This application obtained by The Associated Press shows the short form for the new federal Affordable Care Act. The first draft was as mind-numbing as a tax form. Tuesday the Obama administration unveiled simplified application forms for health insurance benefits under the federal health care overhaul. The biggest change: a five-page short form that single people can fill out. That total includes a cover page with instructions, and an extra page to fill out if you want to designate someone to help you through the process. (AP Photo/J. David Ake)
This application obtained by The Associated Press shows the short form for the new federal Affordable Care Act. The first draft was as mind-numbing as a tax form. Tuesday the Obama administration unveiled simplified application forms for health insurance benefits under the federal health care overhaul. The biggest change: a five-page short form that single people can fill out. That total includes a cover page with instructions, and an extra page to fill out if you want to designate someone to help you through the process. (AP Photo/J. David Ake)
Flow chart shows simplified process for applying for health insurance subsidies
WASHINGTON (AP) ? After a storm of complaints, the Obama administration on Tuesday unveiled simplified forms to apply for insurance under the president's new health care law. You won't have to lay bare your medical history but you will have to detail your finances.
An earlier version of the forms had provoked widespread griping that they were as bad as tax forms and might overwhelm uninsured people, causing them to give up in frustration.
The biggest change: a five-page short form that single people can fill out. That form includes a cover page with instructions and another page if you want to designate someone to help you through the process.
But the abridged application form for families starts at 12 pages, and grows as you add children. Most people are expected to take another option, applying online.
The ease or difficulty of applying for benefits takes on added importance because Americans remain confused about what the health care law will mean for them. A Kaiser Family Foundation poll released Tuesday found that 4 in 10 are unaware it's the law of the land. Some think it's been repealed by Congress. In fact, it's still on track.
At his news conference Tuesday, President Barack Obama hailed the simplified forms as an example of how his team listened to criticism from consumer groups and made a fix. The law's full benefits will be available to all next year, he emphasized, even if Republicans in Congress still insist on repeal and many GOP governors won't help put it into place.
When the first draft of the application turned out to be a clunker, "immediately, everybody sat around the table and said, 'Well, this is too long, especially...in this age of the Internet,'" Obama recounted. "'People aren't going to have the patience to sit there for hours on end. Let's streamline this thing.'"
The flap over the application forms was a "first test" of the administration's ability to confront problems as they emerge, said Sam Karp, vice president of programs at the California HealthCare Foundation.
"Being nimble enough to identify, then fix, problems will be critical to successfully enroll millions of Americans who will become newly eligible for coverage," he said.
The applications will start becoming familiar to consumers less than six months from now, on Oct. 1, when new insurance markets open for enrollment in every state. They are not for people already signed up in their employer's plan, only the uninsured.
Filling out the application is just the first part of the process, which lets you know if you qualify for financial help. The government asks to see what you're making because Obama's Affordable Care Act is means-tested, with lower-income people getting the most generous help to pay premiums. Consumers who aren't applying for financial help still have to fill out a five-page form.
Once you're finished with the money part, actually picking a health plan will require additional steps, plus a basic understanding of insurance jargon.
Under the law, middle-class people who don't get coverage through their jobs will be able to purchase private insurance. Most will be able to get tax credits to make their premiums more affordable. The lowest-income uninsured people will be steered to government programs like Medicaid.
Benefits begin Jan. 1, and nearly 30 million uninsured Americans are eventually expected to get coverage.
While the first drafts of the applications were widely panned, the new forms were seen as an improvement. Still, consumers must provide a snapshot of their finances to see if they qualify for help. That potentially includes multiple sources of income, from alimony to tips to regular paychecks.
The list includes: unemployment, pensions, Social Security, other retirement checks and farming and fishing income. Individuals will have to gather tax returns, pay stubs and other financial records before filling out the application.
"Given the amount of information necessary to determine eligibility, it's hard to see how the forms could be any shorter," said Robert Laszewski, a former insurance executive turned industry consultant.
Although the new forms are shorter, the administration wasn't able to get rid of all the complexity. One question asks family applicants with at least one member covered through a job for "the lowest-cost plan that meets the minimum value standard offered only to the employee." Huh?
Administration officials expect most people to apply online. The process will route consumers to either private plans or Medicaid. Identification, citizenship and immigration status, as well as income details, are supposed to be verified in close to real time through a federal "data hub" pinging Social Security, the Homeland Security department and the Internal Revenue Service.
Under Obama's overhaul, insurers will no longer be able to turn away the sick or charge them more. The pitfalls of giving the wrong answer to a health care question will be gone, but consumers who underestimate their incomes could be in for an unwelcome surprise later on in the form of smaller tax refunds.
Among the sections eliminated in the new form was one that asked applicants if they also wanted to register to vote. Some congressional Republicans had criticized that, calling it politically motivated.
Apr. 30, 2013 ? The Herschel observatory, a European space telescope for which NASA helped build instruments and process data, has stopped making observations after running out of liquid coolant as expected.
The European Space Agency mission, launched almost four years ago, revealed the universe's "coolest" secrets by observing the frigid side of planet, star and galaxy formation.
"Herschel gave us the opportunity to peer into the dark and cold regions of the universe that are invisible to other telescopes," said John Grunsfeld, associate administrator for NASA's Science Mission Directorate at NASA headquarters in Washington. "This successful mission demonstrates how NASA and ESA can work together to tackle unsolved mysteries in astronomy."
Confirmation the helium is exhausted came today, at the beginning of the spacecraft's daily communication session with its ground station in Western Australia. A clear rise in temperatures was measured in all of Herschel's instruments.
Herschel launched aboard an Ariane 5 rocket from French Guiana in May 2009. NASA's Jet Propulsion Laboratory in Pasadena, Calif., built components for two of Herschel's three science instruments. NASA also supports the U.S. astronomical community through the agency's Herschel Science Center, located at the California Institute of Technology's Infrared Processing and Analysis Center in Pasadena.
Herschel's detectors were designed to pick up the glow from celestial objects with infrared wavelengths as long as 625 micrometers, which is 1,000 times longer than what we can see with our eyes. Because heat interferes with these devices, they were chilled to temperatures as low as 2 kelvins (minus 271 degrees Celsius, or 456 Fahrenheit) using liquid helium. The detectors also were kept cold by the spacecraft's orbit, which is around a stable point called the second Lagrange point about 930,000 miles (1.5 million kilometers) from Earth. This location gave Herschel a better view of the universe.
"Herschel has improved our understanding of how new stars and planets form, but has also raised many new questions," said Paul Goldsmith, NASA Herschel project scientist at JPL. "Astronomers will be following up on Herschel's discoveries with ground-based and future space-based observatories for years to come."
The mission will not be making any more observations, but discoveries will continue. Astronomers still are looking over the data, much of which already is public and available through NASA's Herschel Science Center. The final batch of data will be public in about six months.
"Our goal is to help the U.S. community exploit the nuggets of gold that lie in that data archive," said Phil Appleton, project scientist at the science center.
Highlights of the mission include:
Discovering long, filamentary structures in space, dotted with dense star-making knots of material.
Detecting definitively, for the first time, oxygen molecules in space, in addition to other never-before-seen molecules. By mapping the molecules in different regions, researchers are learning more about the life cycles of stars and planets and the origins of life.
Discovering high-speed outflows around central black holes in active galaxies, which may be clearing out surrounding regions and suppressing future star formation.
Opening new views on extremely distant galaxies that could be seen only with Herschel, and providing new information about their high rates of star formation.
Following the trail of water molecules from distant galaxies to the clouds of gas between stars to planet-forming solar systems.
Examining a comet in our own solar system and finding evidence comets could have brought a substantial fraction of water to Earth.
Together with NASA's Spitzer Space Telescope, discovering a large asteroid belt around the bright star Vega.
Other findings from the mission include the discovery of some of the youngest stars ever seen in the nearby Orion "cradle," and a peculiar planet-forming disk of material surrounding the star TW Hydra, indicating planet formation may happen over longer periods of time than expected. Herschel also has shown stars interact with their environment in many surprising ways, including leaving trails as they move through clouds of gas and dust. More information is online at http://www.herschel.caltech.edu , http://www.nasa.gov/herschel and http://www.esa.int/SPECIALS/Herschel .
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We heard that the curved OLED HDTV prototypes LG showed at CES would be coming soon, and now it's official. A Korean press release indicates we can expect the 55EA9800 to launch in the next month, with shipments starting in June. According to the specs, its 4.3mm depth results in a weight of just 17kg, probably thanks to a carbon-fiber reinforced frame. Like an IMAX theater screen, the edges are curved towards the viewer to provide a more immersive feeling. Given the fact that we're still waiting for LG's flat OLED TVs to see a wider release we doubt it will arrive on US shelves any time soon, but until then you can check out our in-person pics from CES below, and a video after the break.
Update: LG sent over the English press release, which confirms pre-orders start today at more than 1,400 retail locations with a price of 15 million Korean won ($13,500), a healthy bump over the standard version's $10K MSRP. Release dates and pricing for non-Korean markets are coming "in the months ahead," check after the break to read all the details first hand.
BERLIN, April 29 (Reuters) - Barcelona will try every trick in the book to overturn a 4-0 first-leg deficit against Bayern Munich in their Champions League semi-final return leg on Wednesday, honorary Bayern president Franz Beckenbauer warned on Monday. Bayern crushed the Spaniards last week in a surprisingly one-sided encounter but Beckenbauer, former player, coach and president of Germany's most successful club, warned that Barcelona were not ready to surrender. "Barca will try everything to throw Bayern off balance," he told Bild newspaper. ...
MAKHACHKALA, Russia (AP) ? The father of the two Boston bombing suspects said Sunday that he has postponed a trip from Russia to the United States because of poor health.
"I am really sick," Anzor Tsarnaev, 46, told The Associated Press. He said his blood pressure had spiked to dangerous levels.
Tsarnaev said at a news conference Thursday that he planned to leave that day or the next for the U.S. with the hope of seeing his younger son, who is under arrest, and burying his elder son, who was killed. His family, however, indicated later Thursday that the trip could be pushed back because he was not feeling well.
Tsarnaev confirmed on Sunday that he is staying in Chechnya, a province in southern Russia, but did not specify whether he was hospitalized. He is an ethnic Chechen and has relatives in Chechnya, although he and his family spent little time in Chechnya or anywhere else in Russia before moving to the U.S. a decade ago.
He and the suspects' mother, Zubeidat Tsarnaeva, returned to Russia last year and settled in Makhachkala, the capital of neighboring Dagestan, where Tsarnaeva's relatives live.
During the past week, they were both questioned extensively by U.S. investigators who had traveled to Makhachkala from Moscow. They also were besieged by journalists who staked out their home.
Tsarnaev's family said last week that he intended to get to the U.S. by flying from Grozny, the Chechen capital, to Moscow. He and Tsarnaeva left Dagestan on Friday, but their whereabouts were unclear.
PHOENIX (AP) - Patrick Corbin's success has come from a simple formula - be aggressive and throw strike one.
The Diamondbacks' left-hander allowed two runs over 6 2-3 innings and Arizona beat the Colorado Rockies 4-2 on Sunday. It was the Diamondbacks' fifth win in six games.
"I thought today I was as sharp as I've been," said the 23-year-old. "I got a couple of fastballs up and that hurt me a little bit but I was able to keep us in it."
Corbin (3-0) scattered nine hits - four coming in his final 1 2-3 innings - and struck out five. Corbin didn't walk a batter for the second straight outing and hasn't allowed a base on balls in his last 15 innings.
"When you're getting ahead with that first pitch, the second pitch you can throw whatever you want," Corbin said. "It makes it 100 times easier."
Corbin became the second Diamondbacks pitcher to throw at least six innings and allow two runs or fewer in his first five starts of the season.
"He just keeps the ball in play," said Arizona manager Kirk Gibson. "He just competes. He works on things and understands the tools that he's acquired."
Gerardo Parra tripled and scored twice, and Josh Wilson had a run-scoring double for the Diamondbacks, who at 15-10 are off to their second-best start since 2006.
Rockies All-Star shortstop Troy Tulowitzki was lifted in the bottom of the third inning because of a strained left shoulder.
J.J. Putz pitched the ninth for his fifth save for the Diamondbacks.
Colorado has two wins in its last eight games after opening the season 13-4, falling into a first-place tie with Arizona in the NL West.
"As long as you continue to go out on a day in and day out basis and play good hard baseball and continue to do the right things, it will definitely workout" said Rockies starter Jon Garland. "We have already seen what we are able to do when we get some guys hot offensively and we are throwing the ball good."
Tulowitzki reached on a fielder's choice in the first inning and was attempting to score two batters later on a single by Michael Cuddyer when he slid awkwardly into home plate. Tulowitzki was easily tagged out by Miguel Montero from a throw by left fielder Jason Kubel.
"I didn't know he got hurt on the play," said Rockies manager Walt Weiss. "It sounds like he jammed his shoulder sliding into the plate."
Top Colorado prospect Nolan Arenado was called up from Triple-A Colorado Springs and went 0 for 3 with a walk while starting at third base.
The 22-year-old Arenado hit .364 with 11 doubles, three homers and 21 RBIs in 18 games for the Sky Sox. He was taken in the second round of the 2009 draft.
To make room, the Rockies designated INF Chris Nelson for assignment.
Arizona broke through against Colorado starter Jon Garland (2-2) in the third, scoring twice.
Cliff Pennington singled to right, went to second on a sacrifice and moved to third on a single to left by Gerardo Parra. After Cody Ross grounded out to advance Parra to second, Pennington scored on a passed ball charged to Wilin Rosario.
Three pitches later, Garland threw a wild pitch to score Parra for a 2-0 lead.
"You try and be aggressive without running into outs on the bases," Gibson said. "We're aware of what guys throw in certain counts and when to be aware to dirt-ball reads. `G' made a good read on that because they were playing way off at third place which allowed him to come further down the way."
Paul Goldschmidt extended the lead 3-0 in the fourth when he singled and scored on Josh Wilson's double off the left-center field wall and Parra tripled to lead off the fifth and scored on a Ross single to make it 4-0.
The Rockies cut the lead in half in the sixth. Eric Young Jr. doubled for the third time in three at-bats and scored on a single to left by Dexter Fowler. Fowler later scored on a one-out wild pitch to pull Colorado to 4-2.
Colorado chased Corbin after putting runners on first and second with two outs in the seventh. But Matt Reynolds retired Young on a short popup in front of the dirt cut around home plate on the third base side to end the threat.
Garland allowed four runs - three earned - on eight hits with two walks, one intentional. The right-hander, who entered the game 3-3 with a 4.60 ERA against his former team, struck out two.
"He could have went out there for another inning if we don't get to his (lineup) spot," said Rockies manager Walt Weiss. "It's another one of our starters that gave us a chance to win the game."
NOTES: Colorado is 1-9 in its last 10 series at Chase Field. . Putz threw six straight balls and bounced a throw to first base. ... Parra extended his career-best hitting streak to 13 games. ... Arizona INF Martin Prado, mired in the midst of a 1-for-22 slump, was given the day off. ... Garland has pitched past the sixth inning only once in five starts. . Before the game, the Diamondbacks activated OF Jason Kubel off the 15-day disabled list and placed SS Didi Gregorius on the 7-day concussion DL. Gregorius was hit in the head with a pitch by Josh Outman on Friday. ... Kubel, who started in left field, was 10 for 30 with two doubles, two homers and six RBIs before he was placed on the disabled list with a strained left quad on April 13.
? 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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PHOENIX (AP) - Gerardo Parra tripled and scored twice, and Josh Wilson had a run-scoring double to help lead the Arizona Diamondbacks to a 4-2 win over the Colorado Rockies on Sunday.
New York Knicks' J.R. Smith is ejected from the game after fouling Boston Celtics' Jason Terry during the fourth quarter of New York's 90-76 win in Game 3 of a first round NBA basketball playoff series in Boston Friday, April 26, 2013.
BOSTON (AP) ? New York Knicks swingman J.R. Smith was ejected from Friday night's playoff game against Boston for elbowing Celtics guard Jason Terry in the face.
Terry was guarding Smith with about 7 minutes left in the game when Smith swung his elbows widely, catching Terry in the face. Terry popped up and had to be restrained by teammates, coach Doc Rivers and referee Dan Crawford.
The officials immediately called a foul, and after video review ruled it a Flagrant 2, meaning an automatic ejection.
The Knicks entered the game with a 2-0 lead in the best-of-seven series.
Smith, the NBA's Sixth Man of the Year, finished with 15 points, four rebounds and three assists.
Tonight (April 23) through Friday at dawn may be your best chance of the year to spot a fireball, a meteor that shines brighter than Venus, the brightest planet in the sky.
By Joe Rao,?SPACE.com / April 23, 2013
In this picture provided by Wally Pacholka of AstroPics.com, a Geminid fireball explodes over the Mojave Desert in the Jojave Desert, Calif. on Dec. 13, 2009. Unlike this Geminid fireball, the fireball-watching in the next few nights isn't connected to the just-completed Lyriad meteor shower or any other regular meteor shower.
Wally Pacholka / AstroPics.com / AP
Enlarge
The dramatic fireball that exploded over Russia in February got many people wondering if there is any way to anticipate future dazzling meteors before they appear.
Click Here for your FREE 30 DAYS of The Christian Science Monitor Weekly Digital Edition
Well, meteors not associated with an annual shower are certainly tough to predict. But there are some patterns that skywatchers can keep in mind to maximize their chances of spotting a fireball (which technically is any meteor that shines more brightly than Venus in the sky).
For example, springtime is "fireball season," when the number of bright meteor sightings increases by as much as 30 percent, NASA experts say. And the three-day stretch from Tuesday (April 23) to Thursday (April 25) is perhaps the best time to watch for the next prospective fireball event, which might possibly even lead to the fall of a meteorite.?
Over the years, some real dazzlers have been seen during this time frame. And in at least two cases, the orbits of the meteors were virtually identical, suggesting Earth might hit more such space rocks when it passes through this part of its orbit.
A river of rubble?
Is there perhaps a "river of rubble" orbiting the sun that is populated by rather large meteoroids?
Unlike most of the annual meteor showers that are composed chiefly of dust and sand-sized particles ? such as the Lyrids, which peaked overnight Sunday (April 21) ? this supposed fireball stream might be made up of objects that are considerably larger, perhaps originating in the main asteroid belt between Mars and Jupiter or perhaps being shed by the nucleus of a long-dormant comet.?
The circumstantial evidence for such a meteor stream lies with two brilliant fireballs that appeared during the 1960s.
One of these fireballs cast shadows over northern New Jersey on April 23, 1962. The other was seen by thousands of people over England, Wales and Northern Ireland on April 25, 1969 and also dropped a 0.6-pound (0.27 kilograms) meteorite in the town of Sprucefield, Northern Ireland.
Memphis Grizzlies' Marc Gasol, of Spain, right, defends against Los Angeles Clippers' Jamal Crawford (11) during the first half of Game 4 in a first-round NBA basketball playoff series in Memphis, Tenn., Saturday, April 27, 2013. (AP Photo/Danny Johnston)
Memphis Grizzlies' Marc Gasol, of Spain, right, defends against Los Angeles Clippers' Jamal Crawford (11) during the first half of Game 4 in a first-round NBA basketball playoff series in Memphis, Tenn., Saturday, April 27, 2013. (AP Photo/Danny Johnston)
Los Angeles Clippers' Blake Griffin, right, defends against Memphis Grizzlies' Zach Randolph, left, during the first half of Game 4 in a first-round NBA basketball playoff series in Memphis, Tenn., Saturday, April 27, 2013. (AP Photo/Danny Johnston)
Los Angeles Clippers' Ronny Turiaf (21), of France, tries to go to the basket as Memphis Grizzlies' Ed Davis (32) and Darrell Arthur defend during the first half of Game 4 in a first-round NBA basketball playoff series in Memphis, Tenn., Saturday, April 27, 2013. (AP Photo/Danny Johnston)
Memphis Grizzlies' Zach Randolph, left, defends against Los Angeles Clippers' Blake Griffin (32) during the first half of Game 4 in a first-round NBA basketball playoff series in Memphis, Tenn., Saturday, April 27, 2013. (AP Photo/Danny Johnston)
Los Angeles Clippers coach Vinny Del Negro claps during the first half of Game 4 in a first-round NBA basketball playoff series in Memphis, Tenn., Saturday, April 27, 2013. (AP Photo/Danny Johnston)
MEMPHIS, Tenn. (AP) ? Marc Gasol had 24 points and 13 rebounds, and the Memphis Grizzlies beat the Los Angeles Clippers 104-83 Saturday to even their first-round playoff series at 2-all.
Zach Randolph finished with 24 points and nine rebounds as the Grizzlies won their second straight to ensure another stop in Memphis for Game 6. Mike Conley had 15 points and 13 assists, and Tayshaun Prince scored 15 in his best game of the series.
Chris Paul and Blake Griffin had 19 points apiece for the Clippers, and Griffin also grabbed 10 rebounds. Los Angeles' reserves outscored its counterparts again, 43-16. But DeAndre Jordan was the only other starter to score for Los Angeles, and he had two points. Chauncey Billups and Caron Butler went a combined 0 for 10 from the floor in being shut out.
Game 5 is Tuesday night in Los Angeles.
The team that controls the boards has won each game of the series so far, with Memphis owning a 45-28 advantage in Game 4. That led to a 22-2 scoring difference in second-chance points, boosted by a 13-5 edge on offensive boards.
The Grizzlies used their prowess on the glass to beat the speedy Clippers when it came to fast-break points, 18-6.
Memphis' biggest advantage is its big men, and Randolph and Gasol each took turns helping the Grizzlies turn this into a best-of-three series.
Randolph had 16 points and seven rebounds in the first half as Memphis got off to a quick start, leading 33-25 after the first quarter. Gasol scored 18 in the second half, using an effective jumper to avoid the paint after picking up his third foul with 7:54 left in the third. Randolph got his third 7 seconds later.
It didn't matter.
The Clippers never lead by more than two, the last at 60-58 on a pair of free throws by Paul with 5:58 left in the third. Gasol then hit a 23-footer that beat the shot clock and made a pair of free throws to put Memphis ahead.
Ronny Turiaf's layup tied it for the sixth and final time. Gasol found Randolph for a layup that put Memphis ahead to stay at 64-62 on the 10th and final lead change with 3:21 left in the third.
Memphis blew it open with a 19-5 surge at the beginning of the fourth and went up as much as 20, the first on a drive by Quincy Pondexter with 3:45 left at 96-76. The Grizzlies outscored the Clippers 33-16 in the quarter and 55-36 for the half.
Clippers coach Vinny Del Negro then subbed in from his bench with 3:02 remaining and had all his starters on the sideline for the final 2 minutes.
The Grizzlies set the tone from the start and led by as much as 12 in the first quarter. They went cold in the second when Paul scored nine of his 14 first-half points to help the Clippers to a 47-46 lead at halftime.
The Clippers wanted to be aggressive in what's been a physical series with lots of wrestling, especially between Randolph and Griffin. All the pounding appeared to take a toll in the second quarter as the Clippers had a chance to take their first lead only to have Griffin travel on back-to-back possessions. They couldn't even connect on a dunk as Prince tipped away a lob to Griffin.
Gasol was the key in the third. He even connected on a 23-foot jumper off an inbounds pass from Prince late in the shot clock. That tied it at 60 with 4:35 left and cranked new energy into the arena.
NOTES: Memphis improved to 17-1 when shooting at least 50 percent. ... The Grizzlies sold out their 12th straight postseason game. ... The Grizzlies played without veteran guard Keyon Dooling, who sat out with a strained muscle. ... Prince had only 10 points in the first three games combined. ... The Clippers shot 13 of 39 in the second half, compared to 20 for 35 for Memphis.
NEW YORK (Reuters) - Moody's Investors Service and Standard & Poor's on Friday said they have settled two long-running lawsuits seeking to hold them responsible for misleading investors about the safety of risky debt vehicles that they had rated.
The lawsuits had accused Moody's, a unit of Moody's Corp , and S&P, a unit of McGraw-Hill Cos, of negligent misrepresentation over their activities regarding the Cheyne and Rhinebridge structured investment vehicles (SIVs).
Morgan Stanley, which marketed both SIVs and helped structure the Rhinebridge SIV, also settled.
Settlement terms were not disclosed in the cases, which had been brought in 2008 and had sought more than $700 million (452 million pounds) of damages. Both lawsuits were dismissed with prejudice, meaning they cannot be brought again.
Moody's spokesman Michael Adler, McGraw-Hill spokesman Jason Feuchtwanger and Morgan Stanley spokesman Mark Lake confirmed their companies' respective settlements.
"This settlement allows us to put the significant legal defence and related costs, as well as the distraction, of these very protracted litigations behind us," Adler said.
Feuchtwanger said McGraw-Hill's settlement involved no admission of wrongdoing.
Lawyers for the plaintiff investors did not immediately respond to several requests for comment.
A trial in the Cheyne case had been scheduled for May 6 before U.S. District Judge Shira Scheindlin in Manhattan, who oversaw both lawsuits.
Credit rating agencies have been accused by investors, regulators and politicians of inflating the ratings of risky mortgage-backed and structured securities in a bid to win new business.
Critics said these activities also fuelled demand from investors who believed the ratings were objective, but prices collapsed once the risks materialized, helping to trigger the 2008 global financial crisis.
S&P still faces the U.S. Department of Justice's $5 billion civil fraud lawsuit filed in February over its ratings, the government's first major post-crisis action against a credit rating agency. The credit rating agency is trying to dismiss that case.
FIRST AMENDMENT
In the Cheyne and Rhinebridge cases, investors accused rating agencies of collaborating with banks to ensure that SIVs received ratings as high as "triple-A," though much of the underlying collateral was low-quality or subprime mortgage debt.
The Abu Dhabi Commercial Bank, King County in Washington state, and other investors sought $638 million of damages related to losses they claimed to have suffered when the Cheyne SIV went bankrupt in August 2007. The similarly-named firm that managed the SIV did not go bankrupt.
King County and the Iowa Student Loan Liquidity Corp, meanwhile, had been seeking $70 million of damages over Rhinebridge, which had been structured by Germany's IKB Deutsche Industriebank AG and was wound down in August 2008.
IKB settled the Rhinebridge case last year, and credit rating agency Fitch Ratings, a unit of France's Fimalac SA , settled last month.
Among the defences raised by the rating agencies were that their ratings were opinions that deserved free speech protection under the First Amendment to the U.S. Constitution.
Scheindlin limited that defence in a 2009 ruling, saying that ratings on notes sold to select investors were not "matters of public concern" deserving broad free speech protection.
The government has not hit Moody's and Fitch with lawsuits similar to the case it is pursuing against S&P.
The cases are Abu Dhabi Commercial Bank et al v. Morgan Stanley & Co et al, U.S. District Court, Southern District of New York, No. 08-07508; and King County, Washington et al v. IKB Deutsche Industriebank AG et al in the same court, No. 09-08387.
(Reporting by Nate Raymond and Jonathan Stempel in New York; Editing by Gary Hill and Lisa Shumaker)
Losers of four straight with a searching offense and erratic pitching, the Nationals? 8-1 win over the Cincinnati Reds on Thursday night was perhaps the perfect medicine for a team in an unexpected position as they near the end of the season?s first month. Their bats woke up, they got the breaks their opponents had been getting, and their starting pitcher was buzzing right from the first pitch. Finally, things were going the Nationals way.
Whether it was offense, pitching, or defense in the field: everything seemed to work out for the home team.
?That was a big day,? manager Davey Johnson said.??A lot of guys were saying to me, ?It?s been a long time since we were shaking hands.? I said no doubt about that.?
?It was just a good all-around game. That?s more like who we are: Good pitching, timely hitting.?
The Nationals broke out of their worst offensive slump of the season ? four runs total in their previous four games ? early with two scores in the second inning. Danny Espinosa, whose 26th birthday it happened to be, started things off with an RBI double to score Ian Desmond. He hit a long fly ball to right-center field that fell just beyond the reach of a sprinting Shin-Soo Choo.?
Espinosa hit a ball to nearly the exact same spot in the team?s loss on Wednesday that was reeled in, but this one dropped and bounced off the wall.
?I said it was cause it was my birthday that it fell today,? Espinosa said. ?It was nice to see it fall in. I know Choo can get after it out there. He can run balls down pretty well. So when I saw it fall in it was a big sigh of relief.?
Espinosa was then batted in by Denard Span with two outs who hit a slow chopper to shortstop Zack Cozart. Span beat the throw to first by a half-a-step, another close break for the Nats.
In the third inning the Nats would make their own luck. Bryce Harper led off with a towering home run to the lawn in dead center field, his eighth of the season. Jayson Werth then got on with a single and was moved to third because of a throwing error by Joey Votto that let Adam LaRoche reach second. A fielder?s choice on a groundout by Ian Desmond sent home Werth to bring Espinosa back to the plate. The Nats? second baseman then blasted a 2-2 sinker from Bronson Arroyo into the team?s bullpen in right field to put Washington up 6-0.
Three RBI on two extra base hits later and Espinosa was having a pretty good birthday. He was finally having fun and so were his teammates.
?It takes something like this to get a team going sometimes,? he said. ?Hitting's contagious, everybody knows that. You get a couple guys hot and everybody starts getting on base and it's kind of easier. You've got more holes to hit with and things start going the team's way and things start rolling.?
The six-run lead was plenty enough for starter Gio Gonzalez who, if it weren?t for the team?s recent offensive woes, would have been the story of the game. He put in his best start of the season allowing only one hit and two walks with seven strikeouts, redeeming himself after giving up 12 earned runs in his previous nine innings across two starts.
?I felt like I was more on top of the ball, again my team gave me confidence to go out there and pound the strike zone,? he said.?
?I was trying to make the adjustment to stop being so perfect, to just going out there and throw strikes.?
Gonzalez threw 112 pitches in eight innings with 78 of them strikes. He was particularly effective early in counts with 20 first strikes on the 27 hitters he faced.?
Gonzalez? one miscue was against Votto in the fourth inning. Having retired the Reds? first 11 batters, Gonzalez threw a 2-1 fastball that the former MVP took opposite field for a solo home run. It cleared the fence by just a few inches, but served as the only Reds? hit of the evening.
It was one hit and may have prevented the shutout, but overall Gonzalez was on his game and back to the form that helped him lead the majors in wins in 2012.
?Today was just get the ball and go,? catcher Kurt Suzuki said. ?He was rocking fire. That?s what Gio needs to do. That?s what Gio does. And when he does that, he?s successful most times out of not because his stuff is that good.?
Gonzalez? 112 pitches were a season-high and just at Johnson?s threshold for the lefty. The manager said he would have let him go one more inning and finish the game if it weren?t for his previous two bad starts.?
The Nats got two more runs across in the bottom of the eighth on a triple by Span. He scored Suzuki who had walked and Roger Bernadina who dropped his first hit of the season as Gonzalez? pinch-hitter.
Eight runs total and a game that was essentially over in the third inning gave the Nats a feeling they hadn?t felt in days and hope that maybe their recent struggles, particularly at the plate, have been solved. There were high fives and smiles, and music in the locker room, the type of dugout and clubhouse the Nats have become used to over the past year.?
?It's a different atmosphere when you win,? Espinosa said. ?It's a totally different atmosphere.?
?It was huge,? Suzuki said. ?No mystery last couple series, last couple games, especially the last six home games before this was tough. I think everybody was getting frustrated a little bit. You try to stay positive. We needed a game like this, to come out and click on all cylinders. Everybody was having fun, laughing in the dugout again. It was like back to normal.?
Leading leukemia experts: High leukemia treatment costs may be harming patientsPublic release date: 25-Apr-2013 [ | E-mail | Share ]
Contact: Andrea Slesinski aslesinski@hematology.org 202-552-4927 American Society of Hematology
Increasing, unsustainable prices for leukemia drugs represent larger issue across all cancers
(WASHINGTON, April 25, 2013) The increasing cost of treatments for chronic myeloid leukemia (CML) in the United States has reached unsustainably high levels and may be leaving many patients under- or untreated because they cannot afford care, according to a Blood Forum article supported by nearly 120 CML experts from more than 15 countries on five continents and published online today in Blood, the Journal of the American Society of Hematology (ASH). Blood Forum articles are a new feature in the journal that present well documented opinions on controversial topics and provide a sounding board for current subjects of importance to the science and practice of hematology.
CML was selected as the focus of the piece because it is now considered a highly curable disease, thanks to the emergence of powerful, targeted CML therapies known as tyrosine kinase inhibitors (TKIs) that allow patients to manage their disease with few symptoms by taking a well-tolerated pill. Since the introduction of TKI therapy more than a decade ago, the annual mortality of patients with this disease has declined from 10 to 20 percent in the early 2000s to just 2 percent today and the estimated 10-year survival of CML patients has increased from 20 percent to more than 80 percent. Patients with CML, who were once told at diagnosis that they had a grim prognosis, are now enjoying close to normal life spans as long as they receive and adhere to prescribed treatments. The management of CML has become similar to that of chronic disorders such as diabetes and hypertension, yet a key difference remains in the extremely high cost of CML drugs.
"Patients with CML have a much better outlook today than ever before, thanks to advances that have greatly improved survival rates. But these patients now face dire financial struggles as they try to maintain their treatment regimen with the drastically inflating cost of care. And this issue likely extends to patients with other types of cancer who require ongoing treatment to maintain therapeutic benefit," said corresponding author Hagop Kantarjian, MD, chairman of the leukemia department at The University of Texas MD Anderson Cancer Center.
In the Blood Forum article, Dr. Kantarjian and colleagues note that newly approved CML treatments in the U.S. are priced substantially higher than older options, and the trend is consistent among other cancer types. For example, of the 12 drugs approved by the U.S. Food and Drug Administration for various cancer indications in 2012, 11 were priced above $100,000 per yeari. Monthly cancer drug prices today (more than $10,000 per month on average) have almost doubled from just a decade ago, when they averaged $5,000 per month. The overall cost burden on families is significant, as out-of-pocket cancer care-related costs comprise approximately 25-30% of an average annual household budget. Cancer care-related costs contribute heavily to the unprecedented cost of health care in the U.S., now estimated at 18 percent of the U.S. Gross Domestic Product, compared with just 6-9% in much of Europe.ii
"A major question we need to answer is how to determine the 'right' price for these drugs. In many cases, it makes sense to let the market govern the price; however, when a product is directly related to a patient's survival over a period of years, it is critical to set a price that allows companies to profit and ensures that patients can afford their treatment," said Dr. Kantarjian. "Since CML treatments must be taken on an ongoing basis, we are concerned that the surging prices are potentially harming patients."
Research suggests that up to 10 percent of patients in the U.S. fail to take prescribed drugs, largely because of cost concerns.iii And while U.S. CML survival rates have improved in the last decade, the estimated survival remains at roughly 60 percent, suggesting that a portion of the population is not receiving adequate treatment, which may be related in part to the high cost of these therapies. By comparison, in Sweden, where costs are managed and compliance rates are high, CML survival rates are at least 80 percent.iv
"We believe that lowering the prices of CML drugs might improve accessibility to treatment and increase treatment adherence, effectively expanding the population of patients who live longer by continuing their TKI therapy," said Dr. Kantarjian.
The authors advise that advancing a long-term solution for the high price of these drugs will require the participation of and collaboration among many invested parties, including treating physicians, patients, advocacy groups, and pharmaceutical companies, as well as government entities, insurance companies, and pharmacies. Collaborations will require agreement from a cooperative group on how best to manage the research process to control treatment costs, how the community can balance those investments, and how newly approved products are priced in the market; similar to established processes in other countries around the world.
"Identifying better ways to manage the cost of cancer care will require an evolution in thinking about current pricing-related policies and regulations, including those that limit price negotiation for Medicare coverage of treatments, as well as patent-related laws that limit the introduction of more affordable generic drugs," said Dr. Kantarjian.
###
Blood, the most cited peer-reviewed publication in the field of hematology, is available weekly in print and online. Blood is the official journal of the American Society of Hematology (ASH), the world's largest professional society concerned with the causes and treatment of blood disorders.
ASH's mission is to further the understanding, diagnosis, treatment, and prevention of disorders affecting blood, bone marrow, and the immunologic, hemostatic, and vascular systems by promoting research, clinical care, education, training, and advocacy in hematology.
blood is a registered trademark of the American Society of Hematology.
i "New Drug Approvals Hit 16-Year High In 2012." Chemical and Engineering News. 91 (5): 15-17. 2013. Accessible at : http://cen.acs.org/articles/91/i5/New-Drug-Approvals-Hit-16.html
iiNational Health Expenditure Projections 2011-2020; Accessed from:
http://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/Downloads/Proj2011PDF.pdf (Accessed: 10/2012).
iii "The costly war on cancer-New cancer drugs are technically impressive. But must they cost so much?" The Economist: May 26 2011. Accessible at: http://www.economist.com/node/18743951
ivBjorkholm M, Ohm L, Eloranta S, et al. Success story of targeted therapy in chronic myeloid leukemia: a population-based study of patients diagnosed in Sweden from 1973-2008. J Clin Oncol: 29: 2514-2520. 2011. Accessible at: http://jco.ascopubs.org/content/early/2011/05/16/JCO.2011.34.7146.full.pdf
[ | E-mail | Share ]
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AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
Leading leukemia experts: High leukemia treatment costs may be harming patientsPublic release date: 25-Apr-2013 [ | E-mail | Share ]
Contact: Andrea Slesinski aslesinski@hematology.org 202-552-4927 American Society of Hematology
Increasing, unsustainable prices for leukemia drugs represent larger issue across all cancers
(WASHINGTON, April 25, 2013) The increasing cost of treatments for chronic myeloid leukemia (CML) in the United States has reached unsustainably high levels and may be leaving many patients under- or untreated because they cannot afford care, according to a Blood Forum article supported by nearly 120 CML experts from more than 15 countries on five continents and published online today in Blood, the Journal of the American Society of Hematology (ASH). Blood Forum articles are a new feature in the journal that present well documented opinions on controversial topics and provide a sounding board for current subjects of importance to the science and practice of hematology.
CML was selected as the focus of the piece because it is now considered a highly curable disease, thanks to the emergence of powerful, targeted CML therapies known as tyrosine kinase inhibitors (TKIs) that allow patients to manage their disease with few symptoms by taking a well-tolerated pill. Since the introduction of TKI therapy more than a decade ago, the annual mortality of patients with this disease has declined from 10 to 20 percent in the early 2000s to just 2 percent today and the estimated 10-year survival of CML patients has increased from 20 percent to more than 80 percent. Patients with CML, who were once told at diagnosis that they had a grim prognosis, are now enjoying close to normal life spans as long as they receive and adhere to prescribed treatments. The management of CML has become similar to that of chronic disorders such as diabetes and hypertension, yet a key difference remains in the extremely high cost of CML drugs.
"Patients with CML have a much better outlook today than ever before, thanks to advances that have greatly improved survival rates. But these patients now face dire financial struggles as they try to maintain their treatment regimen with the drastically inflating cost of care. And this issue likely extends to patients with other types of cancer who require ongoing treatment to maintain therapeutic benefit," said corresponding author Hagop Kantarjian, MD, chairman of the leukemia department at The University of Texas MD Anderson Cancer Center.
In the Blood Forum article, Dr. Kantarjian and colleagues note that newly approved CML treatments in the U.S. are priced substantially higher than older options, and the trend is consistent among other cancer types. For example, of the 12 drugs approved by the U.S. Food and Drug Administration for various cancer indications in 2012, 11 were priced above $100,000 per yeari. Monthly cancer drug prices today (more than $10,000 per month on average) have almost doubled from just a decade ago, when they averaged $5,000 per month. The overall cost burden on families is significant, as out-of-pocket cancer care-related costs comprise approximately 25-30% of an average annual household budget. Cancer care-related costs contribute heavily to the unprecedented cost of health care in the U.S., now estimated at 18 percent of the U.S. Gross Domestic Product, compared with just 6-9% in much of Europe.ii
"A major question we need to answer is how to determine the 'right' price for these drugs. In many cases, it makes sense to let the market govern the price; however, when a product is directly related to a patient's survival over a period of years, it is critical to set a price that allows companies to profit and ensures that patients can afford their treatment," said Dr. Kantarjian. "Since CML treatments must be taken on an ongoing basis, we are concerned that the surging prices are potentially harming patients."
Research suggests that up to 10 percent of patients in the U.S. fail to take prescribed drugs, largely because of cost concerns.iii And while U.S. CML survival rates have improved in the last decade, the estimated survival remains at roughly 60 percent, suggesting that a portion of the population is not receiving adequate treatment, which may be related in part to the high cost of these therapies. By comparison, in Sweden, where costs are managed and compliance rates are high, CML survival rates are at least 80 percent.iv
"We believe that lowering the prices of CML drugs might improve accessibility to treatment and increase treatment adherence, effectively expanding the population of patients who live longer by continuing their TKI therapy," said Dr. Kantarjian.
The authors advise that advancing a long-term solution for the high price of these drugs will require the participation of and collaboration among many invested parties, including treating physicians, patients, advocacy groups, and pharmaceutical companies, as well as government entities, insurance companies, and pharmacies. Collaborations will require agreement from a cooperative group on how best to manage the research process to control treatment costs, how the community can balance those investments, and how newly approved products are priced in the market; similar to established processes in other countries around the world.
"Identifying better ways to manage the cost of cancer care will require an evolution in thinking about current pricing-related policies and regulations, including those that limit price negotiation for Medicare coverage of treatments, as well as patent-related laws that limit the introduction of more affordable generic drugs," said Dr. Kantarjian.
###
Blood, the most cited peer-reviewed publication in the field of hematology, is available weekly in print and online. Blood is the official journal of the American Society of Hematology (ASH), the world's largest professional society concerned with the causes and treatment of blood disorders.
ASH's mission is to further the understanding, diagnosis, treatment, and prevention of disorders affecting blood, bone marrow, and the immunologic, hemostatic, and vascular systems by promoting research, clinical care, education, training, and advocacy in hematology.
blood is a registered trademark of the American Society of Hematology.
i "New Drug Approvals Hit 16-Year High In 2012." Chemical and Engineering News. 91 (5): 15-17. 2013. Accessible at : http://cen.acs.org/articles/91/i5/New-Drug-Approvals-Hit-16.html
iiNational Health Expenditure Projections 2011-2020; Accessed from:
http://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/Downloads/Proj2011PDF.pdf (Accessed: 10/2012).
iii "The costly war on cancer-New cancer drugs are technically impressive. But must they cost so much?" The Economist: May 26 2011. Accessible at: http://www.economist.com/node/18743951
ivBjorkholm M, Ohm L, Eloranta S, et al. Success story of targeted therapy in chronic myeloid leukemia: a population-based study of patients diagnosed in Sweden from 1973-2008. J Clin Oncol: 29: 2514-2520. 2011. Accessible at: http://jco.ascopubs.org/content/early/2011/05/16/JCO.2011.34.7146.full.pdf
[ | E-mail | Share ]
?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
A NuvaRing contraceptive. (Sandy Huffaker/Getty)Rachel Lietzke Payne started using Nuvaring in 2008, when she was a 20-year-old college student. The contraceptive device appealed to her because it was easy to use. Birth control pills have to be taken every day, but Nuvaring, which came onto the market in 2001, is inserted into the vagina and removed each month?and is just as effective at preventing pregnancy.
One Monday in October of 2010, more than a year after she first began using the vaginal ring, Payne met her father for a standing lunch date at Buffalo Wild Wings in Casselberry, north of where they lived in Orlando. When she and her dad walked out of the restaurant, Payne suddenly fell ill and spat up quarter-size chunks of blood onto the cement.
Payne was rushed to the hospital, where she spent 10 days being pumped with anti-coagulants to thin her blood. She was diagnosed as having developed a blood clot in her lung, a condition that could have been fatal. ?It took them a while to figure out that it was blood clots because I was 22 at the time,? said Payne, who is now a married 25-year-old aspiring air traffic controller with a toddler son. She was also a non-smoker, fit, and had no family history of blood clots, all potential risk factors.
But the doctors landed on what they believed might have caused the clotting: the Nuvaring.
Payne is now one of more than 1,000 women suing Merck & Co?the pharmaceutical company that manufactures the birth control?in a federal district court in Missouri. They allege that the company?s device caused them to suffer blood clots?in a few cases, fatal ones?the risks of which they say they were inadequately warned about.
The suits are the latest in a pricey legal backlash over a variety of hormonal contraceptives that have come to the market in the past 10 years. Thousands of women sued over the Ortho Evra patch, citing studies that showed a higher blood clot risk compared to traditional birth control pills, costing Ortho McNeil, a Johnson & Johnson subsidiary, millions of dollars. And as of 2012, more than 10,000 suits had been filed against Bayer, the makers of Yaz and Yasmin birth control pills, which has set aside more than $1.5 billion to settle claims against them.
Roger Denton, the lead counsel for the multi-district litigation against Nuvaring in Missouri, said he thinks the case could be as lucrative for his clients as Bayer?s litigation over Yaz and Yasmin. (Bayer has settled for an average of $216,000 with each plaintiff in that case.)
Hormonal contraceptives inhibit ovulation by releasing a combination of estrogen and progestin. While earlier iterations of progestin have shown only a slight increase in blood clot risk, recent studies have shown that newer forms of progestin?called third- and fourth-generation progestins, which were developed in the 1990s and 2000s?are associated with higher rates of blood clotting among women who take them compared to second-generation iterations of the hormone.
In fact, more than a dozen studies conducted over more than a decade have shown that women taking contraceptives containing a third-generation progestin?such as that used in Nuvaring and some birth control pills?have a 1.4 to 4 times higher risk of developing blood clots than women on contraceptives containing second-generation progestin.
The studies include a recent one funded by the FDA that tracked the health records of more than 835,000 women. It found that those who used the vaginal ring were more likely to experience venous thrombosis than women who took oral contraceptives. But the researchers warned that the finding is ?new and raises concern,? and ?needs to be replicated in other studies.?
A handful of other studies, however, have shown no increased risk. Overall, the risk is still very low, with only around six to 10 out of 10,000 women developing blood clots over a year.
The plaintiffs in the Nuvaring case allege it's not just the hormone in the device that caused their blood clots, but also the delivery system. Unlike other forms of birth control, Nuvaring dispenses hormones directly into the bloodstream, which the plaintiffs' expert witness argues could cause "spikes" of hormones that make women more susceptible to blood clots. There's currently no large study that backs up that claim.
Some experts, however, warn the results of the studies are being overblown by the media and trial lawyers, and may be scaring women away from effective birth control. More than 20 international researchers published an open letter in the Journal of Family Health and Reproductive Planning earlier this month saying the media and attorneys are creating a ?scare? that is not based on adequate research and could create more harm than good. They argue that large database studies, such as the one funded by the FDA, can be inaccurate because they don?t take into account all the confounding variables, such as obesity, that could affect blood clotting.
The letter notes that third- and fourth-generation hormonal contraceptives overall contain a very low risk of blood clots, and that more studies are needed before that risk can be determined. Overall, it notes, about four to six additional women out of every 10,000 on the newer forms of birth control would suffer a blood clot compared to women taking the older form of birth control. The risk of blood clotting goes up dramatically for pregnant women: 29 per 10,000 pregnant women develop a blood clot, meaning that the risks of unintended pregnancy are far greater than that of any hormonal birth control on the market.
The plaintiffs in the Nuvaring case say Merck did not adequately test or label the Nuvaring product to warn of these risks. Merck has disputed this, saying the company is confident its product is safe, and that it followed U.S. Food and Drug Administration (FDA) guidelines for its packaging.
The company was awarded a judicial victory last week, when a judge in New Jersey threw out seven separate suits against Nuvaring, saying the plaintiffs did not prove that Nuvaring was the cause of their blood clots. New Jersey courts have tougher standards for suing an FDA-approved product than the federal court system, however, where some of the more than 1,000 suits face trial beginning in October.
?We are confident the company has provided appropriate and timely information about Nuvaring to consumers and the medical, scientific and regulatory communities,? Lainie Keller, a spokeswoman for Merck, said in a statement. ?We remain confident in the efficacy and safety profile of Nuvaring, and will continue to always act in the best interest of patients.?
But Denton, the lead attorney for the plaintiffs, said he?s sure his cases in the district court won?t be dismissed.
?That?s what all these drug companies say,? Denton said. ?'It?s good enough for the FDA, that?s the end of the story.? But under our law that doesn?t matter. The jury decides.?
Net sales and operating cash flow up considerably; net and operating income still taking big hits
Everyone's favorite online retailer turned tablet maker and content aggregator, Amazon, has just posted its Q1 2013 financial report. There's a whole lot of numbers to jump into here, so let's get to the quick breakdown first:
Net sales of $16.07 billion, up a full 22-percent year-over-year
Operating income of $181 million, down 6-percent y-o-y
Net income of just $82 million, down sharply by 37-percent y-o-y
Operating cash flow (for the trailing 12 months) of $4.25 billion, up 39-percent y-o-y
This seems to be the trend for Amazon as of late, boasting high quarterly sales year after year, but coming up a bit short at the bottom line. Over $16 billion in sales is a massive number, but among other reasons currency fluctuations are to blame for the decreasing net income. Regardless of what the income numbers look like, Amazon isn't slowing down any time soon. During the release it took time to remind us of its current initiatives.
Amazon is continually boosting its Prime Instant Video catalog, bringing TV shows from A&E, FX, PBS, HGTV and many more. It also debuted pilots for 14 original series, which are coming out of Amazon Studios. Aside from touting increased availability of the Kindle Fire HD 8.9" in several new countries, in typical Amazon fashion it didn't break out any sales or earnings for the devices. Rest assured that Amazon is likely selling a boatload of Kindles every quarter.
Apr. 24, 2013 ? An international team of researchers, led by scientists at Boston University?s Department of Earth and Environment, has found evidence that material contained in young oceanic lava flows originated at the Earth?s surface in the Archean (>2.45 billions years ago). The new finding helps constrain the timing of the initiation of plate tectonics, the origin of some of the chemical heterogeneity in the Earth?s mantle, and may shed light on how the chaotically convecting mantle could preserve such material for so long. The study appears in the April 25 issue of the journal Nature.
Tectonic plates at the Earth?s surface move around and collide at areas called subduction zones. In these areas, one plate is forced beneath the other and is transported into the Earth?s mantle. It has long been suggested that this subducted material must be re-erupted at a later time. However, the residence time of the subducted material in the mantle is uncertain and convincing evidence of its return to the surface has been lacking.
Sulfur isotopes provide the key to the authors? discovery. According to the researchers, because mass-independently fractionated (MIF) sulfur isotope signatures were generated exclusively through atmospheric photochemical reactions until about 2.5 billion years ago, material containing such isotope signatures must have originated at the Earth?s surface in the Archean. In the new study, the researchers found MIF sulfur-isotope signatures in olivine-hosted sulfides from relatively young (20-million-year-old) ocean island basalts (OIB) from Mangaia, Cook Islands (Polynesia), providing evidence that material once at the Earth?s surface has been recycled through the mantle and re-erupted at a young ocean island.
?The discovery of MIF-S isotope in these young oceanic lavas suggests that sulfur?likely derived from the hydrothermally-altered oceanic crust?was subducted into the mantle more than 2.5 billion years ago and recycled into the mantle source of the Mangaia lavas,? says Rita Cabral, the study?s primary author and a graduate student in BU?s Department of Earth and Environment.
The data also complement evidence for sulfur recycling of ancient sedimentary materials to the subcontinental lithospheric mantle previously identified in diamond inclusions.
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The above story is reprinted from materials provided by Boston University College of Arts & Sciences, via Newswise.
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Journal Reference:
Rita A. Cabral, Matthew G. Jackson, Estelle F. Rose-Koga, Kenneth T. Koga, Martin J. Whitehouse, Michael A. Antonelli, James Farquhar, James M. D. Day, Erik H. Hauri. Anomalous sulphur isotopes in plume lavas reveal deep mantle storage of Archaean crust. Nature, 2013; 496 (7446): 490 DOI: 10.1038/nature12020
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