Ex-’Price is Right’ model gets $8.5M in damages
















LOS ANGELES (AP) — The producers of “The Price is Right” owe a former model on the show more than $ 7.7 million in punitive damages for discriminating against her after a pregnancy, a jury determined Wednesday.


The judgment came one day after the panel determined the game show’s producers discriminated against Brandi Cochran. They awarded her nearly $ 777,000 in actual damages.













Cochran, 41, said she was rejected when she tried to return to work in early 2010 after taking maternity leave. The jury agreed and determined that FremantleMedia North America and The Price is Right Productions owed her more than $ 8.5 million in all.


“I’m humbled. I’m shocked,” Cochran said after the jury announced its verdict. “I’m happy that justice was served today not only for women in the entertainment industry, but women in the workplace.”


FremantleMedia said it was standing by its previous statement, which said it expected to be “fully vindicated” after an appeal.


“We believe the verdict in this case was the result of a flawed process in which the court, among other things, refused to allow the jury to hear and consider that 40 percent of our models have been pregnant,” and further “important” evidence, FremantleMedia said.


In their defense, producers said they were satisfied with the five models working on the show at the time Cochran sought to return.


Several other former models have sued the series and its longtime host, Bob Barker, who retired in 2007.


Most of the cases involving “Barker’s Beauties” — the nickname given the gown-wearing women who presented prizes to contestants — ended with out-of-court settlements.


Comedian-actor Drew Carey followed Barker as the show’s host.


___


Anthony McCartney can be reached at http://twitter.com/mccartneyAP .


Entertainment News Headlines – Yahoo! News



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Do drunks have to go to the ER?
















NEW YORK (Reuters Health) – With the help of a checklist, ambulance workers may be able to safely reroute drunk patients to detoxification centers instead of emergency rooms, according to a new study.


Researchers in Colorado found no serious medical problems were reported after 138 people were sent to a detox center to sleep it off, instead of to an ER.













In 2004, according to the researchers, it’s estimated that 0.6 percent of all U.S. ER visits were made by people without any problems other than being drunk. Those visits ended up costing about $ 900 million.


“Part of the issue has been – as it is in many busy ER departments – there’s a lot of chronic alcoholics that are brought in by ambulance, police or just come in. Often they are brought in because they have not committed a crime or there is limited space in our detoxification center. So the majority were brought to the ER department,” said Dr. David Ross, the study’s lead author from Penrose-St. Francis Health Services in Colorado Springs.


Ross said the ambulance company where he serves as medical director created the checklist with the help of the local detox center, which provided limited medical care by a nurse, and the local hospitals to reduce the number of drunks without medical needs being sent to the local ERs.


They created a checklist with 29 yes-or-no questions, such as whether the patient is cooperating with the ambulance worker’s examination and if the patient is willing to go to the detox center.


The patient was sent to the ER if the ambulance worker checked “no” on any question.


The researchers then went back to look at the patients they transported between December 2003 and December 2005 to see whether or not any of them ended up having serious medical problems at the detox center.


During that two year period, the ambulance workers transported 718 drunks. The detox center received 138 and the local ERs got 580.


Overall, 11 of the patients who were taken to detox were turned away because there was no room, their blood alcohol level exceeded the limit, their family came to pick them up or they were combative.


Another four patients at the detox center were taken to the ER because of minor complications, including chest and knee pain. However, there were no serious complications reported.


“We really believe that we did not miss anybody with a serious illness and injury that didn’t go to the ER as they should have,” said Ross.


But the researchers write in the Annals of Emergency Medicine that their study did have some limitations.


Specifically, the researchers did not plan in advance to do a study when they were creating the checklist, which means their findings are limited to whatever information was collected at the detox center and ERs.


Also, the number of people who were sent to the detox center in their study is relatively small, so it’s hard to tell how many serious complications they’d see among a larger group of people.


“We tried to estimate how likely we would have been to encounter a serious event… We estimated at most we’d encounter three serious adverse events (in 748 patients),” Ross told Reuters Health.


SOURCE: http://bit.ly/QgPCT5 Annals of Emergency Medicine, online November 9, 2012.


Health News Headlines – Yahoo! News



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More government action on mergers

















The government plans to become more active in mergers and acquisitions involving UK companies.













The decision is part of the government response to the Kay Review into how to discourage short-termism in markets.


The government has decided it should “engage with companies and their investors… to promote investment which benefits the UK economy”.


Professor John Kay called for it to discourage acquisitions that would threaten a firm’s operations in the UK.


The government’s response comes in the week that the acquisition of Autonomy, which was once Britain’s biggest software company, by Hewlett Packard of the US has ended in acrimony and allegations of financial misbehaviour.


‘No blanket regulation’


The Kay Review was commissioned by Business Secretary Vince Cable and published in July.


The Department for Business, Innovation and Skills endorsed Prof Kay’s 10 principles for stock markets, which were designed to encourage more focus on the long-term returns from businesses rather than short-term profits.


Prof Kay also called for the way that directors are paid to be changed to encourage more long-term thinking.


He suggested that bonuses should only be paid in shares that could not be sold until after an executive left the company.


The government responded that it “does not believe there is a case for blanket regulation”, but hopes that its reforms, designed to empower shareholders and create more transparency in remuneration, will help bring about such good practice.


Similarly, Prof Kay proposed that bankers and investment managers should receive bonuses either in the form of shares in the firms for which they work, or an interest in the investment funds they manage.


Again, such shares could not be sold until they left the company.


The government plans to promote this as best practice rather than imposing it through regulation.


The application of Good Practice Statements for company directors, bankers and investors are to be encouraged by the government.


BBC News – Business



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Some gifts fall into the love-it-later category
















NEW YORK (AP) — Have you ever said “thank you” through clenched teeth? The gift in that nicely wrapped box was so not what you wanted: comfy clothes instead of designer duds, or a kitchen gadget instead of a shiny piece of jewelry.


Sometimes, though, the best gifts are the ones you use, and, frankly, most of us probably wear hoodies more than haute couture.













With a closet full of beautiful boots and gravity-defying heels, flat-foot, furry Uggs weren’t at the top of celebrity stylist-designer Rachel Zoe‘s shopping list. They were OK for other people — she might even have suggested them — but she didn’t see them fitting into her closet until someone gave her a pair.


“Once you put them on, you can’t go back,” Zoe says. “In my house, it’s now the family at-home shoe. I wear them all the time. My son has 10 pairs and my husband has 10 pairs.”


Bradford Shellhammer, founder of Fab.com, which sells unusual items like canvas carryalls screen-printed with images of designer handbags, says gifts fit into three categories: the things everyone knows you want, the bad surprises and the amazing things that make you wonder, “How did I live without it?”


A. Mitra Morgan, founder and chief curator of decorative home-goods website Joss & Main, can’t imagine her busy life without the wallet-phone case wristlet her mother gave her last year.


Morgan has almost unlimited access to the pretty things on so many gift lists. Her mother, however, thought her daily necessities were too scattered. She didn’t know it at the time, Morgan admits, but mom was right.


Morgan received another love-it-later gift, this one from her husband. He gave her flat-bottomed pizza scissors.


“Coming from my husband, this was at the level of receiving a vacuum. I thought, ‘Really, this is what we’ve come to?’” Morgan says. “But it’s awesome!”


Christine Frietchen, a shopping expert who is advising TJ Maxx and Marshall’s this year on their gift-giving programs, says a gift is something you wouldn’t get for yourself. And the best way to know you’ve given a successful gift, she says, is if the receiver becomes an evangelist for it.


Adam Glassman, creative director at O, The Oprah magazine, was never at risk of buying the Patagonia fleece sweatpants his brother got for him a few years ago. “Never in my life did I think I’d need sweatpants, but I live in them,” he gushes. “When I come home from work, they are my go-to item. I wear them more than any other clothes in my closet.”


The only gift he might treasure more is the Eddie Bauer silk long johns his other brother gave him, something else he didn’t think he needed or wanted.


“Where was the Tom Ford, the Gucci?” Glassman says with a laugh.


But after a few winters of layering the long johns under his more fashionable pieces, he’s now buying them as gifts for other people.


Shellhammer says friends and family can’t ask for the items offered on Fab.com because the website sells things people don’t know exist. Items such as a shower curtain with a map of Paris (what enthusiastic traveler wouldn’t want one?) or a pug T-shirt for your favorite dog lover. (Shellhammer predicts the Mountain Pug Tee will be a top seller this season. The entire shirt becomes the face of a pug, wrinkles, jowls and all.)


And Shellhammer says it’s OK to be playful and show a little sense of humor when giving a gift. You’d be surprised how many positive comments the website has received about a hedgehog dish brush, he says. “It just gives you that crack of a smile.”


Brian Berger says the Yumaki toothbrush his business partner gave him is a present he’ll always remember — and appreciate. And, it’s something he uses every day.


His partner was trying to make a point as he and Berger recently launched a men’s undergarment and socks business called Mack Weldon that also is courting customers with the idea of “elevated basics,” Berger explains.


Some other gift ideas from the experts:


—Kitchen knives.


—Comfortable earbuds.


—Colorful tights and leggings.


—Berry bowls.


—Miniature flashlights that fit in pockets and purses.


—Pretty soaps.


—Personalized tote bags.


A lot of people do skimp on themselves, especially in a season where they are spending so much money, so an upgrade of something mundane to luxurious — or at least more fun — can be a very thoughtful gift, says gift advisor Frietchen.


“Have you ever had a really nice hairdryer, a REALLY good dryer? You think a hairdryer is a hairdryer until you have a good one in your hand. It can change your life,” Frietchen says.


Gadgets News Headlines – Yahoo! News



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McCartney, Houston, Dylan lead Grammy Hall of Fame inductees
















LOS ANGELES (Reuters) – Music by Paul McCartney, Bob Dylan, Elton John and late singers Whitney Houston and James Brown will be inducted into the 2013 Grammy Hall of Fame, The Recording Academy said on Wednesday.


Paul McCartney & Wings‘ 1973 album “Band on the Run,” long credited with reigniting McCartney’s career following the Beatles’ split in 1970, was one of the 27 new inductees into the Grammy Hall of Fame, on display at the Grammy Museum in downtown Los Angeles.













Houston‘s self-titled 1985 debut album was also named an inductee, following the singer’s sudden death aged 48 in February this year. Australian hard-rock band AC/DC’s top-selling 1980 “Back in Black” album was also named a new entry.


The Recording Academy, which also runs the Grammy awards, picks songs and albums from all genres that are at least 25 years old, with either “qualitative or historical significance” to be considered annually for the Grammy Hall of Fame by a committee.


“Memorable for being both culturally and historically significant, we are proud to add (the 2013 inductees) to our growing catalog of outstanding recordings that have become part of our musical, social and cultural history,” The Recording Academy President and CEO Neil Portnow said in a statement.


As well as albums, the Grammy Hall of Fame also includes songs of historic and cultural significance and the inductees for 2013 see a range of classic American songs.


Iconic Dylan song “The Times They Are A-Changing” from 1964, R&B singer Ray Charles’ 1961 tune “Hit the Road Jack,” Rat Pack star Frank Sinatra’s 1980 “Theme from ‘New York, New York’”, and ‘Godfather of soul’ James Brown‘s 1965 classic “I Got You (I Feel Good)” were all honored.


Other 2013 inductees include Elton John‘s 1970 self-titled second album and American debut, Billy Joel’s 1973 hit “The Piano Man” and Willie Mae “Big Mama” Thornton’s 1953 R&B classic “Hound Dog,” later covered by Elvis Presley.


(Reporting By Eric Kelsey; Editing by Piya Sinha-Roy and Andrew Hay)


Celebrity News Headlines – Yahoo! News



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Medication cuts crime rate among ADHD sufferers
















LONDON (Reuters) – Criminal behavior in adults with attention deficit hyperactivity disorder (ADHD) drops sharply when they take stimulant drugs like Ritalin to help them to control impulses, scientists said on Wednesday.


A study of more than 25,000 people with ADHD found the number of crimes committed was about a third or more lower in those taking medication, suggesting that encouraging ADHD patients to stay on the pills could cut the risk of crime.













Past international studies show up to two-thirds of young offenders and half the adult prison population screen positively for childhood ADHD, and many may still have symptoms as adults.


British and Swedish researchers who conducted the new study found that patients who went through periods on and off ADHD drugs had a significantly reduced risk of engaging in criminal activity when they were medicated.


“The bottom line is that medication led to a 32 percent reduction in crime rates in men and a 41 percent reduction in crime rates in women,” said Seena Fazel, a forensic psychiatrist at Britain’s Oxford University who presented the findings at a briefing in London


Paul Lichtenstein of Sweden’s Karolinska Institute, who worked with Fazel and colleagues, said the results suggested that encouraging more ADHD sufferers to take medication could help to reduce crime and re-offending rates.


“It’s said that roughly 30 to 40 percent of long-serving criminals have ADHD. If their chances of recidivism can be reduced by 30 percent, it would clearly affect total crime numbers in many societies, he said in a statement.


Some 5 percent of school-age children and around half as many adults worldwide have ADHD, a disorder characterized by distractedness and impulsive and sometimes violent behavior.


In the United States, it is one of the most common childhood disorders with an average of 9 percent of children between the ages of five and 17 are diagnosed with it each year.


Previous studies have shown that people with ADHD have on average less education and lower incomes, higher rates of unemployment, divorce and substance abuse, and are more likely to enter a life of crime. But until now health experts were not clear how medication might be affecting the crime risk.


“We’ve shown that ADHD medication very probably reduces the risk of crime,” said Henrik Larsson of the Karolinska Institute. “However … most medical treatments can have adverse side effects, so risks must be weighed up against benefits.”


Ritalin, known generically as methylphenidate, is sold by the Swiss drugmaker Novartis and is widely used in developed countries to help people with ADHD to concentrate better and control impulsiveness. Other ADHD drugs include Johnson & Johnson’s Concerta, Shire’s Adderall and Vyvanse and Eli Lilly’s Strattera.


Philip Asherson, an ADHD expert from Britain’s Institute of Psychiatry who was not involved in this research but was speaking at the London briefing, said the findings could point to a cost-effective way to help patients stay out of trouble.


In Britain for example, a month’s supply of ADHD medication costs around 300 pounds per patient, he said – a fraction of the cost to society of keeping someone in prison.


Asherson stressed however that decisions about medication should be a personal choice.


The study was published in the New England Journal of Medicine on Wednesday.


(Reporting by Kate Kelland; editing by Stephen Nisbet)


Medications/Drugs News Headlines – Yahoo! News



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HP’s Financial Mess Is Making Everyone Sorry
















You know who’s probably having the best day ever? Try Mark Hurd, the guy who had to resign as chief executive of Hewlett-Packard (HPQ) in August 2010 under a cloud of HR shadiness.


Due in large part to the incompetence of the management that replaced him, and the board that oversaw it all, shares of the venerable Silicon Valley pioneer have since fallen 75 percent, visiting lows unseen since the mid-1990s. Just days after the firing, in letter sent to the New York Times, Hurd’s friend and soon-to-be-new boss, Oracle (ORCL) CEO Larry Mr. Ellison, declared: “The H.P. board just made the worst personnel decision since the idiots on the Apple (AAPL) board fired Steve Jobs many years ago.” Three weeks after his departure from HP, Hurd gave notice of his plans to cash out of more than $ 30 million in company stock.













Today, Hurd and Ellison, both at Oracle (now worth more than six HPs) must be belting out thunderous buhaahahhas. On Tuesday, Hewlett-Packard announced an $ 8.8 billion charge, citing “a willful effort to mislead investors and potential buyers” at Autonomy, the U.K. software company Hurd’s short-lived replacement, Leo Apotheker, agreed to purchase for $ 10.3 billion.


“HP is extremely disappointed to find that some former members of Autonomy’s management team used accounting improprieties, misrepresentations, and disclosure failures to inflate the underlying financial metrics of the company, prior to Autonomy’s acquisition by HP,” Hewlett-Packard said in a statement.


Autonomy aside, HP forecast fiscal first-quarter earnings that missed analysts’ estimates amid a continued decline of its personal computer franchise. As for the fourth quarter: HP registered a net loss of $ 6.85 billion, compared with net income of $ 239 million a year earlier. It’s just the latest in a tragicomic series of largely self-inflicted wounds that have felled the tech giant. So what now? For starters, some freshly served mea culpas.


CEO Meg Whitman took to CNBC to publicly regret voting for the Autonomy deal when she was just a board member.


One investor who should be taking a major bow on HP is short-seller Jim Chanos, who this summer warned HP was the “ultimate value trap.” Looking ahead, it all raises the question: How much more time will shareholders give Meg Whitman and her board to turn around a supertanker that increasingly looks like it’s taking on water?


According to Jefferies (JEF) analyst Peter Misek, despite HP’s seemingly sufficient cash flow, its dividend “could be in serious danger” next year. While the company’s diminished market capitalization of $ 23 billion makes it look ripe for activist agitation or even euthanasia-by-takeover—Oracle, anyone?—directors have already moved to silence an internal agitator in their ranks.


ISI Group analyst Brian Marshall apologized to clients for recommending the stock: “We can no longer recommend investors buy shares of HP at current levels as negative information continues to pour out, the end is not in sight, and we no longer understand what we are ‘playing for.’ … HP has become the ‘quintessential value trap’ as material negative news overrides any small positive developments and forward estimates continue to decline at a rapid rate. We apologize to investors for our extremely poor performance on this attempted ‘value’ play.”


For added measure, Marshall quipped that HP has “more shoes than Imelda Marcos.”


Businessweek.com — Top News



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Review: Gift guide to full-size tablets
















NEW YORK (AP) — Tablets are at the top of many wish lists this holiday season. But what to get? The choice used to be pretty limited, with the iPad dominating the latecomers. But this year, the field is more even, as tablets from Apple‘s competitors have matured. In addition, Google and Microsoft are diving in with their own tablets, providing more choice.


The first step in the buying process is to decide on the size of the tablet. They fall into two rough categories: the full-sized tablet, pioneered by the iPad, and the half-size tablet, epitomized by the Kindle Fire.













Full-sized tablets, which generally have screens measuring about 10 inches on the diagonal, are better for surfing websites designed for PCs, and far better when it comes to displaying magazines and documents. Overall, they go further toward replacing a laptop. They cost $ 400 and up.


Half-sized tablets, which have screens measuring roughly 7 inches on the diagonal, are cheaper and lighter, but just as good as full-sized tablets for e-book reading. It’s an excellent first computing device for a kid, or a gentle nudge into the digital world for an older adult with little computing experience. This year’s crop costs $ 199 and up, but last year’s models are available for less.


If you’ve settled on a large tablet, here are some top choices. A review of smaller tablets ran Monday.


— Apple iPad, fourth generation (starts at $ 499)


Apple usually updates the iPad once a year, so it was a surprise when it dropped a new model in October, with a faster processor and the new “Lightning” connection and charging port, replacing the wide port inherited from the iPod. Like the third-generation iPad launched in March it has an ultra-high-resolution “Retina” screen. The model’s resolution of 2,048 by 1,536 pixels is only surpassed by the Google Nexus 10.


That means the current iPad is two generations ahead of the iPad 2 that was on sale last holiday season. It packs enough improvements to make the upgrade worth it. The iPad 2 is still on sale for $ 100 less, but it’s not a very good value for the money: if $ 400 is all you can spend, there are better tablets out there than the iPad 2.


While other tablets are starting to approach it in terms of hardware, the iPad still enjoys the best support by far from third parties, both in terms of quality applications and accessories like cases.


One caveat: the base model of the iPad has only 16 gigabytes of storage, which fills up fast these days. The thoughtful giver goes for at least a 32-gigabyte model, for $ 100 more.


Other than that, there are few downsides to the iPad: no one will frown when opening this package.


— Barnes & Noble Nook HD+ (starts at $ 269)


For a book store, Barnes & Noble makes some amazing tablets. The HD+ is its first model that approaches the iPad in size, with a screen that’s 9 inches on the diagonal. That makes it slightly smaller than the iPad, and the resolution is lower as well, but still very respectable. At 1,920 by 1,280 pixels, it can show more detail than a living-room HDTV.


The Nook is family-friendly too. You can create user accounts and restrict them from certain content, so there’s less risk that your kids will stumble on your copy of “Fifty Shades of Grey.”


Like the basic iPad, the basic Nook HD+ comes with just 16 gigabytes of storage memory, but it can be expanded with a microSD memory card. That means another 32 gigabytes will cost you just $ 25 — a good deal.


But the Nook is the least versatile tablet in our roundup. The number of apps available is small, and it’s focused on Barnes & Noble content like e-books, magazines and movies. It doesn’t have any cameras, while the competitors have two each. It’s best for someone who’s likely to stick to media consumption, and doesn’t need the latest apps and games.


— Samsung Galaxy Note 10.1 (starts at $ 499)


If the Nook is for the avid reader or movie watcher, the Galaxy Note 10.1 is for the creative type. It’s the only tablet in our roundup that comes with a “pen” that can be used to write and draw on the screen. In our test, this worked well, though the number of apps that take advantage of the pen is still small. (Other tablets, like the iPad, only respond to finger-like objects, so third-party styluses for them are of necessity thick and clumsy.)


The Note 10.1 runs Google‘s Android software, giving it access to a wide array of apps originally written for smartphones. The selection is not on par with the iPad’s but better than other alternatives.


The Note’s screen falls into the low-resolution category, sporting 1,280 by 800 pixels. That’s a third of what the iPad musters.


Like the Nook, the Note 10.1′s storage memory can be expanded with cards.


The Note’s appeal is somewhat niche, but it could be just the thing for the budding or established artist.


— Microsoft Surface (starts at $ 499)


Microsoft’s first tablet seems at first like a throwback to the first iPad. It’s thick, heavy and rugged. But it’s really doesn’t have much in common with the first iPad or any Apple- or Google-powered tablet. It runs Windows RT, a version of Windows 8 adapted for tablets. It comes with a version of Microsoft’s Office suite and the ability to connect to wireless printers and some other peripherals, like USB drives. The covers for it have functional keyboard printed on the inside.


The screen resolution is 1,366 by 768 pixels, placing it in the low-resolution category.


The Surface screams “work, work, work.” It’s the tablet for those who are wedded to Word and want to take their writing on the go.


One thing to note about the Surface: the basic model starts out with “32 gigabytes” of memory, but of that, only 16 gigabytes are available to the user. It accepts memory cards of up to 64 gigabytes, however, so expanding the memory is cheap.


Note that even though it runs Windows, the Surface doesn’t run standard Windows applications. It will run only programs specifically adapted for Windows RT. The selection is, for now, quite limited.


— Asus Vivo Tab RT (starts at $ 599 with a dock)


Asus has a quality line of Android tablets they call “Transformer” because they dock into a keyboard with an extra battery. The combination folds up just like a small laptop and has excellent battery life. The Vivo Tab RT essentially takes a Transformer and stuffs it with Windows RT instead of Android.


The tablet part is smaller and thinner than the Surface. Together with the keyboard, it makes for a familiar little setup: a tiny laptop running Windows. Like the Surface, it has a memory card slot and a USB port. The screen resolution is the same.


The Vivo Tab is a good tool for those who want to get some work done on the commute or plane, or those who can’t decide if they want a laptop or a tablet.


— Google Nexus 10 (starts at $ 399)


This is Google’s first full-size tablet and the only tablet from any manufacturer that beats the screen resolution of the iPad. It boasts 2,560 by 1,600 pixels, a third more than the fourth-generation iPad.


It’s also the only tablet in this roundup that has speakers on either side of the screen when it’s held horizontally, making for good stereo reproduction when you’re watching movies. It has a grippy, rubberized back and widely rounded corners. There’s no memory card slot or an option for a cellular modem.


The array of third-party software is wide, just as it is for the Note 10.1. Most people don’t associate Google with online books, music or movies, so it may feel odd that the Nexus steers buyers to Google’s Play store. Of course, given the open nature of Google’s Android operating system, there are apps available for other entertainment stores, including Amazon’s, and for streaming services like Netflix.


The Nexus 10 is a snappy performer, and among the iPad’s competitors, it comes the closest to matching the versatility of Apple products.


___


Peter Svensson can be reached at http://www.twitter.com/petersvensson


Gadgets News Headlines – Yahoo! News



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Elmo puppeteer Clash resigns following new sex claims
















NEW YORK (Reuters) – Kevin Clash, the puppeteer behind the “Sesame Street” character Elmo, resigned on Tuesday following new allegations that he had sex with an underage boy, adding to an ongoing controversy involving one of America’s most popular children’s brands.


In a lawsuit filed on Tuesday, Cecil Singleton is seeking more than $ 5 million in damages from Clash. Singleton claims he met the then-32-year-old puppeteer in 1993 in a gay chat room when he was 15.













It added that on numerous occasions over a period of years Clash engaged in sexual activity with Singleton.


The news came just a week after another man recanted his claims that Clash had sex with him when he was 16 years old.


Clash, 52, said he was leaving Sesame Workshop, the company behind the television show, after nearly 30 years with a very heavy heart.


“I have loved every day of my 28 years working for this exceptional organization. Personal matters have diverted attention away from the important work Sesame Street is doing and I cannot allow it to go on any longer,” he said in a statement issued by his publicist, Risa B. Heller.


“I am deeply sorry to be leaving and am looking forward to resolving these personal matters privately,” he added.


The New York-based Sesame Workshop said it was a sad day for “Sesame Street,” which premiered in 1969 and has been educating and entertaining children for decades with characters such as Elmo, Big Bird, Bert and Ernie, Oscar the Grouch and Cookie Monster.


“Unfortunately, the controversy surrounding Kevin’s personal life has become a distraction that none of us wants, and he has concluded that he can no longer be effective in his job and has resigned from Sesame Street,” the company said in a statement.


A representative declined further comment.


The unnamed 23-year-old man who first accused Clash recanted his claims last week, saying the relationship was consensual. His lawyers were not immediately available to comment on the lawsuit.


Clash had denied the allegations and acknowledged a past relationship with his first accuser. He added the pair were both consenting adults at the time.


“I am a gay man. I have never been ashamed of this or tried to hide it,” Clash said at the time.


Sesame Workshop said the first allegations involving Clash came to its attention in June when the earlier accuser contacted the company by email.


The Elmo character debuted on “Sesame Street” in 1979. While Clash was the third performer to animate the child-like shaggy red monster, Sesame Workshop credits him with turning Elmo into the international sensation he became.


(Reporting by Patricia Reaney; additional reporting by Steve Gorman; Editing by Ellen Wulfhorst and Cynthia Osterman)


Celebrity News Headlines – Yahoo! News



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Ex-hedge fund trader charged in $276M insider ploy
















NEW YORK (AP) — A former hedge fund portfolio manager was arrested Tuesday in what prosecutors called perhaps the most lucrative insider trading scheme of all time — an arrangement to obtain secret, advance results of tests on an experimental Alzheimer’s drug that netted more than $ 276 million for his fund and others.


The case also led authorities to investigate the activities of one of the nation’s wealthiest hedge fund managers, billionaire Steven A. Cohen.













The portfolio manager, Mathew Martoma, was accused in U.S. District Court in Manhattan of using the information to advise other investment professionals to buy shares in the companies developing the drug, then later to dump those investments and place financial bets against the companies when the tests returned disappointing results.


“The charges unsealed today describe cheating coming and going,” U.S. Attorney Preet Bharara said at a news conference. The scheme unfolded “on a scale that has no historical precedent.”


Martoma’s trades helped reap a hefty profit from 2006 through July 2008, while he worked for CR Intrinsic Investors LLC of Stamford, Conn., an affiliate of SAC Capital Advisors, a firm owned by Cohen.


Cohen is not referred to by name in court papers but is frequently alluded to for his dealings with the defendant in the weeks leading up to an announcement about the drug trial.


The government has been scrutinizing SAC since at least November 2010, when the FBI subpoenaed SAC and other influential hedge funds. Martoma is the fourth person associated with SAC Capital to be arrested on insider trading charges in the last four years.


SAC spokesman Jonathan Gasthalter said the company and Cohen “are confident that they have acted appropriately and will continue to cooperate with the government’s inquiry.”


The FBI said the scheme developed after Martoma met a doctor in Manhattan involved in an Alzheimer’s drug trial in October 2006. According to a criminal complaint, he later obtained confidential information related to the final results of a drug trial.


Martoma’s attorney, Charles Stillman, called his client “an exceptional portfolio manager who succeeded through hard work and the dogged pursuit of information in the public domain. What happened today is only the beginning of a process that we are confident will lead to Mr. Martoma’s full exoneration.”


Martoma was arrested at his home in Boca Raton, Fla., and made an initial appearance in federal court in West Palm Beach, Fla., where he was released on $ 5 million bail on charges of conspiracy to commit securities fraud and securities fraud. He was scheduled to return to court Monday in Manhattan.


The defendant will have great incentive to cooperate with the government because the size of the gains would add years, if not decades, to any potential sentence upon conviction, said John Sylvia, co-chairman of the securities litigation practice at the Mintz Levin law firm in Boston.


He said it was clear from reading the court papers that Cohen was referenced frequently and was a likely target of investigators, though they might not be able to build a sufficient case against him.


“There’s little doubt as to where the government’s sights are,” Sylvia said. “I don’t think it takes Sherlock Holmes to figure it out.”


The Securities and Exchange Commission filed civil papers in the case against CR Intrinsic Investors, Mathew Martoma and Dr. Sidney Gilman. The civil complaint said the illegal money was earned in July 2008, when various hedge funds traded ahead of a negative public announcement involving the clinical trial results of an Alzheimer drug being jointly developed by Elan Corp. and Wyeth, both pharmaceutical companies.


The SEC complaint said that Martoma carried out the scheme with Gilman, an 80-year-old professor of neurology at the University of Michigan Medical School who served as chairman of a safety committee overseeing the clinical trial. Gilman was selected by Elan and Wyeth to present the final clinical trial results at a July 29, 2008, medical conference.


Messages left with the University of Michigan Medical School were not immediately returned.


Gilman’s lawyer, Marc Mukasey, said his client is cooperating with the SEC and the U.S. Attorney’s Office, and has entered into a non-prosecution agreement with federal prosecutors.


A copy of the agreement released by federal prosecutors Tuesday showed that Gilman will forfeit nearly $ 187,000 that he received from Elan for consulting work in 2007 and 2008 and from an expert networking firm for consultations between 2006 and 2009 with Martoma’s hedge fund.


Bharara said Martoma gained from “cultivating and corrupting” Gilman, eventually receiving $ 9 million in bonus pay for the year when the trades were made.


Martoma met with the doctor about 42 times, beginning in the summer of 2006, and eventually convinced him to start talking about the drug trial, prosecutors said.


The SEC said leaks by Martoma caused hedge fund portfolios managed by CR Intrinsic and by an affiliated investment adviser to liquidate more than $ 700 million in holdings in Elan and Wyeth.


The massive repositioning, the SEC said, allowed CR Intrinsic and various hedge funds to reap huge illicit profits and avoid steep losses.


“By cultivating and corrupting a doctor with access to secret drug data, Mathew Martoma and his hedge fund benefited from what might be the most lucrative inside tip of all time,” Bharara said.


The prosecutor said the doctor sent him a draft of the 24-page presentation he planned to make at a conference announcing the results.


That is when Martoma “had to do a spectacular about-face because he understood that — with these negative results looming — the hedge fund’s massive $ 700 million stake had become a terrible bet,” Bharara said. “And so, just like that, overnight, Martoma went from bull to bear as he tried to dig his hedge fund out of a massive hole.”


The news caused Elan’s stock price to plunge by more than 40 percent. The price of Wyeth fell about 12 percent.


The bets against the drug developers brought additional profits totaling $ 76.2 million. That is roughly the same amount that prosecutors said former hedge fund manager Raj Rajaratnam made in illegal profits before he was arrested. The one-time billionaire is serving an 11-year prison sentence in what was once considered the biggest insider trading case in U.S. history.


A year later, a hedge fund employee recommended that Martoma be terminated, and he was let go in 2010, Bharara said.


___


AP Business Writer Daniel Wagner in Washington contributed to this report.


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