Skip to Content

Exxon OKs gas project, despite finance worries

SYDNEY (AFP) –
Energy giant Exxon Mobil Tuesday approved a 15 billion US dollar liquefied natural gas (LNG) project in Papua New Guinea, potentially the largest ever such deal for the impoverished Pacific country.

The venture's United States-based lead partner said the green light was conditional on securing binding contracts with two more Asian customers and finalising financial arrangements, expected by early 2010.

"We are pleased to achieve the important milestone of securing the approval of the co-venturers to move ahead with our project," said Peter Graham, managing director of Exxon's PNG subsidiary Esso Highlands.

"Pending completion of these sales and financing arrangements, significant project activity will commence in 2010," he added.

Exxon and the other partners -- Australia's Santos and Oil Search, Japan's Nippon Oil and Eda Oil, owned by PNG's government -- had previously indicated they would make a final investment decision Tuesday.

Instead, they extended the deadline to allow for completion of contracts for the project's full annual capacity of 6.6 million tons for 30 years.

Patersons Securities associate director John Curtin said the deal, "if it gets off the ground at these prices ... will double the size of PNG's GDP".

Australian trade minister Simon Crean said his government would lend up to 500 million US dollars for the project's development, through its export credit agency. Similar agencies in the United States, Japan, China and Italy have already offered debt financing.

"This project will provide a boost to PNG, the region and Australia," said Crean, adding that demand for LNG would boom as the world shifted to cleaner sources of energy.

"Beyond Australia?s competitive advantage and expertise in this field, the PNG development could enhance the significance of our region as a reliable global supplier of energy," he said.

Binding contracts have been signed for the sale of a combined 3.8 million tons per year from the project to China's Sinopec and Tokyo Electric Power Co in Japan.

Preliminary agreements which are yet to finalised have been reached with Osaka Gas Co, also of Japan, and Taiwan's CPC Corp.

Exxon Mobil said PNG's government had acquired a 16.6 percent stake, while PNG landowners took 2.8 percent.

"It's a very big deal for Oil Search, which owns 29 percent of the project, and Santos, which owns 13.5 percent of the project," Curtin said.

Fantasy Basketball

Fantasy Basketball

There are many rule variations when playing fantasy basketball. The rules used in a particular league are determined by the rule settings. Some common rule variations are discussed below. Commonly, fantasy basketball leagues may track as few as three or as many as eleven categories. Three-category leagues usually account for only points, rebounds, and assists. Five-category leagues generally add blocks and steals. Eight-category leagues usually add field goal percentage, free throw percentage, and either three-point field goals made or three-point field goal percentage. Nine-category leagues usually add the category of turnovers. Rarely, other statistics such as fouls are counted.

Some leagues allow the league "commissioner" to determine which categories will be tracked. If these categories are chosen poorly, the league may be unfairly weighted for or against certain positions. For example, a league that tracks points, rebounds, assists, steals, and three-point field goals would be weighted toward guards, who typically have higher numbers in many of these categories, and against power forwards and centers, who typically have higher numbers in the block and field goal percentage categories, which are not counted. In public leagues, the number of teams in a league is typically ten or twelve. In private leagues, which are invitation-only and usually utilized by players who want to compete against a group of people they know, the number of teams will vary substantially.

Killing bin Laden key to Al-Qaeda defeat: McChrystal

WASHINGTON (AFP) –
Killing or capturing Osama bin Laden is the key to defeating the Al-Qaeda terror network, the NATO commander in Afghanistan told US legislators in testimony on Capitol Hill.

General Stanley McChrystal added that the additional 30,000 troops ordered by President Barack Obama would turn back insurgent momentum in Afghanistan "by this time next year" and cut off the Taliban from the population.

Testifying Tuesday about the US military surge of forces in Afghanistan, he said of Bin Laden: "I believe he is an iconic figure at this point whose survival emboldens Al-Qaeda as a franchising organization across the world."

"It would not defeat Al-Qaeda to have him captured or killed, but I don't think that we can finally defeat Al-Qaeda until he's captured or killed," McChrystal told the Senate Armed Services Committee. Related article: US general confident on surge

US officials believe that bin Laden -- considered the chief mastermind of the attacks of September 11, 2001 on New York and Washington that killed nearly 3,000 people -- is hiding along the mountainous Afghan-Pakistani border.

US ambassador to Afghanistan Karl Eikenberry, also speaking at the hearing, said that capturing or killing bin Laden "does remain important to the American people -- indeed, the people of the world."

McChrystal and Eikenberry testified one week after President Barack Obama ordered an additional 30,000 troops to Afghanistan.

US national security adviser James Jones told CNN on Sunday that the latest intelligence reports suggest that Bin Laden "is somewhere inside north Waziristan, sometimes on the Pakistani side of the border, sometimes on the Afghan side of the border, hiding in very, very rough mountainous area, generally ungoverned."

However Defense Secretary Robert Gates, also speaking Sunday, said in an interview that Washington did not know where bin Laden was and had lacked reliable information on his whereabouts for years. Related article: Gates in Afghanistan

A recent Senate report said Bin Laden was "within the grasp" of American forces in late 2001 but escaped because then-defense secretary Donald Rumsfeld rejected calls for reinforcements.

McChrystal, head of US and allied forces in Afghanistan, predicted that the US troop increase would reverse the momentum of Taliban insurgents and ensure their ultimate defeat.

By mid-2011 "it will be clear to the Afghan people that the insurgency will not win, giving them the chance to side with their government."

The US general said he was confident of success because the Taliban remained unpopular, and that Afghans did not see foreign troops as occupiers but as a "necessary bridge to future security and stability."

The Taliban "are not a national liberation front that people inside are just waiting for their success," the general said. "They succeed largely on their coercion."

McChrystal presented a united front at the hearing with Eikenberry, despite public clashes between the two over war strategy that had played out over the past weeks in leaked news reports.

Obama's plan combines a troop buildup with a target date of July 2011 for the start of a gradual US withdrawal, a provision that has drawn criticism from opposition Republicans who say it plays into the hands of the enemy.

Though McChrystal told lawmakers he did not propose the withdrawal target date, he said setting a timeline for a handover to Afghans posed no military problem -- but acknowledged that the insurgents could misrepresent the date for propaganda purposes.

Obama's promise to begin withdrawing troops in mid-2011 has sparked concern in Afghanistan and neighboring Pakistan that insurgents could wait out the surge and attack a pared down force in 18 months' time.

McChrystal warned that coalition forces faced "a complex and resilient insurgency," and that the most difficult task would be improving the credibility of local and national government.

The general also said he was satisfied with the reinforcements, and that he did not expect to ask for more forces within a year.

As a first step in the troop buildup, a contingent of 1,500 Marines will begin arriving next week in the southern Helmand province, where commanders hope to turn the tide against Islamist insurgents.

With thousands of troops due to pour into the country's south, the insurgents will face long-odds in combat and likely be forced to turn to more attacks using homemade bombs, a senior military official told reporters.

"If they try to contest with any kind of head-on-head forces, they'll get swamped in the south, and they'll just get hammered," said the official, who spoke on condition of anonymity.

A survey out Tuesday showed more Americans backing the war since Obama presented his plan last week. Support for the mission jumped nine points to 57 percent against 37 percent opposed, according to the Quinnipiac University poll.

Iran to deal 'firmly' if yacht Britons found guilty

TEHRAN (AFP) –
Iran said on Tuesday that five British sailors detained in southern Gulf waters by the elite Revolutionary Guards would be dealt with firmly if found guilty of what it called "ill intentions."

The five men on board an 18-metre (60-foot) racing yacht were detained last week by the Revolutionary Guards, the force's navy chief told the Fars news agency.

President Mahmoud Ahmadinejad's chief of staff, Esfandiar Rahim Mashaie, said the way to deal with the Britons "arrested in the Persian Gulf by Iranian forces will be decided by the judiciary," Fars reported.

"If these people's ill-intention is proven, they will be dealt with seriously and firmly," he said, adding that Tehran had in the past dealt firmly with people who "entered Iran illegally."

Reacting to Mashaie's comments, Foreign Secretary David Miliband said "there's certainly no question of any evil intent," insisting that the five were clearly innocent and saying that he hoped for a speedy resolution.

He also said the sailors' detention has "nothing to do" with politics or the standoff over the Islamic republic's nuclear programme, which the West suspects has military aims despite Tehran's denial.

"This is a human story of five young yachtsmen," Miliband told reporters in London. "It's a consular case, which is being treated as a consular case by the UK, and I'm sure will be treated as a consular case by the Iranian authorities."

He said earlier on Tuesday that Britain has "no argument" with Tehran over the sailors and stressed that they were being treated well.

The seizure, which recalls the detention by Iran of 15 British navy personnel in the Gulf in 2007, comes amid already heightened tensions between Tehran and the West over Iran's nuclear plans.

The five were sailing from Bahrain to the start of a race in the emirate of Dubai when their yacht, "The Kingdom of Bahrain," was stopped last Wednesday in the Gulf, the Foreign Office said.

They are believed to have been intercepted near the Iranian-controlled island of Abu Musa, whose ownership is disputed by Iran and the United Arab Emirates, a Bahraini interior ministry source told AFP.

Miliband stressed that the latest incident was different from the one in 2007, which involved military personnel.

"It is important to say that these are civilians, not Royal Naval personnel," he said. "They are yachtsmen, they were going about their sport and it seems they may have strayed inadvertently into Iranian waters."

Revolutionary Guards navy chief Ali Reza Tangsiri told Fars that the Britons had been arrested by his forces.

"The British intruders have been arrested by the Guards' navy," he said, adding that "the movements in the Persian Gulf are under the supervision of Sepah (Guards)."

The yacht may have been drifted into Iranian waters after breaking its propeller en route to the Dubai-Muscat Offshore Sailing Race, which started last Thursday, British media reports said.

Informed sources in London have named the crew as Oliver Smith, Oliver Young, Sam Usher, Luke Porter and David Bloomer.

On a visit to Seoul, Iran's Nobel peace laureate Shirin Ebadi called for their release. "I believe the Iranian government has arrested them without warnings. They must be released as soon as possible," she told reporters.

Ebadi, a lawyer, said the Britons might have entered Iranian territorial waters by mistake. "In this case, maritime police should have escorted them out into international waters," she said through an interpreter.

Charles Porter said he had spoken to his 21-year-old son Luke on a mobile phone since the incident and that he appeared to be in good spirits.

"From what we understand there was an oilfield on their charts -- which is a restricted area -- so they chose to go one side of it," Porter said, adding the yacht may therefore have strayed too close to an Iranian island.

The Foreign Office said it could not say where the Britons were being held or if they were in prison.

In the 2007 incident, eight sailors and seven marines were captured on March 23. Britain insisted they were in Iraqi territorial waters, while Tehran said they were in Iranian waters.

During the 13 days they were held, the 14 men and one woman were not mistreated but they were paraded on Iranian television, sparking anger from Britain and other Western governments.

Salahi denies he and wife were gate-crashers

WASHINGTON – A man who made his way uninvited into a White House state dinner is denying that he and his wife are gate-crashers.
In his first nationally broadcast interview since the incident, Tareq Salahi (TAH'-rehk sah-LAH'-hee) told NBC's "Today" show that the whole experience has been "the most devastating thing that has ever happened" to he and his wife, Michaele.
Salahi said flatly that the couple "did not party-crash the White House." He said the pair is cooperating with the Secret Service and they have "great respect" for President Barack Obama. Salahi told interviewer Matt Lauer he's confident "the truth will come out." about the circumstances surrounding his and his wife's attendance at the state dinner for the visiting prime minister of India.

Obama orders Afghan strategy into force

WASHINGTON (AFP) –
President Barack Obama has given fateful orders likely to send thousands more troops to Afghanistan in a political gamble meant to forge an eventual US exit from a costly and gruelling war.

"The commander in chief has issued the orders," White House spokesman Robert Gibbs said Monday, as Obama briefed world leaders on his new Afghan strategy, a day before making a major televised address to the American people.

The plan emerged from an exhaustive policy review amid extreme weariness of the war among Americans, and as supporters warned Obama could be risking his presidency by deploying thousands more men to a Vietnam-style quagmire.

Obama is expected to order between 30,000 and 35,000 more troops to bolster the US effort to repel a resurgent Taliban, secure major cities and fast-track training for Afghan security forces, alongside a separate civilian aid surge.

The president will also assure Americans and regional leaders he will not underwrite an indefinite and costly stay in Afghanistan for US troops.

"This is not an open-ended commitment," Gibbs said, painting the plan as an eventual pathway for US troops to come home.

"We are there to partner with the Afghans, to train the Afghan national security forces, the army and the police, so that they can provide security for their country and wage a battle against an unpopular insurgency."

The White House said Obama delivered orders marking the most crucial leadership test of his presidency in the Oval Office so far, on Sunday, after telling top aides of his final decision.

He met generals and top security aides in the Oval Office.

He then spoke directly by secure video-link to Afghan war commander General Stanley McChrystal, who warned earlier this year the conflict would be lost without more troops -- and US ambassador to Kabul Karl Eikenberry.

Obama will address Americans in a major televised speech to cadets at the US Military Academy at West Point at 8:00 pm Tuesday (0100 GMT Wednesday).

He will tell a nation weary of years of conflict and humbled by the worst economic crisis in generations, why it must risk yet more lives and wealth in a war launched after the September 11 attacks in 2001.

His message will be compelling listening for voters, lawmakers and soldiers, US allies, leaders in Pakistan and Afghanistan, and Taliban and Al-Qaeda insurgents battling Washington in a bloody eight-year war.

Many of Obama's core political supporters, and key Democrats worried about ballooning budget deficits, are wary of more troop deployments. Republicans have however demanded the president answer the generals' calls for more help.

As he launched a public relations offensive to market the new strategy, Obama called French President Nicolas Sarkozy and Russian President Dmitry Medvedev on Monday.

French newspaper Le Monde said Washington had asked for 1,500 more French troops.

Obama also spoke with by secure video link with Gordon Brown after the British prime minister announced he would increase British regular troop numbers by 500 to 9,500 in December.

Obama will also talk to Pakistani President Asif Ali Zardari and Afghan President Hamid Karzai, who both will be key players in the new strategy.

The US leader told Australian Prime Minsiter Kevin Rudd of his plans in person, during Oval Office talks.

Rudd pledged send more police trainers and civilian aid experts to Afghanistan, saying his country was in "for the long haul" but did not pledge more troops beyond 1,550 Australia has already committed.

Consultations with key players in Congress, where some Democrats have expressed skepticism about new troop deployments, were taking place on Monday and Tuesday.

Some 35,000 American soldiers were fighting the Taliban-led insurgency when Obama took office. After an initial boost in February there are now about 68,000.

More than 900 American soldiers have lost their lives in Afghanistan and October was the deadliest month since the start of the war in 2001 with 74 US soldiers killed.

Obama Sunday spoke to Secretary of State Hillary Clinton by telephone, then met Defense Secretary Robert Gates; Admiral Mike Mullen, chairman of the joint chiefs of staff; General James Cartwright, the vice chairman of the joint chiefs; White House chief of staff Rahm Emanuel and General David Petraeus, head of US central command.

Business Broker

Traditionally, the broker provides a conventional full-service, commission-based brokerage relationship under a signed agreement with a seller or "buyer representation" agreement with a buyer. In most states this creates, under common law, an agency relationship with fiduciary obligations. Some states also have statutes which define and control the nature of the representation and have specific business broker licensing requirements.

In some states of the USA, business brokers act as transactions brokers. A transaction broker represents neither party as an agent, but works to facilitate the transaction and deals with both parties on the same level of trust. Most states that operate business transactions as Transactions Brokers also operate Real Estate transactions as Transaction Brokers.

visit

Adult Halloween Costumes

Adult Halloween Costumes

One custom which persists in modern-day day Ireland is the baking (or more often nowadays the purchase) of a barmbrack (Irish "báirín breac"), which is a light fruit cake into which a plain ring is placed before baking. It is said that those who get a ring will find their true love in the ensuing year. See also king cake.

Scotland, having a shared Gaelic culture and language with Ireland, has celebrated the festival of Samhain (Pronounced Sow-win) robustly for many centuries. The autumn festival is pre-Christian Celtic in origin, and is known in Scottish Gaelic as Oidhche Shamhna the “End of Summer”. During the fire festival, souls of the dead wander the earth and are free to return to the mortal world until dawn. Traditionally bonfires and lanterns (samhnag) in Scottish Gaelic, would be lit to ward off the phantoms and evil spirits that emerge at midnight. The term Samhainn or Samhuinn is used for the harvest feast, and an t-Samhain is used for the entire month of November.

Study: New device improves heart failure survival

ORLANDO, Fla. – Doctors say that a new type of heart pump greatly improves survival of people with severe heart failure. It could become the first one of these devices to be widely used as a permanent treatment.
The device is implanted next to a patient's own heart to help it pump. In a study, the new device increased by four times the number of patients who survived at least two years, compared to an older pump that is used now just for short periods to keep people alive until a heart transplant can be done.
The big issue is cost. The pump costs $80,000, plus $45,000 for the surgery and hospital stay to implant it.
"It will allow older people who are not heart transplant patients to stay alive but at a higher cost. It's all about who's going to pay," said Cleveland Clinic heart chief Dr. Steven Nissen, who had no role in the research.
The device — called the HeartMate II and made by Thoratec Corp. of Pleasanton, Calif. — is the first of a new generation of smaller pumps that push blood continuously rather than simulating a heartbeat as older pumps do. A wire from the patient's abdomen connects the device to a small computer and batteries the patient wears in a belt pack.
The pump was approved last year for use in people waiting for a transplant. The new study tested it in very sick heart failure patients not eligible for a transplant.
It enrolled 200 people as young as 26 and as old as 81 at several sites in the United States. Two-thirds got the new device; the rest received an older HeartMate pump. After two years, 46 percent of those on the new pump and 11 percent of those on the old one were alive without having suffered a stroke or needing an operation to fix or replace the device.
Results were presented Tuesday at an American Heart Association conference and published by the New England Journal of Medicine.
___
On the Net:
New England Journal: http://www.nejm.org

GOP senators talk of boycotting climate bill

WASHINGTON – A threatened Republican boycott of a Senate committee's consideration of climate legislation is exposing the sharp partisan divide over a Democratic proposal to combat global warming.
Republicans for the most part plan to stay away from a meeting of the Senate Environment and Public Works Committee on Tuesday as the panel begins deliberations over legislation that would cap greenhouse gases from power and industrial plants and curb the use of fossil fuels.
Democrats have a 12-7 majority in the committee and enough votes to advance the measure to the full Senate. But GOP members are demanding additional studies on the cost and job impact of the bill, arguing that an analysis by the Environmental Protection Agency was inadequate. The EPA study projected it would cost average households no more than $111 a year.
On Monday, the ranking Republicans on five other committees that will have some say in climate legislation also called the EPA analysis unsatisfactory and said senators should not be expected to vote on a bill "without a full and complete analysis of the likely effects."
The Republicans warned in a letter to Sen. Barbara Boxer, D-Calif., the environment committee chairman, that failure to accommodate GOP senators seeking further studies "would severely damage rather than help" the chances of getting the bipartisan support needed to get a bill through the Senate.
Boxer called the EPA cost study "unprecedented in scope" and said it didn't matter that it was largely based on an analysis of the House-passed climate bill because "our bill is 90 percent the same."
Boxer told reporters late Monday she wants to try to accommodate the Republicans, but insisted she will push ahead with plans to begin voting on amendments to the bill. But when those votes will start was unclear. Boxer said Tuesday would be limited to senators' remarks, and said she will make officials from the EPA available so Republicans can quiz them about their cost study.
"We think this is going the extra mile for our friends on the other side," Boxer told reporters. "We want to move the process forward."
The Democratic bill calls for cutting greenhouse gas emissions from power plants and industrial facilities 20 percent by 2020 and 83 percent by mid-century. Polluters would be given pollution permits that they could trade among themselves to ease the economic effect of the transition from fossil fuels.
Republicans have argued the bill amounts to a huge energy tax because energy, including electricity, from fossil fuels will become more expensive.
Democrats privately called the GOP tactic largely an attempt to delay consideration of climate legislation and said all seven of the committee's Republicans already had made clear that they have no intention of voting for the bill.
While Boxer said she hoped the Republicans would change their minds and participate, Sen. Frank Lautenberg, D-N.J., another committee member, wasn't as kind at a news conference.
"It's almost like schoolchildren over there," said Lautenberg, referring to the GOP boycott.

UBS posts 564 mln francs loss for third quarter

ZURICH (AFP) –
Swiss banking giant UBS plunged into further losses of 564 million francs (373 million euros, 552 million dollars) for the third quarter, but said it expected its situation to improve in coming months.

"Having stabilized the bank?s financial condition and resized the business, UBS expects to see further progress in restoring the underlying profitability of the business in future quarters, particularly in 2010," said the bank in its quarterly earnings statement.

The Zurich-based bank, one of the biggest losers in the global financial crisis, has been struggling to recover.

While several other international banks have posted sharp profits for the quarter, UBS posted its fourth quarterly loss in a row on Tuesday.

The bank also failed to stem an outflow of funds, with customers withdrawing assets amounting to 36.7 billion francs over the three months ending September 30.

"The bank does not expect an immediate recovery in client net new money flows, and the impact of low interest rates on net interest income continues to hold back revenues, especially in Wealth Management and Swiss Bank," it said.

As for its investment bank unit, which has been blamed for much of the losses during the crisis, UBS said its fourth quarter results will reflect the "early stage of its recovery."

Ex-con charged in 4 fatal shootings in 'Mayberry'

MOUNT AIRY, N.C. – A soured love affair may have led an ex-convict to gun down four men in the town that inspired the idyllic community of Mayberry on the 1960s TV series "The Andy Griffith Show," police said Monday.
Marcos Chavez Gonzalez, 29, was charged with four counts of murder in the slayings late Sunday outside a television store in Mount Airy, about 100 miles north of Charlotte.
The four were shot with a high-powered assault rifle outside Wood's TV, in the shadow of a water tower that says "Welcome to Mount Airy" and has a picture of Griffith and Opie, his son on the show.
Police do not believe the shootings were random. Mount Airy Police Chief Dale Watson said officers are investigating several leads, including whether it was a contract killing or repercussions from a love affair gone bad.
"This is Mayberry ... Andy Griffith's house is in spitting distance here," said Michael Wood, one of the owners of Wood's TV.
The town, population 8,700, has built a tourist trade on nostalgia for the show that continues to thrive in syndication.
Watson identified the victims — all residents of the town — as Victor Alfonso Martinez-Jimenez, 22; Javier Manuel Martinez, 21; Juan Manuel Martinez, 26; and Marcos Oviedo Aguliar, 21.
Michelle Oviedo, 21, said her boyfriend and brother were among the dead and the alleged shooter is her mother's boyfriend. She said she was sitting on her porch not far from Wood's TV when she heard the gunshots.
"When I got there, Javier and my brother were already gone," she said. "They were on top of each other."
Jose Armando Hernandez, 46, said through a translator that three of the victims were his nephews. He said his family is "destroyed" over the deaths, which he said stemmed from a problem with a woman.
Gonzalez was arrested without incident at a motel about 50 miles northeast of the town, Henry County, Va., Sheriff Lane Perry said. He was unarmed when he surrendered just before 4 a.m. to officers who had surrounded the motel.
He was extradited from Virginia and was being held in the Surry County jail. Jail workers said it was not clear whether he had an attorney.
Watson said 16 shots were fired but the assault rifle had not been found.
"It was quite a crime scene," he said.
State prison records show Gonzalez was released more than two years ago after serving more than two years on a 2002 conviction for kidnapping a minor and a probation violation.
State records show the felony kidnapping charge required Gonzalez to register as a sex offender. North Carolina's post-release supervision of Gonzalez ended in June 2006 when he returned to prison after failing to stay in contact with a probation officer, Correction Department spokesman Keith Acree said.
Nursing supervisor Sue Coe at Northern Hospital of Surry County confirmed that two people died at the store around 2:30 p.m. Sunday. She said two who were wounded died at the hospital, just across the street from the store.
By Monday, someone had set up a makeshift memorial with flowers. Mourners gathered there and some women lay on the ground crying. Someone christened the memorial with a bottle of Corona beer, which sat half empty next to brightly colored candles with photos of saints on them.

Gary Chilton, an owner of Chilton Insurance Group, which shares the building with Wood's TV, said the crime is an anomaly. Andy Griffith doesn't live there any more, but the town is still quiet.

"I'm not sure it's totally sunk in because it's so unusual. On any given Sunday there is nothing here in this parking lot. There's nothing here at all," he said. "My biggest question is why in this parking lot at all. Why Wood's TV parking lot?"

___

Associated Press writers Emery Dalesio in Raleigh and Mitch Weiss in Charlotte contributed to this report.

Inventory Software

Computer software is often regarded as anything but hardware, meaning that the "hard" are the parts that are tangible while the "soft" part is the intangible objects inside the computer. Software encompasses an extremely wide array of products and technologies developed using different techniques like programming languages, scripting languages or even microcode or a FPGA state. The types of software include web pages developed by technologies like HTML, PHP, Perl, JSP, ASP.NET, XML, and desktop applications like OpenOffice, Microsoft Word developed by technologies like C, C++, Java, C#, etc. Software usually runs on an underlying software operating systems such as the Linux or Microsoft Windows. Software also includes video games and the logic systems of modern consumer devices such as automobiles, televisions, toasters, etc.

Computer software is so called to distinguish it from computer hardware, which encompasses the physical interconnections and devices required to store and execute (or run) the software. At the lowest level, software consists of a machine language specific to an individual processor. A machine language consists of groups of binary values signifying processor instructions that change the state of the computer from its preceding state. Software is an ordered sequence of instructions for changing the state of the computer hardware in a particular sequence. It is usually written in high-level programming languages that are easier and more efficient for humans to use (closer to natural language) than machine language. High-level languages are compiled or interpreted into machine language object code. Software may also be written in an assembly language, essentially, a mnemonic representation of a machine language using a natural language alphabet. Assembly language must be assembled into object code via an assembler.

Inventory Software

Obama warns Afghan president: Time for new chapter

WASHINGTON – President Barack Obama greeted Hamid Karzai's election victory with as much admonishment as praise on Monday, pointedly advising America's partner in war he must make more serious efforts to end corruption in Afghanistan's government and prepare his nation to ultimately defend itself.
"I emphasized that this has to be a point in time in which we begin to write a new chapter," Obama said in describing his phone call to the Afghan president. When Karzai offered back assurances, Obama said he told him that "the proof is not going to be in words. It's going to be in deeds."
Obama's message of stern solidarity came as he considers sending tens of thousands more U.S. troops into the war zone in Karzai's country.
Karzai won a second term Monday when competitor Abdullah Abdullah pulled out of the Nov. 7 runoff, suggesting it would be doomed by fraud just as the first voting in August was. The handling of the first election cost Karzai in international credibility.
Yet the White House put its weight behind the legitimacy of the final outcome after helping to broker a runoff that never happened. Obama called the process "messy" but said Karzai won in accordance with Afghan law. The White House repeatedly said Abdullah had pulled out for his own political and personal reasons.
The collapse of the planned run-off increases pressure on the Obama administration to quickly end its lengthy deliberations about whether to commit more U.S. forces to a worsening war. Obama may announce his revamped war strategy, including a decision on sending more troops, early next week before a planned overseas trip.
White House press secretary Robert Gibbs acknowledged that Karzai's win by default is a factor in the coming decision about troops but did not say the timetable for an announcement has changed. The administration continues to say it will happen in the "coming weeks."
In recounting his call to Karzai, Obama spent most of his time saying what he expects from his fellow president: more diligent efforts to end corruption, cooperation in accelerating the training of Afghan security forces, tangible benefits in the lives of the Afghan people.
Those aren't just Obama's standards. He is under pressure to show Congress and the public that the U.S. is dealing with a trustworthy partner, particularly if it is going to send more troops there. Many Americans have grown weary of the war and are questioning its worth.
About 68,000 U.S. troops are already in Afghanistan, where October was the deadliest month for U.S. forces. Several thousands NATO troops from various countries are also committed to a war that has stretched into its ninth year and is focused on combatting insurgents and dismantling al-Qaida terrorists.
Obama said Karzai needs to "take advantage of the international community's interest in his country."
Indeed, the White House made clear that the election gave Karzai legal legitimacy but not necessarily any new boost of credibility.
"Nobody has ever made the accusation that credibility was going to be had simply out of one election," Gibbs said.
Relieved U.S. officials said the outcome accomplished two main objectives that have been part of weeks of strategy discussion in Washington: The results yielded finality to a messy process and came only after Karzai acknowledged the illegitimacy of the original balloting.
Knowledge that Karzai would continue at the helm of the Afghan government changed little in the administration's calculus, at least in terms of pushing for reform and anti-corruption and counter-narcotics efforts, said officials who have been involved in strategy discussions. The U.S. government feels the outcome gives it continued leverage to push for reform in Karzai's political house, the officials said.
They spoke on condition of anonymity because Obama has not announced his decision on strategy and troops.
Karzai has led Afghanistan since U.S. forces invaded to oust the Taliban in 2001. He won election in 2004, and his latest victory will give him another five-year mandate.
___

Associated Press writers Anne Gearan and Matthew Lee contributed to this story.

Islamists kill six Algerian guards in ambush

ALGIERS (AFP) –
An armed Islamist group on Thursday killed seven private security guards in an ambush in the Kabylie region east of the capital, residents and security sources said.

The group of guards were on their way to pick up employees of the Canadian engineering firm SNC-Lavalin when they were attacked 25 kilometres (16 miles) south of Tizi Ouzou.

Six of the guards were killed instantly and the body of the seventh was found near the site of the ambush.

The driver of the bus was badly wounded in the attack and taken to hospital in the nearby town of Boghni.

It was the deadliest attack in the country since July, when Islamists killed 11 in an attack on a military convoy.

Canadian firm SNC-Lavalin is building a water pipe network in the drought-hit area south of Tizi Ouzou.

Shortly after the ambush, security forces launched a sweep of the area, local people said.

The string of attacks has been blamed on Al-Qaeda in the Islamic Maghreb (AQIM), which emerged out of the Algerian fundamentalist Salafist Group for Preaching and Combat and sees itself as the north African wing of Osama bin Laden's network.

Earlier this month Algerian government forces killed an armed Islamist identified as AQIM commander Mourad Louzai.

In recent weeks, the security forces claim to have killed several dozen armed Islamists, including Bilal Abou Adnane, who was one of AQIM's deputy regional chiefs.

Corzine Looks to Beltway for N.J. Campaign Support

Oct. 22 (Bloomberg) -- New Jersey Governor Jon Corzine has
stood beside President Barack Obama in Hackensack and Holmdel.
He shared a stage with Vice President Joseph Biden in
Philadelphia this summer and again this week in Edison. Even
former President Bill Clinton got called in.

With less than two weeks until the state’s gubernatorial
election, Corzine is counting on the star power of the national
Democratic leadership to attract the 23 percent of Democrats who
said they remain undecided in an Oct. 14 Quinnipiac University
poll. Obama stumped for Corzine yesterday at Fairleigh Dickinson
University in Hackensack.

“He’s one of the best partners I have in the White
House,” Obama said during a 27-minute speech in which he said
Corzine helped craft economic stimulus legislation. “New Jersey
needs to give Jon Corzine four more years.”

Democrats outnumber Republicans by more than 720,000 voters
across the most densely populated area in the country, where
residents haven’t elected a Republican to statewide office since
1997. Corzine, 62, is the only U.S. governor seeking re-election
this year, as voters blame him for a variety of fiscal woes.

Until this month, Corzine trailed Republican Christopher
Christie in polls. The governor caught Christie, 47, after
launching ads attacking the Republican’s support for ending
health insurance mandates and his links as a fundraiser for
former President George W. Bush.

Obama Factor

In the spots, Corzine questioned Christie’s driving record
following a 2002 traffic accident in which Christie turned the
wrong way down a one-way street, hit a motorcyclist and wasn’t
issued a ticket; and his ethics for giving a loan to an aide who
worked for him when he was U.S. Attorney for New Jersey.

Corzine, former chairman of Goldman, Sachs & Co., tied with
Christie, each with about 40 percent, in this month’s Quinnipiac
poll, which had a margin of error of 2.8 percentage points. Two
days before the president’s July 16 visit, the incumbent trailed
Christie, 41 percent to 53 percent, in a poll that had an error
margin of 2.5 percentage points.

Sixty-one percent of voters approved of Obama in that July
poll; among Democrats, the president got a 90 percent rating. In
an August poll, Obama’s approval was 56 percent, while 89
percent of Democrats liked his performance.

“The tactical edge Corzine wants here is mobilization,”
said Peter Woolley, director of Fairleigh Dickinson’s PublicMind
polling center. “The Democratic game plan seems to be simply to
outmuscle the Republicans and convince their strong and broad
base of voters to stick with the party.”

Biden, Clinton

Earlier this week, Biden told a cheering crowd in a
gymnasium at Middlesex County College in Edison that he trusted
Corzine’s views on the economy so much that he had sought out
the governor’s opinion on how to handle the recession.

“It’s great to be here with one of the best partners that
Barack and I have in the country,â€

Clinton, speaking Oct. 20 to South Jersey Democrats at a
ballroom in Collingswood, said Corzine’s re-election was
important for the country and the state. Clinton joined the
first-term governor for a second rally later that day at Rutgers
University in New Brunswick.

Obama rallied 3,500 Democratic voters yesterday, telling
them that Corzine extended unemployment benefits for 600,000
jobless and added more than 100,000 children to health-care
rolls. The campaign distributed tickets to the event.

During his address delivered as the local evening news was
being broadcast, Obama said he wasn’t speaking solely to those
in attendance. Rather, he said, he was aiming his remarks at
“all of those watching out there,â€

‘Motivating Folks’

“Motivating folks to get to the polls and vote is going to
be part of what we have to do,” said Union Assemblyman Joseph
Cryan, head of the Democratic State Committee. “We do that
well, but the president can always help us do it better.”

Adenah Bayoh, 31, who owns an International House of
Pancakes restaurant in Irvington, said she was undecided before
attending the rally. She voted for the governor in 2005. Bayoh,
a Fairleigh Dickinson alumnus who was drawn to the event by
Obama, said she’s behind Corzine now.

“Obama made some great points in that right now, people
everywhere are losing their jobs and the economy is bad,” she
said in an interview. “I’ve always been a Democrat, but I
haven’t been that inspired in this election.”

Overcoming Indifference

Krishna Yalla, 24, said he was indifferent before attending
the rally. Yalla, who’s unemployed after graduating from the
university in May with an economics degree, said the event
energized him.

“For me, it was Obama,” Yalla said as he filed out of the
auditorium. “To have a public endorsement from the president,
who I support, is a huge push.”

Christie released a Web video yesterday ahead of Obama’s
visit titled “Yes We Can,” which features the president
talking about the need for change. “If you want real change,
start by changing governors,” Christie’s campaign said in the
video description.

The Republican candidate was scheduled today to make stops
at a diner in Newton and a retirement community in Hackettstown.
Corzine planned to be in Camden this morning for an event at
Cooper University Hospital, where he spent 18 days after a near-
fatal car crash in 2007. The governor then was headed to
Woodbridge this afternoon to receive a New Jersey State
Policemen’s Benevolent Association endorsement, according to his
campaign schedule.

Last Debate

Both candidates were scheduled to appear along with
independent Chris Daggett in their third and final debate
tonight at 8 p.m. on WBGO Radio. Daggett, a former commissioner
of the state Department of Environmental Protection, received 14
percent of the vote in Quinnipiac’s poll this month, up from 8
percent in July.

Daggett has helped Corzine by taking voters from Christie,
said David Redlawsk, director of the Rutgers-Eagleton Poll and a
political science professor at Rutgers.

A Rutgers-Eagleton poll released today had Corzine leading
Christie, 39 percent to 36 percent, within an error margin of
4.1 percentage points. Daggett garnered support from 20 percent
in the survey of 583 likely voters, conducted Oct. 15-20.

Campaign Spending

Corzine has spent at least $16.8 million on the race, more
than triple Christie’s $5.4 million, according to campaign
finance data released Oct. 7. Daggett, 59, has spent about $1
million. Christie, who is accepting public matching funds, has
said he expected to be outspent by the governor, who is not
taking taxpayer funds. The Republican is limited under state
public-finance laws to $10.9 million for the campaign.

Corzine spent a total of $100 million on his runs for U.S.
Senate and his first race for governor four years ago.

“You’ve got a lot more Democrats in New Jersey,” said
Maurice Carroll, director of the Quinnipiac polling institute in
Hamden, Connecticut. “Are they all going to be swayed by Obama
and Biden? Probably most aren’t. But some are.”

To contact the reporter on this story:
Terrence Dopp in Trenton, New Jersey, at
tdopp@bloomberg.net .

Prison time sought for Alaska corruption figure

ANCHORAGE, Alaska – Federal prosecutors say the former chief executive of a company that did construction work for oil companies should be sentenced to nearly four years in prison for offering bribes in exchange for legislation favorable to the petroleum industry.
The government's recommendation was filed late Wednesday, a week before Bill Allen, 72, and another VECO executive are scheduled to be sentenced for their 2007 guilty pleas to conspiracy, bribery and tax charges.
Judge John W. Sedwick on Thursday morning denied Allen's request to postpone sentencing until February, saying in his order: "It's time to turn Allen's page in the lamentable chapter of Alaska's history."
"The actions of Bill Allen were corrupt, sustained, and damaging to the integrity of the legislative process," prosecutors said in the filing obtained by the Anchorage Daily News.
In a separate filing, prosecutors recommended a 3 1/2-year prison sentence for Rick Smith, 64, a former vice president of VECO, an Anchorage-based company that performed maintenance, construction and design work for oil companies.
Lawyers for Allen and Smith have asked for much lighter prison sentences, pointing out the pair worked extensively with the FBI and prosecutors, testifying at trials and giving detailed evidence in multiple debriefings about their illegal activities. They also recorded phone calls at the government's request to elicit admissions from politicians.
The sentencing recommendations were accompanied by documents filed by prosecutors and defense attorneys. Some of the paperwork involved U.S. Rep. Don Young, who has been known for more than two years to be under investigation by federal authorities.
Allen and Smith admitted breaking federal campaign finance laws on Young's behalf, using corporate funds to pay the expenses of a yearly fundraiser from 1993 to 2006. The illegal corporate donations were not reported.
The total spent by VECO over the years was between $130,000 and $195,000.
Young has denied wrongdoing. His campaign has spent more than $1 million on his legal expenses.
Allen was the lead witness in the trial of U.S. Sen. Ted Stevens. Allen and Smith testified during the trials of former House speaker Pete Kott, R-Eagle River, and former Rep. Vic Kohring, R-Wasilla.
Charges against Stevens were tossed when the Justice Department admitted it failed to turn over evidence favorable to the defense prior to trial. The same issue has led to the release of Kott and Kohring from prison while a judge decides whether to dismiss charges or order new trials.
Prosecutors said their sentencing recommendations don't take into consideration anything involving Young or Stevens, only the state legislators mentioned in Allen's 2007 charging document.
"The defendant was the pivotal figure in a conspiracy that lasted from 2002 to 2006, which included a series of corrupt acts that were designed to, and did, influence the Alaska legislature," prosecutors said.
___
Information from: Anchorage Daily News, http://www.adn.com

U.S. should engage with North Korea economy: report

WASHINGTON (Reuters) –
Ambitious U.S. economic engagement with North Korea would help end Pyongyang's isolation and moderate its behavior, aiding efforts to rid that country of nuclear arms, a task force report said on Thursday.

The study by leading U.S. experts on North Korea, released as Washington weighs whether to engage in bilateral talks with Pyongyang, argues that sanctions alone will not denuclearize the North and will tend to strengthen hostile forces there.

"Sanctions alone cannot provide protection from the threat posed now or in the future by North Korea," said the report by the Asia Society and the University of California Institute on Global Conflict and Cooperation.

"Instead, economic engagement starts a process that may lead to significant benefits without enhancing the DPRK's military capabilities or making the U.S. or its allies more vulnerable," it said.

A U.S. outreach -- through academic exchanges, development projects, and helping North Korea work with the International Monetary Fund and Asian Development Bank -- could spur better behavior by Pyongyang while helping its impoverished citizens, the task force argues.

With approaches similar to those the Obama administration is attempting with Iran and Myanmar, Pyongyang could be shown incentives that "generate vested interests in continued reform and opening, and in less hostile foreign relations," it said.

The task force acknowledges that North Korea has not shown much interest in economic reform or opening, and that a delicate leadership transition to succeed leader Kim Jong-il means Pyongyang's hardliners appear to be ascendant.

BOLSTER MODERATE FORCES

North Korea held its second nuclear test in May and conducted a series of missile tests, drawing fresh U.N. Security Council sanctions designed to restrict its arms sales and proliferation activities.

But the North also signaled it wanted better relations with Washington, freeing two jailed U.S. journalists in August and signaling that it could return to multilateral region talks but wanted to talk to the United States first.

Washington should be patient and determined and take steps to bolster forces in North Korea that want to engage, while promoting interactions that increase the importance of markets in the North's economy, said the report.

"Military and civilian hardliners in Pyongyang flourish in an international atmosphere of hostility, distrust, and isolation; pragmatists will be unable to advance their agenda without contact with the world outside," it said.

The State Department last week said it had decided to grant a visa to Ri Gun, North Korea's No. 2 official at six-party talks, to attend unofficial meetings in New York and San Diego at which U.S. officials are also expected to appear.

The task force recommended Washington expand official contacts "as widely as possible with North Korea," while also utilizing so-called "track two" unofficial dialogues like the ones Ri will attend later this month.

In addition, academic exchanges with North Korea should be expanded, U.S. aid and development groups should be encouraged to work there, and the United States should end policies aimed at keeping Pyongyang out of the IMF and other international financial institutions, it said.

(Editing by Eric Walsh)

Will new executive pay rules cause a brain drain?

NEW YORK – The Obama administration's decision to cut the pay of top executives at companies on taxpayer life support will help quiet the popular outrage over excessive compensation. But it introduces a new concern: brain drain.
The 175 executives targeted by "pay czar" Kenneth Feinberg are not only the highest-paid but also considered among the most talented and productive. And competitors outside the restrictions are likely to woo them, recruiters and compensation expects say.
Losses like that could be devastating to the very companies the government spent so much money to save.
"These people are considered the brains of the machine. They are who can pull you through the tough times," said Steven Hall, who runs an executive compensation firm that bears his name. "This will give them reason to leave."
Feinberg announced Thursday that he has ordered seven companies that have received billions of dollars in taxpayer money to slash the base salaries of their top executives by an average of 90 percent and cut total compensation — cash, stock and perks — in half.
That applies to the five top executives and the next 20 highest-paid employees at Bank of America Corp., American International Group Inc., Citigroup Inc., General Motors, GMAC, Chrysler and Chrysler Financial.
Another 525 employees at the companies will also face new curbs on pay from Feinberg, but those details have not yet been released.
Those facing pay restrictions outside the executive suite hold leadership positions in areas like finance and investment banking at the banks, and in manufacturing, brand management and design at the auto companies.
They come with years of experience, whether it's making deals or overseeing car design. For example, Ford Motor Co., which is in far better shape than its two Detroit rivals, could lure auto executives who would be difficult for Chrysler and GM to replace.
"There will be a fallout," said Janice Reals Ellig, co-CEO of the executive search firm Chadick-Ellig. "Talent that is short-term-focused because they have big mortgages, college education payments and other things will feel more pressure to leave."
A Bank of America spokesman, Scott Silvestri, said competitors not subject to pay restrictions "already are exploiting this situation by identifying our top performers and using pay concerns to recruit them away for fair market compensation."
Feinberg, in speaking engagements over the last month, acknowledged the difficulty of balancing "conflicting principles" on pay: Compensation needed to be high enough to attract talent without rewarding risk.
But he also has to deal with Americans angry that their tax dollars have been used to save these companies. The Obama administration has blamed misplaced compensation incentives as one cause of the financial crisis.
Feinberg will limit cash salaries to $500,000. Executives who had been guaranteed certain compensation will have those payments made in company stock to be held over the long term.
Most other pay will also have to come in long-term stock awards, and executives won't be able to sell that stock until the company repays its bailout money. Incentive stock awards can only be paid if executives stick around for three years and the company pays back the government.
Feinberg also gets to sign off on any performance goals used as incentives.
The pay restrictions for all seven companies will also require any executive seeking more than $25,000 in special benefits — things such as country club memberships, private planes and company cars — to get permission for those perks from the government.
Feinberg did say exceptions were made "where necessary to retain talent and protect taxpayer interests." Base salaries above $1 million were approved for the new CEO of AIG, and for two employees of Chrysler Financial.

Under a package approved by Feinberg over the summer, AIG CEO Robert Benmosche will get a pay package of about $10.5 million.

Competitors of all seven companies that have repaid bailout money are free to pay whatever they want — although the Federal Reserve did propose Thursday to monitor executive pay at thousands of banks.

Goldman Sachs, which paid back its $10 billion in government bailout funds in June, has set aside $16.7 billion for compensation and benefits so far this year, on track for a record.

"People who produce the top revenues will always be in demand. They will always be wanted," said recruiter Danny Sarch, president of Leitner Sarch Consultants in White Plains, N.Y. "That's just capitalism."

News group asks court to stop NJ exit poll ban

TRENTON, N.J. – Six major media outlets who use Election Day polling to gauge the mood and attitudes of the nation on Friday asked a federal judge to stop enforcement of a state court ruling that bans exit polling near voting sites.
The lawsuit was filed in U.S. District Court by the National Election Pool, a consortium that includes The Associated Press, CNN, Fox, ABC, NBC and CBS.
A Sept. 30 state Supreme Court decision bars exit polling and all "expressive activity" within 100 feet of polling places.
New Jersey is the only state to keep exit pollsters and journalists from approaching voters within 100 feet of a polling place. The request for a preliminary injunction comes less than three weeks before the state's Nov. 3 gubernatorial election.
The news group argues that exit polling is constitutionally protected. Federal courts have struck down similar attempts in other states.
"We think exit polling is very different from the kinds of activity that anti-electioneering laws like New Jersey's are aimed at, and every court that has given its full attention to that question has agreed with us," said Dave Tomlin, associate general counsel for the AP.
Polling experts say the ban means error rates for exit polls will be much higher.
Both the quality and quantity of the information decreases significantly because interviewers are supposed to approach voters in a preset pattern, such as every fourth voter. As the distance from polling places increases, experts say, so does the likelihood that voters get into their car without being approached or blend into a crowd that includes people who didn't vote.
"The public interest will be better served by the prevention of any such chilling effect, which would deprive citizens, political leaders, journalists, and scholars of some or all of the uniquely accurate and detailed information that is provided by exit polling," lawyers for the National Election Pool said in court papers.
In establishing the buffer zone, the New Jersey court said it is a reasonable restriction of free speech because all activity is banned within the 100-foot perimeter. The court noted that political speech is protected by the First Amendment but can be barred near a polling station to protect the right to vote.
"The last 100 feet leading to a polling place belong to the voters on Election Day," the court wrote.
In the case that led to this state court ruling, the American Civil Liberties Union of New Jersey petitioned the attorney general for permission to hand out wallet-size voter-rights card. The state denied the request, saying such an exemption would allow political groups inside the perimeter.
The ACLU appealed and the state Supreme Court denied its request. The court took the extra step of barring all form of "expressive activity," including exit polling.

U.S. charges 6 with hedge fund insider trading

NEW YORK (Reuters) –
Galleon hedge fund partner Raj Rajaratnam and five others were charged with crimes including securities fraud and conspiracy involving insider trading that generated more than $20 million in profits, U.S. prosecutors and the FBI said on Friday.

The insider trading at Galleon Technology Funds, New Castle fund and Intel Capital took place in the stocks of Polycom Inc, Hilton Hotels Corp, Google Inc, International Business Machines Corp, Advanced Micro Devices Inc, Sun Microsystems Inc and others, according to two complaints filed in U.S. District Court in New York.

All six accused have been arrested, a spokeswoman for the U.S. Attorney's office in Manhattan said. A statement from the office described the charges and arrests as a "takedown of a $20 million hedge fund insider trading case."

One of the criminal complaints accuses Rajaratnam of conspiring with Intel Capital employee Rajiv Goel and Anil Kumar, a director of McKinsey & Co global management consulting firm. The alleged offenses took place for about three years from January 2006.

Galleon had as much as $7 billion under management, the complaint said. Intel Capital is the investment arm of Intel Corp.

A statement by an FBI agent cited in the complaint said: "On or about January 9, 2006 an individual who subsequently became a cooperating witness sent the following instant message to Raj Rajaratnam 'donot (sic) buy plcm till i het (sic) guidance; want to make sure guidance OK."

On or about January 12 Rajaratnam purchased 60,000 shares of Polycom for Galleon Technology Funds, a complaint said. It said in July 2007 he bought 400,000 shares of Hilton Hotels Corp for Galleon and about 1,000 put options in Google and arranged to short about 25,000 shares of Google stock.

Rajaratnam and Goel conspired from at least March 2008 to October 2008, the complaint said. Rajaratnam purchased 125,800 shares of Clearwire Corp on March 24, 2008.

A co-conspirator made a phone call to Rajaratnam on July 24, 2008 and the next day Rajaratnam sold short about 138,550 shares of Akamai Technologies Inc stock, a complaint alleged. Also as part of the purported scheme, Rajaratnam and Kumar conspired to buy 2.1 million shares of Advanced Micro Devices.

"The cooperating witness obtained inside information regarding Polycom, Hilton and Google from various sources who disclosed the inside information in violation of duties of trust and confidence," the FBI agent's statement in the complaint said.

"The cooperating witness communicated this inside information to Rajaratnam, who caused the Galleon Technology Funds to execute securities transactions, earning a total profit of more than $12.7 million from the scheme.

"In exchange Rajaratnam provided the cooperating witness with inside information regarding other technology companies."

Typically, securities fraud charges carry possible maximum prison sentences of up to 20 years.

A second complaint accused three other people -- Danielle Chiesi, Mark Kurland and Robert Moffat -- of securities fraud and conspiracy to commit insider trading, earning millions of dollars in profits.

Chiesi worked for New Castle, which was the equity hedge fund group of Bear Stearns Asset Management. Bear Stearns Cos folded in 2008. Kurland was a senior managing director of BSAM and Moffat was employed by IBM.

It was not immediately known who were the lawyers for the accused.

Representatives for the hedge funds were not immediately available. An Intel Corp spokesman declined to comment.

U.S. Attorney for Manhattan Preet Bharara; Joseph Demarest, assistant director-in-charge of the FBI in New York; and Robert Khuzami, director of enforcement, U.S. Securities and Exchange Commission, were expected to give more details later on Friday at a news conference.

(Reporting by Grant McCool and Joe Giannone, editing by Gerald E. McCormick, Phil Berlowitz)

Men found guilty of Australian terror plot

SYDNEY – Five men were convicted Friday of plotting a terrorist attack by stockpiling bomb-making instructions and purchasing explosive chemicals in Australia's largest terrorist conspiracy.
A jury deliberated for a month before finding the men guilty of conspiring to commit acts in preparation for a terrorist attack. Each face a maximum sentence of life in prison.
During the trial, which began in November 2008, prosecutor Richard Maidment told the jury in New South Wales state Supreme Court that the men planned to use explosive devices or firearms to commit "extreme violence" in a bid to force Australia's government to change its policy on Middle East conflicts.
Justice Anthony Whealy restricted the media from publishing the men's names on the Internet.
The men, aged between 25 and 44, were arrested in a series of raids on their homes in 2005. Maidment said during the trial that the raids turned up bomb-making instructions and militant Islamist material — including footage of planes flying into the World Trade Center on Sept. 11, 2001, and images of beheadings. The prosecutor also said the men purchased explosive chemicals and guns between July 2004 and November 2005.
The jury, which viewed more than 3,000 exhibits and heard from more than 300 witnesses, was also told one man participated in a terrorist-run paramilitary training camp in Pakistan, and three others attended similar camps in New South Wales to prepare for an attack.
Lawyers for the men argued there were innocent explanations for the material. Outside court, supporters of some of the men shouted angrily after the verdict.
Whealy had instructed the jury to put aside any prejudices when coming to its verdict, and to remember the Muslim faith was not on trial.
The sentencing hearing was scheduled to begin Dec. 14.

Health care bill: The movie? (Politico)

In a world where health care reform is under siege and fear and confusion reign, President Barack Obama has only one way out — to release a different movie. 
Opponents of the current reform effort have been hawking a nail-biter of a horror flick: Faceless government bureaucrats take over the health care system, destroy innovation, eliminate choice and empower government “death panels” to decide whether Grandma will live or die. 
The Democrats, on the other hand, have three different versions of a 1,018-page bill in the House, seemingly endless negotiations in the Senate and a feud over something called the “public option.” 
“Marley & Me,” this is not. 
“We’re talking a lot about what’s our shooting schedule, who’s our key grip going to be, who’s going to do special effects, and we’re not telling the story enough,” says Eli Attie, former chief speechwriter for Vice President Al Gore and a writer and producer for “The West Wing” and “House, M.D.” 
Strategists say that if the president hopes to turn the tide in favor of reform, he will need do more than offer policy prescriptions when he addresses Congress on Wednesday; he will have to generate a tight, vivid, emotionally compelling narrative to help people understand why they should get behind the plan. 
But should he pen his own scary movie? A family drama? A feel-good film? 
POLITICO asked those who straddle the worlds of politics and entertainment to offer their thoughts on how health reform advocates should pitch a wary public. 
David Mixner, a longtime Democratic activist and a writer with two screenplays to his credit, recommends a straightforward drama: “A hardworking American family who has a young sick child, who has done everything right, suddenly sees their life upended, because of a lack of health insurance, or technicalities in their health insurance,” he says. 
“To me, [the message is] real simple: We can no longer have Americans lose everything they’ve ever worked for because they’re sick. And this stops it," he says. "And I don’t know why we’ve strayed from that in some kind of zoopgobbledygook that no one understands.”
Attie agrees and expresses similar frustration with the Democrats’ failure to assert their own message. 
“That we’ve become the pro-death party when they want to leave 45 million people uninsured is insane,” he says. “Their movie is the one where everyone dies in the end. Theirs is the slasher film, and ours is the heartwarming family drama.” 
So what would a screenplay that made that argument look like? “It’s a story of an average American family facing all kinds of medical bills they can’t pay, health problems they can’t treat, medications they can’t buy and a knight in shining armor named Barack Obama comes along, and they all live happily ever after,” Attie says. “You think it’s going to be a tragedy, and it isn’t.” 
Others argue that the opposition’s message has an edge-of-the seat urgency that requires more of a blockbuster response.
“There’s passion on the other side, and I don’t hear passion on the side of reform, and that’s maddening to me,” says Trey Ellis, a screenwriter and novelist whose credits include the HBO film “The Tuskegee Airmen,” and who blogs about politics for the Huffington Post.
He suggests a thriller — “along the lines of ‘Michael Clayton,’ ‘The Insider’ and ‘Traffic’” — that would reveal the human drama behind the status quo.
“The pre-credit sequence would show a young woman driving home from a party. She's the only sober one of her friends. Wham! A cab slams into them, totaling her little BMW and severely injuring only her. The ambulance comes and is racing her to the nearest hospital, which is private, when the paramedics are told, by her shaken friends, that she's uninsured. The paramedics are ordered to take her to the public hospital, 10 miles away ...
Fat-cat health insurance oligarchs meet at Hilton Head, blithely bragging about their profits and the joys of ‘rescission.’ ... One of the oligarchs gets an urgent call. It's his wife. Their estranged daughter has just been in an accident. She lost a leg because of the transfer to the more distant hospital.” 

The insurance companies aren’t the only potential villain in a Democrat-directed drama about the need for health reform, says Democratic strategist Chris Lehane, who consulted on the publicity effort for Michael Moore’s health care documentary, “Sicko.”

“Historically, successful presidents create a dialectic with their über-message, where they are positioned as fighting for the American people and against a threat to America,” he says.

His film would be a Cold War-style chiller, with “jobs being swallowed up by foreign countries” and Obama and the Democrats in a race against time to save the nation from the “greedy insurance and drug industries,” which are sucking the nation dry financially. Their mission? To preserve “the core of what it means to be American," he says, "in an age where the rise of global challengers such as China imperils the American Dream.”

From Lehane’s geopolitical crane shot, Democratic strategist Shawn Lawrence Otto, who wrote and produced the film “House of Sand and Fog,” pans in on a small American town, suggesting that the Democrats look for inspiration in the Christmas favorite “It’s a Wonderful Life.”

“I guess the log line is: Democrats are the party of Bedford Falls. It’s your choice: Bedford Falls or Potterville,” he says.

Variety managing editor Ted Johnson, who writes the Wilshire & Washington blog about the intersection of entertainment and politics, also invokes the Frank Capra classic.

“It seems like one of their troubles is that the Republicans have been so effective in capitalizing on the mistrust of government,” he says of the Democrats. “Whereas ‘It’s A Wonderful Life’ doesn’t really deal with the government — it’s about this idea that we’re all in this together.”

Republican media consultant Stuart Stevens, who has written for TV series including “Commander in Chief” and “K Street,” says he thinks that thus far the Democrats’ message has been “oddly torqued”: “It’s a weird mix of change and status quo that hasn’t tied up: ‘If you like what you have, you don’t have to change’ — a status quo message — ‘but we’re going to bring significant change if you want it.’ It’s sort of like you’re at the Oxford Union, and Obama’s debating Obama,” he says.

He, too, mentions “It’s a Wonderful Life” — “You have to show people what the future’s going to look like. And if we don’t change, what’s it going to be like?” — but predicts that Democrats will offer up their own horror movie instead.

“Our health care system is collapsing. We’re going to be unable to sustain what we have. You have to fight to protect what you have. The demographic monster is coming to get us, and we have to fight that. It’s sort of a ‘while America slept’ argument,” he says. “I suspect that’s where they’re headed, because when emotions get that high, fear works more easily.”

Fear may indeed sell, but Attie notes that “downer moves are tanking at the box office” right now. He argues that what people want to hear most is an uplifting story about the future. “Yes, some horror movies are doing well,” he says, “but not as well as ‘Star Trek’ or ‘Transformers,’ movies about truth, justice and the American way — with robots.”

Read More Stories from POLITICOBeck up, left let down and Jones defiantLabor Day activitiesNJ governor's race gets down and dirtyOpen mic weekendVan Jones and the W.H. casualty list

Obama To Address Joint Session of Congress (CQPolitics.com)

Seeking to hit the reset button on the acrimonious health care debate, President Obama will address a joint session of Congress on Sept. 9 and renew his call to pass legislation retooling the health insurance market this year.

Obama is likely to more thoroughly detail his expectations for an overhaul, including what he deems an acceptable fallback to a public insurance plan that would compete against private insurers.

The White House has concluded it doesn't have the votes in the Senate to pass a plan that includes a public insurance option. The administration is considering other options, including a non-profit "co-ops" that would be governed by private boards.

House Speaker Nancy Pelosi, D-Calif., invited the president to make the speech next Wednesday evening, as is required under protocol, a congressional aide said. Logistics for the speech are still being worked out.

Pelosi and Senate Majority Leader Harry Reid, D-Nev., also will meet with Obama at the White House on Sept. 8 -- the day Congress returns from its five-week summer recess -- to discuss the fall legislative agenda with Obama, the aide said. Health care is expected to top the list of subjects to be discussed.

Obama's address follows a caucus of House Democrats on Sept. 9 to thrash out how they want to proceed on bringing a health care bill (HR 3200) to the floor in September.

That caucus also will give the lawmakers a chance to compare notes about the meetings they held in their districts durin the recess -- meetings in which many of them encountered fierce opposition from critics of Democratic health care plans.

While Democrats in the House generally say they are still committed to the idea of a health care overhaul, it remains to be seen if support for the public option remains sufficient to include it in the final House version of an overhaul plan.

The House version will be created by merging bills already the Energy and Commerce, Ways and Means and Education and Labor committees have already approved.

Lawmakers said Obama needs to take a more hands-on role guiding the health care debate. Sen. Tom Harkin, D-Iowa, told an editorial-board meeting of the Des Moines Register today that the president has to make his case to the American people, because of the fierce opposition that surfaced at town hall meetings during the August recess.

"President Obama has to step up and sort of tell the American people, 'Here's what we need to do. Here's what we should do. Here's what the health plan should encompass, and here's what I think we should fight for,'" said Harkin, who serves on the Health, Education, Labor and Pensions Committee. "I think the longer we delay this, the more misinformation gets out among people. I think we have to wrap this up, hopefully by Christmas time."

The White House has been increasingly critical of Republicans that administration officials contend are not bargaining in good faith over contours of a health plan.

White House press secretary Robert Gibbs on Tuesday lashed out at two Republican lawmakers involved in the talks -- Michael B. Enzi of Wyoming and Charles E. Grassley of Iowa -- for criticizing Democratic plans during appearances in their home states.

However, Obama is likely to use the address to enumerate issues on which Democrats and many Republicans agree, including proposed regulations barring health insurers from basing coverage decisions on individuals' health conditions. House Republican Leader John A. Boehner of Ohio, who has called on Obama to scrap his health care ideas and start over, said he hoped the president uses his speech to do just that.

"Obviously, we want to hear what the president has to say, but the American people don't want a new speech, they want a new plan. We need to scrap the Democrats' government takeover of health care and start over on a real, bipartisan plan for reform," said Boehner spokesman Michael Steel.

The address will mark the second time Obama will speak to a joint session of Congress this year. The first on Feb. 24, came in lieu of a State of the Union address, and primarily focused on the financial crisis.

Edward Epstein and Bart Jansen contributed to this story.

Andy Lau apologizes for lying about marriage (AP)

HONG KONG – Veteran Hong Kong actor-singer Andy Lau has apologized for lying about his marriage, saying he behaved inappropriately for a public figure.
Lau denied that he was married in an interview with Hong Kong's Cable TV in February, but Hong Kong journalists last week discovered marriage records from the Clark County Recorder's Office in the U.S. state of Nevada that showed the 47-year-old star had wed Malaysian girlfriend Carol Chu in June 2008. Lau confirmed the nuptials in a brief message on his Web site late Saturday, saying he did not announce the marriage because he wanted to shield Chu from the press.
Speaking publicly about the issue for the first time Tuesday afternoon, Lau said he was sorry he deceived the press and the public.
"My recent behavior amounts to a lie. It disappointed many people. Because I'm a public figure, I think I should publicly apologize to everyone who believed me. I hope everyone will forgive me," Lau told reporters at Hong Kong's international airport after returning from Beijing, where he was filming a music video.
Critics say Lau lied about his marriage to protect his image as an idol. One of Asia's biggest celebrities, the star of "Infernal Affairs" and "House of Flying Daggers" has appeared in more than 100 movies since his debut in 1982. Dubbed one of Chinese pop's "Four Heavenly Kings" in the 1990s, he also enjoys a successful recording career.
Lau denied Tuesday that he and his wife have any children.
He said on his Web site Saturday he and Chu had married so they could try to have children through artificial insemination, which is only authorized for married couples in Hong Kong.
"I don't have any children. I don't have any sons or daughters. The children you have photographed are the children of my relatives or friends," he said.

2016 Olympics bidders await IOC evaluation report (AP)

LONDON – The four cities bidding for the 2016 Olympics are set to find out how they shape up — on paper at least.
The International Olympic Committee will release its evaluation report Wednesday assessing the bids from Chicago, Madrid, Rio de Janeiro and Tokyo.
The report — issued exactly a month before the secret vote in Copenhagen on Oct. 2 — won't grade or rank the candidates, focusing instead on technical criteria such as venues, budgets, transportation plans, accommodation, security and government and public support.
The report, based on visits by the evaluation commission earlier this year, is not expected to offer any dramatic findings or provide any clear-cut winner or losers. However, it should list some potential criticisms or concerns.
Among the issues under scrutiny could be Chicago's financial guarantees. Unlike other bid cities, Chicago's candidacy is not underwritten by the federal government. Chicago Mayor Richard M. Daley has pledged to sign the host contract, requiring the city to take full financial responsibility for the games and the proposed $4.8 billion operating budget.
With IOC members still barred from visiting bid cities in the wake of the Salt Lake City scandal, the report is intended to offer guidance to the 100-plus delegates when they cast their ballots next month.
"It could be very important," said Gerhard Heiberg, an IOC executive board member from Norway. "At this stage there is no front-runner and no one lagging behind. All are on an equal basis. The report will be studied by IOC members perhaps more than before."
Especially decisive could be the appearance of government leaders backing the bids in Copenhagen.
Brazilian President Luiz Inacio Lula da Silva and Spanish King Juan Carlos have announced they will attend. Tokyo has invited Crown Prince Naruhito. However, the biggest question is whether President Barack Obama will lobby for Chicago.
The first IOC evaluation report made public was in 1993 during the bid process for the 2000 Olympics, which were awarded to Sydney. Some members have been critical of the reports for merely listing statistics and not making clear which bids are better than others.
"Unless you were a cryptographer of some sort, in the past it's been impossible to find out what the opinion of the commission was as to the suitability of each candidate," senior Canadian member Dick Pound said.
The four candidates, meanwhile, are hoping to make a good impression in the report.
Chicago, seeking to bring the Summer Olympics back to the United States for the first time since the 1996 Atlanta Games, has been promoting its plan for holding compact games on the downtown lakefront.
"As the least well known of the four cities hopefully the full membership will have a better understanding of the type of games Chicago would offer after this report comes out," bid leader Patrick Ryan said.
Tokyo, which held the Olympics in 1964, will have a new prime minister behind the bid after Taro Aso's Liberal Democrats were voted out of office by the Democratic Party over the weekend. The likely next prime minister, Yukio Hatoyama, has voiced support for the bid.
"We offer the safest, securest, most risk-free and most dependable bid," Tokyo bid leader Dr. Ichiro Kono said. "This is especially critical considering today's uncertain environment."
Madrid, which is bidding for the second straight time after losing to London in the race for the 2012 Games, believes it is well placed.
"We have worked extremely hard on every aspect of our bid and all the hard work have put us in a strong position for the final run to the finishing line," bid leader Mercedes Coghen said.

Rio de Janeiro has made a strong case to take the Olympics to South America for the first time.

"We await this report with a little bit of anxiety but confident as well," bid chief executive Carlos Roberto Osorio said. "We think we have a very strong technical project."

UN expert: Australia breached Aborigines' rights (AP)

CANBERRA, Australia – Australia breached international obligations on human and indigenous rights by imposing radical restrictions on Aborigines during a crackdown on child abuse in Outback communities, a United Nations expert said Thursday.
The U.N. special rapporteur on indigenous human rights, James Anaya, said his 12-day fact-finding tour of Australia revealed that the Aboriginal minority still suffers from "entrenched racism."
Anaya's comments came as Australia launched its latest bid to address inequality, ill-health and poverty among the country's 500,000 indigenous people that have dogged the country since white settlers arrived more than 200 years ago.
The government said Thursday it would set up a new national representative body this year to advise it on policies relating to Aborigines.
Aborigines make up about 2 percent of the country's 22 million-strong population. In recent decades, billions of dollars have been thrown into community programs, housing and education. Yet Aborigines remain the poorest, unhealthiest and most disadvantaged minority, with an average life span 17 years shorter than other Australians.
Anaya, a University of Arizona human rights law professor, said he was particularly concerned by restrictions imposed on Aborigines in the Northern Territory in response to a 2006 government-commissioned report that found child sex abuse was rampant in remote indigenous communities.
The government suspended its own anti-discrimination law so it could ban alcohol and hard-core pornography in Aboriginal communities and restrict how Aborigines spend their welfare checks. The restrictions do not apply to Australians of other races.
"These measures overtly discriminate against aboriginal peoples, infringe their right of self-determination and stigmatize already stigmatized communities," Anaya told reporters in the national capital of Canberra.
The measures were too broad and had been imposed for too long, despite a lack of evidence that the ban on alcohol had reduced alcohol abuse, he said.
Anaya described as "demeaning" the policy of forcing Aborigines to set aside a portion of their welfare checks for essentials such as food and rent. "They have to carry a card around that marks them as someone who can't manage their own funds," he said.
The restrictions were "incompatible" with Australia's obligations under the Convention on the Elimination of All Forms of Racial Discrimination, the International Covenant on Civil and Political Rights, as well as the Declaration on the Rights of Indigenous Peoples, he said.
Anaya — who has made similar tours in Brazil, Nepal and Botswana before visiting Australia at the invitation of the government and indigenous groups — welcomed the announcement of plans for an indigenous representative body.
The new body will be independent of the government and serve as a less powerful version of a national Aboriginal organization that between 1990 and 2005 administered billions of dollars in funds for indigenous programs and whose leaders were elected by Aboriginal constituents.
The previous conservative government abolished that organization — the Aboriginal and Torres Strait Islander Commission — in 2005 amid corruption and mismanagement allegations, and folded its operations into other departments.
"Today is a day when, as Aboriginal and Torres Strait Islander peoples, we begin a new journey and express our determination to put our future in our hands," said Aboriginal and Torres Strait Islander Social Justice Commissioner Tom Calma.
Indigenous Affairs Minister Jenny Macklin said the government wants to establish the new body before the end of 2009.
The government is committed to "the most basic of human rights: the right of vulnerable people — in particular women and children — to live free of violence, abuse and neglect," she said in a later statement.
___

Associated Press writer Kristen Gelineau contributed to this report from Sydney.

Patrick mum on people interested in Kennedy seat (AP)

WASHINGTON – Massachusetts Gov. Deval Patrick says the focus should be on mourning Sen. Edward Kennedy and that questions surrounding his Senate vacancy can wait.
Interviewed Thursday on ABC's "Good Morning America," he acknowledged "a lot of interest" in Kennedy's seat. Patrick declined to discuss names and didn't directly answer as to whether he thought former Rep. Joseph Kennedy might be a candidate.
Under existing law, a special election has to happen within 160 days of a vacancy and the governor has no authority to name an interim senator. There has been talk of changing the law and Patrick supports that. With respect to people interested in the vacancy, he called that "very personal decisions." Patrick said, "We've got so much political talent in Massachusetts ... in that family and beyond."

Want the world's best wages? Move to Switzerland (Reuters)

SINGAPORE (Reuters Life!) –
It pays to work in Switzerland: employees in Zurich and Geneva have the highest net wages in the world, a study by banking group UBS shows, while those in India's Mumbai take home the lowest.

The Swiss cities were also ranked among the top five most expensive in the world in the bank's 2009 "Price and Earnings" international study.

"With its extremely high gross wages and comparatively low tax rates, Switzerland is a very employee-friendly country," the Swiss bank said in a statement.

"No other cities allows workers to take home more income at the end of the month than Zurich and Geneva."

The study, published every three years, compares the income and purchasing power of employees in 73 cities across the globe, highlighting wide discrepancies in wages between different regions, and even within the same country.

The biggest gaps were found in Asia, the study said, with Tokyo ranking as one of the world's five costliest cities while the capitals of developing countries such as Malaysia, the Philippines and India were all at the bottom of the price range.

Oslo was this year's most expensive city, based on a standardized basket of 122 goods and services, followed by Zurich, Copenhagen, Geneva, Tokyo and New York.

When rents are factored in, however, New York rises to the top spot, the study said.

This year, the bank said currency fluctuations caused by the global economic crisis affected the rankings of several cities, most notably London, which was the second most expensive city in 2006, but which fell nearly 20 places following the pound's drop earlier this year.

The analysis involved more than 30,000 data points, collected by several independent observers in each city, in March and April, the bank said. All amounts were converted into a single currency before being compared.

The world's cheapest places to live were Malaysia's Kuala Lumpur, Manila in the Philippines, and India's Delhi and Mumbai. But the average employee in many of these cities, as well as Jakarta and Nairobi, gets paid some of the world's lowest salaries which have between 11 percent and 15 percent of the purchasing power of a salary in Zurich.

"An average wage-earner in Zurich and New York can buy an iPod nano from an Apple store after nine hours of work. At the other end of the spectrum, workers in Mumbai need to work 20 nine-hour days, roughly the equivalent of one month's salary," the study said.

Working hours also varied in the cities surveyed, with the study finding that on average, people in Asian and Middle Eastern cities work much more than the global average of 1,902 hours per year. Overall, the most hours are worked in Cairo, followed by Seoul, while the least hours worked were in Lyon and Paris.

For the full UBS "Prices and Earnings" study click on www.ubs.com/research

(Editing by Sanjeev Miglani)

Cash for Clunkers under budget with 690,000 sales (AP)

WASHINGTON – The popular Cash for Clunkers program generated nearly 700,000 new car sales during the past month, giving the U.S. auto industry a badly needed jolt of activity during the deepest decline in auto sales in two decades.
The government, releasing final data on the car incentives, said Wednesday that dealers submitted 690,114 sales totaling $2.88 billion, bringing the program to a close under its $3 billion budget. Japanese auto manufacturers led American companies in new car sales through the program, which ended late Monday.
Many dealers are still waiting to be repaid for the Cash for Clunkers incentives they gave car buyers and were allowed to submit paperwork seeking reimbursement until late Tuesday.
Despite the summertime frenzy at dealerships, analysts said the growth in auto sales may be short-lived. Sales in July rose to 11.2 million when converted to an annual rate, the first month in 2009 in which sales had risen above the 10 million level. A drop in consumer confidence late last year sent sales plunging to depths not seen since the early 1980s, prompting lawmakers to create the program.
Jeremy Anwyl, CEO of the auto Web site Edmunds.com, said dealers and automakers clearly gained from the big boost in sales. But while the incentives helped consumers, average prices for vehicles went up as buyers less concerned about prices rushed to take advantage of the rebates.
Inventory shortages from the popular program could keep prices high and drive down new vehicle sales. "We have created a sales bubble and now that bubble has burst," Anwyl said.
The Obama administration declared the program a major success, saying Cash for Clunkers provided a needed stimulus to the auto industry and the broader economy.
"Manufacturing plants have added shifts and recalled workers. Moribund showrooms were brought back to life and consumers bought fuel-efficient cars that will save them money and improve the environment," said Transportation Secretary Ray LaHood.
The White House Council of Economic Advisers said the program will boost economic growth in the third quarter by 0.3 to 0.4 percentage points because of the increased auto sales in July and August. An estimated 42,000 jobs will be created or saved during the second half of the year, the White House said.
The biggest industry beneficiaries were Japanese automakers Toyota, Honda and Nissan, which accounted for 41 percent of the new vehicle sales. That outpaced Detroit automakers General Motors, Ford and Chrysler, which had a share of nearly 39 percent. Toyota Motor Corp. led the industry with 19.4 percent of new sales, followed by General Motors Co. with 17.6 percent and Ford Motor Co. with 14.4 percent.
The Toyota Corolla was the most popular new vehicle purchased under the program. The Honda Civic, Toyota Camry and Ford Focus held the next three top spots. All four are built in the United States.
The program, which began in late July, offered consumers rebates of $3,500 or $4,500 off the price of a new vehicle in return for trading in their older, less fuel-efficient vehicles to be scrapped. The trade-in vehicles needed to get 18 miles per gallon or less.
It proved far more popular than lawmakers originally thought. Congress added another $2 billion to the original $1 billion budget when the first pot of money nearly ran out in a week. The extra money was supposed to last through Labor Day, but the funding only lasted about a month.
Dealers loved the new sales, but they reported major hassles trying to get the government to repay them for the rebates. Many dealers are still waiting to get paid.
Peter Kitzmiller, president of the Maryland Automobile Dealers Association, said most dealers appeared to get their paperwork in by the Tuesday night deadline and he was hopeful the pace of repayments would pick up.
The Transportation Department said Wednesday that 2,000 people are processing dealer applications. The program was expected to cost $50 million to administer, but Transportation officials said the administrative costs would exceed that amount. They expressed confidence the extra costs would not push the program's total expenditures beyond $3 billion.
Some consumers may be regretting their clunkers purchases, especially since many buyers traded in paid-off vehicles in return for new cars financed through loans. A survey of 1,000 Cash for Clunkers participants, conducted by CNW Research, an automotive research firm in Oregon, found that 17 percent had doubts about their vehicle purchase after taking on monthly car payments of $275 to $350 per month.
The government said 84 percent of the trade-ins were trucks and 59 percent of the new vehicles were passenger cars. New vehicles bought through Cash for Clunkers had an average fuel-efficiency of 24.9 miles per gallon, compared with an average of 15.8 mpg for trade-ins, a 58 percent improvement.

American companies accounted for all the top-10 traded-in vehicles. The Ford Explorer four-wheel-drive was the most popular, followed by the Ford F-150 Pickup two-wheel-drive, the Jeep Grand Cherokee four-wheel-drive and Ford Explorer two-wheel-drive.

___

On the Net:

Cash for Clunkers: http://www.cars.gov/

Syndicate content