Thursday, January 19, 2012

Analysts mull impact of accident on cruise sector (AP)

NEW YORK ? Shares of cruise operators declined on Tuesday, with analysts questioning whether the capsizing of a Carnival Corp. vessel would hurt travel demand just at the start of the important bookings season.

The Friday night capsizing of the Costa Concordia off a Tuscan island has left at least 11 people dead, according to the latest reports on Tuesday.

Miami-based Carnival Corp., which owns the Italian operator, estimated that preliminary losses from having the Concordia out of operation at least through 2012 would be between $85 million and $95 million, along with other costs.

Greg Badishkanian of Citi Investment Research said in a client note that the accident could be an overhang on shares of Carnival and rival Royal Caribbean Cruises Ltd., as it took place during the cruise industry's busiest booking period of January through March, commonly known as wave season.

Badishkanian said that cruise booking volumes likely fell 6 percent to 10 percent over the past few days but stressed that the decline is within normal day-to-day volatility.

Pricing is still firm and there has been no material increase in cancellations, he added, "which means there is no major passenger fear of cruising thus far."

But Badishkanian says that negative press surrounding the capsizing is not helping, as pictures and videos are more graphic and widespread than previous cruise incidents.

"The media coverage could also be prolonged as the 100-year anniversary of the Titanic is in three months," he added.

In two separate reports, Susquehanna Financial Group's Rachael Rothman lowered the ratings of Carnival and Royal Caribbean, also based in Miami, to "Neutral" from "Positive." She also reduced Carnival's price target to $29 from $40 and cut Royal Caribbean's price target to $26 from $39.

The analyst said that the bad press will probably "be a severe headwind to bookings in the months ahead," adding that wave season can make up close to about 35 percent of annual bookings.

Carnival's stock slid $4.68, or 13.7 percent, to close at $29.60, its lowest point since last October. The stock is trading at the low end of its 52-week range of $28.52 to $48.13. Shares of Royal Caribbean fell $1.78, or 6.2 percent, to $26.97.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20120117/ap_on_bi_ge/us_cruise_industry_stocks

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Nominate your favorite gadgets for the 2011 Engadget Awards!


Welcome to the 2011 Engadget Awards! This year we've got 15 categories up for grabs, with 30 total awards to be decided. All finalists for Engadget Awards are reader-nominated, and the editors of Engadget will then select the best of those nominations (usually somewhere between 4-6 devices) as finalists. There are two awards per category: Readers' Choice (voted on by you!), and Editors' Choice (selected by us). The vote will take place in a few weeks once the nominees are picked, and winners will be announced shortly thereafter.

Submit your favorite devices for consideration using the form just past the break, and feel free to elaborate in the comments. You don't need to fill in every field, but you are required to answer at least one question in order for your form to be processed. You've got until 11:59PM ET on Wednesday, February 1st, 2012 to get your entries in. Now, go nominate!

Continue reading Nominate your favorite gadgets for the 2011 Engadget Awards!

Nominate your favorite gadgets for the 2011 Engadget Awards! originally appeared on Engadget on Wed, 18 Jan 2012 12:00:00 EDT. Please see our terms for use of feeds.

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Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/4skG-SN4VMo/

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Wednesday, January 18, 2012

World Bank tells poorer nations to brace for slowdown (Reuters)

WASHINGTON (Reuters) -

The World Bank warned on Tuesday that developing countries should brace for a growth slowdown stemming partly from Europe's debt woes, as it sharply scaled back its estimates for expansion.

"Europe appears to have entered recession, and growth in several major developing countries (Brazil, India and to a lesser extent Russia, South Africa and Turkey) has slowed," the bank said as it updated forecasts made last June.

It predicted the global economy will expand by 2.5 percent in 2012 and by 3.1 percent in 2013, well behind the 3.6 percent growth for each year that the bank had projected in June.

Developing countries' economies will continue to outpace those of richer, developed countries but the World Bank also lowered its forecasts for growth in these countries to 5.4 percent in 2012 and 6 percent in 2013.

That was down from previous estimates of 6.2 percent and 6.3 percent respectively for growth in developing countries.

As well, the World Bank foresees rising threats to growth.

"The downturn in Europe and weaker growth in developing countries raises the risk that the two developments reinforce one another, resulting in an even weaker outcome," it said.

It also cited failure so far to resolve high debts and deficits in Japan and the United States and slow growth in other high-income countries, and cautioned those could trigger sudden shocks.

On top of that, political tensions in the Middle East and North Africa could disrupt oil supplies and add another blow to global prospects, the World Bank said in a sobering assessment of the challenges facing the economy. It said that while Europe was moving toward a long-term solution to its debt problems, markets remain skittish.

"While contained for the moment, the risk of a much broader freezing up of capital markets and a global crisis similar in magnitude to the Lehman crisis remains," the World Bank said, referring to the U.S. investment bank that went bankrupt in 2008 and helped intensify a global financial crisis.

On balance, the World Bank said global economic conditions were "fragile and there remains great uncertainty as to how markets will evolve over the medium term."

Against that backdrop, it said developing countries were even more vulnerable than they were in 2008 because they could find themselves facing reduced capital flows and softer trade. In addition, many developing countries have weaker finances and wouldn't be able to respond to a new crisis as vigorously.

The World Bank pointed out that since last August risk aversion to Europe has shot up and "changed the game" for developing countries that have seen their borrowing costs escalate sharply and the flow of capital to them decrease.

"No country and no region will escape the consequences of a serious downturn," the World Bank said, adding that now was the time for developing countries to plan how to soften the impact of a potential deep crisis.

High-income countries have prime responsibility for preventing a crisis, the World Bank said, but "developing countries have an obligation to support that process both through the G20 (Group of 20 rich and developing countries) and other international fora."

Among other things, developing countries "could help by avoiding entering into trade disputes and by allowing market prices to move freely."

It also said developing-country government should start contingency planning to identify spending priorities and to try to shore up safety net programs. Those contingencies should take into account possible drops in commodity prices and a fall in capital inflows, the World Bank said.

(Reporting By Glenn Somerville; Editing by Chizu Nomiyama)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20120118/bs_nm/us_worldbank_outlook

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Project to pour water into volcano to make power (AP)

Geothermal energy developers plan to pump 24 million gallons of water into the side of a dormant volcano in Central Oregon this summer to demonstrate new technology they hope will give a boost to a green energy sector that has yet to live up to its promise.

They hope the water comes back to the surface fast enough and hot enough to create cheap, clean electricity that isn't dependent on sunny skies or stiff breezes ? without shaking the earth and rattling the nerves of nearby residents.

Renewable energy has been held back by cheap natural gas, weak demand for power and waning political concern over global warming. Efforts to use the earth's heat to generate power, known as geothermal energy, have been further hampered by technical problems and worries that tapping it can cause earthquakes.

Even so, the federal government, Google and other investors are interested enough to bet $43 million on the Oregon project. They are helping AltaRock Energy, Inc. of Seattle and Davenport Newberry Holdings LLC of Stamford, Conn., demonstrate whether the next level in geothermal power development can work on the flanks of Newberrry Volcano, located about 20 miles south of Bend, Ore.

"We know the heat is there," said Susan Petty, president of AltaRock. "The big issue is can we circulate enough water through the system to make it economic."

The heat in the earth's crust has been used to generate power for more than a century. Engineers gather hot water or steam that bubbles near the surface and use it to spin a turbine that creates electricity. Most of those areas have been exploited. The new frontier is places with hot rocks, but no cracks in the rocks or water to deliver the steam.

To tap that heat ? and grow geothermal energy from a tiny niche into an important source of green energy ? engineers are working on a new technology called Enhanced Geothermal Systems.

"To build geothermal in a big way beyond where it is now requires new technology, and that is where EGS comes in," said Steve Hickman, a research geophysicist with the U.S. Geological Survey in Menlo Park, Calif.

Wells are drilled deep into the rock and water is pumped in, creating tiny fractures in the rock, a process known as hydroshearing.

Cold water is pumped down production wells into the reservoir, and the steam is drawn out.

Hydroshearing is similar to the process known as hydraulic fracturing, used to free natural gas from shale formations. But fracking uses chemical-laden fluids, and creates huge fractures. Pumping fracking wastewater deep underground for disposal likely led to recent earthquakes in Arkansas and Ohio.

Fears persist that cracking rock deep underground through hydroshearing can also lead to damaging quakes. EGS has other problems. It is hard to create a reservoir big enough to run a commercial power plant.

Progress has been slow. Two small plants are online in France and Germany. A third in downtown Basel, Switzerland, was shut down over earthquake complaints. A project in Australia has had drilling problems.

A new international protocol is coming out at the end of this month that urges EGS developers to keep projects out of urban areas, the so-called "sanity test," said Ernie Majer, a seismologist with the Lawrence Berkeley National Laboratory. It also urges developers to be upfront with local residents so they know exactly what is going on.

AltaRock hopes to demonstrate a new technology for creating bigger reservoirs that is based on the plastic polymers used to make biodegradable cups.

It worked in existing geothermal fields. Newberry will show if it works in a brand new EGS field, and in a different kind of geology, volcanic rock, said Colin Williams, a USGS geophysicist also in Menlo Park.

The U.S. Department of Energy has given the project $21.5 million in stimulus funds. That has been matched by private investors, among them Google with $6.3 million.

Majer said the danger of a major quake at Newbery is very low. The area is a kind of seismic dead zone, with no significant faults. It is far enough from population centers to make property damage unlikely. And the layers of volcanic ash built up over millennia dampen any shaking.

But the Department of Energy will be keeping a close eye on the project, and any significant quakes would shut it down at least temporarily, he said. The agency is also monitoring EGS projects at existing geothermal fields in California, Nevada and Idaho.

"That's the $64,000 question," Majer said. "What's the biggest earthquake we can have from induced seismicity that the public can worry about."

Geologists believe Newberry Volcano was once one of the tallest peaks in the Cascades, reaching an elevation of 10,000 feet and a diameter of 20 miles. It blew its top before the last Ice Age, leaving a caldera studded with towering lava flows, two lakes, and 400 cinder cones, some 400 feet tall.

Although the volcano has not erupted in 1,300 years, hot rocks close to the surface drew exploratory wells in the 1980s.

Over 21 days, AltaRock will pour 800 gallons of water per minute into the 10,600-foot test well, already drilled, for a total of 24 million gallons. According to plan, the cold water cracks the rock. The tiny plastic particles pumped down the well seal off the cracks. Then more cold water goes in, bypassing the first tier, and cracking the rock deeper in the well. That tier is sealed off, and cold water cracks a third section. Later, the plastic melts away.

Seismic sensors produce detailed maps of the fracturing, expected to produce a reservoir of cracks starting about 6,000 feet below the surface, and extending to 11,000 feet. It would be about 3,300 feet in diameter.

The U.S. Bureau of Land Management released an environmental assessment of the Newberry project last month that does not foresee any problems that would stop it. The agency is taking public comments before making a final decision in coming months.

No power plant is proposed, but one could be operating in about 10 years, said Doug Perry, president and CEO of Davenport Newberry.

EGS is attractive because it vastly expands the potential for geothermal power, which, unlike wind and solar, produces power around the clock in any weather.

Natural geothermal resources account for about 0.3 percent of U.S. electricity production, but a 2007 Massachusetts Institute of Technology report projected EGS could bump that to 10 percent within 50 years, at prices competitive with fossil-fuels.

Few people expect that kind of timetable now. Electricity prices have fallen sharply because of low natural gas prices and weak demand brought about by the Great Recession and state efficiency programs.

But the resource is vast. A 2008 USGS assessment found EGS throughout the West, where hot rocks are closer to the surface than in the East, has the potential to produce half the country's electricity.

"The important question we need to answer now," said Williams, the USGS geophysicist who compiled the assessment, "is how geothermal fits into the renewable energy picture, and how EGS fits. How much it is going to cost, and how much is available."

Source: http://us.rd.yahoo.com/dailynews/rss/environment/*http%3A//news.yahoo.com/s/ap/20120115/ap_on_re_us/us_geothermal_volcano

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Tuesday, January 17, 2012

Jon Huntsman is Out of the Race and Moderates Are Out in the Cold (ContributorNetwork)

COMMENTARY | I guess it's true that nice guys finish last.

Apparently mudslinging, verbal attacks, petulance and double-talk win out over reason, civility and a sane tax reform plan.

I just read in the New York Times that Jon Huntsman announced he is stepping out of the race for the GOP nomination for the office of president, and will endorse rival Mitt Romney.

According to firstpost.com, Huntsman has run a campaign based on civility, with minimal focus on other candidates. Instead he has tried to build confidence in his ability to run the country based on sound ideas, experience, a tax reform plan that was endorsed by the Wall Street Journal, and diplomacy. Unfortunately, it seems that this is not what GOP voters want.

Now that Huntsman has left the race, I am certain I will have no choice but to vote for Barack Obama, regardless of whether I am happy with his presidency. It would have been excellent to have been given a choice I could feel good about.

I am amazed that although many people don't like Mitt Romney, he remains the front-runner. Is that because his vast wealth gives him an edge when it comes to campaigning? Is it because Newt Gingrich is getting nastier the lower he falls in the polls? Rick Santorum has managed to scare the gay and lesbian population, as well as many women voters. Rick Perry is still around, although I'm not sure why. The GOP will continue its relentless stumble forward to choose the candidate that appalls us the least, and with the sane candidate out of the race it will likely get very ugly.

What has happened to American voters? Why is it the candidate who refused to play dirty is out of the race? How short sighted has the American public become?

Huntsman had a fine record, a cool head and some sane solutions. All of the other GOP candidates have managed to appear tactless on more than one occasion. Gingrich is so corrupt that there is a website devoted to exposing his hypocrisy. How is it that he is still in the race and Huntsman is not?

I just don't get it. I guess I'll go back to being a good Democrat and start working for the Obama campaign.

Source: http://us.rd.yahoo.com/dailynews/rss/oped/*http%3A//news.yahoo.com/s/ac/20120116/cm_ac/10840085_jon_huntsman_is_out_of_the_race_and_moderates_are_out_in_the_cold

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Monday, January 16, 2012

Articles-now.com Great Ads: Corporate Communications Using ...

When you are looking for great ways to promote a company, you should always take every advertising form into consideration. There are a wide variety of advertising techniques that any company can utilize, but the effectiveness of most advertising strategies often differ tremendously. If you want to use an advertising technique that will surely increase the amount of buzz that exists around your company and products, you should certainly consider using corporate communications using publicity marketing and promotion strategies.

If you want to use this type of marketing for your business, you should be aware that there is truly no right or wrong way to use this type of marketing. When you are creating your marketing strategy, it is always a good idea to analyze what is working, as well as what is not working, for the other companies operating in the global economy.

Overall, this type of marketing is a wonderful way to attract both new customers, as well as existing customers, to any of the offerings your business is currently producing. Practically all customers are always interested in free offerings that may be provided by wealthy companies. For this reason, if you provide a free gift from your company, you can certainly expect to attract some attention with your free offer. You can even use popular products at your company to increase the awareness the public has for the products your company produces.

If you do not want to spend a great deal of time and money on your promotional offerings, you should be aware of the other marketing strategies that you can implement in order to increase the amount of awareness your company receives. Also, if you want to attract many customers, while still building a strong relationship with all of your customers, you may want to take advantage of the strategies that use a variety of small gifts, rather than one large gift, in the giveaway your company offers.

Any company that wishes to utilize corporate communications using publicity marketing and promotion should always take into account that the primary purpose of this form of advertising is to increase the communication that your company is maintaining with customers. A relationship with customers is more likely to increase the amount of sales a company makes compared to a company that places no emphasis on building relationships with clients.

You should also remember, if you want to utilize this type of marketing, that a free giveaway does not have to be the sole basis of your advertising. You can also communicate information or ideas through this type of advertising to greatly increase and enhance the desirability of the products your company produces.

Even though it is often considerably difficult to create a relationship with customers, you should certainly not discount the importance of this process. If you can build a relationship with customers, you will be in a great position to create a loyal relationship. When you have many loyal relationships with customers, you will be in an even better position to create a steady stream of revenue for your business. The longer you can stay in touch with the customers you are communicating with, the more likely it will be that you are creating loyal customers too. You should keep all of these factors in mind during the creation of your marketing campaign.

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Source: http://www.articles-now.com/2012/01/great-ads-corporate-communications-using-publicity-marketing-and-promotion/?utm_source=rss&utm_medium=rss&utm_campaign=great-ads-corporate-communications-using-publicity-marketing-and-promotion

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Gingrich faces tough questions at black church

Republican presidential candidate former House Speaker Newt Gingrich makes remarks during a campaign event at the Jones Memorial AME Zion Church, Saturday, Jan. 14, 2012, in Columbia, S.C. (AP Photo/Matt Rourke)

Republican presidential candidate former House Speaker Newt Gingrich makes remarks during a campaign event at the Jones Memorial AME Zion Church, Saturday, Jan. 14, 2012, in Columbia, S.C. (AP Photo/Matt Rourke)

Republican presidential candidate former House Speaker Newt Gingrich makes remarks during an event at Jones Memorial AME Zion Church, Saturday, Jan. 14, 2012, in Columbia, S.C. (AP Photo/Matt Rourke)

Republican presidential candidate former House Speaker Newt Gingrich, accompanied by his wife Callista, meets with prisoners during an event at the Jones Memorial AME Zion Church, Saturday, Jan. 14, 2012, in Columbia, S.C. (AP Photo/Matt Rourke)

Audience members listen to Republican presidential candidate former House Speaker Newt Gingrich make remarks during an event at Jones Memorial AME Zion Church, Saturday, Jan. 14, 2012, in Columbia, S.C. (AP Photo/Matt Rourke)

A patron of Tommy's Ham House touches a Greenville, S.C., newspaper sporting front page images of Republican presidential candidates, former Pennsylvania Sen. Rick Santorum and former House Speaker Newt Gingrich, as Santorum campaigns at the restaurant Saturday, Jan. 14, 2012, in Greenville, S.C. (AP Photo/Matt Rourke)

COLUMBIA, S.C. (AP) ? Presidential hopeful Newt Gingrich faced tough questions Saturday about his past statements on race and class, making a rare appearance by a Republican primary candidate before a black church ? an audience unlikely to vote in South Carolina's Jan. 21 contest.

Standing behind the lectern at Jones Memorial A.M.E. Zion Church, Gingrich was peppered with questions about his assertion that poor children lack work ethic and his criticism of President Barack Obama as a "food-stamp president."

Gingrich may get credit for spending nearly an hour in front of a largely unsupportive crowd. But the event is unlikely to help him win many votes in South Carolina's primary, a contest Gingrich himself has said will be make-or-break for his campaign.

Blacks made up just 2 percent of those who voted in South Carolina's 2008 Republican primary, according to exit polls.

While the give and take between Gingrich and more than 50 people in the audience was largely respectful, some in the crowd had sharp questions for the former House Speaker. Many centered on Gingrich's remark last month that poor children as young as nine should work at least part time cleaning their schools in order to learn about work.

Gingrich said his comments were misconstrued.

"What I was saying was, in the poorest neighborhoods, if we can find a way to help young people earn some money, we might actually be able to keep the dropout rate down and give people an incentive to come to school," he said.

The explanation little satisfied some in the crowd, including a woman who said Gingrich's words came across "so negatively, like we're not doing everything for our young people."

Gingrich was also asked if he stood by his assertion that Obama is a "food stamp president", a line the Georgia Republican uses often during stump speeches. He responded with a simple, "Yes."

Gingrich is grasping for campaign life in South Carolina after disappointing fourth place finishes in Iowa and New Hampshire. Success for Gingrich in the South's first primary will depend largely on his ability to draw support from the state's conservative and evangelical voters.

That made Saturday's appearance at a black church all the more head-scratching, particularly because it was Gingrich's only public appearance of the day in South Carolina.

But Gingrich spokesman R.C. Hammond said the appearance was a good use of the candidate's time.

"If you're going to lead America, you have to be willing to lead all of America," he said.

The often-combative Gingrich did try to strike a conciliatory tone at times, promising "a very serious outreach to Democrats" in Washington if he were elected president. And he said the forum was appropriately being held around the holiday honoring Martin Luther King, Jr.

"This would be what he would have liked," Gingrich said of the late civil rights leader.

Following the question and answer session, church members prayed over Gingrich and his wife, Callista. The couple then joined the crowd in the church basement for dinner.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2012-01-15-Gingrich/id-3be9f90cc14d485694fedf179a31983d

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