Monday, December 24, 2012

Two Colorado Springs boys reported missing

Font ResizeLocal NewsBy Ryan Parker
The Denver Postdenverpost.comPosted: 12/24/2012 07:01:11 AM MSTDecember 24, 2012 2:5 PM GMTUpdated: 12/24/2012 07:05:35 AM MST

Colorado Springs police are asking for the public's help in locating two boys.

Johnny Gordon,15, and Eric Woods, 14, were reported missing from a mobile home park at 4825 Astrozon Blvd., according to a Colorado Springs police news release.

The report of the missing boys came in at 6:51 p.m. Sunday.

According to police, the boys disappearance "appears to be out of character."

Anyone with information regarding the boys whereabouts should contact police at 719-444-7000 or remain anonymous through crime stoppers at 719-634-STOP.

Ryan Parker: 303-954-2409, rparker

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Nose Job: Mosul Men go Under Knife for Good Looks

By Saleh Elias.

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Business is booming, say cosmetic surgeons in one of Iraq’s most dangerous cities. It’s not just Botox for ladies either. Apparently the biggest increase is in young men who want more attractive noses.

The Mosul clinic run by Dr Sadallah al-Zako is full almost all day, every day. For five working days of the week it’s crowded with people from all age and social groups. What they have in common: they want to look nicer.

Al-Zako is a member of the British Association of Plastic Surgeons and he was the first to introduce cosmetic surgery to the city of Mosul in 1987. And now, as he told NIQASH, cosmetic surgery is on the increase.

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Iraq Gets 2 New Navy Ships

Video: Thousands Protest Govt ‘Sectarianism’ Iraqi Kurdistan Trade Mission – 24 Feb to 1 March 2013 Nose Job: Mosul Men go Under Knife for Good Looks Categorized

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Iraq Boosts Gold Reserves

Iraq Gets 2 New Navy Ships Video: Thousands Protest Govt ‘Sectarianism’ Iraqi Kurdistan Trade Mission – 24 Feb to 1 March 2013 Nose Job: Mosul Men go Under Knife for Good Looks Categorized

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Social media, cloud computing hold promise for Indian IT in 2013

Year 2012 was a mixed one for the top five IT services firms. Reuters

Factors like weakening rupee, high production input prices, hike in borrowing costs, and geo-political situation continued to plague the industry in 2012.

These along with domestic policy paralysis prompted software services industry body Nasscom to lower growth forecast for 2012-13 for IT-BPO exports to 11-14 percent from previous fiscal’s target of 16-18 per cent growth.

IT companies seem to be ready for this new “normal” and are now embracing technologies like social media, cloud, analytics and mobility (SCAM) to optimise and ensure efficiency in business environment, all within flat or lower than usual IT budgets.

While the global macroeconomic scenario remains uncertain in the coming years, the industry will continue to exhibit resilience and adaptability in continually reinventing itself to retain its appeal to clients, Nasscom said.

“The year 2012 has been a landmark year for the Indian IT industry… At such a large base, we expect the industry to clock double digit growth in FY 2013 which exhibits that despite global uncertainties, IT-BPM industry has moved from efficiency to effectiveness,” it added in an emailed response.

2012 was a mixed one for the top five IT services firms. While Tata Consultancy Services (TCS), HCL Technologies and Cognizant saw good growth, Infosys and Wipro lagged peers. TCS and HCL Technologies have registered quarterly revenue growth 13 percent and 17 percent in dollar terms, while both Infosys and Wipro registered under 5 percent growth.

Also, Infosys slashed its revenue growth outlook to five percent for FY2012-13 and suspended its practice of giving quarterly guidance, while Wipro hived off its non-IT businesses like Consumer Care & Lighting into a new company to focus exclusively on IT.

Cognizant continued to give strong competition to its counterparts, pushing Infosys to the third spot in the top Indian IT services players tally with growth of over 20 percent. Though it is not listed in India , Cognizant is often referred to as an Indian entity with three-fourth of its over 1.50 lakh employees being based here.

Overall, the companies remain confident of growth and opportunities in 2013. HCL Technologies Senior Corporate Vice President Shami Khorana said though the macro environment will continue to be challenging in 2013 with flat IT budgets, the outlook remains positive.

“We continue to maintain a positive outlook focussing energies on the US and Europe re-bid market,” he said. TCS CEO and MD N Chandrasekaran is also upbeat about the industry’s growth. “When history looks back at this era, it will be remembered for the huge technology and digital transformation we are now living through, not the economic turbulence.”

According to him, four “powerful” technologies

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At Pimpri, Tata Motors is preparing for a fireworks of output

More money and more attention is going to the passenger vehicle unit as the company ramps up R&D. Reuters

Tata, a global name since it bought Jaguar Land Rover in 2008, is losing traction at home as underwhelming product tweaks, heavy discounts and slumping capacity utilisation mark a painful 18 months for its passenger division.

Not since the 2008 Nano, the world’s cheapest car, has Tata unveiled a head-turning passenger vehicle, and not since the Indica’s launch in 1998 has it set the Indian market alight. Now, the company is heading back to the drawing board.

More money and more attention is going to the passenger vehicle unit as the company ramps up R&D, ditches a failed product strategy and prepares to enter the mini SUV segment and reboot the so-far underwhelming Nano.

“We have done something very innovative that will allow us to respond more positively,” said Tim Leverton, Tata Motors’ head of research and development. “You’ll see, over the next 12-18 months onwards, a fireworks of output.”

Tata will pour more than Rs 7,500 crore into the passenger vehicle business over the next five years. Less than 30 percent of that has been earmarked for facilities or upgrading hardware, leaving the rest for new products.

“The business is understanding that’s a heavy investment to make,” Leverton said. “But it needs to be made.”

Tata desperately needs a new hit model to arrest its sliding sales and eroding market share. A slew of new variants to combat competition from global brands will see it bin its inflexible past strategy of one car per market segment.

The success of the new drive will hinge on how soon Tata can bring fresh designs and ideas to market. That could take time.

“We’re definitely not factoring in a revival in their market share for the next two to three years. We don’t see any major new products … launched over the next two to three years,” said Jinesh Gandhi, auto analyst at Motilal Oswal Securities in Mumbai. “It’s going to be an uphill task for them.”

Tata’s car sales fell 8 percent in the April-November period from a year earlier, as main rivals Hyundai Motor and Maruti Suzuki posted increases.

The company relied on Jaguar Land Rover for 90 percent of its consolidated profit in the last financial year. The slowdown in its domestic business is seen as a drag on its value.

Tata Motors has a 12-month forward price to earnings ratio of 7.4, according to Thomson Reuters StarMine, against 17.2 for Maruti Suzuki and 9.2 for BMW AG.

“For sure new products are the source of growth and interest in our market,” Managing Director Karl Slym told Reuters. “And so product focus is and should always be a priority.”

The appointment this summer of Slym, a former General Motors executive, itself marked a shift. His two predecessors were former heads of Tata’s commercial vehicle business

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Russia rejects tax sops to ONGC subsidiary

India had also sought to include Imperial Energy fields in the list of the fields where produced oil is subject to a reduced rate of export customs duty. Reuters

Putin is to visit New Delhi on Monday for the 13th annual bilateral summit and New Delhi was hoping the high taxes on oil produced by Imperial Energy will be sorted out before that, sources privy to the development said.

ONGC Videsh Ltd, the overseas arm of the state explorer which had in 2009 acquired Imperial Energy for $2.1 billion, says high taxes mean its gets only $19-20 per barrel at an oil price of $90-100.

This nominal net back is generated from the exploratory and production efforts made in the harsh conditions of West Siberia, from where a meagre 13,803 barrels per day of output has to be transported through 5000 kilometres of pipelines.

This is hardly enough to cover the operational expenditure, it feels. The Russian Government, in the last three years of ONGC’s presence has gained about half a billion dollar in taxes. Sources said Moscow has stated that it cannot extent any special treatment to Imperial Energy. It has however indicated that some relief may come in form of rebates Moscow is planning for exploitation of tight oil reserves all over the country.

India had also sought to include Imperial Energy fields in the list of the fields where produced oil is subject to a reduced rate of export customs duty. Russia has remained non-committal on the issue.

Besides seeking a pie in the future exploration projects planned in Arctic, India may push for more LNG supplies during Putin’s official visit. Gas utility GAIL India Ltd had recently signed a 20-year contract to buy 2.5 million tons per annum of LNG from OAO Gazprom beginning 2018-19. LNG will come from Gazprom’s Shtokman production facilities, which has an estimated 130 Trillion cubic feet of reserves.

During talks, India may push for participation of ONGC in the Yamal LNG project. Initial talks have already been held with Novatek, the second largest gas producer in Russia after Gazprom.

ONGC has teamed up with GAIL and the nation’s largest liquefied natural gas importer Petronet LNG Ltd for taking a stake in the Yamal project which is controlled by Novatek. Total SA of France has 20 percent stake in the project.

Besides Yamal, GAIL is eyeing interest in a planned greenfield LNG project on the eastern coast of Vladivostok. Also of interest is the capacity expansion of the existing Sakhalin-2 project, aimed mostly at catering to the Asian market.

Also, Indian refiners are interested in procuring crude oil from Russia on long term contract. ONGC Videsh Ltd, the overseas arm of the state explorer, currently owns a 20 per cent interest in the Sakhalin-1 project in Far East Russia.

PTI

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KFA submits revival plan; DGCA to decide on licence renewal



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Only excise cut, removal of fuel price anomaly can boost car sales

Festival cheer kept sales from sliding into the negative territory again in October . AFP

But this reluctance was typical of first time car buyers or those wanting to buy small cars, since the momentum for diesel driven SUVs and large cars was not impacted at all! As the year progressed, disappointed car makers stepped up discounts across most brands

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Kingfisher Airlines submits revival plan, DGCA seeks clarity



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'Dressing The Queen: The Jubilee Wardrobe' Reveals Queen Elizabeth's Fashion Secrets (VIDEO)

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It's Christmas Eve -- have you gotten a present for the royal watcher in your life?

If not, we've got the perfect thing. Dressing The Queen: The Jubilee Wardrobe, one of several books published this year about British royals, contains every little detail about Queen Elizabeth II's fashion. Penned by Angela Kelly, personal assistant and dresser to the queen, the book hones in on the queen's Diamond Jubilee wardrobe: how it was prepared, where the fabrics came from and why certain colors were picked over others.

The "Today" show took a closer look at the book on Monday morning, highlighting the best tidbits about dressing the royal that we've always wanted to know. Five things we learned:

1. Queen Elizabeth is actually interested in fashion design herself. She even helped create the shiny white confection she wore on her historic trip to Dublin in 2011 that featured 2,000 hand-sewn silk shamrocks.

2. The queen actively avoids wardrobe malfunctions, specifically her skirt blowing up, with weighted hems. "If we think this is a possibility," writes Kelly, "we will very occasionally use weights, discreetly sewn into the seams of day dresses."

3. For the Diamond Jubilee, the queen kept it frugal: her staff, led by Kelly, created dresses from fabrics they already had laying around.

4. According to historian Sally Bedell Smith, the queen "enjoys her tiara time." (We have no idea what this means but it sounds fun.)

5. While her outfits must all be made with wrinkle-proof fabric, it's not required that they be breathable. The queen, writes Kelly, simple doesn't sweat.

Of course these details only add to what we already know from Stewart Parvin, the queen's go-to designer for over a decade. It was from Parvin that we learned the best royal secret of all: that the queen has servants pre-wear all her shoes to break them in.

Baller. Watch the clip from "Today" above for more fun royal facts.

See a lifetime of Queen Elizabeth outfits:
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'Derek' Trailer: Ricky Gervais Netflix Comedy First Look (VIDEO)

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Yemen: US Drone Strike Kills 2 Militants

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Lawmakers Signal Willingness To Pursue Gun Law Changes

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Newtown's Sandy Hook Section Draws Hundreds Of Visitors

Mourners visit a streetside memorial for 20 children who were killed at Sandy Hook Elementary School on December 20, 2012 in Newtown, Connecticut. Get Crime Alerts:Sign Up Follow:  Video, Newtown Elementary School Shooting, Sandy Hook Section, Sandy Hook Visitors, Sandy Hook Elementary School Shooting, Newtown, Sandy Hook, Sandy Hook Elementary School Shooting, School Shootings, Visitors,Crime News #news_entries #ad_sharebox_260x60 img

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Home Explosion Case: Monserrate Shirley, Mark And Bob Leonard Due In Indianapolis Court

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FreedomWorks Feud: War Inside Tea Party Group Gets Nastier | Mother Jones

Former U.S. Representative Dick Armey speaks at 'Tea Party' a panel discussion at the 2010 New Yorker Festival at DGA Theater on October 2, 2010 in New York City. (Photo by Amy Sussman/Getty Images the New Yorker) Get Politics Alerts:Sign Up React:Important
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30 Days Of Holiday LGBT Giving: Affirmations LGBT Community Center In Detroit

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Christmas Movies The Family Won't Fight Over: 17 Holiday Classics

Will Ferrell's "Elf" is a modern holiday favorite. Get Entertainment Alerts:Sign Up React:Inspiring
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Cowboys-Redskins Game Flexed To 'Sunday Night Football'

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'Girls' On HBO: Season 2 Sneak Peek Trailer (VIDEO)

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A Gift Wrapping Idea Using Sheet Music That's As Simple As 'Do Re Mi'

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Embroidered Napkins That Will Add A Last Minute Homemade Touch To Your Table

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Bene Raia From 'Market Warriors' On Vintage Kids Toys And Collectibles

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Host a Radio Show

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Car stolen at gunpoint spotted in Adams County

Font ResizeLocal NewsBy Megan Mitchell
The Denver Postdenverpost.comPosted: 12/23/2012 01:38:18 PM MSTDecember 23, 2012 8:39 PM GMTUpdated: 12/23/2012 01:38:27 PM MST

 A car stolen from a couple at gunpoint in Denver Saturday night was spotted in Adams County Sunday morning, but was not apprehended by police.

The carjacking and robbery happened at a car wash, at 1980 W. Mississippi Ave., around 8 p.m. Saturday night, said Denver police spokesperson Sonny Jackson. A suspect was described as a white or Hispanic male with tattoos on his face.

The victims, whose names were not released by police, said that the suspect took off toward west Mississippi Avenue in the black 2005 Chevy Malibu, Jackson said.

The car was last seen by an Adams County deputy near Interstate-25 and 58th Avenue a little before 8 a.m. Sunday.

The deputy identified the car by its license plate and attempted to stop it, but the driver accelerated, said Adams County spokesperson Sgt. Paul Gregory.

The suspect is still at large. The deputy did not chase the stolen car because it was unsafe, Gregory said.

Megan Mitchell: 303-954-1223, mmitchell

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Sunday bank robbery being investigated by Lakewood police

Font ResizeLocal NewsBy Ryan Parker
The Denver Postdenverpost.comPosted: 12/23/2012 02:03:43 PM MSTDecember 23, 2012 11:20 PM GMTUpdated: 12/23/2012 04:20:35 PM MST


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Newtown residents turn to their faith

Font ResizeBy James V. Franco, The Recordmercurynews.comPosted: 12/23/2012 04:34:37 PM MSTDecember 24, 2012 12:46 AM GMTUpdated: 12/23/2012 05:46:04 PM MST


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Goldman wants Rajat Gupta to repay $7mn legal fees

Gupta also argues that Goldman is not entitled to restitution for legal fees arising from the parallel SEC investigation. AFP

In a motion filed in the court, Goldman said it has been a “victim” of 64-year-old Gupta’s criminal conduct and violation of his duties as the firm’s director.

“As a result of Gupta’s conduct, Goldman Sachs has incurred nearly seven million dollars in external legal fees and costs in conducting an internal investigation, in responding to numerous government requests in parallel criminal and civil investigations and proceedings, and in attending to other resulting legal matters,” the investment banking giant said in court papers.

“Goldman Sachs is entitled to… and now seeks reimbursement of those legal fees and related costs that were a direct and foreseeable result of Gupta’s offence,” it said.

“The Court should award Goldman Sachs 6.90 million dollars in restitution for legal fees and related costs.”

Manhattan’s federal prosecutor Preet Bharara, on behalf of the government, said in a separate filing to the court that “the government respectfully submits that Goldman, as the ‘victim’ of Gupta’s crimes, is entitled to recover all attorney fees” that were incurred by the investment bank due to Gupta’s offences.

Goldman filed its motion in court in reply to Gupta’s submission a week ago that he should not be required to pay the legal fees and other expenses to Goldman since the fees is for work that was not necessarily incurred during “participation in the investigation or prosecution” of his insider trading case.

Gupta is appealing his conviction on insider trading charges and earlier this month was granted his appeal to stay out of prison on bail pending appeal. The former McKinsey head was slapped a $5 million fine and sentenced to two years’ imprisonment.

Goldman said it had engaged the services of a law firm in 2009 after it was brought to its notice that Gupta had allegedly provided confidential company information to hedge fund founder Raj Rajaratnam.

Over the next three years, the law firm provided services to Goldman, including conducting fact-finding regarding Gupta’s conduct, representing Goldman and its directors, officers and employees in responding to criminal and regulatory enforcement investigations and the resulting prosecutions of Gupta and Rajaratnam.

“Goldman Sachs faced significant legal demands in connection with these matters,” it said.

Goldman added that it incurred expenses and required legal assistance in responding to approximately 27 grand jury subpoenas and document requests from the US Attorney’s Office and the Securities and Exchange Commission (SEC), responding to six subpoenas from Gupta himself, collecting and reviewing millions of documents, and producing over 400,000 pages of material in over 100 separate document productions.

The law firm also represented Goldman Chairman and CEO Lloyd Blankfein in preparation for and testimony at Gupta’s trial in June this year.

Goldman said Gupta is wrong in seeking to avoid payment for the various categories of expenses. He is “erroneous” in claiming that Goldman is not entitled to recover the legal fees because they were not incurred during “participation in the investigation or prosecution” of Gupta.

Gupta also argues that Goldman is not entitled to restitution for legal fees arising from the parallel SEC investigation.

Goldman responded that the SEC and criminal investigations and proceedings by the US government “were closely related and coordinated.”

Goldman also rejects Gupta’s claims that he should not be asked to pay legal fees for the insider trading charges on which he was acquitted.

“Gupta’s conviction for conspiracy directly implicates him as a co-conspirator, making him liable to pay restitution even on uncharged or acquitted counts,” Goldman said.

Gupta has refused to pay costs incurred by Goldman in assisting in the government’s investigation and prosecution of his role in insider trading of Procter & Gamble securities.
He further said Goldman cannot charge him for proceedings that took place after his trial ended in June to which Goldman said the “post-verdict proceedings, including work related to seeking restitution and responding to SEC depositions noticed by Gupta, were a direct and foreseeable result of Gupta’s offence.”

Significantly, Goldman Sachs does not seek as restitution the more than $35 million in legal defence fees and costs that it has advanced to Gupta, as required by its by-laws, pursuant to his undertaking to repay those fees and costs if it is ultimately determined that he was not entitled to indemnification.

Goldman Sachs intends to recoup those costs upon any final determination of Gupta’s lack of entitlement to indemnification, and not as part of this proceeding.

Gupta had said last week in court papers that Goldman has submitted 540 pages of billing records for a three-year period from December 2009 through November 2012 which do not contain specifics of the legal tasks performed by Goldman in connection with Gupta’s case.

Goldman said the records are voluminous because Gupta’s decision to contest the charges against him required the firm to interview and assist in preparing numerous potential witnesses for trial testimony and incur costs from attending the trial itself.

“While it was unquestionably Gupta’s right to contest the charges against him, his decision to do so imposed significant costs upon Goldman Sachs which the firm has the right to recover,” Goldman added.

PTI

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Vodafone finds govt stance on spectrum sale coercive

Reuters

The telecom secretary had recently said that the government will auction the spectrum being held by incumbent GSM operators in 900 MHz band whose licences are coming up for renewal in November 2014.

They will, however, be allowed to hold 2.5 Mhz in each circle in the same band even after expiry of their licences after paying a market-determined price.

Vodafone is one of the companies whose licences in Delhi , Mumbai and Kolkata are due for renewal in 2014.

“Most importantly, they, in effect, are coercing participating in the auction particularly in our case since three of our unified access licences are due for extension in November 2014,” he added.

Ramachandran said that any decision that licences can be assured of spectrum only if they participate in the auctions is completely untenable both under policy and licence.

The Union Cabinet on 13 December approved a 30 percent reduction in reserve price for spectrum in 1800 MHz band for 4 service areas

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Maruti eyes Gujarat for second plant; acquires 600 acres

The company took disciplinary action against the workers based on testimonials . Reuters

“We have land at two locations in Gujarat. The first one is offered by the government and the second one is a private land that is directly acquired by us with some negotiations by the government,” Maruti Suzuki India (MSI) Chairman R C Bhargava told reporters here.

The company has acquired about 600 acres, located about 40 km from the first site near Mehsana, he added.
“The second location is for our future expansion. Once we exhaust the capacity at the first site, we will move to the second one,” Bhargava said.

He, however, did not share details such as when the firm is likely to start construction at the second site. When asked if MSI is shifting its focus from Haryana, where it has recently witnessed severe labour unrest, Bhargava said: “We are not moving away from Haryana. We have two plants in the state and going to Gujarat after utilising the capacity completely at Gurgaon and Manesar. We will do the same once we exhaust the capacity in Gujarat also.”

He said the company will do the ground breaking ceremony for the Gujarat facility early next year. MSI had earlier this year announced to invest Rs 4,000 crore, its biggest ever outside Haryana, to set up a 700-acre new production facility in Gujarat by 2015-16. Besides, components suppliers of the company are also likely to make an equal amount of investment to set up their respective plants.

The capacity in the first phase will be 2.5 lakh units a year. Talking about the company’s performance in this fiscal, Bhargava said: “We are going to end this year with a growth of about 6 percent over last year. Overall, there is a sign of softening in India’s car market due to various factors.”

During the next financial year, the company is not expecting anything better than the current fiscal and it will grow in single digit only, he added. “We hope to grow 6-7 percent growth at best in next fiscal, which is going to be the election year and so we don’t expect anything drastic happening,” Bhargava said.

Commenting on exports, MSI Managing Director and CEO Shinzo Nakanishi said MSI is finding it tough due to the decline in European market. “Last year we had a total export of 1.27 lakh units. This year we may be a little less than that because of the slowdown in Europe, which used to be our biggest overseas market.”MSI has been exploring new markets to keep its overseas sales momentum, Nakanishi said.

Bhargava said: “I don’t know when the European market will revive but we have been entering new markets like Algeria, which is one of our biggest now and we expect to sell around 25,000 units there.”

The company has also been exporting both completely built units and completely knocked down units to Indonesia amounting to about 40,000 units. On the Sri Lankan market, Bhargava said sales have fallen by almost 50 percent this year due to the increase in import tariffs by the government there.

Asked whether the company would look to set up assembly operations overseas, he said: “It is possible in the course of next few years that we have overseas assembly operations in the markets where we are looking.” These overseas assembly plants could be run by Maruti directly and not by Suzuki Motor Corp, he said, adding however that “at the moment there are no such plans to set up assembly operations anywhere”.

On the company’s plans to enter premium segment of Indian passenger car market, Bhargava said: “Maruti and Suzuki Motor grew and became profitable on the basis of small cars. Small cars in India is going to be a big segment in future also. MSI has the image that it is first class small car maker and I would try to protect that image.”

He also ruled out MSI diversifying into the commercial vehicle segment. Asked about the progress at the violence-hit Manesar plant, Bhargava said the production has reached normal level of about 1,900 units per day.

When asked if the company would reconsider to take back some of the workers that were fired after the violence in July, he replied in negative. While the company has terminated services of over 500 permanent workers alleging their role in the violence, which killed one senior official and injured nearly 100 others, the police has filed charge sheets against about 145 people only.

Asked about the police report, which contradicted MSI’s claim of an outside influence and concluded that the violence was an internal matter, Bhargava said: “Police has not given us any specific reason why it happened… It is something like an unknown disease by an unknown virus.

“Police evidence says there is no evidence of outside influence. Everybody has its own conclusion. As far as Maruti is concerned, whether there is an external influence or not, it does not matter on our decision (of firing the workers). We have to accept the police findings.”

The company took disciplinary action against the workers based on testimonials and evidences gathered from managers and supervisors of the Manesar plant present at the time of violence, he added.

PTI

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Location: West Los AngelesPrincipals only. Recruiters, please don't contact this job poster.Please, no phone calls about this job!Please do not contact job poster about other services, products or commercial interests.PostingID:3498337533



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