Facebook slumps as mobile ad growth fails to impress






(Reuters) – Shares of Facebook Inc were set to open 7 percent lower on Thursday as a surge in fourth-quarter mobile advertising revenue failed to live up to Wall Street’s high expectations.


Three brokerages downgraded the stock of the No. 1 social network, which has struggled to develop a full-fledged mobile advertising business.






Facebook has long established itself as one of the most important websites, but investors have worried that until the company’s mobile advertising strategy takes off, revenue growth will remain shaky.


The company reported a better-than-expected fourth-quarter profit on Wednesday and said its mobile advertising revenue doubled to $ 306 million, suggesting it was making inroads into handheld devices such as smartphones and tablets.


Investors were looking for at least $ 350 million in mobile advertising revenue, Piper Jaffray analyst Gene Munster said in a note to clients.


“While the trajectory of mobile growth may not be as steep as some investors were hoping, the theme of mobile as the future of Facebook remains intact,” he said.


BMO Capital Markets analyst Daniel Salmon, who downgraded the stock to “market perform” from “outperform”, however said Facebook’s 2013 stock performance would not be dictated by its ability to generate mobile ad dollars.


He said new catalysts were necessary to drive Facebook’s stock price up.


Facebook’s stock, which has lost over a quarter of its value since its botched debut in May, were down at $ 29.08 in premarket trading. The shares closed at $ 31.24 on the Nasdaq on Wednesday.


(Reporting by Neha Alawadhi in Bangalore; Editing by Saumyadeb Chakrabarty)


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Justin Timberlake launches music comeback with Grammy performance






LOS ANGELES (Reuters) – Justin Timberlake, making his pop music comeback with a new single and album, will perform at next month’s Grammy Awards for the first time in four years, Grammy organizers said on Wednesday.


Timberlake, 31, will take the stage at the music industry‘s biggest night in Los Angeles on February 10, ahead of the scheduled March release of his first album since 2006.






“The 20/20 Experience” marks Timberlake’s return to music after several years in which he has focused more on acting and business ventures, including a clothing line and a partnership in social networking site Myspace.


At the Grammy Awards ceremony and show, Timberlake will join performers and country music nominees Miranda Lambert and Dierks Bentley, singers Taylor Swift and Carrie Underwood, and bands Mumford & Sons and FUN.


Elton John will also duet with rising British singer Ed Sheeran, and the Grammy ceremony will be hosted by rapper LL Cool J. Other performers will be announced in the next 10 days.


(Reporting by Jill Serjeant; Editing by Will Dunham)


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Well: Waiting for Alzheimer's to Begin

My gray matter might be waning. Then again, it might not be. But I swear that I can feel memories — as I’m making them — slide off a neuron and into a tangle of plaque. I steel myself for those moments to come when I won’t remember what just went into my head.

I’m not losing track of my car keys, which is pretty standard in aging minds. Nor have I ever forgotten to turn off the oven after use, common in menopausal women. I can always find my car in the parking lot, although lots of “normal” folk can’t.

Rather, I suddenly can’t remember the name of someone with whom I’ve worked for years. I cover by saying “sir” or “madam” like the Southerner I am, even though I live in Vermont and grown people here don’t use such terms. Better to think I’m quirky than losing my faculties. Sometimes I’ll send myself an e-mail to-do reminder and then, seconds later, find myself thrilled to see a new entry pop into my inbox. Oops, it’s from me. Worse yet, a massage therapist kicked me out of her practice for missing three appointments. I didn’t recall making any of them. There must another Nancy.

Am I losing track of me?

Equally worrisome are the memories increasingly coming to the fore. Magically, these random recollections manage to circumnavigate my imagined build-up of beta-amyloid en route to delivering vivid images of my father’s first steps down his path of forgetting. He was the same age I am now, which is 46.

“How old are you?” I recall him asking me back then. Some years later, he began calling me every Dec. 28 to say, “Happy birthday,” instead of on the correct date, Dec. 27. The 28th had been his grandmother’s birthday.

The chasms were small at first. Explainable. Dismissible. When he crossed the street without looking both ways, we chalked it up to his well-cultivated, absent-minded professor persona. But the chasms grew into sinkholes, and eventually quicksand. When we took him to get new pants one day, he kept trying on the same ones he wore to the store.

“I like these slacks,” he’d say, over and over again, as he repeatedly pulled his pair up and down.

My dad died of Alzheimer’s last April at age 73 — the same age at which his father succumbed to the same disease. My dad ended up choosing neurology as his profession after witnessing the very beginning of his own dad’s forgetting.

Decades later, grandfather’s atrophied brain found its way into a jar on my father’s office desk. Was it meant to be an ever-present reminder of Alzheimer’s effect? Or was it a crystal ball sent to warn of genetic fate? My father the doctor never said, nor did he ever mention, that it was his father’s gray matter floating in that pool of formaldehyde.

Using the jarred brain as a teaching tool, my dad showed my 8-year-old self the difference between frontal and temporal lobes. He also pointed out how brains with Alzheimer’s disease become smaller, and how wide grooves develop in the cerebral cortex. But only after his death — and my mother’s confession about whose brain occupied that jar — did I figure out that my father was quite literally demonstrating how this disease runs through our heads.

Has my forgetting begun?

I called my dad’s neurologist. To find out if I was in the earliest stages of Alzheimer’s, he would have to look for proteins in my blood or spinal fluid and employ expensive neuroimaging tests. If he found any indication of onset, the only option would be experimental trials.

But documented confirmation of a diseased brain would break my still hopeful heart. I’d walk around with the scarlet letter “A” etched on the inside of my forehead — obstructing how I view every situation instead of the intermittent clouding I currently experience.

“You’re still grieving your father,” the doctor said at the end of our call. “Sadness and depression affect the memory, too. Let’s wait and see.”

It certainly didn’t help matters that two people at my father’s funeral made some insensitive remarks.

“Nancy, you must be scared to death.”

“Is it hard knowing the same thing probably will happen to you?”

Maybe the real question is what to do when the forgetting begins. My dad started taking 70 supplements a day in hopes of saving his mind. He begged me to kill him if he wound up like his father. He retired from his practice and spent all day in a chair doing puzzles. He stopped making new memories in an all-out effort to preserve the ones he already had.

Maybe his approach wasn’t the answer.

Just before his death — his brain a fraction of its former self — my father managed to offer up a final lesson. I was visiting him in the memory-care center when he got a strange look on his face. I figured it was gas. But then his eyes lit up and a big grin overtook him, and he looked right at me and said, “Funny how things turn out.”

An unforgettable moment?

I can only hope.



Nancy Stearns Bercaw is a writer in Vermont. Her book, “Brain in a Jar: A Daughter’s Journey Through Her Father’s Memory,” will be published in April 2013 by Broadstone.

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Slot maker WMS Ind. to be sold for $1.5B













WMS Industries being sold


WMS Industries president and CEO Orrin Edidin among slot machines at WMS headquarters on the northwest side of Chicago.
(Alex Garcia/ Chicago Tribune / January 31, 2013)



























































Scientific Games Corp. said it would acquire rival WMS Industries Inc. for about $1.42 billion to beef up its gaming machines business.

Scientific Games, which makes tickets and software for lotteries, will pay $26 for each WMS common share, a 59 percent premium to the stock's closing price of $16.37 on the New York Stock Exchange on Wednesday.

WMS shares rose 54 percent to $25.25 in premarket trade on Thursday.

The deal, which includes debt of $85 million and cash on hand of $55 million, will immediately add to earnings per share and free cash flow, Scientific Games said.

WMS Industries, which competes with Bally Technologies Inc., manufactures and distributes games, video and mechanical reel-spinning gaming machines and video lottery terminals.

BofA Merrill Lynch and Credit Suisse Securities LLC advised Scientific Games on the deal, while Cleary Gottlieb Steen & Hamilton LLP was the legal adviser.

Macquarie Capital advised WMS on the deal.

Scientific Games shares closed at $8.93 on the Nasdaq on Wednesday.

WMS Net Income Quarterly Chart

WMS Net Income Quarterly data by YCharts






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Ex-Gov. Ryan arrives at halfway house: 'He has paid a severe price'









A somber and silent George Ryan arrived at a West Side halfway house this morning after the former governor was released from a federal prison in Indiana.


Wearing a gray sports coat, white shirt and maroon tie, Ryan was surrounded by TV cameras as he walked down the street and entered the four-story red brick building at Ashland Avenue and Monroe Street shortly before 7 a.m.


Ryan smiled tightly as he refused to answer questions from reporters. Ryan's son, George Ryan Jr. and former Gov. Jim Thompson accompanied Ryan into the house.

After Ryan checked in, Thompson came back out and told reporters "today is another step in a long journey for George Ryan. . .He would like me to tell you he's grateful to leave the penitentiary. He's grateful also for the encouragement and support from many people. He has paid a severe price. The loss of his wife and brother while he was in the penitentiary, the loss of his pension, his office, his good name and 5 1/2 years of imprisonment. Now near 80 years old, that is a significant punishment. But he is going to go forward."








Ryan left the prison early this morning and managed to escape the notice of media camped at the facility. The first indication that Ryan has been released was around 6:45 a.m. when he left a building down the street and started walking toward the halfway house.


His son put his left hand on his father and guided him out the door. Ryan kept his head down, his hands in his pockets as he talked to his son and walked slowly through the knot of TV cameras.


As they neared the halfway house, a worker opened the door and tried to clear a path through the cameras. Ryan raised his head, his hands still in his pockets, his son to his right, as he walked down five steps and into the halfway house.


Thompson said Ryan didn't speak much during the van trip to Chicago.


"He didn't talk much, just small talk," Thompson said. "He looks good. He's been lifting weights. . .He knows something about carpentry now.


"He tied his own tie this morning, he hasn't forgotten that," Thompson said. "He's in decent spirits. He has to become accustomed to seeing things differently. . .We came down Michigan Avenue and he was looking at the lights left over from Christmas. That was sort of wonderful, I think. He hasn’t seen the city of Chicago in 5 1/2 years.”


Thompson said people forget that Ryan "was a very good governor." But he added that Ryan "is not bitter, he's not angry. He's accepting. This has been a long fight."


Ryan completed more than 5 years of a a 6 1/2-year prison sentence in Terre Haute, Ind. for a corruption conviction. 


Ryan entered prison on Nov. 7, 2007. His wife of more than 50 years, Lura Lynn, died of cancer in June 2011.


If Ryan does well at the halfway house, he would be eligible to move to home confinement at his Kankakee residence to finish out his sentence, which ends July 4.


The halfway house, operated by the Salvation Army a few blocks east of the United Center, has been a way station for about 20,000 men and women since opening in 1975. Many corrupt Illinois politicians have finished their sentences at the facility. Among the most recent graduates was former Chicago Ald. Edward Vrdolyak.


Ryan's conviction for fraud, racketeering and other charges was the culmination of the federal Operation Safe Road investigation that exposed rampant bribery in state driver's license facilities while he was secretary of state as well as misdeeds as governor.


After a six-month trial, a federal jury convicted Ryan in 2006 of steering millions of dollars in state business to lobbyists and friends in return for vacations, gifts and other benefits to Ryan and his family.


The conviction overshadowed Ryan's long career in government.


The Kankakee native rose from speaker of the Illinois House to win statewide election as lieutenant governor, secretary of state and then one term as governor. His actions as governor included placing a moratorium on the death penalty and emptying death row, moves that won him international acclaim.


Thompson said Ryan may become involved in death penalty issues after his sentence ends in July. "It's way too soon to tell."


chicagobreaking@tribune.com

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Yandex puts mobile app blocked by Facebook on hold






MOSCOW (Reuters) – Russian internet company Yandex has put an experimental application that allows users to search social networking sites from mobile devices on hold after it was blocked by Facebook.


Facebook, which launched its own search tool earlier this month, blocked the Wonder app three hours after its launch on January 24 for U.S. users.






The application allows users to look for recommendations on, for example, music or restaurants based on information from their friends on social network sites.


Facebook believes Wonder violates its policies, which state that no data obtained from Facebook can be used in any search engine without the company’s written permission, Yandex said on Wednesday, adding access to Facebook would not be restored.


“Since this access was revoked, we decided to put our application on hold for the time being,” the Russian firm said, adding it would consider partnership with other social networks and services.


Existing Wonder users are still able to search in Instagram, Foursquare and Twitter, a Yandex spokeswoman said, but marketing and further development of the application is on hold.


(Reporting by Maria Kiselyova; Editing by Mark Potter)


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Ke$ha bringing her “crazy beautiful life” to MTV series






NEW YORK (Reuters) – Singer Ke$ ha is coming to cable television with a new reality series that promises to document the “drama, madness and euphoria” of her professional and personal life, MTV said on Tuesday.


“Ke$ ha: My Crazy Beautiful Life,” will premiere on MTV in April, the network said.






“You might have heard my voice on the radio, seen me onstage or in a music video, but that’s only a part of the story,” the 25-year-old singer, known for hits including “Tik Tok” and “We R Who We R,” said in a statement.


“With this documentary series I’m revealing a more complete picture of what my life is really like. It’s not all glamorous but it’s all real,” she added.


MTV said the “no-limits” series would depict the music star “as she navigates the drama, madness and euphoria of her professional and personal life while recording a new album and traveling the globe.”


The show was shot over two years by the singer’s brother Lagan Sebert, working with minimal crew, providing what MTV said was an unfiltered, “real and raw” look at her life.


Lagan, a journalist, said that as he watched his sister’s ascent, “I soon realized that the most amazing story was happening in my own family and it became my mission document it … I set off on a two year long journey to tell my sister’s story.”


Ke$ ha has sold 3 million albums and 30 million singles worldwide and has won MTV Europe‘s best new act award. Her most recent album was 2012′s “Warrior.”


(Reporting by Chris Michaud; Editing by Jill Serjeant and Cynthia Osterman)


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The New Old Age Blog: For Some Caregivers, the Trauma Lingers

Recently, I spoke at length to a physician who seems to have suffered a form of post-traumatic stress after her mother’s final illness.

There is little research on this topic, which suggests that it is overlooked or discounted. But several experts acknowledge that psychological trauma of this sort does exist.

Barry Jacobs, a clinical psychologist and author of “The Emotional Survival Guide for Caregivers” (The Guilford Press, 2006), often sees caregivers who struggle with intrusive thoughts and memories months and even years after a loved one has died.

“Many people find themselves unable to stop thinking about the suffering they witnessed, which is so powerfully seared into their brains that they cannot push it away,” Dr. Jacobs said.

Flashbacks are a symptom of post-traumatic stress disorder, along with feelings of numbness, anxiety, guilt, dread, depression, irritability, apathy, tension and more. Though one symptom or several do not prove that such a condition exists — that’s up to an expert to determine — these issues are a “very common problem for caregivers,” Dr. Jacobs said.

Dolores Gallagher-Thompson, a professor of psychiatry at the Stanford University School of Medicine who treats many caregivers, said there was little evidence that caregiving on its own caused post-traumatic stress. But if someone is vulnerable for another reason — perhaps a tragedy experienced earlier in life — this kind of response might be activated.

“When something happens that the individual perceives and reacts to as a tremendous stressor, that can intensify and bring back to the forefront of consciousness memories that were traumatic,” Dr. Gallagher-Thompson said. “It’s more an exacerbation of an already existing vulnerability.”

Dr. Judy Stone, the physician who was willing to share her mother’s end-of-life experience and her powerful reaction to it, fits that definition in spades.

Both of Dr. Stone’s Hungarian parents were Holocaust survivors: her mother, Magdus, called Maggie by family and friends, had been sent to Auschwitz; her father, Miki, to Dachau. The two married before World War II, after Maggie left her small village, moved to the city and became a corset maker in Miki’s shop.

Death cast a long shadow over the family. During the war, Maggie’s first baby died of exposure while she was confined for a time to the Debrecen ghetto. After the war, the family moved to the United States, where they worked to recover a sense of normalcy and Miki worked as a maker of orthopedic appliances. Then he died suddenly of a heart attack at the age of 50.

“None of us recovered from that,” said Dr. Stone, who traces her interest in medicine and her lifelong interest in fighting for social justice to her parents and trips she made with her father to visit his clients.

Decades passed, as Dr. Stone operated an infectious disease practice in Cumberland, Md., and raised her own family.

In her old age, Maggie, who her daughter describes as “tough, stubborn, strong,” developed macular degeneration, bad arthritis and emphysema — a result of a smoking habit she started just after the war and never gave up. Still, she lived alone, accepting no help until she reached the age of 92.

Then, in late 2007, respiratory failure set in, causing the old woman to be admitted to the hospital, then rehabilitation, then assisted living, then another hospital. Maggie had made her preferences absolutely clear to her daughter, who had medical power of attorney: doctors were to pursue every intervention needed to keep her alive.

Yet one doctor sent her from a rehabilitation center to the hospital during respiratory crisis with instructions that she was not to be resuscitated — despite her express wishes. Fortunately, the hospital called Dr. Stone and the order was reversed.

“You have to be ever vigilant,” Dr. Stone said when asked what advice she would give to families. “You can’t assume that anything, be it a D.N.R. or allergies or medication orders, have been communicated correctly.”

Other mistakes were made in various settings: There were times that Dr. Stone’s mother had not received necessary oxygen, was without an inhaler she needed for respiratory distress, was denied water or ice chips to moisten her mouth, or received an antibiotic that can cause hallucinations in older people, despite Dr. Stone’s request that this not happen. “People didn’t listen,” she said. “The lack of communication was horrible.”

It was a daily fight to protect her mother and make sure she got what she needed, and “frankly, if I hadn’t been a doctor, I think I would have been thrown out of there,” she said.

In the end, when it became clear that death was inevitable, Maggie finally agreed to be taken off a respirator. But rather than immediately arrange for palliative measures, doctors arranged for a brief trial to see if she could breathe on her own.

“They didn’t give her enough morphine to suppress her agony,” Dr. Stone recalled.

Five years have passed since her mother died, and “I still have nightmares about her being tortured,” the doctor said. “I’ve never been able to overcome the feeling that I failed her — I let her down. It wasn’t her dying that is so upsetting, it was how she died and the unnecessary suffering at the end.”

Dr. Stone had specialized in treating infectious diseases and often saw patients who were critically ill in intensive care. But after her mother died, “I just could not do it,” she said. “I couldn’t see people die. I couldn’t step foot in the I.C.U. for a long, long time.”

Today, she works part time seeing patients with infectious diseases on an as-needed basis in various places — a job she calls “rent a doc” — and blogs for Scientific American about medical ethics. “I tilt at windmills,” she said, describing her current occupations.

Most important to her is trying to change problems in the health system that failed her mother and failed her as well. But Dr. Stone has a sense of despair about that: it is too big an issue, too hard to tackle.

I’m grateful to her for sharing her story so that other caregivers who may have experienced overwhelming emotional reactions that feel like post-traumatic stress realize they are not alone.

It is important to note that both Dr. Jacobs and Dr. Gallagher-Thompson report successfully treating caregivers beset by overwhelming stress. It is hard work and it takes time, but they say recovery is possible. I’ll give a sense of treatment options they and others recommend in another post.

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Airlines had earlier 787 battery issues

U.S. Transportation regulators are asking Boeing for a complete history of the lithium-ion batteries used on 787 Dreamliners. Battery problems have grounded all 50 787s in use around the world. (Jan. 30)









Japan's two biggest airlines replaced below-par lithium-ion batteries on their Boeing Co. 787 Dreamliners in the months before separate incidents led to the technologically advanced aircraft being grounded worldwide due to battery problems.

Comments from both All Nippon Airways, the new Boeing jetliner's biggest customer to date, and Japan Airlines Co Ltd point to reliability issues with the batteries long before a battery caught fire on a JAL 787 at Boston's airport and a second battery was badly charred and melted on an ANA domestic flight that was forced into an emergency landing.






ANA said it changed 10 batteries on its 787s last year, but did not inform accident investigators in the United States because the incidents, including five batteries that had unusually low charges, did not compromise the plane's safety, spokesman Ryosei Nomura said on Wednesday.

JAL also replaced batteries on the 787 “on a few occasions”, said spokeswoman Sze Hunn Yap, declining to be more specific on when units were replaced or whether these were reported to authorities.

ANA did, however, inform Boeing of the faults that began in May, and returned the batteries to their manufacturer, GS Yuasa Corp. A spokesman for the battery maker declined to comment on Wednesday. Shares of the company fell 1.2 percent.

Boeing spokesman Marc Birtel said the airplane maker could not comment as the U.S. National Transportation Safety Board (NTSB) has indicated this is now part of their investigation.

LITTLE HEADWAY

The New York Times earlier quoted an NTSB spokeswoman as saying the agency would include these “numerous issues” with the 787 battery in its investigations.

Under aviation inspection rules, airlines are required to perform detailed battery inspections once every two years.

Officials are carrying out detailed tests on the batteries, chargers and monitoring units in Japan and the United States, but have so far made little headway in finding out what caused the battery failures.

Japan's transport ministry said the manufacturing process at the company which makes the 787 battery's monitoring unit did not appear to be linked to the problem on the ANA Dreamliner that made the emergency landing.

The NTSB said on Tuesday it was carrying out a microscopic investigation of the JAL 787 battery. Neither it nor the Japan Transport Safety Board has been able to say when they are likely to complete their work.

The global fleet of 50 Dreamliners - 17 of which are operated by ANA - remain grounded, increasing the likely financial impact to Boeing, which is still producing the aircraft but has stopped delivering them, and the airlines that fly the Dreamliner.

Boeing is due to report its latest quarterly earnings later on Wednesday, and ANA posts its earnings on Thursday. ANA shares rose 0.56 percent on Wednesday.
 

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2 men wounded at gas station where clerk slain in July









At least eight people were shot across Chicago overnight, including two men wounded just outside a West Side gas station where a clerk was slain last summer, authorities said.

The men, 31 and 34, were sitting in a car in front of the gas station in the 3300 block of West Washington Boulevard in East Garfield Park around 10:30 p.m., according to police.

Someone parked a van in the street, got out, walked up and shot them, police said. They were taken to Stroger Hospital and were expected to survive, police said.

In July, a clerk was shot and killed at the station about two hours before his shift was to end, according to police and the man's family.

In other shootings:

• About 2 a.m. a 26-year-old man was shot above the knee after he stepped onto a porch in the 2200 block of West 71st Street in the West Englewood neighborhood to smoke, police said. He was taken to Advocate Christ Medical Center and was reported stable.

•  Someone inside a car shot at a 37-year-old man in the 2400 block of West Huron Street in the West Town neighborhood about 12:15 a.m., police said. He was taken to Stroger Hospital.

•  Another man, 38, was shot while driving in the 7200 block of South Champlain Avenue in the Park Manor neighborhood about 9:45 p.m. Monday. He crashed into a pole after suffering a wound to the lower back, police said, and was taken to Advocate Christ Medical Center.

• Just before 9 p.m., someone shot a 23-year-old man in the abdomen in the 8300 block of South Carpenter Street, police said. The man was taken to Advocate Christ Medical Center from near 83rd and Morgan Street, where he had walked after getting shot.

•  A 26-year-old man who had been shot in the right arm in the 2100 block of North Tripp Avenue in the Hermosa neighborhood was found a couple blocks away on Fullerton Avenue around 7 p.m., police said. He was taken to Advocate Illinois Masonic Medical Center in good condition, police said.

•  A 20-year-old man was in serious condition after someone shot him in the back in the 6200 block of South Artesian Avenue about 5:10 p.m. Monday in the Chicago Lawn neighborhood.  He was taken to Mount Sinai Hospital, according to the Chicago Fire Department.

pnickeas@tribune.com
Twitter: @peternickeas





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