Ferrol Sams, Doctor Turned Novelist, Dies at 90


Ferrol Sams, a country doctor who started writing fiction in his late 50s and went on to win critical praise and a devoted readership for his humorous and perceptive novels and stories that drew on his medical practice and his rural Southern roots, died on Tuesday at his home in Lafayette, Ga. He was 90.


The cause, said his son Ferrol Sams III, also a doctor, was that he was “slap wore out.”


“He lived a full life,” his son said. “He didn’t leave anything in the tank.”


Dr. Sams grew up on a farm in the rural Piedmont area of Georgia, seven mud-road miles from the nearest town. He was a boy during the Depression; books meant escape and discovery. He read “Robinson Crusoe,” then Mark Twain and Charles Dickens. One of his English professors at Mercer University, in Macon, suggested he consider a career in writing, but he chose another route to examining the human condition: medical school.


When he was 58 — after he had served in World War II, started a medical practice with his wife, raised his four children and stopped devoting so much of his mornings to preparing lessons for Sunday school at the Methodist church — he began writing “Run With the Horsemen,” a novel based on his youth. It was published in 1982.


“In the beginning was the land,” the book begins. “Shortly thereafter was the father.”


In The New York Times Book Review, the novelist Robert Miner wrote, “Mr. Sams’s approach to his hero’s experiences is nicely signaled in these two opening sentences.”


He added: “I couldn’t help associating the gentility, good-humored common sense and pace of this novel with my image of a country doctor spinning yarns. The writing is elegant, reflective and amused. Mr. Sams is a storyteller sure of his audience, in no particular hurry, and gifted with perfect timing.”


Dr. Sams modeled the lead character in “Run With the Horsemen,” Porter Osborne Jr., on himself, and featured him in two more novels, “The Whisper of the River” and “When All the World Was Young,” which followed him into World War II.


Dr. Sams also wrote thinly disguised stories about his life as a physician. In “Epiphany,” he captures the friendship that develops between a literary-minded doctor frustrated by bureaucracy and a patient angry over past racism and injustice.


Ferrol Sams Jr. was born Sept. 26, 1922, in Woolsey, Ga. He received a bachelor’s degree from Mercer in 1942 and his medical degree from Emory University in 1949. In his addition to his namesake, survivors include his wife, Dr. Helen Fletcher Sams; his sons Jim and Fletcher; a daughter, Ellen Nichol; eight grandchildren; and nine great-grandchildren.


Some critics tired of what they called the “folksiness” in Dr. Sams’s books. But he did not write for the critics, he said. In an interview with the Georgia Writers Hall of Fame, Dr. Sams was asked what audience he wrote for. Himself, he said.


“If you lose your sense of awe, or if you lose your sense of the ridiculous, you’ve fallen into a terrible pit,” he added. “The only thing that’s worse is never to have had either.”


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Chicago beer firm Crown Imports is caught in antitrust fight









An antitrust brouhaha in Washington has thrown the future of Crown Imports, a Chicago-based beer importer, into question.


The company, which ranks third in U.S. beer sales volume, is a joint venture between New York-based Constellation Brands Inc. and Mexico's Grupo Modelo, which makes Corona Extra, the leading imported beer in the U.S., and other brands. Crown sells Modelo brands as well as China's Tsingtao.


As part of its proposed sale to Anheuser-Busch InBev, Grupo Modelo agreed to sell its 50 percent stake in Crown to Constellation Brands for $1.85 billion. The separate transaction was meant to ease possible antitrust concerns that the merger would eliminate Crown Imports as a competitor.





But on Thursday the U.S. Department of Justice filed an antitrust suit against AB InBev to block its acquisition of Grupo Modelo. Antitrust officials said the merger would further increase the concentration of the U.S. beer market, leading to higher prices for American consumers.


The lawsuit said the sale of Modelo's interest in Crown Imports to its partner would only create "a facade of competition" between AB InBev and the importer.


"In reality, Defendants' proposed 'remedy' eliminates from the market Modelo — a particularly aggressive competitor — and replaces it with an entity wholly dependent on ABI," the Justice Department said in the lawsuit.


The suits cites as evidence part of an internal memo that Crown's chief executive, Bill Hackett, wrote to employees after the transactions were announced in June. According to the suit, Hackett wrote, "Our #1 competitor will now be our supplier ... it is not currently or will not, going forward, be 'business as usual.'"


Under the terms of the proposed merger with Modelo, AB InBev also had the option to terminate its agreement with Crown Imports after 10 years, giving it full control of Corona distribution.


Constellation Brands on Friday attacked the Justice Department, saying in a statement that the suit "demonstrates its incomplete understanding" of the proposed merger. Constellation and AB InBev have indicated that they plan to challenge the suit.


In a detailed defense, Constellation said its full control of Crown would improve competition, not harm it. According to the lawsuit, Modelo controls about 7 percent of U.S. beer sales, far behind AB InBev's market-leading 39 percent.


Constellation attempted to ease concerns that AB InBev's merger with Modelo would lead to higher prices. Hackett said in a statement: "Our Crown team independently develops, implements and refines pricing, promotional and sales strategies for each of our brands in the U.S."


The proposed beer merger had reduced uncertainty hanging over Crown Imports because the Modelo-Constellation joint venture was set to expire at the end of 2016. The Justice Department action creates a new level of uncertainty, said Benj Steinman, president of Beer Marketer's Insights, a beer industry trade publication.


"Crown's fate is hanging in the balance," Steinman said.


asachdev@tribune.com


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Former N.Y. mayor Ed Koch dies

Former New York Mayor, the brash and outspoken Ed Koch, has passed away at the age of 88.










NEW YORK (Reuters) - Former Mayor Edward Koch, who presided over New York City during the turbulent late 1970s and '80s and came to personify the city with his wry and outspoken style, died on Friday at the age of 88, his spokesman said.

As mayor from 1978 to 1989, the forceful, quick-witted Koch, with his trademark phrase "How'm I Doing?," was a polarizing figure and the city's constant promoter.






Koch died of congestive heart failure at about 2 a.m. at New York-Presbyterian hospital following a year of repeated hospitalizations, George Arzt, his spokesman, said.

Koch was credited with lifting New York from crushing economic crises to a level of prosperity that was the envy of other U.S. cities. Under his leadership, the city regained its financial footing and underwent a building renaissance.

But his three terms in office were also marked by racial tensions, corruption among many of his political allies, the rise in AIDS and HIV, homelessness and a high crime rate. In 1989, he lost the Democratic nomination for what would have been a record fourth term as mayor.

Mayor Michael Bloomberg said the flags at all city buildings would fly at half-staff in Koch's memory.

"In elected office and as a private citizen, he was our most tireless, fearless, and guileless civic crusader," Bloomberg said. "His spirit will live on not only here at City Hall, and not only on the bridge the bears his name, but all across the five boroughs."

Koch had a quip for every occasion and once said he wanted to be mayor for life. He was the only U.S. mayor to have a bestselling autobiography that was turned into an off-Broadway musical.

This week, "Koch," a documentary about his three terms as mayor, premiered at the Museum of Modern Art. Koch was unable to attend the premier for the movie.

"I don't think there was anybody who had more fun being mayor as Ed Koch," City Council Speaker Christine Quinn, who is in the race to be the city's next mayor, said at the premier.

The film opens in theaters on Friday.

"Here was a mayor who was a combination of a Lindy's waiter, a Coney Island barker, a Catskill comedian, an irritated school principal and an eccentric uncle," New York writer Pete Hamill said in a 2005 discussion of Koch's legacy. "He talked tough and the reason was, he was tough."

NEW YORK NATIVE

Born into a Jewish immigrant family in the Bronx on December 12, 1924, Edward Irving Koch went on to attend City College and earn a law degree from New York University.

He entered politics in the 1950s in Manhattan's Greenwich Village neighborhood, winning a seat on the city council, and later went to Washington, where he served four terms in the U.S. House of Representatives.

In 1977, he made a second attempt running for mayor of New York City, and proved to be an agile campaigner. To combat rumors he was gay, former beauty queen Bess Myerson began appearing by his side at campaign events.

Koch later admitted the two were never romantically involved. Koch remained a bachelor all his life and refused to answer questions about his sexuality even in his later years.

After two successful terms in office - he was returned for a third term with 70 percent of the vote - Koch's star had begun to fade. A corruption scandal involving his ally, Queens Borough President Donald Manes, never implicated Koch, but it damaged his reputation with voters.

Koch's attempt at a fourth term failed when he lost his party's nomination to Manhattan borough president David Dinkins, a man as quiet and deliberative as Koch was bold and abrasive. Dinkins would go on to be the city's first black mayor.

"People became tired of Koch's personality," said Mitchell Moss, the director of the Urban Research Center at New York University. "He was a remarkable mayor but one with a big mouth. After 12 years you have to change the lyrics."

After leaving office, Koch wrote articles on everything from Middle East politics to movie reviews, hosted a radio show and served as a judge on television's "“The People's Court." His book about another former New York City mayor, Rudy Giuliani, was titled "Giuliani: Nasty Man."

He remained a formidable figure in New York politics until his death, endorsing candidates and offering political commentary on the local NY1 TV station. He has been a supporter of New York's current mayor, Michael Bloomberg, and in 2010 he formed New York Uprising, a political action committee designed to fight corruption in state politics.

In 2008, Koch announced he had secured a plot in Manhattan's Trinity Cemetery, telling the New York Times: "The idea of leaving Manhattan permanently irritates me."

(Additional reporting by David Storey, Editing by Colleen Jenkins, Walker Simon and Jackie Frank)

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3 Things That Still Worry Me About BlackBerry






BlackBerry put on a pretty good show on Wednesday when it revealed the Z10 and the Q10, its first new smartphones in a year and a half. The demos were crisp, and the new BlackBerry 10 software looked clever. At the very least, it seems that BlackBerry has finally joined the modern smartphone era.


But despite my interest in BlackBerry’s new phones, I’m still worried about the future of the platform, and not merely because it’s been off the radar for a while. Looking at what BlackBerry did and didn’t announce, and what reviewers are saying about the product, gives me a few big reasons for concern:






Apps, Both Present and Future


BlackBerry deserves credit for having lots of apps out of the gate–more than 70,000, the company says–including some important ones like Twitter, Facebook, Angry Birds and The New York Times. Still, there are some big names missing from the list, including Netflix, YouTube, Spotify and Instagram. You can’t expect a new platform to have everything right away, though, so I don’t want to judge BlackBerry’s current app count too harshly.


It’s the future that I’m really worried about. What happens when the next Instagram comes out, and becomes a sensation on the iPhone and Android? Will BlackBerry be like Windows Phone–that is, just an afterthought in the minds of up-and-coming app developers? The good news is that Android apps are relatively easy to port to BlackBerry 10 (in fact, roughly 40 percent of those 70,000 launch apps are simple ports, ReadWrite notes), so RIM just has to convince developers to make a relatively small effort. We’ll see if they do.


Never Neglect Maps


The consensus among BlackBerry Z10 reviews is that its Maps app is subpar. The Verge complained about inaccurate data, and said the software couldn’t reliably find local businesses. CNet bemoaned a lack of features, such as walking directions, transit maps and street views. Apparently the software doesn’t even let you jump into the Maps app by tapping on an address or map in the web browser. That’s just basic stuff. At least the Maps app includes voice-guided turn-by-turn directions.


In any case, having a good mapping service isn’t just about telling you where to go. It’s about using your location to deliver useful information. Google Now, for instance, can warn you about traffic before your commute home, and Apple‘s Passbook can call up a boarding pass when you get to the airport. These days, a really good standalone Maps app is only part of the equation, and BlackBerry doesn’t even have that yet.


Voice Commands and Virtual Assistants


BlackBerry has added voice commands in its new phones, but the list of supported actions is paltry compared to what Android and the iPhone offer. You can’t ask for movie times, the weather forecast, directions, or things to do. You can’t tell the phone to start playing music, answer a trivia question, calculate numbers or set reminders.


You may argue that it doesn’t matter, that most people don’t rely too heavily on voice commands to begin with. I think that will change as these virtual assistants become faster and support more types of queries. They’ll also become more useful in automobiles–in fact, some car makers are now starting to integrate Siri–and they may some day play a big role in wearable computing, allowing you to communicate by voice when your phone is just out of reach. It’s still early days for this kind of technology, but Apple and Google already have a huge head start. BlackBerry, by comparison, is just getting started.


I’m not saying the new BlackBerry phones are no good, or that no one should use them. Like I said before, the software has some clever ideas, such as the Hub that combines all communications into one area, and the Balance feature that acts as a separate login for business use. But the smartphone industry moves quickly, and BlackBerry’s period of rebuilding has taken its toll in a few key areas. As with before, it’s going to be hard for the company to catch up.


MORE: Check out a video about the new hardware and features


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Beyonce admits Inauguration Day pre-recording






NEW ORLEANS (AP) — Beyonce answered critics of her Inauguration Day performance the best way she could — with another sterling performance of the national anthem.


The difference?






On Thursday, it was live: She admitted during her Super Bowl news conference that when she performed for President Barack Obama and the nation, she decided to sing to a prerecorded track because she didn’t have time to practice. Calling herself a self-proclaimed “perfectionist,” she said wanted the day to go off without a hitch.


“I practice until my feet bleed and I did not have time to rehearse with the orchestra,” she said, adding that she was also emotional that day. “Due to no proper sound check, I did not feel comfortable taking a risk. It was about the president and the inauguration, and I wanted to make him and my country proud, so I decided to sing along with my pre-recorded track, which is very common in the music industry. And I’m very proud of my performance.”


It was the superstar’s first public comments on what has become known as “Beyonce-gate.”


Her rendition of the anthem was critically praised, but was scrutinized less than a day later when a representative from the U.S. Marine Band said Beyonce was lip-syncing — merely mouthing the words to a pre-recorded track — and the band’s accompanying performance was taped. Shortly after, the group backed off its initial statement and said no one could tell if she was singing live or not.


With the controversy growing each day, and everyone from politicians to other entertainers weighing in, the inauguration performance threatened to overshadow her planned Super Bowl halftime show. So the 31-year-old, wearing a tight, cream mini-dress, addressed the issue as soon as she took to the podium Thursday afternoon.


She asked everyone to stand, and, with an image of the American flag behind her, performed a live rendition of the national anthem that mirrored the one on Inauguration Day. After, she said with a laugh: “Any questions?”


Despite her performance, there were.


When pressed about whether any sound was coming from her voice when she sang for the president, she said she was singing along to the track and not mimicking (though it’s unclear how audible her voice was). And when asked if she would be singing live at the Super Bowl, she said: “I will absolutely be singing live.


“This is what I was born to do.”


She added later: “I always sing live. … The inauguration was unfortunately a time where I could not rehearse with the orchestra, actually because I was rehearsing for the Super Bowl. So that was always the plan.”


Beyonce also got a chance to talk more in detail about the reason why she was in New Orleans — to perform at the halftime show. Calling it one of her career aspirations, she said when she arrived at the Superdome, she was so moved by the experience she took her shoes off and ran on the field, taking in the history at the famed venue.


“It really makes me emotional,” she said. “When I am no longer here, it’s what they’re gonna show.”


Beyonce has teased photos and video of herself preparing for the show, which will perhaps be the biggest audience of her career. Last year, Madonna’s halftime performance was the most-watched Super Bowl halftime performance ever, with an average of 114 million viewers. It garnered more viewers than the game itself, which was the most-watched U.S. TV event in history.


But she would not give anything more away about the performance. While a Destiny’s Child reunion was shot down by Michelle Williams, who is starring in a production of “Fela!”, the third Destiny’s Child member, Kelly Rowland, is in town. Beyonce laughed off questions of whether Rowland or Beyonce’s husband, Jay-Z, would join her on stage.


“I can’t give you any details, sorry,” she said.


She also would not reveal her set list, though acknowledged she was having a hard time trying to “condense a career into 12 minutes.”


Before the news conference, Beyonce’s “Life is But A Dream” was shown to the media. The documentary about the star’s life features her talking in-depth about intimate details of her life, including suffering a miscarriage; it will air on HBO on Feb. 16.


In it, she also reveals more of her 1-year-old daughter Blue Ivy, whom she called her inspiration.


“I feel like my daughter changed me and changed my life and has given me so much purpose,” she said. She added that she was counting down until 9 p.m. Sunday, when her performance would be over — and she could be reunited with Blue Ivy.


___


Follow Nekesa Mumbi Moody at http://www.twitter.com


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The New Old Age Blog: Caregiving, Laced With Humor

“My grandmother, she’s not a normal person. She’s like a character when she speaks. Every day she’s playing like she’s an actress.”

These are words of love, and they come from Sacha Goldberger, a French photographer who has turned his grandmother, 93-year-old Frederika Goldberger, into a minor European celebrity.

In the photos, you can see the qualities grandson and grandmother have in common: a wicked sense of humor, an utter lack of pretension and a keen taste for theatricality and the absurd.

This isn’t an ordinary caregiving relationship, not by a long shot. But Sacha, 44 years old and unmarried, is deeply devoted to this spirited older relation who has played the role of Mamika (“my little grandmother,” translated from her native Hungarian) in two of his books and a photography exhibition currently underway in Paris.

As for Frederika, “I like everything that my grandson does,” she said in a recent Skype conversation from her apartment, which also serves as Sacha’s office. “I hate not to do anything. Here, with my grandson, I have the feeling I am doing something.”

Their unusual collaboration began after Frederika retired from her career as a textile consultant at age 80 and fell into a funk.

“I was very depressed because I lived for working,” she told me in our Skype conversation.

Sacha had long dreamed of creating what he calls a “Woody Allen-like Web site with a French Jewish humor” and he had an inspiration. What if he took one of the pillars of that type of humor, a French man’s relationship with his mother and grandmother, and asked Frederika to play along with some oddball ideas?

This Budapest-born baroness, whose family had owned the largest textile factory in Hungary before World War II, was a natural in front of the camera, assuming a straight-faced, imperturbable comic attitude whether donning a motorcycle helmet and goggles, polishing her fingernails with a gherkin, wearing giant flippers on the beach, lighting up a banana, or dressed up as a Christmas tree with a golden star on her head. (All these photos and more appear in “Mamika: My Mighty Little Grandmother,” published in the United States last year.)

“It was like a game for us, deciding what crazy thing we were going to do next, how we were going to keep people from being bored,” said Sacha, who traces his close relationship with his grandmother to age 14, when she taught him how to drive and often picked him up at school. “Making pictures was a very good excuse to spend time together.”

“He thought it was very funny to put a costume on me,” said Frederika. “And I liked it.”

People responded enthusiastically, and before long Sacha had cooked up what ended up becoming the most popular character role for Frederika: Super Mamika, outfitted in a body-hugging costume, tights, a motorcycle helmet and a flowing cape.

His grandmother was a super hero of sorts, because she had helped save 10 people from the Nazis during World War II, said Sacha. He also traced inspiration to Stan Lee, a Jewish artist who created the X-Men, The Hulk and the Fantastic Four for Marvel comics. “I wanted to ask what happens to these super heroes when they get old in these photographs with my grandmother.”

Lest this seem a bit trivial to readers of this blog, consider this passage from Sacha’s introduction to “Mamika: My Might Little Grandmother”:

In a society where youth is the supreme value; where wrinkles have to be camouflaged; where old people are hidden as soon as they become cumbersome, where, for lack of time or desire, it is easier to put our elders in hospices rather than take care of them, I wanted to show that happiness in aging was also possible.

In our Skype conversation, Sacha confessed to anxiety about losing his grandmother, and said, “I always was very worried about what would happen if my grandmother disappeared. Because she is exceptional.”

“I am not normal,” Frederika piped up at his side, her face deeply wrinkled, her short hair beautifully coiffed, seemingly very satisfied with herself.

“So, making these pictures to me is the best thing that could happen,” Sacha continued, “because now my grandma is immortal and it seems everyone knows her. I am giving to everybody in the world a bit of my grandma.”

This wonderful expression of caring and creativity has expanded my view of intergenerational relations in this new old age. What about you?

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Jobless rate climbs to 7.9% in January









U.S. job growth grew modestly in January and gains in the prior two months were bigger than initially reported, supporting views the economy's sluggish recovery was on track despite a surprise contraction in output in the final three months of 2012.

Employers added 157,000 jobs to their payrolls last month, the Labor Department said on Friday. There were 127,000 more jobs created in November and December than previously reported.

The unemployment rate, however, edged up 0.1 percentage point to 7.9 percent.

The closely watched report also showed an increase in hourly earnings and solid gains in construction and retail employment.

Coming on the heels of data on Wednesday showing a surprise contraction in gross domestic product in the fourth quarter, that should ease any worries the economy was at risk of recession, even though the unemployment rate ticked up.

GDP contracted at a 0.1 percent annual rate in the fourth quarter, largely because of a sharp slowdown in the pace of inventory accumulation and a plunge in defense spending.

A monster storm that hit the East Coast in late October also weighed on output, a drag that should lift this quarter.

Federal Reserve officials said on Wednesday that economic activity had “paused,” but they signaled optimism the recovery would regain speed with continued monetary policy support. The Fed left in place a monthly $85 billion bond-buying stimulus plan.

Economists polled by Reuters had expected employers to add 160,000 jobs and the unemployment rate to hold steady at 7.8 percent last month.

The Labor Department also published benchmark revisions to payrolls data going back to 2008. It said the employment level in March 2012 was 422,000 higher on a seasonally adjusted basis than previously reported.

It also introduced new population factors for its survey of households from which the unemployment rate is calculated. This had a negligible effect on the major household survey measures.

MODEST JOB GROWTH

Job growth in 2012 averaged 181,000 a month, but not enough to significantly reduce unemployment. Economists say employment gains in excess of 250,000 a month over a sustained period are needed.

Though the unemployment rate dropped from a peak of 10 percent in October 2009, that was mostly because some unemployed Americans gave up the search for work because of weak job prospects.

The share of the working age population with a job has been below 60 percent for almost four years.

All the job gains in January were in the private sector, where hiring was as broad-based as it was in December and declines in public sector employment remained moderate.

Steady job gains could help the economy weather the headwinds of higher taxes and government spending cuts. A payroll tax cut expired on Jan. 1 and big automatic spending cuts are set to take hold in March unless Congress acts.

The goods-producing sector showed a third month of solid gains, with manufacturing employment advancing for a fourth straight month. Construction payrolls increased 28,000, adding to December's healthy 30,000 gain.

Construction jobs are expected to rise further as the housing market recovery gains momentum. Housing is expected to support the economy this year, taking over the baton from manufacturing.

Within the vast private services sector, retail jobs increased by a solid 32,600 jobs after rising 11,200 in December. Retail employment has now risen for seven straight months. Education and health payrolls added 25,000 jobs in January after employment grew by the most in 10 months in December.

Government payrolls dropped by 9,000 last month after falling 6,000 in December. The pace is moderating as local government layoffs, outside education, subside.

Average hourly earnings rose four cents last month. Hourly earnings have been rising steadily. They were up 2.1 percent in the 12 months through January.

“It may be that we are now getting to a point in the labor market where we are going to see an upward creep in average hourly earnings,” said RDQ Economics' Ryding, chief economist at RDQ Economics in New York.

“That's going to be good for the consumer and they need help because they are being whacked by the payrolls tax increase,” he said before the release of the report.

The length of the workweek for the average worker was steady at 34.4 hours for a third straight month.
 

US Change in Nonfarm Payrolls Chart

US Change in Nonfarm Payrolls data by YCharts





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80 fire departments battle 8-alarm blaze in Wisconsin




















Emergency officials are on the scene of a 5 alarm fire at a plant in Burlington Wisconsin.




















































More than 300 firefighters and paramedics from 80 departments across two states battled an 8-alarm fire overnight at Echo Lake Farms Produce Company in Burlington, Wis.

The fire broke out about 6:05 p.m. Wednesday was still smoldering this morning, with firefighters pouring water on hot spots, officials said.






“As of right now, we have departments from Racine to Milwaukee and Waukesha and Kenosha counties, and some from northern Illinois,” said Burlington City Administrator Kevin Lahner.

The factory processes egg products, Lahner said. There was some “ammonia present” and a hazardous materials team from Racine was monitoring air quality around the site.

Ten homes and an apartment complex nearby were evacuated because of smoke, Lahner said, displacing about 50 people.

Fireghters were regularly checked for symptoms of cold exposure because of the frigid temperatures, Lahner said.

The plant covers about 70,000 square feet and is one of the town's largest employers, according to Lahner. The plant's 300 workers were told to stay home today.

pnickeas@tribune.com
Twitter: @peternickeas






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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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