More than ever, Barca more than club for Catalans

























BARCELONA, Spain (AP) — Nearly 20 minutes into the latest clash between Spain’s most popular football teams, Barcelona‘s 98,000-seat Camp Nou stadium erupted into a deafening roar. Tens of thousands of Catalans in the city at the heart of their separatist movement chanted in unison: “Independence!”


More than ever, FC Barcelona, known affectionately as Barca, is living up to its motto of being “more than a club” for this wealthy northeastern region where Spain’s economic crisis is fueling separatist sentiment.





















Lifelong Barca club member Enric Pujol was at Camp Nou for this month’s game against Real Madrid, the team of Spain’s capital. Wearing his burgundy-and-blue Barca jersey, Pujol also held one of the hundreds of pro-independence “estelada” flags, featuring a white star in a blue triangle, which bristled throughout the stands.


“It was a beautiful emotion to see Camp Nou like that,” said Pujol. “Barca is more than a club because of the values it transmits. It is linked to Catalan culture. In this sense it is a club and a social institution that acts like our flag.”


Barca has been seen as a bastion of Catalan identity dating back to the three decades of dictatorship when Catalans could not openly speak, teach or publish in their native Catalan language. Barcelona writer Manuel Vazquez Montalban famously called the football team “Catalonia‘s unarmed symbolic army.”


Barca-Real Madrid matches have a nickname: “el clasico” — the classic — and they are one of the world’s most-watched sporting events, seen by 400 million people in 30 countries. But local passions run high. In Spain, where football has deep political and cultural connotations, many see the clashes of Spain’s most successful teams as a proxy battle between wealthy Catalonia and the central government in Madrid. If Barca is a symbol of Catalan nationalism, Real Madrid is an emblem of a unified Spain.


“Look, the truth is that ever since the Civil War there has always been tension in Spain,” said Pujol. “Having traveled in Spain, they always look at us as Catalans.”


Ahead of kickoff before any “clasico,” Camp Nou traditionally greets Real Madrid players with a huge mosaic of Barcelona’s burgundy-and-blue made up of colored cards. This year, for the first time, they held up cards forming the red-and-yellow striped Catalan “senyera” flag — an explicit nationalist message. (Barca says it can neither confirm nor deny reports that its away uniform next season will be modeled on the senyera.)


Then came the crowd’s collective shout for independence at 1714 hours — in reference to the year 1714 when Barcelona fell to the troops of Philip V in the War of Spanish Succession. It was organized by a pro-independence group through social media.


Barca fan David Fort sees his team as a vehicle to show the world that Catalonia has its own language and culture, which is distinct from what he called the “bulls and flamenco” associated with Spain.


“We have this love for Barca because we have the chance to be represented around the world,” said Fort, a 38-year-old architect from the southern Catalan town of Tarragona. “When we travel and they ask me if I am Spanish, I say not exactly, but when I mention Barca they say ‘Ah! The Catalan team’, and of course since they are champions you feel proud.”


Barca, like every institution in Spain, was marked by the Spanish Civil War of the late 1930s and resulting right-wing dictatorship that ended after Franco’s death in 1975.


Franco’s soldiers killed Barca’s club president in 1936, and the club was forced to change its name from a Catalan to a Spanish version. And while Real Madrid was identified with the regime, Barca, for many, came to represent Catalan anti-fascist resistance.


“Under Franco, people could not shout ‘Long Live Catalonia!,’ but they could shout ‘Long Live Barca!’ (¡Visca Barca!)” in Catalan, said Ernest Folch, a newspaper columnist who writes about Barca for El Periodico. The chant became a kind of code for expressing Catalan pride.


“Barca is an anomaly. There is no other club with its particular history,” said Folch. “It survived the Franco dictatorship, and has always been a focal point for protest and ferment where sport has mixed with politics.”


And politics is a very hot topic these days in Catalonia.


Voters will go to the polls on Nov. 25 in regional elections sure to be judged as a litmus test of the strength of the pro-independence movement that brought 1.5 million people to the streets of Barcelona on Sept. 11 in the largest rally since the 1970s.


Catalonia is heavily in debt and has in fact asked Spain for a euros 5.9 billion ($ 75 billion) bailout. Even so, regional lawmakers voted on Sept. 27 to hold a referendum on self-determination at a date still to be determined. And although it is still unclear that a “Yes” vote would win, Spain’s central government has called such a referendum unconstitutional and will surely try to stop it from taking place.


That all puts Catalonia, and therefore Barca, in the midst of Spain’s struggles to deal with consequences of back-to-back recessions, 25 percent unemployment, and high public debt that has drawn it into the euro crisis along with already bailed-out Greece, Ireland and Portugal.


Barca’s appeal, of course, transcends its regional identity. The team is beloved throughout the world, and a poll last year found that it had displaced Real Madrid as Spain’s most popular team. Barca has 546 fan clubs in Catalonia, and 841 in the rest of Spain. Some of these fans— even in Catalonia — disagree with what they perceive as the political turn the club has taken in recent years.


“It’s surreal to talk to talk about these ideas related to independence,” said fan Jamie Easton, 27, a Spaniard born in Barcelona to a British father and a mother of Catalan descent. “Barca is a Catalan and Spanish club because Barcelona is part of Spain, and fans can feel however they want.”


The upswing in separatist sentiment in Catalonia has forced both the club and its players— many of whom form the backbone of Spain’s world champion national side — to try a difficult balancing act between supporting their most fervent pro-independence fans without alienating the millions of others who are not.


“We are Barca. We represent Catalonia and we will support whatever Catalans want,” said Barca and Spain midfielder Xavi Hernandez. But he added: “We try to isolate ourselves from everything outside the game. We know the political issue is there, and the people have the right to express themselves however they wish, but we are here to play football and make sure people have fun.”


The glaring exception to the moderate tone is former coach Pep Guardiola, a hugely popular figure in Catalonia, who appeared in a video during the Sept. 11 march saying: “Here you have my vote for independence.”


Two weeks after the politically charged “clasico,” Barca president Sandro Rosell made his first official visit to southern Spain to cool tensions at a meeting of Barca fan clubs.


“I don’t know what information you are receiving here, but I preferred to come here and say on behalf of the club that Barca will never get mixed up in political issues,” Rosell told the 1,000 Spanish fans, promising that Barca would never display a mosaic of the separatist “estelada” flag at Camp Nou.


“This doesn’t mean that this isn’t a Catalan club and that of course we will defend our roots and origins, but one thing shouldn’t be mixed with the other. One thing is politics and the other is identity. Barca unites us all.”


___


AP Writer Jorge Sainz contributed to this report from Madrid.


Europe News Headlines – Yahoo! News



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In San Francisco, tech investor leads a political makeover

SAN FRANCISCO (Reuters) - One morning in April, Ron Conway, the billionaire technology investor, sat in a conference room on the second floor of San Francisco's City Hall with about 50 representatives from the city's business community.


On the agenda was a sweeping proposal by Mayor Ed Lee to reform the city's payroll tax, a plan that would favor companies with many employees but little revenue — tech start-ups, namely — while shifting the burden to the real estate and financial industries.


The head of the San Francisco Chamber of Commerce was arguing against the proposal when Conway abruptly cut him off.


"The tech industry is producing all the jobs in this city," Conway snapped, according to four people present, his voice rising as he insisted that old-line businesses "need to get on board."


In the end, they did get on board — and San Francisco voters on November 6 will decide whether to approve the change in the tax code.


Conway's success with the tax initiative demonstrates the profound transformation playing out in San Francisco's business corridors and its halls of power. As start-ups blossom, attracting a wave of entrepreneurs and investment dollars, the tech industry is wielding newfound clout in local politics — largely thanks to Conway, its brash, silver-haired champion.


The shift, local political experts say, harks back to the turn of the last century, when financial institutions like the Bank of Italy — forebear to present-day Bank of America — gradually eroded the railroad barons' grip over California politics.


Now the tech industry, led by Conway, is beginning to overshadow long-dominant local business lobbies, said Chris Lehane, a political consultant and former adviser in the Clinton White House.


"When you have a new business entity that really hasn't existed in the past and becomes a real player in local politics, that changes the balance a bit," said Lehane, who is based in San Francisco. "People like Ron Conway, he's an angel investor in companies but also an angel supporter of politicians he cares about."


Not everyone in this famously liberal city is enthused about the new tech boom, which is driving up rents and threatening to price out all but the wealthy.


"As someone who lived through the tech boom in the '90s and watched countless friends and community members get pushed out of their homes, only for the bubble to disintegrate, this is painful to watch," said Gabriel Haaland, political director for the SEIU Local 1021, the largest union in the city. "Those times are here again."


Last month, when San Francisco Magazine published an article bemoaning tech-driven gentrification, traffic on the magazine's website broke all records.


"It touched on an issue that people have been thinking about for a while," said Jon Steinberg, the magazine's editor.


Conway and Lee make no apologies.


"Tech added 13,000 out of the 25,000 new jobs we created the last couple years, which helped us bring the unemployment rate to the third-lowest in the state," Lee, a Democrat, said in an interview. "We have to work with the new jobs creators, and that's what I believe the public wants me to do."


Conway, who made his name in the 1990s by betting on small, early-stage companies and scoring a huge win with Google, says a key goal of a new civic organization he has started, San Francisco Citizens Initiative for Technology & Innovation, is to provide service jobs in tech for long-term residents and the unemployed.


"It would be great if we could create a few hundred jobs in the $50,000 to $80,000 income bracket," said Conway. "We're here to improve the living conditions for all of San Francisco. That's the responsibility tech wants to take."


ODD COUPLE


Conway and Lee have an exceptionally close relationship, one that has captivated the city's political set even while attracting accusations of favoritism from the mayor's rivals.


The two make an odd couple. Lee was a publicity-shy city bureaucrat and civil rights lawyer for decades before being named caretaker mayor of this Democratic bastion in 2011 after his predecessor was elected lieutenant governor. Conway, until recently a registered Republican, counts Tiger Woods and Henry Kissinger among his investors and considers a start-up tour with Ashton Kutcher in tow just another day's work.


In a city that faces chronic budget deficits even as it enjoys a comparatively strong economy, the relationship is symbiotic. Conway taps his access to Lee to promote his companies, from Twitter to Zynga to Airbnb; Lee persuades Conway to rally tech leaders to help fund the police, the schools, the parks.


Their alliance began only last year. As interim mayor, Lee impressed Conway when he pushed through a tax exemption for Twitter, which had considered moving out of the city to avoid the tax bill that would have resulted from an initial public offering. San Francisco imposes a 1.5 percent payroll tax on local companies, a levy that applies to any gains in an IPO.


When Lee ran for a full four-year term several months later, Conway formed an independent political action committee on his behalf. He rustled up almost $700,000 from the likes of entrepreneur Sean Parker; Zynga CEO Mark Pincus; Salesforce CEO Marc Benioff; venture capitalists John Doerr and Tom Byers; and Credit Suisse banker Bill Brady.


He also enlisted Portal A, a video production outfit consisting of three twentysomething hitmakers, to create a YouTube video that featured rapper MC Hammer, Yahoo CEO Marissa Mayer and San Francisco Giants pitcher Brian Wilson dancing on Conway's rooftop. The clip went viral and effectively drowned out ads from Lee's rivals.


A year later, Conway rated the mayor's performance a "9.5 out of 10."


"I have a tremendous respect for Mayor Lee," he said. "He listens to people. He builds consensus, and that's an improvement from the past."


Conway said he and Lee are "too busy with our day jobs" to socialize frequently. Neither likes to publicly discuss their relationship. But when the mayor turned 60 in May, Lee and his family sat down for a three-hour private dinner with Conway and his wife, Gayle, at an Italian restaurant in North Beach, according to the San Francisco Chronicle's gossip columnists.


For Conway — whose calls to the mayor's office are considered the highest priority, City Hall insiders say — no issue facing his portfolio companies is too insignificant for him to get involved. In one instance this year, after social media company Pinterest moved to San Francisco, Conway pressed officials to repaint curbs to allow employee parking near the start-up's offices, according to two people with knowledge of the matter. The city refused; Conway denied that the incident occurred.


While some cities have cracked down on services like Airbnb, which lets residents rent out spare bedrooms and can run afoul of local lodging ordinances, Lee has taken the opposite tack. This year he formed a policy-making group to consider how to regulate and foster such companies, which are part of what's known in Silicon Valley as the "sharing economy."


The mayor has also urged Conway to help city initiatives. Conway recently contributed $100,000 toward a campaign to approve bonds to restore the city's parks, and gave $25,000 to a charity founded by Lee that funds impoverished public schools. When a group of software developers tried recently to create an app that would improve public bus performance but lacked funds for a pilot program, SF Citi stepped in and cut a check.


Lee said he hoped Conway would fill a void left by recently deceased philanthropists such as Gap Inc founder Don Fisher, real estate mogul Walter Shorenstein and private equity investor Warren Hellman.


"The tech guys like Conway usually want to meet presidents and such. You never see them play so deep in local government," said one Democratic fundraiser. "It's unusual."


But the tech world says the headlong plunge into local politics is classic Conway.


"When Ron is passionate about an issue or a company or a person, it's never a secret," said Twitter CEO Dick Costolo. "He's passionate about San Francisco right now, and it's exhibiting itself in the way he helps companies in the city, the way he helps the city. It's fantastic to see."


CHANGING TAX POLICY


Conway says his top priority is passage of the payroll tax reform initiative on November 6.


The measure would tax local businesses based on their gross receipts instead of the size of their payroll, which benefits low-revenue, high-headcount companies like startups. Financial, insurance and real estate companies would see their local taxes rise by 30 percent, while taxes will remain flat for most scientific and technical companies.


Crucially, the measure would also mean that proceeds from an IPO would not be subject to taxes.


Landlords, and to a lesser extent financial services companies, conceded that they had lost their first political fight with the tech industry, but took the long view.


"We knew we were going to be socked in a big way, and we worked early and long and hard with the city for a rate that was fair," said Ken Cleaveland of the Building Owners and Managers Association. "In the end it wasn't in our best interest to fight our tenants."


(Reporting by Gerry Shih; Editing by Jonathan Weber, Douglas Royalty and Dale Hudson)


Read More..

Prowler at Cruise’s home turns out to be neighbor

























BEVERLY HILLS, Calif. (AP) — Police say a security guard at actor Tom Cruise‘s house used a stun gun on a would-be prowler, but the man turned out to be an intoxicated neighbor who may have mistakenly entered the property.


Lt. Lincoln Hoshino says the confrontation occurred at Cruise’s Beverly Hills residence about 9:30 p.m. PDT Sunday when the actor and his family weren’t home.





















The guard saw a man “climbing a fence to gain access to the property” and he used the stun gun to detain him for police.


The officer tells City News Service that the man was identified as a 41-year-old neighbor who lives in an adjacent property, and was intoxicated at the time.


The man was taken into custody for trespassing and treated at a hospital for any problems stemming from the stun gun.


Entertainment News Headlines – Yahoo! News



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GSK starts final-stage tests on severe asthma drug

























LONDON (Reuters) – GlaxoSmithKline has started final-stage testing of an experimental drug for treating severe asthma, Britain’s biggest drugmaker said on Monday.


The move to progress the injectable antibody treatment mepolizumab into Phase III trials had been expected after an earlier study showed it nearly halved the number of attacks suffered by patients.





















Severe refractory asthma only affects around 4 percent of patients with the disease, so the drug may not become a major seller for GSK but could consolidate the group’s strong grip on the market for lung drugs.


(Reporting by Ben Hirschler)


Medications/Drugs News Headlines – Yahoo! News



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Hurricane Sandy puts 50M people at risk


Residents up and down the East Coast are preparing for what forecasters predict could be the worst storm in two generations as Hurricane Sandy is strengthening, putting 50 million people at risk.


The eye of Sandy is forecast to make landfall late Monday night in
Atlantic City, N.J., bringing with it life-threatening storm surges,
forceful winds and rainfall that could cripple transportation and leave
millions without power. But the force of the storm was already evident
as powerful winds and high seas already began lashing the coast Sunday
night.


The size and power of the storm are almost without equal as several
systems will combine to wreak havok on a large section of the nation --
from North Carolina to New England as far west as the Great Lakes.



Hurricane Sandy: Live Storm Tracker


Hurricane Sandy's maximum sustained winds increased to 85 mph overnight.
As of 5 a.m., Sandy was centered about 385 miles southeast of New York
City, and moving north at 15 mph, according to the National Hurricane
Center.


On the East Coast, a storm surge is expected along a 600-mile stretch of
the Atlantic along with rainfall in places of 6 to 10 inches and even
more, and waves 20 to 25 feet are possible on the south side of Lake
Michigan Monday night into Wednesday.


"We want to prepare people for the worst," New Jersey Gov. Chris
Christie said Sunday, warning that some residents could be without power
for more than a week.


As of 6 a.m. today, Jersey Central Power and Light was reporting 4,671
customers without power in northern New Jersey, according to ABC News'
New York station WABC-TV.


Christie urged people in the path of Hurricane Sandy to "remain calm and listen to instructions."


Hurricane Sandy: Live Updates


A wind gust of 64 mph was recorded just south of Wilmington, N.C.,
shortly before 5 a.m. today. The highest rainfall total recorded was
almost six inches in Dare County, N.C.


Tens of thousands of people in coastal areas have been ordered to evacuate their homes before Hurricane Sandy pounds the eastern third of the United States.


States of emergency were declared from North Carolina to Connecticut.
Coastal communities in Delaware were ordered to evacuate by 8 p.m.
Sunday night, and all non-emergency vehicles were ordered to stay off
the state's roads beginning at 5 a.m. Monday.


"While the predicted track of Hurricane Sandy has shifted a number of
times over the last 24 hours, it has become clear that the state will be
affected by high winds, heavy rainfall, and flooding, especially along
the coastline for a several day period," Delaware Gov. Jack Markell
said. "These factors, along with the potential for power outages, have
convinced me that the prudent thing to do is have people leave most of
our coastal communities."


Sandy is expected to bring potentially life-threatening storm surges on
the coast, ranging from several feet to potentially as high as 11 feet
in the Long Island Sound area of New York, said Rick Knabb, director of
the National Hurricane Center.


Hurricane Sandy: Full Coverage


Sandy will meet up with cold front coming from the northwest and a high
pressure system from Greenland, fueling it with enough energy to make it
more powerful than the so-called "Perfect Storm" in 1991,
meteorologists say.


"The size of the storm is going to carve a pretty large swath of bad weather," Knabb said. "This is not just a coastal event."


The first rainfall from the megastorm already began to hit the coast of
Virginia, Delaware and New Jersey Sunday night and forecasters warn it
could bring inland flooding around Maryland and Pennsylvania. A blizzard
warning was issued for portions of West Virginia, where Sandy could
bring up to two feet of snow.




FEMA administrator Craig Fugate urged people in Sandy's path to take the storm seriously and to heed any evacuation orders.


"The time for preparing and talking is about over. People need to be acting now," Fugate said.


New York City transit officials shut down the subway system, the largest
rapid transit system in the world at 7 p.m. Sunday. Sandy could
potentially create a storm surge capable of overtopping the Manhattan
flood walls, filling the subway tunnels with water.


New York City Mayor Michael Bloomberg ordered the evacuation of areas of lower Manhattan and the Rockaways.


"If you don't evacuate, you are not only endangering your life, you are
also endangering the lives of the first responders who are going in to
rescue you," Bloomberg said at a news conference. "This is a serious and
dangerous storm."


New York City Schools will also be closed Monday, Bloomberg said.


Given its size and expected duration of two to three days, Sandy could
turn out to be comparable to 1991's Hurricane Grace, also known as the
"Perfect Storm," and a cyclone that struck near the Appalachians in
November 1950, FEMA administrator Craig Fugate said. But, Fugate said,
officials don't try to make historical comparisons until after a storm
hits.


7 Devastating Hurricanes: Where Will Sandy Rank?


Power Outages


Power companies are being proactive before Sandy makes landfall,
trimming trees and putting equipment place to hopefully minimize the
number of people left without power after the storm.


Last year, Hurricane Irene left 7 million homes without power in the same area Sandy is expected to batter with wind and rain.


Hurricane Sandy: Supplies You Should Have


"The best thing is to be prepared, and I think that's where we are.
We're prepared for what the worst will bring," said Vince Maione, who
has been with Atlantic City Electric, a company serving south New
Jersey, for 28 years.


Travel Woes


Sunday also brought more than 1,000 flight cancelations, with 5,559
expected for Monday and 613 cancelled for Tuesday, Flight Aware
reported. The most affected airport today was Newark with 305
cancellations.


ABCs of Hurricane Sandy Travel


People scheduled to fly to or from the eastern third of the country are encouraged to check their flight status.


ABC News' Russell Goldman, Sydney Lupkin and Genevieve Shaw Brown contributed to this report.

Also Read
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Lithuania opens 2nd round of national election

























VILNIUS, Lithuania (AP) — Voting stations have opened in the second round of Lithuania’s parliamentary elections, with the results likely to determine whether the small East European nation continues tough austerity measures in an effort to join the euro zone.


Nearly half of Parliament’s 141 seats are at stake in single-mandate district voting, which takes place two weeks after the party-list round that failed to produce a clear favorite.





















Two center-left opposition parties took the most seats and have pledged to form a new coalition government, but the ruling conservative party, which came in third, still has a chance to emerge victorious as it has candidates in over half the 67 districts where voting will be held Sunday.


Opposition parties have vowed to increase social spending and postpone tentative plans to adopt the euro in 2014.


Europe News Headlines – Yahoo! News



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Star Silicon Valley analyst felled by Facebook IPO fallout

SAN FRANCISCO (Reuters) - The firing of Citigroup stock analyst Mark Mahaney on Friday in the regulatory fallout from Facebook Inc's initial public offering was greeted with shock and dismay in Silicon Valley, where Mahaney was a well-known and well-liked figure.


"Pretty shocked," was the reaction of Jacob Funds Chief Executive Ryan Jacob, who described Mahaney as one of the most respected financial analysts covering the Internet industry.


"I'd put him at the top. If not at the top, then near the top," said Jacob. "He really knew what to look for."


In addition to firing Mahaney, Citigroup paid a $2 million fine to Massachusetts regulators to settle charges that the bank improperly disclosed research on Facebook ahead of its $16 billion IPO in May.


The settlement agreement said Mahaney failed to supervise a junior analyst who improperly shared Facebook research with the TechCrunch news website. (Settlement agreement: http://r.reuters.com/pyj63t)


The settlement agreement also outlined an incident in which Mahaney failed to get approval before responding to a journalist's questions about Google Inc -- and told a Citigroup compliance staffer that the conversation had not occurred -- even after being warned about unauthorized conversations with the media.


Mahaney declined to comment.


Mahaney got his start in the late 1990s, during the first dot-com boom where he worked at Morgan Stanley for Mary Meeker, one of the star analysts of the time. He went on to work at hedge fund Galleon Group before moving to Citigroup in 2005. Unlike most of his New York-based peers in the analyst world, Mahaney worked in San Francisco's financial district, close to the companies and personalities at the heart of the tech industry.


Earlier this month, Mahaney was named the top Internet analyst for the fifth straight year by Institutional Investor. The review cited fans of Mahaney who praised a "systematic" investment approach that allows him to avoid the "waffling" often evidenced by other analysts.


Mahaney's Buy rating on IAC/InteractiveCorp in April 2011, when the stock traded at $33.32, allowed investors to lock in a 51 percent gain before he downgraded the stock to a Hold at $50.31 a few months later, according to Institutional Investor.


But it wasn't only his stock picks that put him in good stead. He earned kudos for simply being a nice guy.


"He's a kind and thoughtful person and that's evident in the way he deals with people," said Jason Jones of Internet investment firm HighStep Capital. "He's very well liked on Wall Street because of that."


A CAUTIOUS VIEW ON FACEBOOK


Mahaney was only indirectly involved in the incident involving the Facebook research, according to the settlement agreement by Massachusetts regulators released on Friday. But the actions of the junior analyst who worked for him provide an unusual glimpse into the type of behind-the-scenes information trading that regulators are attempting to rein in.


While the Massachusetts regulators did not identify any of the individuals by name, Reuters has learned that the incident involved TechCrunch reporters Josh Constine and Kim-Mai Cutler as well as Citi junior analyst Eric Jacobs.


Jacobs, Constine and Cutler all did not respond to requests for comments.


In early May, shortly before Facebook's IPO, Jacobs sent an email to Cutler and Constine. Constine attended Stanford University at the same time as Jacobs.


Constine, who studied social networks such as Facebook and Twitter for his 2009 Master's degree in cybersociology at Stanford, had a close friendship with Jacobs, according to the settlement agreement.


"I am ramping up coverage on FB and thought you guys might like to see how the street is thinking about it (and our estimates)," Jacobs wrote in the email. The email included an "outline" that Jacobs said would eventually become the firm's 30-40 page initiation report on Facebook.


He also included a "Facebook One Pager" document, which contained confidential, non-public information that Citigroup obtained in order to help begin covering Facebook after the IPO.


Asked by Constine if the information could be published and attributed to an anonymous source, Jacobs responded that "my boss would eat me alive," the agreement said.


A spokeswoman for AOL Inc, which owns TechCrunch, declined to answer questions on the matter, saying only that "We are looking into the matter and have no comment at this time."


Ironically, Mahaney was one of a small group of analysts at the many banks underwriting Facebook's IPO who had cautious views of the richly valued offering. Mahaney initiated coverage of the company with a neutral rating.


Analysts at the top three underwriters on Facebook's IPO - Morgan Stanley, Goldman Sachs and J.P. Morgan - started the stock with overweight or buy recommendations.


Earlier this year, Reuters reported that Facebook had pre-briefed analysts for its underwriters ahead of its IPO, advising them to reduce their profit and revenue forecasts.


Facebook, whose stock was priced at $38 a share in the IPO, closed Friday's regular session at $21.94 and has traded as low as $17.55.


"There were tens of billions of dollars in losses based on hyping the name, a lack of skeptical information and misunderstanding the company," said Max Wolff, chief economist and senior analyst at research firm GreenCrest Capital.


"It's highly unfortunate and darkly ironic that one of the signature regulatory actions from this IPO so far involves punishing analysts for disseminating cautious information about Facebook," he added.


(Editing by Jonathan Weber, Mary Milliken and Lisa Shumaker)


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1960s music hero Riley: “The pendulum will swing”

























ARLES, France (Reuters) – American composer Terry Riley, who penned the 1960s piece “In C” that earned him his reputation as “the father of minimalism” in music, thinks the pendulum will swing back to that magical time.


“I don’t really look on it with nostalgia, I just wonder how we didn’t hold onto it longer,” Riley, who has remained in the forefront of innovative music ever since, told Reuters.





















“It was a very brief flame that spluttered out.”


The 77-year-old California native who taught at the progressive Mills College in Oakland, Ca. during the 1970s, said he had been dismayed by the number of students who abandoned art and music courses and drifted into business.


“To me that was like a sign of the times that materialism was becoming more important than spirituality and I think we’ve been stuck there, that’s where the pendulum has kind of stayed for awhile,” he said, talking after a performance in the ancient French city of Arles.


“Of course, it swings back and forth, we all know that, and we’re very hopeful that there will be another age of enlightenment,” he added.


Riley, who braids his grey beard and has a beaming smile, was here to create music for a visual art installation by fellow Californian Doug Aitken, incorporating images of salt mines, bull-herding and other features of the Camargue countryside surrounding Arles for a project sponsored by the Luma Foundation. (http://www.doug-aitken-arles.com/alteredearth.html)


Riley’s flowing piece in a darkened hall featured spacey, occasionally Hindi-inspired music on piano and souped-up keyboards accompanied by his guitarist son Gyan and violinist Tracy Silverman.


It was an instant hit with the local residents and invited guests who showed up to see Aitken’s images and hear Riley.


“I thought it was great, it’s not every day you see things like that around here,” said Olivier Cablat, 34, a local photographer. “The music was great, I love experimental things.”


STILL GOING STRONG


Riley is still going strong as he nears the end of his seventh decade, much of that time spent as one of the leaders of a revolutionary movement in American music that sprang up in the second half of the 20th century.


Riley, John Cage, Philip Glass and Steve Reich, to mention just four of the biggest names, stole a march on the European composers who had embraced atonalism, abstruse theories and found almost surefire ways to clear out concert halls.


“We all knew each other,” said Riley, who got into music composition and performance without the conservatory training that his son, whose first name comes from Sanskrit, has had.


“I think what I brought into it was a kind of kinetic energy which was similar to the kinetic energies arising in rock ‘n roll.”


“In C”, released as an LP in 1964, was the classical music piece heard round the world. Its mesmerizing, repetitious and trance-like cadences knocked the stuffing out of European art music and put music on the path to the streamlined, pulsing sounds popularized further by Glass in his opera “Einstein on the Beach” and Reich’s ritualistic “Music for 18 Musicians”.


Riley’s formal training came after he got interested in Indian music in the 1970s and, under the guidance of the Pakistani-born north Indian raga vocalist Pandit Pran Nath, who died in 1996, he spent about a quarter century soaking up and learning the Indian musical tradition and culture.


OLDER CULTURE


“India has a much older culture than we have in the West, it goes back 2,000 years before ours and there was an enormous storehouse of musical knowledge there, about melody and rhythm and also how to connect with each other, because music is transmitted,” Riley said, sipping a coffee in the sunny garden of a stone house adjacent to a spectacular Roman necropolis, that features in a painting by onetime Arles resident Vincent van Gogh.


Riley says he has been coming back to Western music from the vantage point of being steeped in Indian music, with results that have continued to win him followers and praising reviews for pieces ranging from chamber music to concertos to solo piano pieces and, more recently, organ music.


Thanks in part to a close partnership with the ultra-hip Kronos Quartet, a recording of Riley’s rhythmic and engaging five-quartet cycle “Salome Dances for Peace” was chosen as the best classical album of the year by USA Today and was nominated for the record industry’s prestigious Grammy in 1989.


In recent years, Riley, who is of Irish extraction on his father’s side and Italian on his mother’s, has been exploring his Irish roots, especially in work performed by the Irish contemporary music Crash Ensemble.


One of his pieces played by Crash, “Loops for Ancient-Giant-Nude-Hairy Warriors Racing Down the Slopes of Battle”, is on YouTube (http://www.youtube.com/watch?v=ikQeZZcxm64) and, Riley maintained, is based on the historic tradition of Irish tribal warriors racing into battle nude and screaming.


“They would freak out the enemy as they raced towards them naked…it was psychological warfare,” Riley said.


His maternal side may have to wait a bit longer, though, to see its embodiment in grand operatic form.


“I am very unfond of bel canto and recitative,” he said.


(Editing by Paul Casciato)


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S.Africa’s Zuma drops suit over rape cartoon: paper

























JOHANNESBURG (Reuters) – South African President Jacob Zuma intends to drop a four-year-old lawsuit claiming nearly $ 600,000 in damages from a cartoonist who depicted him poised to rape “Lady Justice“, a newspaper said on Sunday.


The Sunday Times, named as a defendant in the case, said it had reached an agreement with Zuma‘s lawyers for the suit and all claims to be dropped, including the demand for monetary damages and an apology.





















Officials for the South African presidency were not immediately available for comment.


The civil case had been due to start on Monday.


Zuma, facing re-election for leader of the ruling African National Congress (ANC) at the end of the year, has been criticised for pushing laws seen as trying to muzzle the media.


If the case went forward, it could have provided ammunition for foes in the party who say he wants to silence his critics through bullying.


Zuma had been seeking 4 million rand for defamation from Avusa media and an additional 1 million rand from a former Sunday Times editor for publishing the 2008 cartoon.


Ray Hartley, the current editor, said in the paper: “A lot of time and taxpayer money has been wasted on an ill-considered effort to curtail free expression.”


The cartoon from award-winning Jonathan Shapiro, better known by his pen name “Zapiro”, shows Zuma’s supporters holding down Lady Justice while Zuma stands over the woman with his trousers unzipped.


It was published when Zuma was facing corruption charges that could have blocked his path to the presidency.


A court in 2006 acquitted Zuma of raping an HIV-positive family friend in a case that garnered widespread public interest in a country with one of the world’s highest recorded rates of sexual violence.


Zuma’s ANC took a Johannesburg gallery to court and led massive street rallies earlier this year to protest a painting called “The Spear” that portrayed Zuma with his penis exposed.


The ANC, which has ruled since apartheid ended in 1994, called the image racist and intended to tarnish Zuma’s dignity.


Zuma’s critics say the image was reflective of his colourful personal life. A Zulu polygamist with four wives and more than 20 children, he has also been caught having extra-marital affairs.


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Storm scrambles presidential contest

LAND O'LAKES, Fla. (AP) — Scrambling to avoid the superstorm that threatens to disrupt the lives of millions of Americans up and down the East Coast, Republican Mitt Romney is returning to battleground Ohio to fight for momentum nine days before the election.

The GOP presidential candidate had planned to campaign Sunday in Virginia, but will instead join running mate Paul Ryan in the Buckeye State. The weather also forced President Barack Obama to shift his campaign schedule.

The storm presents both sides with a most unlikely October surprise as polls show an extraordinarily tight race. Hurricane Sandy had each campaign discarding carefully mapped-out itineraries as they worked to maximize voter turnout while avoiding any suggestion they were putting politics ahead of public safety.

On Saturday, Romney spoke of bipartisanship before early voters in Florida, while Obama worked to nail down tiny New Hampshire's four electoral votes.

The former Massachusetts governor, who presented himself as a staunch conservative during the Republican primaries but has been striking a more moderate tone as he courts women and independent voters in the campaign's home stretch, campaigned across Florida. He promised to "build bridges" with Democrats.

Romney coupled his message with digs at the president for "shrinking from the magnitude of the times" and advancing an agenda that lacks vision.

Obama, who planned to travel to Florida Sunday night, took his campaign to New Hampshire. He told volunteers Saturday at a Teamsters hall in Manchester that: "We don't know how this thing is going to play out. These four electoral voters right here could make all the difference."

Winning the White House takes 270 electoral votes. Obama is ahead in states and the District of Columbia representing 237 electoral votes; Romney has a comfortable lead in states with 191 electoral votes. The rest lie in nine contested states that remain too close to call.

The president adjusted his campaign speech at a Nashua rally to appeal to voters in low-tax New Hampshire, hammering Romney for raising taxes and fees as governor of neighboring Massachusetts.

Obama accused Romney of running in Massachusetts on a pledge to lower taxes, then making life more expensive for the middle class after taking office.

"All he's offering is a big rerun of the same policies," Obama told a crowd of 8,500 gathered at an outdoor rally on an unseasonably warm October day.

The candidates worked to lock down every possible early vote without intruding on emergency preparations as the storm's expected track looked to affect at least four battleground states: North Carolina, Virginia, Ohio and New Hampshire.

Obama canceled appearances in Prince William County, Va., on Monday, and Colorado Springs, Colo., on Tuesday so he could monitor Hurricane Sandy as it surges ashore. He did move up his planned Monday departure for Florida to Sunday night to beat the storm and planned a Monday stop in Youngstown, Ohio, before returning home to Washington.

Instead of campaigning in Virginia as scheduled, Romney on Sunday joins Ryan for three stops of his Ohio bus tour.

Vice President Joe Biden canceled a Saturday rally in coastal Virginia Beach, Va., to allow local officials there to focus on disaster preparedness and local security concerns. But he went ahead with an appearance in Lynchburg, which is inland.

Biden said Romney and Ryan are fleeing from their record to appear more moderate than they are. They "are counting on the American people to have an overwhelming case of amnesia."

En route to New Hampshire, Obama held an airborne conference call with administration officials about the federal government's role in minimizing storm damage and ensuring a speedy recovery effort.

Romney's trip to Florida, with three events across the state, was timed to coincide with the first day of in-person early voting in a state where 29 electoral votes are up for grabs.

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