a matter of fact, the antimony-resistant Leishmania are still susceptible to a more recent drug, miltefosine). On the contrary, we should develop more new drugs, to give new answers to the adaptive strategies of pathogens, and we should protect those drugs, for instance by using them in combination therapies. In this never-ending arms race we should use our drugs wisely, to minimise the chances for pathogens to develop resistance.

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Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://www.sciencedaily.com/releases/2011/12/111221091727.htm

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Man dies in gun battle with LAPD in Pico-Union area

A man who police said fired at them in the Pico-Union area was killed Wednesday night in a gun battle with officers.

The shooting occurred shortly after 7 p.m. when officers began following a vehicle reported stolen from Long Beach, the Los Angeles Police Department said.

As the vehicle neared Washington Boulevard and Vermont Avenue, it struck a van. A man in his 20s exited the first vehicle with a revolver and began firing at officers, police said.

The bullets struck at least two police cruisers, Officer Norma Eisenman said. Officers returned fire and hit the man.

The man was taken to a hospital, where he was pronounced dead. No officers were injured.

Late Wednesday, investigators were at the scene gathering evidence. The revolver was recovered from the scene, police said. No other details were immediately available.

Map shows location where shooting took place. Credit: Google Maps

Source: http://latimesblogs.latimes.com/lanow/2011/12/man-dies-gun-battle-with-lapd.html

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Video: RIMM Spikes on Takeover Talks

A rare up day for Research in Motion on reports, Amazon, Microsoft, and Nokia have considered bidding on the company. Scott Sutherland, Wedbush Securities weighs in on the news surrounding the company.

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Business & financial news headlines from msnbc.com

Source: http://video.msnbc.msn.com/cnbc/45755163/

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Video: The Case of the Missing D.A., Part 4

Dateline NBC

'Dateline NBC,' the signature broadcast for NBC News in primetime, premiered in 1992. Since then, it has been pioneering a new approach to primetime news programming. The multi-night franchise, supplemented by frequent specials, allows NBC to consistently and comprehensively present the highest-quality reporting, investigative features, breaking news coverage and newsmaker profiles.

Source: http://www.msnbc.msn.com/id/3032600/vp/45700806#45700806

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Automotive Services Manger Instruction Operation

by mike on December 16, 2011

Automobiles necessitate normal routine maintenance and repairs. A mechanic does the physical operate on the vehicle, but the services manager makes sure the dealerships services department is nicely run and managed. Automotive services manger preparation involves many years. The manager necessities skillsets gleaned from operate practical knowledge, education and learning, vocational preparation, and certifications in the automotive subject.

Service professionals are usually employed at a car dealership or possibly a vehicle services operation. Budgeting has become the chief duties for the manager. There?re billed with establishing the functioning funds, but in addition making sure the department stays in the funds parameters. They?ve to produce absolutely sure fees continue being inside of their projected expectations. They also really need to set the aims in regards to earnings. Top quality assurance and therefore the superior moral standards for the operation also fall below their purview. The manager is answerable for employing and supervising workers, in particular mechanics and technicians. It is really essential the manager be sure all workers are updated in their preparation and relevant skillsets. This insures that buyers are obtaining the ideal services likely. They oversee everything that occurs in the services department of the automotive dealership.

Each the services manager and typical manager try for the highest CSI or the Consumer Satisfaction Index. Decent customer satisfaction is definitely the hallmark of the services department. These skillsets are an essential element of the professionals preparation.

An ever-increasing quantity of persons who are associated with an automotive services manger preparation plan have an associate?s or bachelor?s degree from a school or university. Recommended concentrations are in personal computers, automotive technology, electronics, mathematics, and business. Education may be accomplished at a technical school, neighborhood school, or because of a certification program.

You?ll find a large quantity of academies and vocational educational institutions that offer certifications in automotive services, a lot of of which could be an asset to a services manager. Dealerships value different amounts of education and learning, preparation, and practical knowledge when deciding on a manager. Schooling and practical knowledge are similarly essential in the manager?s preparation and planning.

The National Institute for Automotive Service Excellence supplies several expert certifications that raise an applicant?s qualifications. A well-qualified manager should have these certifications. A number of services professionals already have ASE Service Consultant certification prior to beginning their automotive services manger preparation. Possessing this type of certification exhibits a reliable knowledge of how you can accomplish vehicle restore and routine maintenance.

Technical knowledge is important for the manager?s role in regards to fine quality assurance. They must know how http://www.ohcash.com/?p=9 the operate is most desirable done and issues diagnosed, with the intention to be capable to overview and appraise the operate of technicians and mechanics. 10 to fifteen many years of practical knowledge in the subject of automotive technology and mechanics prior to turning out to be a services manager is definitely an marketplace expectation.

Source: http://www.londonsportscouncil.org/general/automotive-services-manger-instruction-operation/

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Calif. crews inspect road damage after tanker fire (Providence Journal)

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Turkey slams France over genocide bill

Turkish Prime Minister Recep Tayyip Erdogan, center, and Chief of Staff Gen. Necdet Ozel speak during a ceremony at the mausoleum of Turkey's founder Mustafa Kemal Ataturk in Ankara, Turkey, Thursday, Dec. 15, 2011. Erdogan returned to the capital Ankara to attend a High Military Council meeting after spending three weeks in Istanbul recovering from a surgery.(AP Photo/Burhan Ozbilici)

Turkish Prime Minister Recep Tayyip Erdogan, center, and Chief of Staff Gen. Necdet Ozel speak during a ceremony at the mausoleum of Turkey's founder Mustafa Kemal Ataturk in Ankara, Turkey, Thursday, Dec. 15, 2011. Erdogan returned to the capital Ankara to attend a High Military Council meeting after spending three weeks in Istanbul recovering from a surgery.(AP Photo/Burhan Ozbilici)

ANKARA, Turkey (AP) ? Turkey's prime minister on Saturday sharply criticized France for a bill that would make it a crime to deny the World War I-era mass killing of Armenians was genocide.

Saying France should investigate what he said was its own "dirty and bloody history" in Algeria and Rwanda, Recep Tayyip Erdogan insisted Turkey would respond "through all kinds of diplomatic means."

Historians estimate that up to 1.5 million Armenians were killed by Ottoman Turks as their Empire collapsed, an event many international experts regard as genocide and that France recognized as such in 2001. Turkish leaders reject the term, arguing that the toll is inflated, that there were deaths on both sides and that those killed were victims of civil war and unrest.

On Dec. 22, the lower house of French Parliament will debate a proposal that would make denying that the massacre was genocide punishable by up to a year in prison and euro45,000 ($58,500) in fines, putting it on par with Holocaust denial, which was banned in the country in 1990.

Erdogan lashed out at France during a joint news conference with Mustafa Abdul-Jalil ? the chairman of Libya's National Transitional Council ? saying there were reports that France was responsible for the deaths of 45,000 people in Algeria in 1945 and for the massacre of up to 800,000 people in Rwanda in 1994.

"No historian, no politician can see genocide in our history," Erdogan said. "Those who do want to see genocide should turn around and look at their own dirty and bloody history."

"The French National Assembly should shed light on Algeria, it should shed light on Rwanda," he said, in his first news conference since recovering from surgery three weeks ago.

France had troops in Rwanda, and Rwandan President Paul Kagame has accused the country of doing little to stop the country's genocide.

There was no immediate reaction from France. Ties between the two countries are already strained by French President Nicolas Sarkozy's opposition to Turkey's bid to join the European Union.

Erdogan's criticism comes a day after an official said the Turkish leader had written to Sarkozy warning of grave consequences if the Armenian genocide bill is adopted. A Turkish diplomat said Turkey would withdraw its ambassador to France is the law is passed.

"I hope that the (French Parliament) steps back from the error of misrepresenting history and of punishing those who deny the historic lies," Erdogan said. "Turkey will stand against this intentional, malicious, unjust and illegal attempt through all kinds of diplomatic means."

Erdogan called the proposed bill a "populist" act, suggesting it was aimed at winning the votes of Armenian-French in elections in France next year.

A Turkish parliamentary delegation is scheduled to travel to France on Sunday to lobby French legislators against the bill.

Turkey has long argued that parliaments should not be left the task of deciding whether the killings constituted genocide, insisting on the creation of a joint independent committee of historians to look into the events that started in 1915.

Several countries have recognized the killings as genocide, including Uruguay, Chile, Argentina, Russia, Canada, Lebanon, Belgium, Greece, Italy, the Vatican, Switzerland, Slovakia, the Netherlands, Poland, Lithuania and Cyprus.

In 2007, a Swiss court convicted a Turkish politician under its anti-racism law and fined him for denying that the killings of Armenians was genocide. The case caused diplomatic tensions between Switzerland and Turkey.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2011-12-17-EU-Turkey-France-Genocide/id-3a64d2cbd926409db0e73931563a7acf

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