Thursday, August 2, 2012

Report: Generic drugs saved $193 billion in 2011

(AP) ? Growing use of generic medicines has reduced U.S. health care spending by more than $1 trillion over the past decade.

That's the conclusion of an industry-funded study that finds use of generic prescription drugs saved about $193 billion last year alone.

The report from the Generic Pharmaceutical Association finds that using inexpensive generic versions of pricier brand-name prescription drugs now saves the country about $1 billion every other day.

Last year, nearly 80 percent of the 4 billion prescriptions dispensed in this country were generic drugs. Because of their cheaper prices, those drugs accounted for just 27 percent of total U.S. spending on prescription medicines.

The report notes drugs for heart conditions and central nervous system disorders such as depression and convulsions account for 57 percent of the annual savings.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/bbd825583c8542898e6fa7d440b9febc/Article_2012-08-02-Generic%20Drugs-Savings/id-34cd6c860f964a19907e8a9113b4a87e

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Trading company says it lost $440 million on glitch in minutes

NEW YORK (Reuters) - Knight Capital Group Inc is being forced to raise money after an erroneous trading position wiped out $440 million of its capital, the firm said on Thursday, causing its shares to shed more than half of their value.

Problems at Knight, one of the largest firms that buys and sells stocks to provide liquidity to the markets, emerged at the beginning of trading on Wednesday.

"The company is actively pursuing its strategic and financing alternatives to strengthen its capital base," Knight said in a statement. Knight's shares fell 53 percent to $3.24, hitting an all-time low.

Knight has already approached JPMorgan for emergency funding, according to a report on Fox News. But it was unclear if that funding would be granted. A spokeswoman for JPMorgan declined to comment.

The firm said its broker/dealer divisions would open for business as usual on Thursday, adding that despite the impact of the trading loss, it was in compliance with capital requirements. It also said it had traded out of the entire position.

Wednesday's technology breakdown roiled the prices of some 140 stocks listed on the New York Stock Exchange, undermining fragile investor confidence in the stability of U.S. stock markets.

The trading glitches are the latest in a series of market snafus that have eroded retail investors' confidence. Others include the botched Facebook Inc initial public offering, the 2010 "flash crash" in which nearly $1 trillion in market value disappeared in minutes, and the failed public offering of BATS Global Markets, a rival to the NYSE and the Nasdaq.

Specialists in securities industry operations issues said the wave of recent problems points to an unsettling reliance on automated trading facilities that is robbing investors of confidence in the markets.

"We're losing the human control in our business," said Joe Anastasio, a founding partner of financial services consulting firm Capco who specializes in stock trading issues. "We've been so focused on automated throughput of orders and high-volume execution with no human intervention that we have lost the human logic factor when things go wrong."

One of the problems, he said, is that millions of orders stack up overnight for automatic execution at the opening of trading, creating a deluge of bad trades related to a single error.

Knight said its principal broker-dealer subsidiaries were fully compliant with their net capital requirements despite the pretax loss of about $440 million that has "severely impacted" the parent company's capital base.

A broker-dealer can make loans or pay dividends to its parent company and affiliates without regulatory approval as long as the transaction does not affect its excess net capital by 30 percent or more.

On July 18, Knight reported second-quarter earnings of $3.3 million, down 81 percent from a year earlier after recording a $35.4 million pretax trading loss from the Facebook initial public offering. The company has not yet filed its second-quarter report with regulators.

The company, on average, had daily U.S. market-making volume of $19.5 billion in June.

(Reporting by Edward Krudy; Editing by James Dalgleish and Lisa Von Ahn)

Source: http://news.yahoo.com/knight-seeks-financing-440-million-trading-loss-124602408--finance.html

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Wednesday, August 1, 2012

Nudge, Nudge: Can Software Prod Us Into Being More Civil?

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Source: http://www.labspaces.net/122180/Nudge__Nudge__Can_Software_Prod_Us_Into_Being_More_Civil_

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Michael Jackson's mother plans events in Indiana

(AP) ? Michael Jackson's mother says she is returning to her family's Indiana hometown to celebrate what would have would have been her son's 54th birthday.

An announcement released Tuesday by a representative of Katherine Jackson states the events in Gary, Ind., will be attended by the singer's three children as well.

A candlelight vigil is planned for Aug. 29 outside the family's home on Jackson's 54th birthday.

The celebration is being dubbed: "Goin' Back to Indiana: Can You Feel It?"

Details on the events, including a tribute concert and an event honoring Katherine Jackson are posted on a Facebook page for the event, www.facebook.com/jacksonstreet2012.

The Jackson family moved to Los Angeles as Michael and other siblings pursued their burgeoning music careers, but have kept connections to their Indiana hometown.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2012-07-31-Jackson%20Anniversary-Tribute/id-52a950e47b9a464e977e4d1c0ff3d1d7

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Drawing along with Painting Ideas ? The Structure Drawing ? Guru ...

A design draw will be the method of faintly setting out the key aspects of an impression on to paper (or perhaps canvas). The aim should be to get every element the proper size and in the correct place prior to moving onward. Nevertheless, this primary stage is how the majority of amateur works of art get it wrong!

In a symbol for case in point, the format design would simply make certain that the outline of the eyes (nasal area, mouth area, and many others) are generally the accurate design, correct dimensions, precisely aligned and also the appropriate distance apart. The structure draw requires no additional depth, nevertheless get this kind of incorrect, plus your art work will end up being ruined to disappointment, no matter precisely how excellent the painting or drawing strategy is.

You?ll be able using a great deal of practise and also care, to comprehensive a design drawing by eye on your own, yet is that exactly how professional designers work? No they just don?t! Time will be money as well as expert musicians make use of methods and also resources to get precise layout work done quickly.

Listed here are the most frequent methods and methods for working from a photograph.

Measuring

The most basic tool can be employ of a pencil as a ruler and protractor. For example, when drawing a deal with, the pencil can provide to determine the family member size of an eye, the distance between the ear lobe as well as the corner of an eye, or the position of the nasal area. This specific works best any time replicating from a large photograph, as well as reproducing an graphic at the same dimensions.

The technique is straightforward: lay the pencil level on the photograph. Place the stage of the pencil where you want to measure from, as well as grasp the opposite end of the pencil at the precise stage you would like to calculate to. Without having changing your hold, move the pencil to the document and also make an indicate on the paper at the tip and also level of your own understand.

In the same manner, aspects can become copied by laying the pencil on the photograph, say a roof collection in a landscape, and carefully moving the pencil to the document while maintaining that angle. An simpler method is to place a person reference photo above your papers, in order that the pencil can end up being rolled from one area to the additional without modifying the position considerably.

A slightly easier way is to utilize a ruler, along with get overall proportions. When you need to re-scale an picture, the utilize of a ruler is actually more suitable. For example, any time climbing way up to 2 times the measurement, simply increase the measurement (and so on). However, this technique has become outdated.

Additionally, it?s possible to obtain dividers that will obtain the exact same measuring impact. Some even get a minimal re-scaling purpose.

A lot of people have accessibility to a PC along with peripheral devices, so it is less complicated to check along with re-print a photograph at the same size you desire to draw or even painting, in lieu of re-scale along the way.

The use of a pencil (or anything else) while a ruler is better employed for checking out minor fine detail dimensions and aspects.

To find out more, visit caricaturas de mi foto and also de foto a dibujo

Source: http://guru3x.com/drawing-along-with-painting-ideas-the-structure-drawing/

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It's No. 19 and counting for Michael Phelps

From left, United States' Michael Phelps, United States' Conor Dwyer, United States' Ricky Berens and United States' Ryan Lochte pose with their gold medals for the men's 4x200-meter freestyle relay swimming final at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Tuesday, July 31, 2012. (AP Photo/Mark J. Terrill)

From left, United States' Michael Phelps, United States' Conor Dwyer, United States' Ricky Berens and United States' Ryan Lochte pose with their gold medals for the men's 4x200-meter freestyle relay swimming final at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Tuesday, July 31, 2012. (AP Photo/Mark J. Terrill)

United States' Michael Phelps, right, celebrates after winning gold in the men's 4x200-meter freestyle relay swimming final at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Tuesday, July 31, 2012. (AP Photo/Mark J. Terrill)

Debbie Phelps, center, the mother of United States' Michael Phelps reacts after he won gold in the men's 4x200-meter freestyle relay swimming final at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Tuesday, July 31, 2012. (AP Photo/Matt Slocum)

United States' Michael Phelps competes in the men's 4x200-meter freestyle relay swimming final at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Tuesday, July 31, 2012. (AP Photo/Mark J. Terrill)

South Africa's Chad le Clos reacts as he wins gold in the men's 200-meter butterfly swimming final at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Tuesday, July 31, 2012. (AP Photo/Michael Sohn)

(AP) ? Michael Phelps has always said he wanted to do something that no one has ever done before.

He's all by himself now, and ready to go for more.

The world's greatest swimmer cruised through the anchor leg of the 4x200-meter freestyle relay to earn his record 19th career Olympic medal and 15th gold on Tuesday night, etching a place in history as the most decorated Olympian of all time.

"It has been a pretty amazing career but we still have a couple races to go," he said.

Now his remaining four days in the pool at the London Games are all about putting that mark even further out of reach. Phelps has three events to go ? the 200 individual medley, the 100 butterfly and the 4x100 medley relay.

He won't be racing for a medal on Wednesday, when he competes in the preliminaries and semifinals of the 200 IM.

The big race on Day 5 of the swimming competition will be the men's 100 freestyle. James "The Missile" Magnussen of Australia owns the leading time going into the final. Nathan Adrian of the U.S. is next on the list, followed by Cuba's Hanser Garcia.

Other top contenders are world record-holder Cesar Cielo of Brazil and Yannick Agnel of France.

Kosuke Kitajima will try to make some history of his own in the 200 breaststroke. The Japanese star could become the first male swimmer to win the same event at three consecutive Olympics, although he's a long shot after qualifying fifth-fastest for the final. Kitajima's earlier attempt at a threepeat in the 100 breast fell short.

Leading qualifier Kathleen Hersey goes for the first U.S. gold medal in the women's 200 butterfly since 2000, when Misty Hyman stunned Susie O'Neill in Sydney.

Hours after Phelps earned his 18th medal ? a silver in the 200 fly ? and his 19th with the relay gold, well-wishers ranging from soccer great Pele to Los Angeles Lakers star Pau Gasol to fellow Olympians and teammates past and present tweeted their congratulations.

"To be a part of that is something I'll tell my kids about," relay swimmer Ricky Berens said. "It's just incredible to go down with him."

Phelps tied the record for career medals held by Soviet gymnast Larisa Latynina by finishing second in the 200 fly, getting out-touched by South African Chad le Clos at the wall. Phelps angrily tossed his cap in the water, a scowl on his face.

About an hour later, he returned with his teammates in tow for the relay. Ryan Lochte led off, followed by Conor Dwyer. Berens gave a lead of nearly 4 seconds to Phelps, who churned through the water and touched in a cumulative time of 6 minutes, 59.70 seconds for his first gold of these games.

When Phelps and the others huddled up before the relay, he told them he wanted "a big lead" going into his anchor leg and they delivered.

"I started smiling with like 20 meters to go, the first time I think I've ever done that in a race," he said. "I knew we had gotten it."

Phelps has 15 golds in his career, six more than anyone else, to go along with two silvers and two bronzes. Latynina won nine golds, five silvers and four bronzes from 1956-64.

"He's one of the toughest racers and one of the best swimmers ever to live," Lochte said. "It's pretty awesome."

In the stands, Phelps' mother, Debbie, and two sisters cheered his feat. Wearing his 19th medal during the victory stroll, Phelps stood on a plastic chair and reached up to take a small U.S. flag from them. With tears in her eyes, Debbie blew a kiss to her only son.

Phelps' night started out on a sour note in his signature event, one that is especially meaningful to his family since his sisters once swum it, too.

He hadn't lost the 200 fly at the Olympics or world championships since Sydney, when he finished fifth as an unknown 15-year-old.

Phelps, after leading the entire race, tried to glide into the wall instead of taking one more stroke. Le Clos took that extra stroke and beat Phelps by five-hundredths of a second.

"I was on the receiving end of getting touched out," he said. "Chad swam a good race. I've gotten to know him a little over the last year. He's a hard worker, he's a tough competitor and he's a racer."

Le Clos pounded the water when he saw the "1'' beside his name.

"He has always been an inspiration to me and a role model," le Clos said. "I've watched all his races a million times and I've run the commentary over and over. Now, I guess I can watch my race."

Phelps hung on the lane rope and buried his face in his hands, disgusted with himself for having squandered what looked like a sure gold. Le Clos won South Africa's second swimming gold of the games in a time of 1:52.96. Phelps finished in 1:53.01, while Japan's Takeshi Matsuda took the bronze in 1:53.21.

"It's obviously my last one," Phelps said. "I would have liked to win, but 1:53 flat isn't a terrible time. When you look at the picture of it, it's a decent time."

The legacy of his achievements is pretty decent, too. But the kid who always said he simply wanted to be the best Michael Phelps hopes someone else is out there dreaming as big as he did.

"Nothing is untouchable," he said.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2012-08-01-OLY-SWM-Swimming/id-158a7ae1e9cc4ae7bd29e00fbdc45811

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Struggling California Cities Looking to Tax Hikes

California's most financially troubled cities may have found a new strategy. City leaders are declaring fiscal emergencies so they can quickly get tax hike initiatives on November ballots.

Cities are turning most often to an increase in the local sales tax. But there also are proposals for hikes on utility taxes, parcel taxes and, in the Los Angeles-area city of El Monte, a soda tax.

Three California cities have resorted to bankruptcy to solve their financial troubles this summer, drawing attention to the threat of insolvency.

In other struggling towns, leaders say they do not want to wait until they run out of money to take action. La Mirada, Fairfield and Culver City are among other communities that declared fiscal emergencies this year, placing sales tax increases on their ballots.

? Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://www.moneynews.com/Economy/Struggling-california-Cities-Tax/2012/07/30/id/447028

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