Friday 28 June 2013

The Mother Of All American Vintage Car Collections Going To Auction

This is The Morning Shift, our one-stop daily roundup of all the auto news that's actually important ? all in one place at 9:00 AM. Or, you could spend all day waiting for other sites to parse it out to you one story at a time. Isn't your time more important?

1st Gear: Sell All The American Cars!

The Mother Of All American Vintage Car Collections Going To AuctionS

From Motoramic comes this great news that the remains of a small-town Chevy dealer's collection, built up over 50 years, is finally going up for auction.

The owners of Lambrecht Chevrolet in Pierce, Nebraska built up around 500 vehicles over the 50 years of business, mostly through trade-ins, and left those cars to gather dust when they closed up. The cars came to represent "a lifetime of hard work, tears, and joy" says the daughter of the Lambrechts.

Their hard work can be your gain when the vehicles go up for auction this fall. Just take a look at what's for sale [PDF]. There's a Vega wagon with only 17 miles! And did we mention all the Corvairs?

While most of the cars are older GM products, there are some other great finds including a relatively low-mileage '70s International 4x4 pickup and a Kaiser Sedan.

Which would you pick?

2nd Gear: The Global Cadillac And Buick And Holden Musical Chairs

The Mother Of All American Vintage Car Collections Going To AuctionS

The world loves Cadillacs and Buicks and, here in the U.S., we're surely warming up to them. This has a lot to do with placement and, especially in the case of Cadillac, in them no longer looking like nothing more than Landau-roofed Chevy boats.

Holden's design director Andrew Smith will now head up design for both brands, globally, which is a huge challenge. We know what a Cadillac is supposed to look like now and Buick, at least, is starting to coalesce around a shared language.

He replaces Mark Adams (pictured), who was responsible for overseeing the new Cadillac CTS and our beloved Cadillac ATS. Now Adams has to go to Europe to untangle the Buick-Opel mess reports Automotive News.

Smith, despite the success of the brands he's taking over, probably has the better deal here.

3rd Gear: The Infiniti Challenge

The Mother Of All American Vintage Car Collections Going To AuctionS

Infiniti, despite some enjoyable products throughout the years, has never become Nissan's Lexus. Nor has it become Nissan's Acura which, given current conditions, maybe isn't a bad thing. Nissan starts over.

The Wall Street Journal brings us this story about former Audi head Johan de Nysschen's attempt at remaking Infiniti from scratch and the billions they're going to spend to do it.

?This is like a startup company,? says Infiniti President Johan de Nysschen. Mr. Ghosn personally wooed Mr. de Nysschen away from Audi last July to lead the Infiniti makeover, just a few months after he moved the brand away from Nissan?s working-class roots in Yokohama to Hong Kong?closer to the booming Chinese luxury market. Since then, Mr. de Nysschen has installed a new management team poached from high-end German car makers.

The big challenge? Explaining what an Infiniti is.

I know what a Lexus is. I don't think a Lexus is the car for me, usually, but I know who the car is for and I don't begrudge them buying one.

4th Gear: And More About That Honda/Acura Challenge

The Mother Of All American Vintage Car Collections Going To AuctionS

We've got de Nysschen trying to help out Audi, Adams trying to help out Opel and GM in Europe, and Mike Accavitti to aid in a refresh of Honda and Acura.

Brent Snavely takes a look at Accavitti, who got his start working for Lee Iacocca (pictured) after sending him a letter, it's a cute story. But here's the meat:

After looking at consumer surveys Accavitti discovered that Acura?s buyers purchase the cars for rational reasons, and it?s often hard to sell a luxury brand based purely on a rational basis.

?We need to create an emotional connection between the customer and the brand and marketing can do that,? Accavitti said.

With Honda, Accavitti wants to build on the core values such as innovation, a youthful feeling and reliability.

Right now Acura's approach appears to be: Fake it till you make it. But they have to make it.

5th Gear: How To Make Gearheads

The Mother Of All American Vintage Car Collections Going To AuctionS

The folks at Hagerty Insurance, the ones who deal with insuring our crazy classic car collections, have always seemed to me to be real car people. Every person I've worked with there appeared to have a passion for the automobile and a desire to live the lifestyle their company supports.

This story from The Detroit News supports this belief I have.

About 123 people helped rebuilt a 1969 Camaro SS through volunteer labor, skipped lunch breaks, and the like.

Many of the people who work for Hagerty are classic car experts with years of hands-on experience at maintenance and restoration. But many others don?t bring such experience to their jobs, so every year or two, the company finds a vehicle in need to restoration, recruits employees willing to get down and dirty, and rebuilds a car in the company?s garage.

This particular car was majorly damaged but, through hard work, saved the vehicle.

Here at Jalopnik we make sure all of us get together and stalk one person to make sure we connect with our company's values. Next year it's Ralph Gilles so? that sound you hear in the bushes is us!

Reverse: Route 66 Reaches The End Of The Road

Beginning in the 1950s, the building of a massive system of interstate highways made older roads increasingly obsolete, and by 1970, modern four-lane highways had bypassed nearly all sections of Route 66. In October 1984, Interstate-40 bypassed the last original stretch of Route 66 at Williams, Arizona, and the following year the road was decertified. According to the National Historic Route 66 Federation, drivers can still use 85 percent of the road, and Route 66 has become a destination for tourists from all over the world.

[HISTORY]

Neutral: Which Luxury Brand Has The Strongest Identity? What are the identities of all the luxury automakers? Which one is the strongest?

Photo Credit: Getty Images

Source: http://jalopnik.com/the-mother-of-all-american-vintage-car-collections-goin-596486944

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Paula Deen 'heartbroken' as sponsors flee

Following celebrity chef Paula Deen's admission that she used a racial slur, she has been dropped by The Food Network, Smithfield Foods and now Walmart. Deen gave a tearful interview on the 'Today' show on Wednesday.?

By Staff,?Reuters / June 26, 2013

Paula Deen appears on NBC News' "Today" show in New York. Deen dissolved into tears during the interview which followed her admission that she had used a racial slur in the past.

AP Photo/NBC, Peter Kramer

Enlarge

U.S. celebrity chef Paula Deen, under fire after she admitted using a racial slur, said in a tearful TV interview on Wednesday that she is not a racist, as retailer Walmart said it was cutting ties with the chef.

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In an interview on NBC's "Today" show, the Southern food doyenne said she never intentionally hurt anyone and that it was important for her to tell "everyone out there what I believe and how I live my life."

When asked if she felt she had racist tendencies, she replied, "No."

It was her first TV interview since The?Food Network?said Friday it would drop her show after she was sued for discrimination and admitted in a legal deposition that she had used a racial slur in the past.

Deen, who has built a business empire that includes cookbooks, restaurants and kitchen supplies, was also dropped by pork giant?Smithfield Foods?Inc last week. On Wednesday, Walmart was the latest company to sever ties.

"We are ending our relationship with?Paula Deen Enterprises," Walmart spokeswoman?Danit Marquardt?told Reuters.

Marquardt said Walmart, the biggest division of Wal-Mart Stores Inc, the world's largest retailer, will not place new orders beyond those already committed with Deen's company for branded products including groceries, cookware and candles.

The controversy surrounding Deen?erupted last week when a deposition was released in transcript form in which Deen, who is white, was asked if she had used the "N-word," and responded, "Yes, of course."

The "N-word" is a euphemism for "nigger," an epithet for black people.

The deposition related to a racial and sexual discrimination lawsuit filed by a former employee,?Lisa Jackson, who worked for Paula Deen Enterprises.

The lawsuit alleges that when Deen?discussed plans for her brother?Earl "Bubba" Hiers' 2007 wedding with Jackson, Deen?said she wanted a "true Southern plantation-style wedding."

"Well, what I would really like is a bunch of little niggers to wear long-sleeve white shirts, black shorts and black bow ties, you know in the?Shirley Temple?days, they used to tap dance around," Deen?said, according to the lawsuit.

Asked about the epithet in the deposition on Wednesday, Deen?said she had used the slur when describing, probably to her husband, how a black man robbed a bank where she was working in the 1980s. She said she had used the word since, "but it's been a very long time."

Deen recalled the bank robbery and said: "I had had a gun put to my head, a shakin' gun." She did not give a full description of that incident.

Deen says she is 'heartbroken'?

On "Today," Deen?said she was thankful for the support she has received, and also heartbroken because she has had to comfort friends distressed about things being said about her that she said were untrue.

"If there's anyone out there that has never said something that they wish they could take back, if you're out there, please pick up that stone and throw it so hard at my head that it kills me. Please, I want to meet you. I want to meet you," she said, sobbing.

The 66-year-old celebrity chef had called off a scheduled interview with NBC on Friday to discuss the situation and instead released a video defending herself.

The?Food Network, which is owned by Scripps Network Interactive Inc, later said it would not renew her contract when it expires at the end of June.

Deen's fans have voiced their support for the chef online, expressing anger on the Facebook pages for the?Food Network?and Walmart, with many saying they'll boycott both companies for severing ties with Deen.?

(Reporting by Patricia Reaney and Jessica Wohl; Editing by David Storey, Piya Sinha-Roy and Stacey Joyce)

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/JOhQXNFh2CY/Paula-Deen-heartbroken-as-sponsors-flee

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Video: Global Markets: European Shares Higher

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Source: http://www.nbcnews.com/video/cnbc/52315371/

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Wednesday 26 June 2013

Smithfield drops Paula Deen as spokeswoman

NEW YORK (AP) ? Paula Deen lost another part of her empire on Monday: Smithfield Foods said it was dropping her as a spokeswoman.

The announcement came days after the Food Network said it would not renew the celebrity cook's contract in the wake of revelations that she used racial slurs in the past.

Smithfield sold Paula Deen-branded hams in addition to using her as a spokeswoman. In a statement, the company said it "condemns the use of offensive and discriminatory language and behavior of any kind. Therefore, we are terminating our partnership with Paula Deen."

QVC also said it was reviewing its deal with Paula Deen Enterprises to sell the star's cookbooks and cookware.

"QVC shares the concerns being raised around the unfortunate Paula Deen situation," QVC said in a statement. "We are closely monitoring these events and the ongoing litigation. We are reviewing our business relationship with Ms. Deen, and in the meantime, we have no immediate plans to have her appear on QVC."

Sears said the company "is currently exploring next steps as they pertain to Ms. Deen's products." Wal-Mart, which sells Deen's cookware, was expected to have a statement later Monday.

The rapid downfall came after revelations that 66-year-old Food Network star admitted using racial slurs in the past in a deposition in a discrimination lawsuit. Deen was asked under oath if she had ever used the N-word. "Yes, of course," Deen said, though she added, "It's been a very long time."

Deen insisted she and her family do not tolerate prejudice, and in a videotaped apology, she asked fans and critics for forgiveness. It had been posted online for about an hour when the Food Network released a terse statement that it "will not renew Paula Deen's contract when it expires at the end of this month." The network refused to comment further.

Las Vegas-based Caesars Entertainment Corporation, which has Deen's restaurants in some of its casinos, said Friday that it "will continue to monitor the situation." Publisher Ballantine, which has a new Deen book scheduled to roll out this fall, used similar words.

Earlier Monday, NBC's Matt Lauer said Deen would appear Wednesday on "Today." Last week she abruptly canceled on the morning show before posting her videotaped apologies.

Source: http://news.yahoo.com/smithfield-drops-paula-deen-spokeswoman-184711870.html

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Tuesday 25 June 2013

Apple Releases iOS 7 Beta For iPad And iPad Mini With New Update, Brings Voice Memos Back

ios7Apple has released a new beta of its iOS 7 software for developers today, and the big news is that the iPad version has arrived. Back when Apple announced iOS 7, it said the tablet version would follow the iPhone version a few weeks later, and they've stayed good to that promise. The iPad version support is available from the developer channel for those registered as iOS devs.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/dCR9kBQMKg0/

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Monday 24 June 2013

Carrey kicks his 'Kick-Ass 2' for being too violent

Movies

2 hours ago

Image: Jim Carrey in "Kick-Ass 2."

Universal

Jim Carrey in "Kick-Ass 2."

"Kick-Ass 2" won't be in theaters until August, but it already has a major detractor slamming the film on Twitter: Jim Carrey, one of its stars.

Carrey took to Twitter on Sunday to denounce the film, a satirical look at the superhero genre that's a follow up to 2010's "Kick-Ass," saying that he could no longer support the film in the wake of the shootings at Sandy Hook Elementary in Newtown, Conn. last December.

The 51-year old actor, who plays Col. Stars and Stripes and pairs up with the titular superhero, later added:

The film began shooting in July 2012 and wrapped production around Thanksgiving of last year.

The creator of the comic book series "Kick-Ass" is based on, Mark Millar, shot back at the Twitter comments on his website's comments forum.

After praising Carrey's talents and his performance in the film, Millar says he was "baffled by this sudden announcement" and Carrey's timing of his thoughts. "Nothing seen in this picture wasn't in the screenplay eighteen months ago," he added.

"Like Jim, I'm horrified by real-life violence," wrote Millar, "but 'Kick-Ass 2' isn't a documentary. ... ('K)ick-Ass' avoids the usual bloodless body-count of most big summer pictures and focuses instead on the CONSEQUENCES of violence. ... Ironically, Jim's character in 'Kick-Ass 2' is a Born-Again Christian and the big deal we made of the fact that he refuses to fire a gun is something he told us attracted him to the role in the first place."

Millar also said that "our audience is smart enough to know they're all pretending and we should instead just sit back and enjoy the serotonin release of seeing bad guys meet bad ends as much as we enjoyed seeing the Death Star (in "Star Wars") exploding."

Carrey has been a proponent of gun control for some time, and recently made headlines by mocking gun enthusiasts in a short video reminiscent of "Hee Haw." He also wrote an op-ed for the Huffington Post in April, looking for some form of moderation.

"(Gun control) thugs, though menacing, are a minority but they will have their way if good people don't step forward now and make a difference," he said. "Every American has the right to speak their mind. Every American has the right to bear arms. But it is up to every American to draw the line when it comes to the type of guns that are considered a reasonable means of self-defense."

(Warning: Video has some vulgar language.)

Source: http://www.nbcnews.com/entertainment/jim-carrey-slams-his-kick-ass-2-film-being-too-6C10424009

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Ships Of War

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Ships Of War

Based on History Channel's 2013 historical drama TV series "Vikings" by Michael Hirst.

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Sunday 23 June 2013

RIP Snapjoy: The Dropbox-Acquired Photo Service Is Shutting Down

snapjoylogoSnapjoy, the online photo storage service that Dropbox acquired in December, has some bad news today for its users: it is shutting down. The company noted the information in a blog post, as well as in an email it's currently sending out to users (I am among them: I'm copying the text below).

Source: http://feedproxy.google.com/~r/Techcrunch/~3/wY5pjh4GI-Q/

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Gunmen kill nine foreign tourists and their guide in northern Pakistan

PESHAWAR, Pakistan (Reuters) - Gunmen stormed a hotel in a remote part of northern Pakistan on Sunday and killed nine foreign tourists and a Pakistani guide, police and security officials said.

Five Ukrainians, three Chinese a Russian and their guide were killed in the attack in a remote resort area near the base camp for the snow-covered Nanga Parbat mountain, a popular destination for adventurous trekkers, officials said.

"Unknown people entered a hotel where foreign tourists were staying last night and opened fire," Ali Sher, a senior police officer in Gilgit-Baltistan province, told Reuters.

Sher had earlier said 10 foreign tourists were killed, but officials revised the tally as fresh reports arrived from the area.

There was no immediate claim of responsibility.

The gunmen fled after the attack, which took place at about 1 a.m. on Sunday, Sher said.

A senior government official said a large number of security personnel had been sent to the area.

"Since the area is very remote with no roads or transport, their bodies will have to be retrieved by helicopter," the official said.

Gilgit-Baltistan, which borders China and Kashmir, had been considered one of the more secure areas of Pakistan but has witnessed a spate of attacks by militants targeting members of Pakistan's Shi'ite minority in recent years.

It was the first time foreign tourists had been attacked in the province, which is famous for its natural beauty.

Pakistan receives few foreign tourists, but a trickle of visitors are tempted by its spectacular mountain scenery in its northern areas, where the Hindu Kush and Karakoram mountain ranges converge.

(Reporting By Jibran Ahmad; Writing by Matthew Green; Editing by Nick Macfie)

Source: http://news.yahoo.com/gunmen-kill-10-foreign-tourists-northern-pakistan-police-041053224.html

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In Cairo, Egypt's 'Jon Stewart' hosts ... Jon Stewart

By Alastair Macdonald

CAIRO (Reuters) - Jon Stewart took his politically engaged American satire to Cairo on Friday, appearing on a show hosted by the man known as "Egypt's Jon Stewart", who has faced investigation for insulting the president and Islam.

Among barbs aimed at Egypt's ruling Islamists and others, Stewart praised host Bassem Youssef for taking risks to poke fun. "If your regime is not strong enough to handle a joke," he said, "then you don't have a regime."

Youssef is a cardiologist whose online comedy clips inspired by Stewart's "Daily Show" won him wild popularity and a prime-time TV show after the 2011 revolution that ended military rule. He paid tribute to his guest as a personal inspiration as the pair traded gags over Stewart's impressions of a visit to Cairo.

Stewart in turn played down any difficulties his wit created for him in the United States, telling Youssef: "I tell you this, it doesn't get me into the kind of trouble it gets you into. I get in trouble, but nowhere near what happens to you."

With Egypt still in ferment and elected Islamist President Mohamed Mursi facing off against liberals who fear he plans to smother personal freedoms, Youssef was released on bail after being questioned in March over alleged insults to Mursi and the channel he appears on was threatened with losing its license.

Criticizing such moves, which have also drawn reproaches for Egypt from the U.S. government, Stewart said: "A joke has never shot teargas at a group of people in a park. It's just talk.

"What Bassem is doing ... is showing that satire can still be relevant, that it can carve out space in a country for people to express themselves. Because that's all democracy is."

He took aim at Mursi's controversial decision this week to name a member of a hardline Islamist movement blamed for a massacre of tourists at Luxor in the 1990s as governor of that city. Having been brought into the studio hooded and presented as a "spy", he spoke a few words in Arabic before saying Egypt's president had honored him: "I am now the mayor of Luxor."

Stewart also appeared to take a gentle dig at the opposition, who hope demonstrations planned for June 30 can force Mursi from power after just a year in office. It took Americans 100 years before a president was impeached for the first time, Stewart said, "For you guys to do it in one year, it's very impressive."

Perhaps the biggest laugh in the studio, though, was for a simple crack at Egypt's perennial traffic chaos: "I know this is an ancient civilization," he said. "Have you thought about traffic lights?"

(Editing by Mohammad Zargham)

Source: http://news.yahoo.com/cairo-egypts-jon-stewart-hosts-jon-stewart-003338781.html

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Bengal Cat Breeder Speaks Out | WNEP.com - Wnep Tv

Posted on: 4:31 pm, June 21, 2013, by Jon Meyer, updated on: 07:27pm, June 21, 2013

HALLSTEAD ? The owners of a certain breed of cat are coming to the animals? defense.

After Newswatch 16 reports this week about two bengal cats biting an owner then escaping in Shamokin, WNEP has been bombarded by Bengal cat lovers throughout the world.

They say the cats are not wild animals and are very safe pets.

Breeders of the animals say while the cats may be decendents of an Asian Leopard Cat, there?s nothing wild about them, and certainly nothing to fear.

A breeder of Bengal cats in Susquehanna County said they are just like any other pet cat.

The Bengals have the spots of a leopard on what appears to be any other pet cat. Joy Powell of Temptaition Bengals near Hallstead says that?s the point.

?They have been bred to resemble a wild animal but give people the intelligent alternative that is truely a domestic pet,? said Powell. ?It?s for people who want an exotic look without an exotic personality.?

For seven years, Powell has been breeding the Bengal cats here near Hallstead, she says they are at least four generations away from their Asian Leopard Cat ancestors.

?Bengals are not wild animals,? added Powell. ?They are 100 percent domestic kitty cats and they are bred to be 100 percent pets.?

Many bengal cat lovers were outraged when they saw the story about two bengals that escaped in Shamokin after the owner says one bit her husband.

Some in Shamokin feared wild animals were on the loose. Police even called them potentially dangerous.

But Powell says any animal can bite if they?re raised wrong.

?A feral cat is a feral cat,? she said. ?It doesn?t matter whether it?s Siamese, Maine Coon or your local barn cat.? If it?s not raised around people and given the appropriate attention, it is going to be feral.?

Powell points out Bengal kittens are as lovable as any other kitten.? She raises them to fit right in with families.

?They are just like another cat,? added Powell.? ?They get along with people and dogs and cats.? They play and they sleep and they eat and use the litter. Everything a regular cat does, these cats do.?

Powell?s daughter Kyra grew up playing with the Bengals and the family?s regular pet cat.

She says Bengals certainly aren?t scary.

?They?re amazing,? said Kyra.? ?It?s just like living with any other cat except they?re Bengals.?

She said it is tough not to get attached to all the kittens born at her home.

?I cried every time one went home,? added Kyra. ?I grew so attached to them.? They?re so sweet.?

Bengal cat owners say don?t let the action of one tarnish a whole breed.

?They?re sweet companions they get along with all other pets and all other people,? said Joy.? ?They?re very friendly animals.? They?re not anything anyone needs to be afraid of by no means.?

Bengal cats can be very expensive. At Joy Powell?s Temptation Bengals in Susuquehanna County the cost can range from $600 a kitten to more than $2,000.

They come with paperwork, just like top breeds of dogs.

As for those Bengals in Shamokin, they still haven?t bee

Source: http://wnep.com/2013/06/21/bengal-cat-breeder-speaks-out/

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Saturday 22 June 2013

Obama: Time for excuses on immigration is over

WASHINGTON (AP) ? Declaring "the time for excuses is over," President Barack Obama is trumpeting the economic benefits of an immigration overhaul, arguing that a bipartisan bill picking up steam in the Senate would put the nation's loathed deficits and fragile entitlements on better footing.

A recent analysis from the Congressional Budget Office, lawmakers' nonpartisan scorekeeper, was Exhibit A in Obama's weekly radio and Internet address Saturday. The report shows deficits would fall nearly $1 trillion over two decades after the bill becomes law.

What's more, Obama said, the influx of immigrant-driven investment, technology and businesses would give the economy a 5 percent shot in the arm.

"This bipartisan, common-sense bill will help the middle class grow our economy and shrink our deficits, by making sure that every worker in America plays by the same set of rules and pays taxes like everyone else," he said.

Confidence that the overhaul could pass the Senate by impressive margins is growing, and leaders scheduled a test vote on the bill for Monday, with a final vote expected by the end of next week. Although the heart of the bill is a 13-year pathway to citizenship for millions living in the United States illegally, it was a military-style surge to U.S.-Mexican border security, added this week to placate wary Republicans, that was credited for giving the bill a much-needed boost.

Obama didn't specifically address the border amendment Saturday, but he did note that the bill "would continue to strengthen security at our borders." Despite concerns from some Democrats that the security provisions ? 20,000 new agents, 350 miles of new fencing, 18 new unmanned drones ? are overkill, Obama spokesman Jay Carney said Friday it would constitute a "breakthrough" that the White House applauded.

"The bill isn't perfect. It's a compromise," Obama said, reprising a line he's used throughout the process when Democrats have complained the bill has become too conservative. "But it's consistent with the principles that I and others have laid out."

In the Republican address, Rep. John Kline of Minnesota says Obama must show leadership to avoid an impending hike on student loan interest rates. He said it's fortunate that Obama and House Republicans agree on the issue and have both proposed plans that would tie interest rates to the market. He accused Senate Democrats of blocking each plan.

"If I didn't know any better, I would say they are content to let rates double," Kline said. "This eleventh-hour scrambling is a perfect demonstration of why we need to take the politics out of student loans once and for all."

___

Online:

Obama address: www.whitehouse.gov

GOP address: www.youtube.com/HouseConference

Source: http://news.yahoo.com/obama-time-excuses-immigration-over-100152943.html

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Nokia M&A talk stirs share valuation rethink

By Ritsuko Ando

HELSINKI (Reuters) - Investors alert to M&A speculation around Nokia are taking a fresh look at whether the struggling mobile handset maker's share price undervalues its assets and increasing signs of financial stability.

Reports of interest from Huawei and Microsoft show Nokia is still vulnerable but several analysts said they were more optimistic since plunging sales and alarming cash burn raised fears of default several months ago.

They said there was no contradiction between a resurfacing of M&A talk and some signs that Nokia might recover from a mauling by rivals Samsung and Apple in the key smartphone segment in recent years.

"The company's not in a crisis like it was a year ago. That makes Nokia now more likely to be a target of merger or acquisition," said Mikael Rautanen, an analyst at equities research firm Inderes.

The Wall Street Journal on Wednesday reported that Microsoft recently considered buying Nokia's devices business, but that talks failed over price.

Nokia officials declined to comment on the report on Wednesday and on Thursday.

That followed comments by a Huawei executive to the Financial Times that it was "open-minded" about acquiring Nokia, although the Chinese company later denied plans to buy Nokia.

Nokia shares have risen around 14 percent to 3 euros over the past week on the reports as well as news that Siemens was in talks to sell its stake in their equipment joint venture, Nokia Siemens Networks.

SHRUNKEN VALUE

Nokia's current market capitalization around 10 billion euros is a shadow of its peak around 200 billion in 1999.

But some analysts, who mostly have a price target of around 3 euros on Nokia shares, say the company's underlying value, including intellectual property, its navigation business HERE and stake in NSN, is closer to 5 euros.

"If I just look at the different assets, I arrive at a value of that's clearly above 3 euros," said Swedbank analyst Hakan Wranne, who also has a target of 3 euros on the shares. He was wary of predicting recovery but acknowledged improvement.

"We had the perception of a great default risk last fall and I think that's not there anymore," he said.

"It is undervalued, although it's only undervalued if they succeed," said Jyske Bank analyst Robert Jakobsen, who has a "buy" rating.

"We're not entirely out of the uncertainty. But I'm seeing improvement and I'm not seeing that reflected that much in the stock price."

Credit markets have mirrored receding fears over the future of the fallen mobile phone titan.

Its 6.625 percent bond maturing in May 2019 has recovered around 20 points over the last year and its five-year CDS has almost halved over the same period.

Spreads on Nokia's outstanding bonds shrank on Thursday following the report on talks with Microsoft.

QUICKER PACE

First-quarter results shocked markets with a steeper-than-expected fall in sales of cheaper mobile phones, but investors said growth in Lumia sales and a better-than-expected cash position raised hopes the business was stabilizing.

Nokia has unveiled handsets in multiple price categories in the past few months, and is expected to unveil a smartphone with an advanced lens in July.

The faster pace in product launches has also improved sentiment.

Nokia executives say they have halved the time to launch smartphones from three years ago, when it took 22 months to come to market with a single handset.

In May, Nokia launched the Lumia 925, a lighter and slimmer model of its high-end smartphone range. It has also been focusing on lower-priced handsets and in February launched a 15-euro basic phone aimed at first-time buyers.

Some investors were particularly encouraged by the May launch of the $99 Asha 501, which straddles the feature phone and smartphone market in a category seen increasingly crucial as the high-end market becomes saturated.

"The new Asha launch, to some extent, answered fears that I had on the volume decline." said Antti Karessuo, portfolio manager at Pohjola Asset Management, one of Nokia's top 15 investors.

"Things are looking better, and we're more optimistic than we were before."

Nokia still has a long way to go to reverse its decline.

Apple and Samsung together commanded around half of the global market for smartphones last year by sales volume, and accounted for around 90 percent of profits thanks to their high margins, according to ABI Research.

Nokia CEO Stephen Elop remains under pressure to convince investors that his controversial decision in 2011 to switch to Microsoft's operating system was right.

But the Kantar WorldPanel Survey earlier this month showed the Windows Phone grew the fastest of any smartphone operating system in the three months to April, albeit from a low base.

Its share in the United States rose to 5.6 percent from 3.8 percent a year earlier. In the UK, it doubled to 8.4 percent.

Source: http://news.yahoo.com/nokia-m-talk-stirs-share-valuation-rethink-164338891.html

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FOR KIDS: Fat becomes a disease

Medical group decides it is time for doctors to view ? and treat ? obesity as a disease

Medical group decides it is time for doctors to view ? and treat ? obesity as a disease

By Janet Raloff

Web edition: June 21, 2013

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Heavy reassessment

One in three U.S. adults is obese, as are many children and teens. The excess flab puts them at elevated risk for a range of life-threatening diseases, from cancer to diabetes.

Credit: iStockphoto

On June 18, the American Medical Association?s House of Delegates signed off on a statement arguing that obesity is a disease. It said that obesity ? the condition of being excessively overweight ? meets all of AMA?s criteria for defining a disease. These criteria include impairing normal functions of the body, having characteristic signs or symptoms and leading to harm or poor health.

Some people have argued that obesity is not a disease but just the unhealthy result of lifestyle choices to eat too much and to exercise too little. But the new AMA policy statement rejects that idea. It states that such an attitude makes as little sense as ?suggesting that lung cancer is not a disease because it was brought about by individual choice to smoke cigarettes.?

Source: http://www.sciencenews.org/view/generic/id/351171/title/FOR_KIDS_Fat_becomes_a_disease

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